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The Chase Sapphire Preferred Card (review), has been one of the most popular and comprehensive travel rewards credit cards over the past decade. Credit card landscapes are constantly changing and cards must adapt to keep up.
The Chase Sapphire Preferred currently offers its highest-ever welcome bonus and the card has been completely redesigned with positive changes. It is worth applying if you are eligible and do not have the card. This is especially true when you consider the incredible welcome bonus that will be offered in the coming days.
This post will discuss nine reasons why Chase Sapphire Preferred is a good choice. In no particular order:
100K Ultimate Rewards Points are the best-ever bonus
Chase Sapphire Preferred currently offers its highest-ever welcome bonus of 100,000 Ultimate Rewards points for those who spend $4,000 in three months. This is a huge bonus that has a low spending requirement and is the best credit card bonus. The bonus will be available for only a few more days. I don't think this bonus will return any time soon.
100K Ultimate Rewards points are worth $1,250 in travel. You can get a lot more value from your Ultimate Rewards points by transferring them into the Ultimate Rewards airline or hotel partners.
100K Chase points could get you a lot more travel
Annual fee of $95
In recent years, we've seen a lot of annual fee inflation with credit cards. A card refresh or new benefits will usually bring a higher annual fees. You will find many useful cards today with annual fees that range from $0 up to $695.
It is quite remarkable that the Sapphire Prive continues to charge a low annual fee of less than $100 while still providing a wide range of perks.
Incredible 2-5x Points Bonus Categories
The bonus categories were not very competitive before the Chase Sapphire Preferred was updated. The Sapphire Preferred offers have changed this.
Chase Travel Portal: 5x Ultimate Rewards Points
Dining at 3x Ultimate Rewards Points
3x Ultimate Rewards points for online grocery stores (exclusions Target, Walmart, wholesale clubs)
Select streaming services eligible for 3x Ultimate Rewards points
2x Ultimate Rewards points for all other travel purchases
All other purchases earn 1x Ultimate Rewards points
These bonus categories can be maximized correctly to earn points.
Get 3x points when you dine with the Sapphire Preferred
Bonus points of 10% for the anniversary
The Chase Sapphire Preferred now offers 10% anniversary bonuses. You will receive bonus points equal to 10% of your card spending each year. You would earn 2000 bonus points if you spend $20,000 in anniversary years on the card.
This means that you will earn more Ultimate Rewards points than the Chase Sapphire Reserve Card (review), for dining.
Chase Ultimate Rewards travel partners
The Chase Sapphire Preferred rewards program offers flexible points. Points can be used to redeem for 1 cent per travel purchase. They can also be transferred to Chase's extensive collection of hotel and airline partners at a 1:1 ratio.
You can get extraordinary value by transferring points from World of Hyatt to redeem at a five-star Park Hyatt or to Air Canada Aeroplan to redeem for first or business class on a Star Alliance partner airline.
These redemptions can net you more than 1.25 cents per point. I have redeemed 30,000 Chase Points per night to pay for Ventana Big Sur's all-inclusive Ventana Big Sur. A paid night would have been well over $2,000, so I was able to redeem 30,000 Chase points per night. This is approximately 6.7 cents per Ultimate Rewards point.
Chase Points at Alila Ventana Big Surf - Redeem Your Chase Points
Maximize no annual fee cards
Chase Sapphire Preferred offers more than just immediate rewards. It unlocks other cards with potential value. You can also get four cards with no annual fees if you have the card. These cards will also give you Ultimate Rewards points that you can use to increase your points earning.
These cards include:
Personaly, I have all four cards and they allow me maximize my Ultimate Rewards points.
To maximize your points, build a portfolio of Chase Cards
Amazing car rental & travel protection
A premium credit card has many great perks, but one of them is travel protection. We often forget to consider this because we expect that everything will be smooth. This is another area where Chase Sapphire Preferred excels. You should always check your cardmember agreement to see the terms. However, the general card offers are:
Car rental policies include primary collision damage waiver coverage
Travel protection includes flight cancellations and delays, as well delayed or lost baggage
Car rental protection literally saved me more than $10,000 (when I was rearended in a rental car once), and collectively, I have saved thousands of dollars with travel insurance.
It can be very useful to have rental car coverage
$50 per year hotel credit
Chase Sapphire Preferred now offers a $50 credit for hotel bookings on your anniversary year. This allows you to receive up $50 in statement credit when booking a hotel through Chase Ultimate Rewards Travel Center.
You don't need to spend a minimum amount, so even if you book a $50 hotel room you can get $50 back. Many people will be able to recoup more than half the annual fee.
Get $50 per year in hotel credit when you sign up for the Sapphire Preferred
Additional temporary credits and benefits
There are some temporary perks that Chase Sapphire Preferred offers in addition to the ones mentioned above. These perks can add up quickly.
DoorDash DashPass membership valid for minimum 12 months. Orders of $12 or more from eligible restaurants will get $0 delivery fees
Peloton credits up to $60, valid until December 31, 2021
These perks can be worth several hundred dollars for some people, in addition to all the benefits provided by the card.
Bottom line
The Chase Sapphire Preferred was not as popular as it used to be, due to other cards overtaking it. The card offers a huge welcome bonus and new perks that make it incredibly lucrative and well worth the investment. This is true regardless of whether you are brand new to points or a seasoned points veteran with this card.
The above should give you a good overview of the reasons why the Sapphire Preferred is worth your consideration. This card is worth considering, especially as the 100K offer is likely to be pulled. You can read my complete review of this card for more information.
