Chase Sapphire Preferred Card Review
Bonus Offer: 80,000 bonus Ultimate Rewards points when you spend $4,000 in 3 months
Bonus Offer: 80,000 bonus Ultimate Rewards points when you spend $4,000 in 3 months
★ This card earns bonus points for spend in the following bonus categories:
Anyone getting started in miles and points. It's easily the best starter card for someone learning how to earn and spend credit card rewards.
Card Features and Benefits:
- 5X Chase Ultimate Rewards points on Lyft rides
- 2X Ultimate Rewards points on travel and dining
- 1X points on all other purchases
- Earn 5X points for Streaming Services
- Earn 3X Ultimate Rewards points at Gas Stations
- Earn 3X Ultimate Rewards points for Instacart
- Get up to $50 in Instacart Express credits
- Qualifying Streaming Services are listed as: Disney+, Hulu, ESPN+, Netflix, Sling, Vudu, Fubo TV, Apple Music, SiriusXM, Pandora, Spotify, YouTube TV.
- (These are in addition to the 2X points on travel and dining.)
- Trip delay insurance benefits, up to $500 per covered claim
- Trip cancelation insurance benefits, up to $10,000 per person per covered claim $20,000 per trip max.
- Baggage delay and lost luggage insurance benefits
- Purchase Protection covers new purchases made with the Preferred card for 120 days against damage or theft (Up to $500 per claim and $50,000 per account).
- Extended Warranty Protection extends the U.S. manufacturer's warranty by an extra year (on eligible warranties of 3 years or less).
- No foreign transaction fees.
- Primary car rental CDW (collision damage waiver) coverage.
- Get free DashPass to get free DoorDash deliveries at select restaurants with $12 or more in your order and decreased service charges. Valid from now through the end of Dec 2021 or for a minimum of one year when activated any time before then
- Aer Lingus AerClub (instant transfer)
- Air France/KLM Flying Blue (instant transfer)
- British Airways Avios (instant transfer)
- Iberia Plus (instant transfer)
- JetBlue TrueBlue (instant transfer)
- Singapore Airlines KrisFlyer (1-2 days)
- Southwest Airlines Rapid Rewards (instant transfer)
- United Airlines MileagePlus (instant transfer)
- Virgin Atlantic Flying Club (instant transfer)
- World of Hyatt (instant transfer)
- Marriott Bonvoy (instant transfer)
- IHG Rewards Club (instant transfer)
The Chase Sapphire Preferred is perhaps the best entry level credit card for those getting started in miles and points.
Why is Chase Sapphire Preferred so good?
Great question! The answer lies in its low $95 annual fee, rich benefits in relation to that fee, and 2X bonus points earning on travel and dining. And those points, known as Chase Ultimate Rewards points, are extremely valuable as well, more valuable than just earning cash back!
Chase Will Let you “Pay Yourself Back”
Chase Sapphire Preferred cardmembers can always use their points to book travel via the travel portal where they get 1.25 cents per point.
Now, you can redeem in the same manner for grocery stores, home improvement stores and dining, including restaurants, takeout and eligible delivery services. Instead of using a “portal” to make the purchases, you just pay as you normally would and then go into the Chase website to “pay” for that purchase with points. You will get the same 1.25 cents per point in value as you get booking travel. The feature is branded “Pay Yourself BackSM“.
The only requirement is that the merchant category be in one of the specified categories and you must “Pay yourself back” within 90 days of purchase.
Chase Sapphire Preferred Benefits:
The Chase Sapphire Preferred credit card has a low annual fee and unlocks transfers from this and any linked Chase Ultimate Rewards-earning credit card to airline and hotel partners, such as United and Hyatt, where you can get a bigger return for your points.
Aside from transfers to airline and hotel partners, you can also redeem your points for travel at the rate of 1.25 cents in value per Ultimate Rewards point. (i.e. $625 in travel for 50,000 points).
Chase Sapphire Preferred Credit Card Earn Rate:
Limited Time Chase Sapphire Preferred Card Bonus Categories - July 1st - September 30, 2020 Only
Chase Sapphire Preferred Card Review and Benefits:
The Sapphire Preferred card comes with excellent built-in benefits for a credit card with a low annual fee. Here are just a few:
Very few credit cards include primary car rental insurance benefits. When that coverage is secondary, as it normally is, any damage claims need to first go through your own insurance carrier - potentially raising your rates.
Since the Chase Sapphire Preferred card's coverage is primary, it takes care of any damage without involving your own insurance company.
Chase Sapphire Preferred Card DoorDash Benefits
Chase Sapphire Preferred Credit Card Airline and Hotel Transfer Partners:
The absolute best value of your Ultimate Rewards points are from transferring them to airline and hotel partners. You can transfer the points you earn on the Chase Sapphire Preferred credit card 1:1 to each of the following transfer partners.
Singapore Suites - Bookable with Ultimate Rewards points
The Suite above can be booked by transferring points to Singapore KrisFlyer (subject to award space availability). And you have a ton more options as well.
For example, you could transfer 110,000 - 120,000 points to Virgin Atlantic's Flying Club where you'd be able to book a Round Trip award in First Class from the US to Japan on ANA.
Or transfer to Hyatt, where you can often get more than 2 cents per Chase point in value, or even more when you use Hyatt points to book Suites!
On the more "practical" side, you can transfer to British Airways Avios, whose distance-based award chart means you can get outsized value from short-haul flights on both British Airways and on Oneworld partner airlines like American Airlines.
If you don't want to to learn to "work" the points transfers, you can also redeem your points in the Chase Travel Portal with each point worth 1.25 cents per point (for example, redeem 50,000 points for $625 worth of paid travel).
Best Chase Sapphire Preferred Card Combos:
Many people pair The Chase Sapphire Preferred card with a Chase Freedom Unlimited (which earns 1.5x points on everything) and a Chase Freedom (which earns 5x points on quarterly rotating categories). You'd use your Chase Sapphire Preferred card on all your travel and dining spend for the 2X bonus.
This allows you to optimize your earnings across various bonus and non-bonus spending categories. Only your Chase Sapphire Preferred card, however, will have no foreign transaction fees among these three credit cards.
Does Chase Sapphire Preferred have lounge access?
Is Chase Sapphire Preferred still worth it?
We get this question a lot. Probably because the Chase Sapphire Reserve has gotten all the airtime lately. With the $455 in additional annual fees to step up to the Sapphire Reserve, many people are now choosing to stick with the Chase Sapphire Preferred credit card.
In short, if you are pretty new to the credit card rewards game, this card is still an excellent choice. Once you are "more advanced" you will be able to better consider the cards with higher annual fees (and commensurate included perks!)
More Advice from MilesTalk
Note: You will only be approved for a Chase credit card if you have applied for fewer than 5 personal credit cards within the last 24 months from any issuer. (Business cards do not count against the total, except for Capital One and Discover, but are subject to the policy). Learn more about the 5/24 rule here.
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Chase Sapphire Preferred Card Review | Review | How to Apply
LIMITED TIME 80,000 point offer: With great transfer partners, no forex fees, and primary car rental coverage, it's a great card for those new to points.
Product SKU: CSP
Product Brand: Chase
Price Valid Until: 2020-11-08
Product In-Stock: Available