Chase Sapphire Preferred Card: Full Review (2021)
Sapphire Preferred 100K

The Chase Sapphire Preferred® Card is the No. 1 Travel Card Right Now

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For years, we’ve considered the Chase Sapphire Preferred® Card the best travel rewards credit card for beginners. But the pandemic has changed that. Now, we think it’s the best travel credit card, period.

After a recent update with new benefits and a welcome bonus of 60,000 Chase Ultimate Rewards points after you spend $4,000 in the first three months with the card, it’s a no-brainer. Those points will be worth a minimum of $750 towards travel. It’s also relatively cheap with an annual fee of $95. Plus other benefits like travel and rental car insurance should make it a mainstay in any traveler’s wallet.

Whether you’re ready to travel right now or looking to earn points for travel later, we don’t think you can do better than the Chase Sapphire Preferred.

Here’s why.

 

chase sapphire preferred card

 

Click Here to get more information about the Chase Sapphire Preferred Card. 

 

Chase Sapphire Preferred® Card Overview

  • Welcome Bonus: 60,000 Chase Ultimate Rewards points after spending $4,000 in the first three months of card membership.
  • 3x points per dollar spent on dining, including eligible delivery services
  • 3x points per dollar spent on online grocery purchases (excluding Target, Walmart, and wholesale clubs)
  • 3x points per dollar spent on select streaming services
  • 2x points per dollar spent on travel purchases
  • Earn up to $50 in statement credits each account anniversary year for hotel stays purchased through the Chase Ultimate Rewards Travel Portal
  • Earn 5x total points on travel purchased through the Chase Travel Portal, excluding hotel purchases that qualify for the $50 Anniversary Hotel Credit.
  • Earn 5x points per dollar spent on Lyft rides through March 2022.
  • $60 Peloton credit: Through December 2021, get up to $60 toward Peloton Digital or All-Access memberships.
  • Recommended Credit Score: Excellent/Good
  • Foreign Transaction Fees: None
  • Annual Fee: $95

 

No Huge Annual Fees

The top travel cards on the market don’t come cheap. The Chase Sapphire Reserve®, the Preferred’s bigger sibling, now costs $550 per year. And the Platinum Card® from American Express now charges $695 each year (see rates & fees).

That makes the Chase Sapphire Preferred look like a bargain in comparison. Its annual fee clocks in at just $95 per year.

With the ability to earn 60,000 Chase Ultimate Rewards points after spending $4,000 in the first three months, you can easily come out way ahead on that annual fee.

 

Big Points Bonus on the Chase Sapphire Preferred Card

What’s better than 60,000 Chase Ultimate Rewards points? Not much. Although the record-setting 100k point offer from earlier this year is no longer available, 60,000 points are nothing to scoff at.

Critically, that’s 10,000 more points than you get for the same spending on the far-more-expensive Chase Sapphire Reserve®.

This bonus alone is worth at least $750 toward travel when you book through the Chase Ultimate Rewards travel portal – one of our favorite ways to book flight deals for free. And you can squeeze even more out of them by using some of Chase’s travel partners.

Read: Our Master Guide to Earning & Burning Chase Ultimate Rewards Points

For just 50,000 points, you could book a one-way flight to Europe in Delta One suites. It’s one of our favorite ways to use this bonus. Read our guide on how to book Delta flights with Virgin Atlantic miles which can be transferred from Chase Ultimate Rewards.

 

Book Delta with Chase Sapphire Preferred card

 

You’d have almost enough points after one bonus to book round-trip flights to Europe in Iberia business class. Or book a handful of domestic flights with United or Southwest.

Bottom line: You’ve got a lot of options. And if you’re earning points now for travel later, keeping your options open is key.

 

Easy-to-Use Points

There are plenty of great ways to use a big bonus from the Chase Sapphire Preferred Card. But sometimes, simplicity is best.

That’s why the Chase travel portal is one of our favorite ways to put points to use. While you might get more value by using Chase transfer partners, this is the easiest way to take a cheap flight and make it free. Plus, you can book flights on almost any airline.

It works like this: Find a good deal using Google Flights, here on our site, or with your Thrifty Traveler Premium membership. The cheaper the flight, the fewer Chase points you’ll need to book it. And with the Chase Sapphire Preferred Card, you get a bonus: Every point is worth 1.25 cents toward travel.

That means you can book this $96.80 flight from Minneapolis-St. Paul (MSP) to Las Vegas (LAS) using less than 7,800 Chase points, for example.

 

chase sapphire preferred

 

There’s really no easier way to put these points to use. Unlike booking with airline miles, you won’t be on the hook for additional taxes and fees – this is one of the only ways to book travel completely free. And you’ll even earn miles and elite status on your flight, to boot.

 

Versatility is King

What’s that saying about putting all your eggs in one basket?

COVID-19 has hammered the travel industry. And throughout the pandemic, travelers have hoarded their miles – and airlines and credit card companies have flooded the market with even more points and miles through massive bonus offers.

It isn’t sustainable, and throughout 2021, we have seen airlines like Delta and Virgin Atlantic start charging more for award redemptions. Hyatt has started peak and off-peak award pricing for stays starting in March 2022.

There’s an easy way to limit your risk: Rather than earning miles with just one airline, focus on earning flexible points. And that’s an area where Chase shines.

You’ve got the ability to book with almost any airline through the Chase travel portal. There are more than 10 airlines and three hotel chains to which you can transfer your points.

 

ProgramTypeTransfer RatioTransfer Time
Aer LingusAirline1:1Instant
Air Canada AeroplanAirline1:1Instant
Air France/KLMAirline1:1Instant
British AirwaysAirline1:1Instant
EmiratesAirline1:1Instant
Iberia PlusAirline1:1Instant
JetBlueAirline1:1Instant
Singapore AirAirline1:112-24 hours
Southwest AirlinesAirline1:1Instant
United AirlinesAirline1:1Instant
Virgin AtlanticAirline1:1Instant
World of HyattHotel1:1Instant
IHGHotel1:11 day
Marriott RewardsHotel1:12 days

 

You’ve simply got more options at your disposal. Not only does that give you more freedom to find the best deal – but it also limits your risk. And as you’ll see, you can now use those points for everyday expenses.

 

Use Chase Sapphire Preferred Points for More than Just Travel

As COVID-19 ravaged travel, banks scrambled to give credit cardholders more value and new, non-travel benefits. Think reduced annual fees, credits for specific purchases, bonus earning on groceries and restaurants, and more.

Chase’s answer was to give you new, flexible ways to use your Chase Ultimate Rewards points. It’s called Pay Yourself Back, and it allows you to use points to cover purchases at a rotating set of spending categories. From May 2020 through Sept. 2021, spending at grocery stores, home improvement stores, restaurants, food delivery platforms, and even Target stores could be removed from your statement. When you use points from your Chase Sapphire Preferred to Pay Yourself Back, they’re worth 1.25 cents each – the same as when you redeem them for travel.

But as of Oct. 1 and running through March 2022, Chase Sapphire Preferred® Card and Chase Sapphire Reserve® Cardholders can now redeem Chase Ultimate Rewards points at Airbnb and for purchases with Away Luggage. Sapphire Reserve cardholders continue to have access to dining transactions as a Pay Yourself Back benefit as well.

Read More: How to Use Chase Ultimate Rewards Points to Book an Airbnb Stay
 

 

 

Not Loaded with Top-Dollar Travel Benefits

Scan the list of the Chase Sapphire Preferred card’s benefits. Not bad, right?

Compare it to the Chase Sapphire Reserve, and there’s no denying which card is packed with more perks that frequent travelers love. That’s why the Reserve has a much higher price tag, after all. The same is true for the Platinum Card® from American Express.

Travel is coming back. So maybe airport lounge access and a Global Entry credit are worth paying a much larger annual fee.

But when Chase overhauled the benefits on the Sapphire Preferred earlier this year, they did so without raising the card’s $95 annual fee – something that is rarely done in the world of travel rewards credit cards.
 

JFK centurion Lounge 

Keep in mind that you could always start with the Chase Sapphire Preferred®, getting more points at a lower price point. When the right time comes, you could upgrade to the Chase Sapphire Reserve – getting all the extra perks and the ability to redeem your points for even more value.

Related: 5 Underrated Chase Sapphire Preferred Benefits You Should Be Using
 

chase sapphire preferred 100k bonus

 

Pair Chase Sapphire Preferred with the Freedom Flex or Freedom Unlimited Card

If you hold a Chase Sapphire Prefered Card, there’s an easy way to level up your points-earning on even more of your spending.

It’s possible thanks to two popular no-annual-fee cash back credit cards from Chase: The Chase Freedom Unlimited® and the Chase Freedom Flex.

While these cards typically earn cashback, you can turn that cash into Ultimate Rewards points so long as you also hold a Chase Sapphire card. When you do, 1 cent gets you 1 point. And that’s significant because both cards earn bonus cashback in a number of categories that are not covered by the Chase Sapphire cards.
 

under the chase 5/24 rule 

You can learn more about the Chase Freedom Flex vs Freedom Unlimited here to decide which one is right for you. And make sure to check out our post on how you can earn a quick 180,000 point bonus with just two credit cards.

 

Bottom Line

The Chase Sapphire Preferred® Card has been a standout option for travelers for years – especially beginners. But with much travel on hold for the last year and a half, we were convinced it’s the best card – period – if you’re in the market for a card to earn points. At least for now, premium, many expensive travel rewards cards still make far less sense.

Add in the current 60,000 point bonus for spending $4,000 in the first three months of card membership, and it’s as close to a slam dunk as you’ll find if you’re looking for a great travel credit card at a low price.
 

chase sapphire preferred
 

Click here to get more information about the Chase Sapphire Preferred® Card. 
 

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

2 Responses

  • I got my Chase Sapphire Reserved Card in July 2018. How long do I have to wait before I qualify to get the bonus for the Chase Sapphire Preferred

    • Hi Nadeem, Chase will not allow you to earn the bonus on the card if you have earned it within the last 48 months on either Sapphire Card. You would be eligible to earn it again in July of 2022.

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