Chase Sapphire Preferred® Card Review:

The Chase Sapphire Preferred® Card is one of the most popular travel rewards credit cards on the market, offering a combination of lucrative rewards, travel perks, and flexibility that appeals to frequent travelers and everyday spenders alike.

In this review, I’ll break down the key features of the card, including its introductory offer, earning potential, travel credits, point redemption options, and travel insurance benefits. I’ve used this card to take my family on some incredible trips - I simply can’t recommend it enough!

A Generous Introductory Offer

One of the standout features of the Chase Sapphire Preferred is its impressive introductory offer. As of the time of writing, new cardholders can earn 60,000 Chase Ultimate Rewards® points after spending $4,000 on purchases within the first three months of account opening.

To put this into perspective, those 60,000 points are worth $750 when redeemed through Chase Travel℠, thanks to the card’s 25% redemption bonus for travel purchases. Alternatively, you can transfer these points to Chase’s travel partners, which include airlines and hotel chains, potentially unlocking even greater value. This sign-up bonus alone makes the card a compelling choice for anyone looking to maximize their travel rewards.

Earn Rate: Flexible Rewards for Everyday Spending

The Chase Sapphire Preferred offers a competitive earn rate across a variety of spending categories, making it a versatile card for both travel and everyday purchases. Here’s how the earn rate breaks down:

3x points on dining, including restaurants, takeout, and eligible delivery services
3x points on online grocery purchases (excluding Target, Walmart, and wholesale clubs)
3x points on select streaming services
2x points on all other travel purchases
1x point on all other purchases

This structure allows cardholders to earn points quickly, especially if they frequently spend in the bonus categories. The 3x points on dining and streaming services are particularly appealing for those who enjoy eating out or subscribing to entertainment platforms.

$50 Annual Chase Travel Hotel Credit

Another valuable perk of the Chase Sapphire Preferred is the $50 annual Chase Travel℠ hotel credit. This statement credit is automatically applied to your account annually on hotel purchases made using your card through Chase Travel.

While $50 may not seem like a huge amount, it effectively reduces the card’s annual fee of $95, bringing the net cost of the card down to $45 for cardholders who take advantage of this benefit. For frequent travelers, this credit is a nice bonus that can help offset the cost of a hotel stay.

Do note, this credit is not applied for purchases made directly with the hotel. For example, if you use your Chase Sapphire Preferred to pay for your Hyatt bill while at the desk, you won’t receive the $50 hotel credit. Rather, if you book the Hyatt hotel through Chase Travel℠, then you should receive the $50 in a few weeks as a statement credit.

Redeeming Points Through Chase Travel℠

Chase Ultimate Rewards® points are known for their flexibility, and the Chase Sapphire Preferred enhances their value when redeemed through the Chase Travel℠ portal. When you use your points to book travel through the portal, they are worth 25% more, meaning 10,000 points are worth $125 instead of the standard $100.

The portal allows you to book flights, hotels, car rentals, and more, making it a one-stop shop for travel planning.

Transferring Points: Unlocking Maximum Value

One of the most powerful features of the Chase Sapphire Preferred® Card is the ability to transfer your Chase Ultimate Rewards® points to a variety of travel partners at a 1:1 ratio. This means that for every 1,000 Chase points you transfer, you’ll receive 1,000 points or miles in the partner’s loyalty program (assuming there’s no transfer bonus). This feature is ideal for travelers who want to maximize the value of their points by leveraging airline and hotel loyalty programs.

Chase has partnered with several leading airlines and hotel chains, giving cardholders access to a wide range of redemption options. Here’s a list of Chase’s current transfer partners:

Hotel Partners

IHG One Rewards
Marriott Bonvoy
World of Hyatt

Maximizing Value with Transfers

To get the most out of your points, it’s worth researching the best redemption options for your travel plans. For example:

Use award search tools to identify high-value redemptions
Look for promotions or bonus offers from Chase’s transfer partners, which can sometimes provide additional value (eg 30% bonus on transferred points)

Travel Insurance Benefits: Peace of Mind While Traveling

The Chase Sapphire Preferred is well-regarded for its robust travel insurance benefits, which provide cardholders with peace of mind when booking trips. These benefits include:

Trip Cancellation/Interruption Insurance: If your trip is canceled or cut short by sickness, severe weather or other covered situations, you can be reimbursed up to $10,000 per covered traveler and $20,000 per trip for your pre-paid, non-refundable travel expenses, including passenger fares, tours, and hotels
Primary Auto Rental Collision Damage Waiver: Decline the rental company's collision insurance and charge the entire rental cost to your card. Coverage is primary and provides reimbursement up to $60,000 for theft and collision damage for most rental vehicles with an MSRP of $125,000 or less
Travel Delay Reimbursement: If your common carrier travel is delayed more than 12 hours or requires an overnight stay, you are covered for unreimbursed expenses, such as meals and lodging, up to $500 per covered traveler
Baggage Delay Insurance: Reimburses you up to $100 a day for up to 5 days for essential purchases like toiletries and clothing when baggage is delayed over 6 hours

Final Thoughts: Is the Chase Sapphire Preferred Right for You?

This card is a well-rounded travel rewards card that offers significant value for its $95 annual fee. Between the generous sign-up bonus, competitive earn rate, $50 annual hotel credit, flexible redemption options, and comprehensive travel insurance benefits, it’s easy to see why this card is a favorite among travelers.

If you’re someone who spends heavily in travel, dining, or streaming categories and wants a card that offers both rewards and protection, the Chase Sapphire Preferred is worth considering. Its combination of perks and flexibility makes it a strong contender in the travel rewards space.

Chase Sapphire Preferred® Card Review

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