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The Chase Sapphire Preferred Card is a premium rewards credit card that is designed for travelers and foodies who are looking to earn rewards and take advantage of a variety of benefits.
Whether you're looking to earn points on your dining and travel expenses, redeem your points for travel, or take advantage of travel and purchase protections, this card has a lot to offer. With a sign-up bonus, a variety of earning and redeeming options and transfer partners, this card can be a great option for those looking to maximize their rewards.
However, it's important to consider the annual fee, APR, and other terms and conditions before applying for this card to ensure it aligns with your financial goals and spending habits.
Main Benefits Of The Chase Sapphire Preferred Card
The Chase Sapphire Preferred Card offers a wide range of benefits and rewards that can make it a great option for frequent travelers and foodies. Here are some of the main benefits of the card:
Earn Points On Travel And Other Spending
The Chase Sapphire Preferred Card offers 5x total points on travel purchased through Chase Ultimate Rewards, 3x points on dining and online grocery purchases and 2x on other travel purchases. Plus, earn 1 point per dollar spent on all other purchases .
The card offers a sign-up bonus of 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
This is one of the highest sign-up bonuses currently available for a rewards credit card and can be a great way to get a head start on earning rewards.
The card allows cardholders to redeem points for travel through Chase Ultimate Rewards at a 1:1 ratio, and get 25% more value when redeeming points for travel.
This means that if you redeem your points for travel through Chase Ultimate Rewards, each point is worth 1.25 cents. Additionally, cardholders can also redeem their points for cashback, gift cards, and other merchandise, however, the value of the points is lower when used in this way.
They also have access to exclusive experiences and events through Chase Experiences.
The card allows cardholders to transfer their points to a variety of travel partners, such as airlines and hotels, at a 1:1 ratio. This can be a great way to get even more value out of your points, especially if you have a preferred airline or hotel program.
Some of the travel partners that you can transfer your points to include United Airlines, Southwest Airlines, Marriott, and Hyatt.
The card offers a variety of travel and purchases protections, such as trip cancellation and interruption insurance, and extended warranty protection. This can provide peace of mind when traveling, as well as protect your purchases in case they are lost, stolen, or damaged.
Additionally, the card also offers purchase protection, which covers your purchases in case they are lost, stolen, or damaged within 120 days of purchase.
The card doesn't charge any foreign transaction fees, which can save you money when traveling abroad.
This is a great feature for anyone who frequently travels outside of the United States, as it can help to minimize the additional fees that are often associated with using a credit card abroad.
In the event that a cardholder's baggage is delayed for more than six hours, the Sapphire Preferred Card offers baggage delay insurance to cover necessary expenses.
The Sapphire Preferred Card offers primary rental car insurance, which means cardholders do not have to file a claim with their personal auto insurance first in the event of an accident.
On Chase Secure Website
On Chase Secure Website
20.49% - 27.49% variable APR
Balance Transfer Fee
5% or $5, whichever is greater
Good – Excellent
How to Maximize Chase Sapphire Preferred Card Benefits?
How To Get A Chase Sapphire Preferred Card?
To get a Chase Sapphire Preferred Card, you can follow these steps:
- Check your eligibility: Before applying for the card, make sure you meet the credit requirements and don't have any recent bankruptcies or defaults on your credit report. You can check your credit score for free using Chase's Credit Journey tool.
- Gather the required information: To apply for the card, you will need to provide your personal information, such as your name, address, and social security number, as well as your employment and income information.
- Apply online: You can apply for the Chase Sapphire Preferred Card online by visiting the Chase website and filling out the online application form. The application process typically takes around 15-20 minutes to complete.
- Wait for approval: Once you submit your application, Chase will review it and determine if you are approved for the card. This process can take several days, but you will be notified of the decision via email or mail.
- Activate your card: Once you are approved for the card, you will receive it in the mail. You will need to activate the card by calling the number provided or by visiting the website mentioned on the letter.
- Start using your card: Once your card is activated, you can start using it to make purchases and earn rewards. Keep in mind that to qualify for the sign-up bonus, you will need to spend $4,000 on purchases in the first 3 months from account opening.
- Enjoy the benefits: Enjoy the benefits of the card, such as earning rewards, redeeming points, and taking advantage of travel and purchase protections.
It's worth noting that Chase has a policy called “5/24” which means that if you have opened 5 or more credit card accounts in the last 24 months, you will likely be denied the application, this policy is applied to most of their cards not only the Sapphire Preferred.
How does the Sapphire Preferred Card compare to other travel rewards credit cards?
The Sapphire Preferred Card is considered to be one of the top travel rewards credit cards on the market. It offers a generous sign-up bonus, solid earning potential, and a wide variety of redemption options. Here are some comparisons you can make:
- Chase Sapphire Preferred vs. Reserve: Which is Better?
- Blue Cash Preferred Card from American Express vs.Chase Sapphire Preferred Card
Is there a limit to the number of points I can earn?
There is no set limit to the number of points you can earn with the Sapphire Preferred Card. However, there may be limits on certain types of purchases or categories, such as the points per dollar earned on travel and dining purchases.
Additionally, there may be caps on how many points you can earn through sign-up bonuses or other promotional offers.
Are there any restrictions on using my Sapphire Preferred Card rewards?
Yes, there are some restrictions on using the rewards earned with the Sapphire Preferred Card:
Rewards must be redeemed through the Chase Ultimate Rewards program, which includes options such as statement credits, travel, and gift cards.
Rewards cannot be transferred to other accounts or used to pay credit card balances.
Some travel rewards may have blackout dates or capacity controls, meaning they may not be available during certain times or for certain flights.
Some rewards may be subject to taxes or fees, depending on the type of redemption.
You can redeem your points for cash back, gift cards, travel and more, but you need to have at least 2,500 points to redeem them.
Are there any special offers or promotions currently available?
As of April 2023, new cardholders can get 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.