Get The Most Value For Your Travel Rewards with the Chase Sapphire Preferred® Card

By Jason Steele. Last updated 17 May 2017. 3 comments

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I have to confess, I felt kind of sleazy when I applied for this card. It offered a great sign-up bonus and I couldn't pass it up. Yet more than a year later, I continue to use the card regularly. So what is it about the Chase Sapphire Preferred® Card that made me think of it less like a one-night stand and more like a long-term relationship?

How This Card Works

This card delivers its rewards in the form of Chase's Ultimate Rewards points. Earn 2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases worldwide. It has an introductory annual fee of $0 the first year, then $95.

Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $625 in travel when you redeem through Chase Ultimate Rewards®. Plus, earn 5,000 miles if you add an authorized user and make a purchase also within the first three months of account opening. These bonus points can be transferred to miles or points with partner airlines or hotel chains. (See also: Best Credit Cards that Offer Bonus Cash for Sign Up)

The Real Value of Sapphire Is Points Transfers

Frankly, it's the points transfer option that I use most, as I find far more value in each point than the 1.25 cents I get from booking travel directly through Chase. While other travel rewards credit cards allow points transfer, many do not offer a 1:1 transfer rate. The bonus of 50,000 Chase Ultimate Rewards points equal 50,000 partner miles or points with partners including Southwest Airlines, British Airways, United Airlines and more. You do have the option to also redeem your points for cash, travel, gift cards, and merchandise. (See also: Best Credit Cards that Transfer Points to Miles)

In addition to partner airlines, Sapphire Preferred points can be transfered to partner hotels. I find the Hyatt transfer option the best, considering that an award night at their most expensive properties, including many that cost over $1,000 per night, is a mere 22,000 Hyatt points. Other hotel partners include IHG, Marriott, and Ritz-Carlton. (See also: Best Credit Cards that Transfer Points to Hotels)

Travel and Purchase Protections Included

This card also includes valuable benefits, which can help save you money, protect your purchases, and travel more comfortably. Some of the additionalbenefits you get just for being a cardholder and using your card for your purchases include the following:

  • Trip Cancellation/Trip Interruption Insurance
  • Auto Rental Collision Damage Waiver
  • Baggage Delay Insurance 
  • Trip Delay Reimbursement 
  • Purchase Protection
  • Price Protection
  • Return Protection
  • Extended Warranty Protection

Great for International Travel

There is a $0 foreign transaction fee when I use this card internationally, which can save as much as 3% on foreign purchases. (See also: Best Credit Cards with No Foreign Transaction Fees)

Costs

  • $0 Intro fee for the first year. $95 after that.
  • 16.74%-23.74% Variable APR
  • Balance Transfer Fee: 5% ($5 Minimum).
  • $0 Foreign Transaction Fee

Considerations

Annual fee. While the fee is $0 the first year, the subsequent $95 annual fee is significant if you aren't able to earn enough rewards each year that covers the cost of the card. You should spend enough in travel and dining to take advantage of the bonus points, and be able to use the points to book travel through Chase or transfer to one of their partners. (See also: Best No Annual Fee Credit Cards)

Who This Card Is Best For

This is an extremely popular travel rewards card, for good reason. Each Sapphire Preferred point is worth at least 1.25 cents, but really, they're worth a lot more when used to redeem for award flights at partner airlines or free stays at premium hotels. 

Click here to learn more and apply for the Chase Sapphire Preferred® Card today!

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Get The Most Value For Your Travel Rewards with the Chase Sapphire Preferred Card


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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.

Guest's picture
Christine@FitnessKings

This article was very intriguing. The transfers are AMAZING!! One thing that stuck out to me was the transfer of points to Southwest Airlines. I love to travel so this was very insightful!!

Guest's picture

Wow, I've never heard of another card that allows you to transfer bonus points, that's pretty cool! Sign-up bonus of $500 plus the card is more aesthetically pleasing than any other I've seen- that's enough reason for me! Haha, cool article.

Guest's picture

The sign-up bonus is very enticing. I hope this campaign will be successful. My family loves to travel; however, we prefer local trips and travelling by land so I guess it will not be rewarding to us.