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Chase Sapphire Preferred review: A standout travel card with impressive perks

7 min read

Whether you just learned about travel credit cards on TikTok or are a seasoned pro at using rewards to reduce vacation costs, the Chase Sapphire Preferred? card is an excellent option to help you save on travel. It has a generous rewards program and new cardmember bonus and, if you use your card to book your airfare and accommodations, it also provides you with significant protections and added benefits.

However, the card has an annual fee and no promotional annual percentage rate (APR) for purchases or balance transfers. Whether the Chase Sapphire Preferred card would be a worthwhile addition to your wallet depends on your spending and travel habits.

  • Annual fee
    $95
  • Welcome offer
    Earn 60,000 bonus points after spending $4,000 on purchases in the first 3 months (that's $750 when you redeem through Chase Travel?)
  • Card type(s)
    Travel
  • Ongoing Purchases APR
    21.49% - 28.49% Variable
  • Recommended credit score
    Excellent/Good
  • Rewards rate
    • 5x points on travel purchased through Chase Travel
    • 3x points on dining, select streaming services, and online groceries
    • 2x points on all other travel purchases
    • 1x points on all other purchases
  • Benefits
    • Points are worth 25% more when you redeem for airfare, hotels, car rentals and cruises through Chase Travel
    • Earn up to $50 in annual statement credits for hotel stays purchased through Chase Travel
    • On every account anniversary, earn bonus points equal to 10% of your total purchases made the previous year

More details: $50 annual hotel credit, 25% higher redemption value when you use points to book travel through Chase, and perks at partners like DoorDash, Instacart, Lyft, and Peloton.

Learn more: See our picks for the best travel credit cards

You’ll earn an annual $50 credit after booking a hotel through Chase Travel. Maxing out that perk alone essentially cuts the annual fee in half.

In addition, you earn bonus points on your account anniversary each year. Get a bonus equal to 10% of your spending over the last 12 months. If you spent $20,000 on the card last year, for example, you’ll get a 2,000-point anniversary bonus.

The Chase Sapphire Preferred Card is an excellent card to take with you when you travel. It doesn't charge foreign transaction fees, making it especially useful if you're traveling outside of the U.S. Plus, it provides the following travel benefits:

  • Trip cancellation/interruption insurance: If you use your card to pay for your travel and your trip is canceled or interrupted due to weather, illness, or other covered events, you'll be reimbursed up to $10,000 per person and up to $20,000 per trip for non-refundable expenses like fares and hotel stays.

  • Baggage delay insurance: If your baggage is delayed by six hours or more when traveling by a passenger carrier, get reimbursed up to $100 per day for up to five days.

  • Auto rental collision damage waiver: The card provides primary coverage against theft or collision damage if you decline the car rental company's insurance and pay for the entire cost with your card.

  • Trip delay reimbursement: If your travel on a common carrier is delayed by 12 hours or more, the card will reimburse you for food and lodgings, up to a maximum of $500 per ticket.

  • Travel and emergency assistance: If you need help while traveling, you can call a benefits administrator for legal and medical referrals, but you're responsible for the cost of any services provided.

The Sapphire Preferred also provides the following benefits:

  • Purchase protection: New purchases made with the card are covered against theft or damage for up to 120 days for up to $500 per claim and $50,000 per account.

  • Extended warranty: On purchases with warranties of three years or less, the card will extend the warranty.

  • Partner benefits: For a limited time, you can take advantage of the following:

    • 5x points on Lyft rides through March 31, 2025

    • 5x points on purchases of $150 or more of Peloton equipment (up to a maximum of 25,000 points) through March 31, 2025

    • Six months of complimentary membership to Instacart+ if you enroll by July 31, 2024

    • Get a minimum of one-year complimentary DoorDash membership and take advantage of $0 delivery fees if you enroll by Dec. 31, 2027

You’ll earn points on every purchase you make with the Sapphire Preferred Card. However, you can maximize your earnings by booking travel like flights, hotels, and rental cars through Chase — this nets you 5x points, compared to the 2x points you earn when booking elsewhere.

In addition, dining will net you 3x points, whether you dine in a restaurant, drop in for takeout, or order through an eligible delivery service. If you frequently purchase groceries online, you could also reap larger rewards. However, popular retailers like Target or Walmart don’t qualify.

You don’t earn rewards on any credits, cash advances, or balance transfers.

The Chase Ultimate Rewards program offers several ways to cash in your points, offering more flexibility than some other cards. But, using your points to book travel through Chase or transferring them to a loyalty program partner can maximize your point value.

If you redeem your points through Chase Travel, you’ll receive a 25% bonus on your points’ value. But if you don’t find what you’re looking for there, you can transfer your points directly to a partner airline or hotel. Points transfer at a 1:1 ratio to over a dozen travel partners.

In addition, you can cash in your points via:

  • Cash back

  • Statement credits

  • Credits for qualifying purchases

  • Gift cards

  • Amazon and Apple purchases

  • Bookings made through Chase Experiences or Chase Dining

While frequent travelers should easily recoup their costs with the rewards they earn, you don’t need to travel every month to get good use out of the Sapphire Preferred. Even occasional vacationers can come out ahead with a little planning. Add in the card’s numerous other perks, including an annual $50 hotel credit, and it’s easy to see how many people could use this card to their advantage.

However, if you rarely travel or don’t often spend in the card’s bonus reward categories, you may not have much use for this card. The same goes for applicants who aren’t eligible for the welcome bonus or who might struggle to meet the spending requirement necessary to earn it. If you fall into any of these categories, you may have to work a little harder to make this card worthwhile.

  • Competitive earning categories: This card offers solid rewards for both travel and everyday categories. If you can maximize these on a regular basis, you could quickly rack up points.

  • Bonus redemption value: Redeeming your points through Chase Travel offers a 25% bonus in your points’ value. That means you can stretch your rewards farther and get more bang for your buck.

  • Transfer partners: If you prefer to book travel directly with the provider, it’s easy to transfer your points to more than a dozen airline and hotel partners. Doing so could increase the value of your rewards even more, depending on what you redeem them for.

  • Travel protections: Frequent travelers may be put at ease by the Sapphire Preferred’s ample travel insurance and reimbursement opportunities. Notably, the card offers primary rental car coverage; many travel cards only offer secondary coverage for rentals, meaning any claims must go through your personal car insurance first before the card’s insurance will kick in.

  • No promotional APR: Unlike many cards, the Sapphire Preferred doesn't have a promotional APR offer on purchases or balance transfers.

  • Annual fee: While there are many rewards cards without annual fees, this card has a $95 annual fee. Make sure the rewards and perks you earn outweigh that cost.

  • High-value redemption options may be limited: You must redeem your points for travel through Chase or transfer points to a travel partner to get the most value for your rewards. Other redemption methods, such as gift cards or statement credits, give you less value for your points.

The Chase Sapphire Preferred Card is a Visa card, meaning it belongs to the largest credit card network. It's accepted by most physical and online retailers.

You can make a payment online, through the Chase mobile app, over the phone or by mail:

  • Online or in-app: Visit chase.com/paycard or download the Chase app and log into your account to make a payment via a linked checking or savings account.

  • Phone: You can make a payment 24 hours a day, seven days per week, through Chase's automated phone line at 1-800-436-7958.

  • Mail: Mail a check or money order to the following address:
    Cardmember Services
    P.O. Box 6294
    Carol Stream, IL 60197-6294

To get help with your account, contact customer support through the following methods:

  • Annual fee
    $39
  • Welcome offer
    None
  • Card type(s)
    Cash-back
  • Purchase APR
    29.99% variable
  • Recommended credit score
    Excellent, Good
  • Rewards rate
    • 5% cash back on hotels and rental cars booked through Capital One Travel
    • 1.5% cash back on all other purchases
  • Benefits
    • Be automatically considered for a higher credit line in as little as 6 months
    • Enjoy up to 6 months of Uber One membership statement credits (through 11/14/2024)
    • Get unlimited access to your credit score and access tools to help you monitor your credit profile with CreditWise

Why we like it: The Quicksilver Cash Rewards card stands out for its straightforward 1.5% cash back on all purchases, offering simplicity compared to the Chase Sapphire Preferred's category-based reward system. With no annual fee, it’s also a more cost-effective option for those who prefer a hassle-free experience. Additionally, its flexible redemption options, allowing cash back to be redeemed in any amount at any time, provide greater accessibility and convenience for users.

  • Annual fee
    $550
  • Welcome offer
    Earn 60,000 bonus points after spending $4,000 in the first 3 months (that's $900 toward travel when you redeem through Chase Travel?)
  • Card type(s)
    Travel
  • Ongoing Purchases APR
    22.49% - 29.49% Variable
  • Recommended credit score
    Excellent
  • Rewards rate
    • 10x points on hotels and rental cars purchased through Chase Travel*
    • 5x points on flights purchased through Chase Travel*
    • 3x points on dining and other travel purchases
    • 1x points on all other purchases
    • *After the first $300 is spent on travel purchases annually
  • Benefits
    • Points are worth 50% more when you redeem through Chase Travel
    • Earn up to $300 in annual statement credits for travel purchases
    • Receive up to a $100 statement credit every four years to cover the application fee for Global Entry, TSA PreCheck, or NEXUS

Why we like it: The Chase Sapphire Reserve offers significantly higher rewards, particularly with its 3x points on travel and dining worldwide, compared to the Sapphire Preferred's 2x points in these categories. Its inclusion of a $300 annual travel credit — the first $300 spent goes toward the $300 annual travel credit — effectively offsets a substantial portion of the higher annual fee, making it more valuable for frequent travelers. Additionally, the Reserve provides superior travel benefits like access to over 1,300 airport lounges worldwide through Priority Pass Select, enhancing the overall travel experience.

  • Annual fee
    $0
  • Welcome offer
    Earn a $200 statement credit after spending $2,000 within the first 6 months
  • Card type(s)
    Cash-back
  • Ongoing Balance Transfer APR
    19.24% - 29.99% Variable
  • Introductory Purchases APR
    0% on purchases for 15 months
  • Introductory Balance Transfer APR
    0% on balance transfers for 15 months
  • Ongoing Purchases APR
    19.24% - 29.99% Variable
  • Recommended credit score
    Excellent, Good
  • Rewards rate
    • 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%)
    • 3% cash back on U.S. online retail purchases (on up to $6,000 per year in purchases, then 1%)
    • 3% cash back at U.S. gas stations (on up to $6,000 per year in purchases, then 1%)
    • 1% cash back on all other purchases
    • Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or on Amazon.com at checkout
  • Benefits
    • 0% intro APR on purchases and balance transfers for the first 15 months
    • Get a $7 monthly statement credit after spending $9.99 or more on a streaming subscription to the Disney Bundle, plus earn up to $15 in monthly statement credits after purchasing a Home Chef subscription

Why we like it: The Blue Cash Everyday Card from American Express is appealing for its strong cash-back rates in everyday spending categories, offering 3% at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). This is more beneficial for typical shoppers compared to the Sapphire Preferred, which only offers bonus grocery rewards for online orders.

It also stands out with a $0 annual fee, making it a cost-effective choice for budget-conscious consumers. Plus, the card’s introductory 0% APR on purchases and balance transfers for the first 15 months is a significant perk that the Sapphire Preferred doesn’t offer (see rates and fees).

 

This article was edited by Alicia Hahn

Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to the author(s) and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information. This site doesn't include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.