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Chase Sapphire Preferred Card

The Chase Sapphire Preferred Card is one of the most valuable rewards credit cards. It offers 50,000 bonus points after spending $4,000 in the first 3 months and up to 2x points on everyday purchases.

The Chase Sapphire Preferred Card is without question an elite credit card. It’s one of my personal favorites. It offers bonus points worth $625 in travel when redeemed through Chase Unlimited Rewards. The card also offers 2x in points on dining at restaurants and travel, and 1x point on all other purchases. Add to that no foreign transactions fees, and this card is THE card for those who love to travel.

Chase Sapphire Preferred Card Snapshot

  • Receive 50,000 bonus points when you spend $4,000 on purchases in the first 3 months from account opening. 50k points are worth $625 in travel when you redeem through Chase Ultimate Rewards
  • 2X points on travel and dining at restaurants
  • 1 point per dollar spent on all other purchases
  • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
  • $0 foreign transaction fees
  • 1:1 point transfer to leading frequent travel programs at full value
  • Introductory Annual Fee of $0 the first year, then $95

Rewards Program

The rewards program includes both bonus points and points earned on everyday purchases. Let’s review both:

Bonus Points

The card gets a lot of attention for its 50,000 bonus points. Here’s how it works. If you spend $4,000 within your first 3 months of opening your account, Chase will give you 50,000 rewards points.

Normally these points would be worth $500. If you use the points for travel through Chase Ultimate Rewards, however, you get a 20% off. This effectively increases the value of the 50,000 points to $625. This is one of the largest signup bonuses available on any credit card.

There’s also a second bonus that many don’t know about. You can earn an additional 5,000 points after you add the first authorized user and make a purchase in the first 3 months from account opening.

Everyday Points

In addition to the bonus points, you’ll earn 2x points for every dollar charged to the card on dining at restaurants and on travel. You’ll earn  1 point per dollar on everything else.  There are no reward caps.

Using Points

You can of course redeem points for travel purchased with the Chase Sapphire Preferred Card. As noted above, travel purchased through Chase Ultimate Rewards qualifies for 20%, thus extending the value of the points.

Here’s how Chase describes this discount:

Each point you redeem for travel booked through Ultimate Rewards is worth $.0125 (one and a quarter cents), which means that 100 points is worth $1.25 in redemption value. This is like getting a 20% discount on travel you get with points when compared to the cash price. For example, a $500 airline ticket will only cost you 40,000 points. You would need 50,000 points to get $500 in cash through Ultimate Rewards and 40,000 points is 20% less than 50,000. The cost of travel and comparison of the points price and cash price is based on the rates and fares available through the Ultimate Rewards website and travel center, and may not reflect all rates and fares that are available through other sales channels.

A big bonus comes in the form of transfers. You can transfer your points at full value to any of these Chase partners:

  • British Airways Executive Club
  • Korean Air SKYPASS
  • Singapore Airlines KrisFlyer
  • Southwest Airlines Rapid Rewards®
  • United MileagePlus®
  • Virgin Atlantic Flying Club
  • Hyatt Gold Passport®
  • IHG® Rewards Club
  • Marriott Rewards®
  • The Ritz-Carlton Rewards®.

Other Perks

The Chase Sapphire Preferred Card offers several additional benefits:

  • Chip-Enabled Security: Enjoy enhanced security and wider acceptance with your chip-enabled card when used at a chip card reader
  • $0 Foreign Transaction Fees: Pay no foreign transaction fees when you use your card on purchases made outside of the United States
  • 1:1 Point Transfer: Transfer points to participating frequent travel programs at full value. For example, 1,000 Chase Ultimate Rewards points equal 1,000 partner miles/points
  • Exclusive Events & Experiences: Access special travel opportunities and exclusive events available to cardmembers.  Explore VIP packages to major culinary, entertainment and sporting events, from the 2016 PGA Championship to exclusive dining with acclaimed chefs

What we like about the Chase Sapphire Preferred Card

  • 50,000 bonus rewards points for new customers
  • 2X points on dining and travel
  • $0 Foreign Transaction Fees
  • 20% off travel redemption

What could be better

  • Intro Annual Fee $0 the first year, then $95
  • Requires Excellent Credit
    Excellent Credit
    Credit cards for excellent credit are
    intended for those with a credit score of 700 or Higher.
    Get Your Free Score

Summary

  • Receive 50,000 bonus points when you spend $4,000 on purchases in the first 3 months from account opening. 50k points are worth $625 in travel when you redeem through Chase Ultimate Rewards
  • 2X points on travel and dining at restaurants
  • 1 point per dollar spent on all other purchases
  • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
  • $0 foreign transaction fees
  • 1:1 point transfer to leading frequent travel programs at full value
  • Introductory Annual Fee of $0 the first year, then $95
  • Regular Purchase APR: 15.99%
  • Penalty APR: None
  • Annual Fee:Intro Annual Fee $0 the first year, then $95
  • Late Payment Fee: See Pricing & Terms
  • Foreign Transaction Fee: $0
  • Ideal for those looking for a card that provides rewards points on all purchases
  • Offers 1:1 points transfer to leading frequent travel programs at full value
  • Well suited for those who frequently travel internationally with $0 foreign transaction fees
  • Requires Excellent Credit
    Excellent Credit
    Credit cards for excellent credit are
    intended for those with a credit score of 700 or Higher.
    Get Your Free Score