personal Credit Cards
Chase Sapphire Preferred® Credit Card Review 2024
The Chase Sapphire Preferred® Credit Card is a popular travel rewards credit card that offers generous points on travel and dining purchases and a range of other benefits. It’s part of Chase’s Sapphire card lineup, known for providing travelers with excellent value. This card is particularly appealing due to its high rewards rates, flexible redemption options, and valuable travel perks.
What is the Chase Sapphire Preferred® Credit Card?
The Chase Sapphire Preferred® Credit Card is a popular travel rewards credit card that offers generous points on travel and dining purchases and a range of other benefits. It’s part of Chase’s Sapphire card lineup, known for providing travelers with excellent value. This card is particularly appealing due to its high rewards rates, flexible redemption options, and valuable travel perks.
Pros
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Generous Welcome Offer:
Earn a 60,000 bonus after you spend $4,000 on purchases in the first 3 months from account opening.
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High Earning Rates:
Accumulate points quickly on travel and dining purchases.
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Flexible Rewards Redemption:
You can redeem your points for various services, including travel, cashback, gift cards, and more.
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Travel Benefits:
Enjoy travel insurance, no foreign transaction fees, and travel assistance services.
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Points Transfer to Travel Partners:
Transfer points to airline and hotel loyalty programs at a 1:1 ratio for added value.
Cons
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Annual Fee:
The annual Fee is $95. However, the benefits and rewards can often outweigh this cost.
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Spending Requirement for Welcome Offer:
Some people may have a high initial spending requirement to earn the welcome bonus.
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Category Limitations:
While the card offers high earning rates in specific categories, other purchases may earn less.
Key Features of the
Chase Sapphire Preferred® Credit Card?
Generous Welcome Offer
One of the biggest attractions of the Chase Sapphire Preferred® Credit Card is its lucrative welcome offer. When you meet the spending requirement within the first few months of opening your account, you can earn a substantial number of points. This welcome bonus can provide a great start to your rewards-earning journey and help you save on future travel expenses.
Travel Benefits
The card offers several travel benefits that can enhance your trips:
- Travel Insurance: Coverage for trip cancellations, interruptions, and delays, as well as baggage delay insurance.
- No Foreign Transaction Fees: Save money on purchases made outside the U.S. by avoiding foreign transaction fees.
- Travel Assistance Services: Access to 24/7 travel assistance for emergencies, including medical and legal referrals.
High Earning Rates on Travel and Dining
The card offers impressive earning rates on purchases in critical categories, such as:
- Travel: Earn 5 points per dollar on travel purchased through Chase Ultimate Rewards and 2 points on other travel purchases.
- Dining: Earn 3 points per dollar on restaurant dining, including eligible delivery services, takeout, and dining out.
- Streaming Services and Online Grocery Purchases: Earn 3 points per dollar on select streaming services and online grocery purchases (excluding Walmart, Target, and wholesale clubs).
- Earn up to $50 in statement credits each account anniversary year for hotel stays purchased through Chase Travel.
- Plus, earn 1 point per dollar spent on all other purchases.
Points Transfer to Travel Partners
One of the standout features of the Chase Sapphire Preferred® Credit Card is the ability to transfer your points to Chase’s travel partners. You can transfer points at a 1:1 ratio to several airline and hotel loyalty programs, including United MileagePlus, Southwest Rapid Rewards, Marriott Bonvoy, and World of Hyatt. This can provide even more value from your points, especially if you find an excellent redemption deal with one of these partners.
Is the Chase Sapphire Preferred® Credit Card Right for You?
The Chase Sapphire Preferred® Credit Card is a strong contender for individuals who love to travel and want to earn valuable rewards. However, whether it’s the right card depends on your needs and spending habits.
Consider the Chase Sapphire Preferred® Credit Card if:
You Travel Frequently
You Want Flexible Rewards
You Value Points Transfers
You Want Travel Insurance
You Don’t Want Foreign Transaction Fees
Look for Other Options if:
You Prefer a No-Fee Card
Your Spending Doesn’t Align with the Card’s Categories
Final Thoughts
The Chase Sapphire Preferred® Credit Card is an excellent choice for individuals who want to maximize their travel rewards and enjoy various valuable benefits. With its generous welcome offer, high earning rates on travel and dining, flexible redemption options, and travel perks, this card can be a powerful tool for managing expenses and enjoying travel.
Consider your spending patterns, rewards preferences, and travel needs to determine if the Chase Sapphire Preferred® Credit Card fits you. With the right strategy, this card can help you earn rewards, save on travel expenses, and enjoy premium services that enhance your travel experiences in 2024 and beyond.
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