Chase Sapphire Preferred credit card review | finder.com

Chase Sapphire Preferred® Card review – February 2019

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An excellent travel card that offers top-notch points redemption through Chase Ultimate Rewards.

finder.com’s rating: 4.0 / 5.0

★★★★★

30-second take

  • Get this card if you travel and dine out often — and you want flexible travel points.
  • Pick something else if you don’t want to pay an annual fee starting the second year or you don’t spend much on travel or dining.
  • Apply with a good to excellent credit score of 670 or higher.
Product NameChase Sapphire Preferred® Card
Card TypeVisa
Annual Fee$0 annual fee for the first year ($95 thereafter)
APR (Annual Percentage Rate) for Purchases18.24% to 25.24% variable
Introductory Purchase APR

N/A

Balance Transfer APR18.24% to 25.24% variable
Introductory Balance Transfer APR

N/A

Balance Transfer Fee$5 or 5% of the transaction, whichever is greater
Cash Advance Rate27.24% variable
Foreign Transaction FeeNone
Cash Advance Fee$10 or 5% of the cash advance amount, whichever is greater
Interest Free PeriodUp to 21 days
Late Payment FeeUp to $38
Returned Payment FeeUp to $38
Additional Cardholder Fee$0
Rates & FeesRates & Fees
Minimum Age18 years of age
Welcome Offer50,000 points after spending $4,000 in the first 3 months
Rewards2x points on travel and dining. 1x points on all other purchases
Base Rewards1x points
Rewards Points ExpirationNever
Apply now

Survey data on Chase Sapphire Preferred® Card

What credit score did you have when you were approved for this credit card?

survey question 2
Based on a survey of 48 people on finder.com
Answer choicesResponses
740-85060.42%
670-73931.25%
580-6696.25%
300-5792.08%

What interests you most about this credit card?

survey question 3
Based on a survey of 191 people on finder.com
Answer choicesResponses
Rewards35.60%
Signup bonus13.09%
Features and benefits47.12%
APR4.19%

The basics

Peel back the layers of the Chase Sapphire Preferred® Card, and you’ll likely arrive at a conclusion shared by countless fellow travelers: It’s simply among the best travel cards you’ll find anywhere.

First, look at the card’s introductory bonus. You’ll earn 50,000 points after you spend $4,000 on purchases in the first 3 months your account is open.

It’s what you can do with those points, however, that highlights the value of the Chase Sapphire Preferred® Card. When you redeem points through Chase Ultimate Rewards, they’re worth 25% more — that means 80,000 points are worth not $800 but $1,000 in travel rewards. This is a win for any traveler, and the percentage bonus means your points can go farther for as long as you hold the card.

It gets better: Not only can you redeem points through Chase Ultimate Rewards, but you can also transfer your points to airline programs like Southwest Airlines Rapid Rewards and hotel programs like Hyatt Gold Passport. Luckily, you’re allowed to transfer points at a minimum ratio of 1:1 — meaning that every Chase Sapphire Preferred® Card point you transfer is equal to one point of the reward program it’s transferred to.

Some programs offer even higher ratios. It’s this flexibility that elevates the Chase Sapphire Preferred® Card from an already stellar card to what many travelers rightly see as a game-changing travel card.

One thing is clear: The Chase Sapphire Preferred® Card’s reputation as a must-have travel credit card is well deserved.

The perks

  • ANNUAL FEE: Waived for the first year.

    The Chase Sapphire Preferred® Card comes with a $95 annual fee. However, the fee is waived for the first year, so you can focus on earning the generous signup bonus.

  • REWARDS: 2x points on travel and dining.

    The Chase Sapphire Preferred® Card is an especially good choice if you’re a frequent traveler, as you’ll earn 2x points per dollar you spend on travel and dining at restaurants. Earn 1 point per dollar you spend on everything else.

  • SIGNUP BONUS: Earn up to 50,000 bonus points.

    When you spend $4,000 on purchases in the first 3 months your account is open, you’ll earn 50,000 points. That’s worth $625 when redeemed through Chase Ultimate Rewards.

  • Points are worth more when redeemed through Chase Ultimate Rewards.

    If you redeem your points through Chase Ultimate Rewards, they’re worth 25% more. This is a big perk that elevates the Chase Sapphire Preferred® Card above the rest.

    For example, you can redeem 50,000 points for $625 worth of travel purchases, rather than the industry-standard $500 — 1 point equals 1 cent.

You’ll also like…

  • Point transfers at a 1:1 ratio to airline programs.

    Transfer points to airline programs that include British Airways Executive Club, Flying Blue Air France KLM, Korean Air SkyPass, Singapore Airlines KrisFlyer, Southwest Airlines Rapid Rewards, United MileagePlus and Virgin Atlantic Flying Club.

  • Point transfers at a 1:1 ratio to hotel programs.

    Transfer points to hotel programs that include Hyatt Gold Passport, IHG Rewards Club, Marriott Rewards and Ritz-Carlton Rewards.

  • 0% foreign transaction fees.

    You wouldn’t expect anything less from a travel card. Many credit cards come with a 3% foreign transaction fee, making the Chase Sapphire Preferred® Card is an excellent choice when you’re shopping abroad.

  • Travel services.

    Travel coverage includes trip cancellation and interruption insurance, auto rental collision coverage, baggage delay insurance and trip delay insurance.

  • Purchase coverage.

    Purchase coverage includes purchase protection that insures your purchases against theft or damage and provides price protection, return protection and extended warranties.

Compare Chase Sapphire Preferred® Card vs. Chase Sapphire Reserve®

What to watch out for

  • Annual fee.

    Your annual fee is waived for the first year, but you’ll pay $95 a year thereafter.

  • Potentially high APR.

    Depending on your credit, you could be approved for a purchase and balance transfer APR as high as 25.24% variable. The average credit card APR is around 16%.

  • Higher cash advance APR.

    Cash advances come with a 27.24% variable APR.

  • No grace period on balance transfers or cash advances.

    Purchases come with a grace period — that is, you’ll have at least 21 days after the close of the billing cycle to pay off your balance before accruing interest. This isn’t the case with balance transfers or cash advances: You’ll start accruing interest on them immediately.

Consider other cards if …

  • You don’t want to pay an annual fee.

    For a no-annual-fee travel card, consider the Bank of America® Travel Rewards credit card. It offers 1.5x points on everything you buy, redeemable for statement credit to pay for flights, hotels, vacation packages, rental cars and more.

  • You don’t spend much on travel or dining.

    Given its points structure, the Chase Sapphire Preferred® Card is better suited for those who eat out and travel often. If you don’t do much of either, you might be better off with a card like the Barclaycard Arrival® Plus World Elite Mastercard®. It offers 2x miles on every purchase.

  • You want top-tier benefits like travel credits and airport lounge access.

    For the best travel perks, you may want a premium travel card. Look for products like the Chase Sapphire Reserve®, The Platinum Card® from American Express and Luxury Card Mastercard® Black Card™, all of which come with travel credits and complimentary airport lounge access.

  • You want premium travel perks without a steep price.

    The Bank of America® Premium Rewards® credit card — which also has a $95 annual fee — may be a great alternative to the Chase Sapphire Preferred® Card. It offers 2x points on travel and dining and 1.5x points on all other purchases. It also offers up to $200 in travel statement credit.

Name Product Welcome Offer Rewards Annual Fee
50,000 points after spending $4,000 in the first 3 months
2x points on travel and dining. 1x points on all other purchases
$0 annual fee for the first year ($95 thereafter)
Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months.
50,000 points after spending $4,000 in the first 3 months
3x points on dining and travel after earning your $300 travel credit. 1x points on all other purchases
$450
Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months.
30,000 miles after spending $1,000 in the first 3 months and a $50 statement credit after you make a Delta purchase in the first 3 months
2x miles on Delta purchases and 1x miles on all other purchases
$0 annual fee for the first year ($95 thereafter)
30,000 bonus miles after you use your new card to make $1,000 on purchases within the first 3 months. Rates & Fees
75,000 points after spending $1,000 in the first 3 months
7x points on direct purchases within the Hilton Honors portfolio. 5x points at US restaurants, US supermarkets and US gas stations. 3x points on all other purchases
$0
Earn 75,000 Hilton Honors™ Bonus Points after you spend $1,000 in purchases on the card within your first 3 months of card membership. Rates & Fees
35,000 points after spending $2,000 in the first 3 months
3x points on airfare booked directly with airlines; 4x points at US restaurants; 4x points at US supermarkets on up to $25,000 per year in purchases (then 1x points)
$250
35,000 bonus Membership Rewards® Points when you spend $2,000 in the first 3 months Rates & Fees
70,000 miles after spending $5,000 in the first 90 days
2x miles on all purchases
$0 annual fee for the first year ($89 thereafter)
Enjoy 70,000 bonus miles after spending $5,000 on purchases in the first 90 days.
60,000 points after spending $5,000 in your first 3 months
5x points on flights booked directly or flights and hotels booked through American Express Travel. 1x points on all other purchases
$550
Get 5x Membership Rewards® points on flights booked directly with airlines or with American Express Travel and 5x points on eligible hotels booked on amextravel.com. Rates & Fees
125,000 points after spending $2,000 in the first 3 months
12x points on Hilton Portfolio spending, 6x points at US restaurants, US supermarkets and US gas stations and 3x points on all other purchases
$95
Earn 125,000 Hilton Honors™ Bonus Points after you spend $2,000 or more in purchases with your new card within the first 3 months of card membership. Rates & Fees
10,000 miles after spending $500 in the first 3 months
2x miles at US restaurants and on purchases made directly with Delta and 1x miles on all other purchases
$0
Earn 10,000 bonus miles after spending $500 in purchases on your new card in your first 3 months of card membership. Rates & Fees
Earn 25,000 bonus points when you spend $2,500 in the first 90 days from account opening.
Earn 3x points on travel — or 4x points if you’re a PenFed Honors Advantage member — and 1.5x points on all other purchases
$0
Earn 25,000 bonus points when you spend $2,500 in the first 90 days from account opening.
20,000 bonus LifeMiles after first card use
2x miles on Avianca purchases, 1x miles on all other purchases. Plus a 15% discount on purchases of miles with Multiply Your Miles
$59
20,000 bonus LifeMiles after first card use
40,000 bonus LifeMiles after first card use
3x miles on Avianca purchases, 2x miles at gas stations and grocery stores and 1x miles on all other purchases. Plus 15% discount on purchases of miles with Multiply Your Miles
$149
40,000 bonus LifeMiles after first card use
N/A
1x points on all purchases with 2% point value when you redeem for airfare and 1% for cash back
$195
Enjoy unique excursions, privileged access to exclusive events and insider opportunities.
N/A
1x points on all purchases with 2% point value when you redeem for airfare and 1.5% for cash back
$495
Receive an annual $100 air travel credit toward flight-related purchases including airline tickets, baggage fees, upgrades and more.
N/A
1x points on all purchases with 2% point value when you redeem for airfare or cash back
$995
Earn 1x points when redeemed for airfare through the Luxury rewards program.

Compare up to 4 providers

Name Product Welcome Offer Rewards Annual Fee
50,000 points after spending $4,000 in the first 3 months
2x points on travel and dining. 1x points on all other purchases
$0 annual fee for the first year ($95 thereafter)
Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months.
$500 bonus cash back after you spend $3,000 on purchases in the first 3 months after account opening
Earn unlimited $1.5 cash back rewards on every purchase made for your business.
$0
$500 bonus cash back after you spend $3,000 on purchases in the first 3 months after account opening
$500 bonus cash back after you spend $3,000 in the first 3 months
$0
$500 bonus cash back after you spend $3,000 in the first 3 months
80,000 bonus points after you spend $5,000 on purchases in the first 3 months after account opening. That's $1,000 toward travel rewards when you redeem through Chase Ultimate Rewards®.
Earn 3x points on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, and on advertising purchases made with social media sites and search engines each account anniversary year. Earn unlimited 1x points on all other purchases
$95
80,000 bonus points after you spend $5,000 on purchases in the first 3 months after account opening. That's $1,000 toward travel rewards when you redeem through Chase Ultimate Rewards®
Earn a $100 bonus after spending $1,500 on purchases in the first 90 days from account opening
2% cash back for all PenFed Honors Advantage members and 1.5% cash back on all purchases made with your card
$0
2% cash back for all PenFed Honors Advantage members and 1.5% cash back on all purchases made with your card.

Compare up to 4 providers

Apply now

What should I know before I apply?

To apply for the Chase Sapphire Preferred® Card, you must be at least 18 years old in most places. The minimum age requirement bumps up to 19 for residents of Alabama and Nebraska and 21 in Puerto Rico.

Required documents and information

  • Your name, residential status and address
  • Your Social Security number and date of birth
  • Your email address and phone number
  • Financial information, like your annual salary and wages

What credit score do I need?

You’ll have a better chance of approval for this card if you apply with a good to excellent credit score of 680 to 850.

What do customers say about the Chase Sapphire Preferred® Card?

Cardholders generally have great things to say about the Chase Sapphire Preferred® Card points and travel benefits — even if they’re not thrilled with the annual fee. They say the card is slightly easier to apply for as a Chase customer: Because the bank already has your personal details, you may not have to complete the entire credit card application.

Chase earns a Trustpilot score of 5.5 out of 10 at the time of this writing. Most negative reviews cite slow responses to fraud complaints and less-than-helpful customer service. Positive reviews cite the bank’s great mobile app and quick resolutions to their issues. Overall, your mileage may vary with Chase customer support.

The JPMorgan Chase Credit Card division earns an overall A+ rating from the Better Business Bureau.

How to apply for the Chase Sapphire Preferred® Card

  1. Go to the Chase website and click Apply Now.
  2. Complete the application with details like your name, address, annual income and Social Security number.
  3. Review and submit your application.

Chase website screenshot of its online application

How long will it take to be approved?

Because approval is automated on the Chase website, you’re likely to get a decision within minutes. If there are issues with your application, it could take up to a few weeks to hear back.

I got the card. Now what?

  • Make timely payments. Pay your card bill online at the Chase website, where you can enroll in autopay.
  • Avoid interest. After the close of each billing cycle, you have a grace period of at least 21 days to pay your balance. If you do, you won’t pay interest on your purchases.
  • Avoid fees. Late and returned payments come with fees of up to $38. The balance transfer fee is $5 of the amount of each transfer, and the cash advance fee is $10 or 5% of the cash advance amount, whichever is greater .
  • Contact customer service. If you have questions, contact Chase Credit Cards support at 1-800-432-3117.

Bottom line

The Chase Sapphire Preferred® Card is among the best travel cards you’ll find. With its 2x points on travel and dining, it’s a solid credit card for globetrotters and foodies.

Those points go far too, with a 25% boost if you redeem them through Chase Ultimate Rewards. And the 1:1 point transfers to airline and hotel programs means your points are extremely flexible.

Frequently asked questions

Travel card ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

Our team evaluates credit cards to determine their value against similar cards on the market.

We rank card types — travel, cash back, business — on a set of factors that are most relevant to that type of card. We create these rankings to help you narrow down a credit card that best suits your spending and budget.

Learn the details of our methodology and scoring.

Kevin Joey Chen

Kevin Chen is a world-travelin', copy-writin', Game of Thrones-watchin' credit cards writer for finder.com. When he's not crunching the numbers on bonus points and comparing APRs, you can find him flying around the world in search of the perfect beer.

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