Chase Sapphire Preferred credit card review | finder.com

Chase Sapphire Preferred® Card review – June 2019

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Chase Sapphire Preferred® Card

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

finder.com’s rating: 4.0 / 5.0

★★★★★

  • 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$95
Standard Purchase APR18.24% to 25.24% variable
Intro Purchase APR

N/A

Standard Balance Transfer APR18.24% to 25.24% variable
Intro Balance Transfer APR

N/A

Balance Transfer Fee$5 or 5% of the transaction, whichever is greater
Cash Advance Rate27.24% variable
Cash Advance Fee$10 or 5% of the cash advance amount, whichever is greater
Foreign Transaction FeeNone
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 Offer60,000 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 ExpiryNever

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 60,000 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.
Get a 60,000 Ultimate Rewards bonus with Chase’s checking account offer

The perks

  • REWARDS: 2x points on travel and dining.
    Chase Sapphire Preferred® Card rewards can be attractive 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 60,000 bonus points.

    When you spend $4,000 on purchases in the first 3 months your account is open, you’ll earn 60,000 points. That’s worth $750 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 60,000 points for $750 worth of travel purchases, rather than the industry-standard $600 — 1 point equals 1 cent.

Chase Sapphire Preferred® Card increases bonus to 60,000 pointsBack to top

Is the annual fee worth it?

The Chase Sapphire Preferred® Card has a $95 annual fee. That’s comparable to fees of other mid-tier travel cards, but is it worth paying?

First, look at the card’s rewards

According to Chase, the card’s points are worth 25% more when redeemed for airfare, hotels, cruises and car rentals through Chase Ultimate Rewards. This gives you a 1.25% redemption rate, which is better than that of most other travel cards.

At that rate, you’d need 7,600 points to break even on the annual fee with rewards alone.

  • That’s $3,800 spent on travel or dining.
  • Or, $7,600 spent on all other purchases.

You may need even fewer points to break even if you transfer them to Chase’s travel partners. For example, our January 2019 valuation pegs Southwest Airlines points at 1.6 cents each — a better rate than you’d find through Chase Ultimate Rewards.

Next, consider the signup bonus

You can redeem 60,000 points for $750 of travel through Chase Ultimate Rewards. That’s an excellent signup bonus, and it could pay for your annual fee several times over.

Other perks that add more value

Purchase protection and travel insurance are often the unsung heroes of travel cards. It can be difficult to calculate their value. But if they lead to a successful claim, your card could immediately pay for itself.

How to earn Chase Ultimate Rewards points

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.

  • No Chase Sapphire Preferred® Card foreign transaction fee.

    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 an excellent choice when you’re shopping abroad.

  • Purchase coverage.

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

  • Secondary Chase Sapphire Preferred® Card benefits for travel.

    Enjoy Chase Sapphire Preferred® Card travel insurance, which includes trip cancellation and interruption insurance, baggage delay insurance and trip delay insurance. You’ll also get access to Chase travel and emergency assistance services.

    The Chase Sapphire Preferred® Card has rental car insurance as well — specifically, collision damage waivers. If you charge your rental car to your card and decline the insurance at the counter, your eligible vehicle receives coverage against theft and collision.

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 57 people on finder.com

Answer choicesResponses
740-85057.89%
670-73935.09%
580-6695.26%
300-5795.26%

What interests you most about this credit card?

survey question 3

Based on a survey of 203 people on finder.com

Answer choicesResponses
Rewards35.47%
Signup bonus14.78%
Features and benefits45.81%
APR3.94%
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Does the Chase Sapphire Preferred® offer lounge access and Global Entry?

The card doesn’t offer these benefits, but you can find them with the Chase Sapphire Reserve®.

If you’re looking for the Global Entry application credit without a premium price, consider the Venture® from Capital One®.

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What to watch out for

  • Annual fee.

    The Chase Sapphire Preferred® Card comes with a $95 annual fee.

  • 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.

Name Product Welcome Offer Rewards Annual Fee Filter values
75,000 points after spending $1,000 in the first 3 months
7x points on Hilton Honors purchases, 5x at US restaurants, US supermarkets and US gas stations, 3x 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
60,000 points after spending $5,000 in your first 3 months
5x points on directly-booked flights or on flights and hotels on Amex 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
35,000 points after spending $2,000 in the first 3 months
3x points on directly-booked flights; 4x at restaurants; 4x at US supermarkets on up to $25,000 annually (then 1x points)
$250
35,000 bonus Membership Rewards® Points when you spend $2,000 in the first 3 months. Rates & fees
25,000 points after spending $2,000 in the first 4 months
2x points on gas, groceries or airlines, whichever you spend the most on each month, 2x points on cell phone services and charities and 1x points on all other purchases
$0 intro annual fee for the first year ($49 thereafter)
Earn 25,000 enrollment FlexPoints worth $375 in travel after spending $2,000 in the first 4 months. Rates & Fees
60,000 miles after spending $2,000 in the first 3 months, plus $50 after your first Delta purchase in the same timeframe
2x miles on Delta purchases and 1x miles on all other purchases
$0 intro annual fee for the first year ($95 thereafter)
60,000 bonus miles after you use your new card to make $2,000 on purchases within the first 3 months and a $50 statement credit after you make a Delta purchase in the first 3 months. Rates & fees

Compare up to 4 providers

Name Product Welcome Offer Rewards Annual Fee Filter values
$150 after spending $500 in the first 90 days
5% on up to $2,000 each activated quarter on two categories combined (1% after), 2% on one everyday category and 1% on all other purchases
$0
When you spend $500 on your card within the first 90 days, you’ll receive a $150 cash back bonus. Rates & Fees
$100 after spending $1,500 in the first 90 days
2% cash back for all PenFed Honors Advantage members and 1.5% cash back on all purchases
$0
2% cash back for all PenFed Honors Advantage members and 1.5% cash back on all purchases made with your card.
$100 after spending $1,500 in the first 90 days
5x points on gas at the pump, 3x points on groceries and 1x points on all other purchases
$0
Earn 5x points on gas at the pump and 3x points on groceries. Earn 1x points on all other purchases.
60,000 points after spending $4,000 in the first 3 months
2x points on travel and dining. 1x points on all other purchases
$95
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months.
50,000 bonus miles after spending $3,000 in the first 3 months
2x miles on all purchases and 10x miles at hotels.com/venture
$0 intro annual fee for the first year ($95 thereafter)
Earn 50,000 bonus miles after spending $3,000 on purchases within the first 3 months from account opening.

Compare up to 4 providers

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.

Case study: Megan’s experience

profile pic

Megan Horner
Assistant Publisher

After earning the signup bonus on this card, I redeemed it for two round trip flights from San Diego to Salt Lake and one round trip flight from San Diego to Sacramento. Buying these flights with my points saved me around $750.

Purchasing them was easy through the Chase Ultimate Rewards Portal. It looks like a normal flight search engine, with flight options much like Kayak.

Next time I redeem points, I’ll likely transfer points to a different airline and buy the flights directly from the airline. This option offers more value from my points, but involves doing the math on point values to make sure I’m getting the best deal.

Now that I have this card, I’ll likely upgrade to the Chase Sapphire Reserve®. As long as I use the $300 in travel credit and premium travel perks, I can make the annual fee worth it.

The Chase Sapphire Preferred® Card was a great starting point to see if I would take advantage of a higher-level, premium travel card before I opened a card with a high annual fee.

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How to apply for the Chase Sapphire Preferred® Card

  1. Go to the provider site 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.

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.

Is there a Chase Sapphire Preferred® authorized user fee?

There’s no fee to add an authorized user. Unfortunately, you won’t earn the 5,000-point authorized user bonus offered previously, but individuals on your card account will earn points for you whenever they spend.

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.

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How do I redeem points from the Chase Sapphire Preferred® Card?

You can redeem rewards by logging in to the Chase Ultimate Rewards portal.

There are several redemption options, including:

  • Apple Ultimate Rewards Store.
  • Gift cards.
  • Travel (airfare, hotels, car rentals, cruises, etc.).
  • Cash back.
  • Experiences.
  • Point transfers.
  • Merchandise.

Travel is often the best use of your points. According to Chase, they’re worth 25% more when redeemed for eligible travel through Chase Ultimate Rewards. And you can often get an even higher value by transferring points to travel partners.

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.Back to top

Frequently asked questions

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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.

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