Chase Sapphire Preferred® Card is a must-have credit card for any traveler who loves to dine out, and reap high-rewards throughout the process. New cardholders have the opportunity to claim the newly upgraded intro offer: earn a whopping 50,000 bonus points when you spend $4,000 on purchases within the first 3 months of account opening (equal to $625 in travel when you redeem through Chase Ultimate Rewards®). For these reasons (and more) Chase Sapphire Preferred® Card was named a 2016 CardRating's Editor's Choice Award recipient for being one of the best credit cards on the market for rewards.
Sapphire Preferred® offers high on-going rewards rates as well:
The Chase's Ultimate Rewards® program has streamlined its redemption process making it easy for cardholders to take advantage of rewards outside of travel: Exchange 5,000 rewards points for a $50 check, a $50 gift card, and other eligible merchandise. If you are a Chase Freedom® cardholder read on to see how you can further maximize the Ultimate Rewards® program
Chase Sapphire Preferred® Card sculpted their intro offer into one of the most competitive deals on the market -- 50,000 bonus points (worth $625) is quite possibly the highest intro program available. Chase doesn’t stop there either, if a cardholder adds an authorized user to their account within the first 3 months of accounting opening, cardholders can earn an additional 5,000 bonus points. The opportunity to earn big upfront rewards is obvious with this card.
Chase Sapphire Preferred® has quickly become one of the most popular cards for CardRatings.com readers. The popularity stems from the on-going value of this card: high rewards rates, no blackout dates, restrictions, or expiration date on rewards. Cardholders can even use their points to book a flight for someone else.
Cardholders can also take advantage of an additional 20% off travel when redeeming points through the Ultimate Rewards® program, allowing cardholders to stretch their rewards even further.
Awards tracking and redemption is easy through Chase Ultimate Rewards where you can track your rewards as they accumulate and use your rewards to directly book flights, hotels, cars or activities. Cardholders that also have the (no annual fee) Chase Freedom® card may find additional benefits by combining the power of Chase Freedom® with Chase Sapphire Preferred® Card. Because points can be shared among the same Chase Ultimate Rewards® account you can take advantage of the high cash back rewards of Chase Freedom®’s rotating categories, and the discounted travel rates associated with Chase Sapphire.
In order to take full advantage of the Sapphire Preferred®, cardholders must spend more of their budget dining out than grocery shopping. Grocery shopping will only earn a cardholder 1X points, verse the 2X points for dining out. For grocery spending, there are better offers such as Blue Cash Preferred® Card from American Express which offers 6% cash back on groceries throughout the year (up to $6,000 annually). Savvy spenders get both cards and use them in the respective categories that earn them the most.
Also, cardholders will need to use their card regularly. The $95 annual fee (which is waived the first year) can be offset with a few trips booked each year, but those that do not use their credit card for categories which earn the most points will have a hard time offsetting the annual fee. If this is you, you should consider a card such as BankAmericard Travel Rewards® Credit Card or BankAmericard Cash Rewards™ Credit Card which have no annual fee.
It is also important to look at the points transfer partners:
If you prefer to travel with loyalty programs not mentioned above, the Sapphire Preferred® may feel limiting to you. As an example, those loyal to Starwood might consider also picking up the Starwood Preferred Guest® Credit Card from American Express to earn the bonus points on Starwood stays (snagging the 25,000 bonus Starpoints® they are offering as a signup bonus right now).
While historically Sapphire Preferred® and Capital One® Venture® Rewards Credit Card have had comparable bonus miles for new cardholders, Sapphire Preferred® has recently pulled ahead. Even though cardholders need to spend $1,000 more with the Sapphire Preferred® to earn the intro offer, the bonus miles with Sapphire Preferred® are 10,000 greater – a substantial difference. The Capital One® Venture® Rewards Credit Card has a slightly lower annual fee ($59 vs. $95) so if you’re a light credit card spending offsetting $59 each year will be an easier task.
The $450 annual fee assessed to the Platinum Card® from American Express (American Express is a CardRatings.com advertiser) automatically narrows the group of card users, who can take full-advantage of the perks. Taking a deeper look into the Platinum Card® shows some unique benefits that makes this card a bit pricey. Cardholders can earn a $200 airline fee credit each year when incidental fees are charged by the airline to your platinum card, and can receive a statement credit every 5 years to reimburse global entry or TSA PreâTM fees. Sapphire has a much lower annual fee, and a higher intro offer, but lacks some of the elite perks of being a Platinum Card® from American Express user.
Chase Sapphire Preferred® continuous to stop the show when measuring its intro offer against other cards. The Barclaycard Arrival Plus™ World Elite MasterCard® offers 40,000 bonus miles to new cardholders after $3,000 in purchases within the first 90 days of account opening, however 40,000 is only worth $400 in travel, as opposed to 50,000 or $625 with the Sapphire card. The Barclaycard Arrival Plus™ World Elite MasterCard® earns some brownie points with its general spending categories. Each purchase made with the Barclaycard Arrival PlusTM is worth 2x miles which is slightly more appealing than the Chase Sapphire Preferred® rewards categories.
The Chase Sapphire Preferred® Card appeals to frequent travelers who spend a lot on their wanderlust and dining excursions. High spending with the Sapphire Preferred® will allow cardholders to easily offset the annual fee.
With no foreign transaction fee, this card can pay for itself with just one overseas trip. Adding double points on travel and dining purchases to the mix can help you rack up even more free rewards. Cardholders that also have a Chase Freedom® card should use these credit cards in unison to maximize rewards.