The 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. And now, new cardholders have the opportunity to claim the newly upgraded signup bonus: earn 60,000 bonus points, worth up to $750 in travel after you spend $4,000 on purchases in the first 3 months from account opening. Did you catch that? The signup bonus is worth up to $750! if you redeem your points through the Ultimate Rewards® portal; that's because Chase Sapphire Preferred® Card members' points are worth 25 percent more when redeem through the portal. For these reasons (and more!) the Chase Sapphire Preferred® Card is our 2019 CardRatings Editor's Choice pick for Best Travel Rewards Card.
The Chase Sapphire Preferred® Card offers high ongoing rewards rates as well:
The Chase 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 happen to also be a cardholder of other Chase cards that utilize the Ultimate Rewards® system, like Chase Freedom® for instance, read on to see how you can further maximize the Ultimate Rewards® program
The Chase Sapphire Preferred® Card upped its already excellent signup bonus offer – now you can earn 60,000 bonus points after spending $4,000 in the first three months; it's quite possibly the best value out there on a card with just a $95 annual fee. The opportunity to earn big upfront rewards is obvious with this card.
The Chase Sapphire Preferred® Card has quickly become one of the most popular cards for CardRatings readers. The popularity stems from the ongoing value of this card: high rewards rates, no blackout dates, restrictions or expiration dates on rewards. Cardholders can even use their points to book a flight for someone else.
Cardholders can also take advantage of an additional 25 percent value for travel when redeeming points through the Ultimate Rewards® program, allowing you to stretch your 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 cruises. Cardholders that also have the ($0 annual fee) Chase Freedom® card may find additional benefits by combining the power of Chase Freedom® with the 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® rotating categories, and the bonus point value for travel associated with the Chase Sapphire Preferred® Card. This situation applies across consumer and business cards that utilize Ultimate Rewards®
In order to take full advantage of the Chase Sapphire Preferred® Card, cardholders should spend more of their budget dining out than grocery shopping. Grocery shopping will only earn a cardholder one point per $1 versus the two points per $1 for dining out. For grocery spending, there are better offers, such as Blue Cash Preferred® Card from American Express which offers 6 percent cash back at U.S. supermarkets 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 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 the Wells Fargo Cash Wise Visa® Card which has no annual fee.
It is also important to look at the points transfer partners, which include, among others:
If you prefer to travel with loyalty programs outside of the named partners, the Chase Sapphire Preferred® Card may feel limiting to you even though you can use your points to book with any airline – you just can't transfer points to any airline and take advantage of possibly lower redemption rates.
Chase Sapphire Preferred® Card and Capital One® Venture® Rewards Credit Card both have solid bonus opportunities for new cardholders, though for a slightly higher spending threshold Chase Sapphire Preferred® Card earn 60,000 points, which is worth up to $250 more than the Capital One® Venture® Rewards Credit Card welcome offer. The Capital One® Venture® Rewards Credit Card offers 50,000 bonus miles – worth $500 – after you spend $3,000 in the first three months. The Capital One® Venture® Rewards Credit Card, however, does waive its annual fee for the first year before going to $95.
The big difference between these two is that you earn two times the miles on all your purchases with the Capital One® Venture® Rewards Credit Card (plus 10 miles per $1 spent when paying for your stay through Hotels.com/Venture) as compared to two times the points on travel and dining out only with the Chase Sapphire Preferred® Card.
Chase Ultimate Rewards® points are transferable to a number of airline and hotel loyalty programs and so are Capital One® Venture® Rewards Credit Card miles, though to different partners than with the Chase card. With the Capital One® Venture® Rewards Credit Card, you can fly any airline, stay at any hotel, anytime and not have to worry about blackout dates. Plus, you can transfer your miles to over 12 leading travel loyalty programs. Those points might be valuable to you if you have some travel loyalties. Additionally, Chase Ultimate Rewards® points are worth 25 percent more when you redeem them for travel through the Chase portal.
The $550 annual fee assessed on The Platinum Card® from American Express (American Express is a CardRatings advertiser) automatically narrows the group of card users who would take enough advantage of the perks to offset that fee (Terms apply. See Rates and Fees). Taking a deeper look into The Platinum Card® from American Express shows some unique benefits that make this card a bit pricey, but possibly a great option for the right cardholder. Cardholders can earn a $200 airline fee credit each year when incidental fees are charged by a pre-selected airline and can receive a statement credit every four years to reimburse Global Entry or TSA Pre✓™ application fees. The Chase Sapphire Preferred® Card has a much lower annual fee, but lacks some of the elite perks of The Platinum Card® from American Express.
The Chase Sapphire Preferred® Card continues to measure up fairly well when comparing its intro offer against other cards, but there are similar options. The Barclaycard Arrival Plus® World Elite Mastercard® offers 70,000 bonus miles to new cardholders after $5,000 in purchases within the first 90 days of account opening; 70,000 is worth $700 in travel statement credit, as opposed to the chance to earn 60,000 bonus points, or $750 toward travel, with the Chase Sapphire Preferred® Card. Also, with Barclaycard Arrival Plus® World Elite Mastercard®, you receive 5 percent of your miles back – that means 3,500 miles, worth $35, if you redeem the full 70,000-mile intro bonus – each time you redeem your miles with the Barclaycard (See Rates and Fees). The Barclaycard Arrival Plus® World Elite Mastercard® also earns some brownie points with its general spending categories. Each purchase made with the Barclaycard Arrival Plus® World Elite Mastercard® is worth two times the miles, which is slightly more appealing than the Chase Sapphire Preferred® Card rewards categories.
The Chase Sapphire Preferred® Card appeals to travelers who spend regularly on their wanderlust and dining excursions. Given the modest annual fee and the high reward value opportunity with your points, you really don't have to be a frequent traveler to benefit from this card, though. A trip or two each year, along with regular card usage, should more than offset the fee. And let's not overlook that stellar signup bonus worth up to $750.
With no foreign transaction fees, 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, or other Ultimate Rewards® card, should use these credit cards in unison to maximize rewards.
To see the rates and fees of the American Express cards mentioned in this post, please visit the following links: The Platinum Card® from American Express (See Rates and Fees); Blue Cash Preferred® Card from American Express (See Rates and Fees)