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Chase Sapphire Preferred Critical Analysis
Last Updated Apr 18, 2022 by Molly Gaines
A Must-Have Travel Card
This card is a stand-out option for anyone in the market for a flexible travel card that really delivers on ongoing rewards and member perks. The premium benefits do come with a reasonable annual fee but it is an easily justifiable expense especially considering the bonus they are offering.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Chase.
Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 when you redeem through Chase Ultimate Rewards®.
1x – 5x
5x on travel purchased through Chase Ultimate Rewards®
3x on dining, select streaming services and on online groceries (excludes Target, Walmart and wholesale clubs)
2x on all other travel purchases
Plus, earn 1 point per dollar spent on all other purchases
Recommended Credit Score
Good – Excellent 670- 850*
The Chase Sapphire Preferred® Card offers an astoundingly large welcome bonus, great ongoing rewards, premium travel protection benefits and flexible redemption options. There is a $95 annual fee which is very reasonable considering the ongoing perks and rewards offered.
Card Details From Chase
Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $1,000 when you redeem through Chase Ultimate Rewards®.
Enjoy benefits such as a $50 annual Ultimate Rewards Hotel Credit, 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases, plus more.
Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,000 toward travel.
With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories
Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
Our Critical Analysis
Generous intro bonus
No foreign transaction fee
Flexible redemption options
No intro APR for purchases or balance transfers
The annual fee is not waived the first year
The most eye-catching aspect of the Chase Sapphire Preferred® Card is the bonus that is currently being offered. You can earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months after being approved. That is worth $1,000 when you redeem your points through Chase Ultimate Rewards®. This is a fantastic bonus for a card that only charges a $95 annual fee.
As for ongoing rewards, you will earn 5x points on travel purchased through Chase Ultimate Rewards® and 3x points on and dining purchases, select streaming services and on online groceries (excludes Target, Walmart and wholesale clubs). The rewards keep adding up with 2x points on all of your other travel purchases and a point per dollar spent on everything else. The points you earn will be worth 25% more when you redeem them for travel through Chase Ultimate Rewards® or with the Pay Yourself Back℠ feature.
This card stands out from its competitors when it comes to redemption options as well. In addition to booking travel and other experiences directly through Chase Ultimate Rewards, you can also redeem your points for cash back, Amazon.com orders, Apple purchases and gift cards. You can also transfer your points to other travel loyalty programs that Chase partners with at a 1 to 1 value. Click ‘Apply Now’ to view the full details about your point transfer options. Your points do not expire as long as your card is open.
The Chase Sapphire Preferred® Card also offers a robust list additional benefits. For starters, you will pay no foreign transaction fee which can save you a lot of money when traveling outside of the United States. You can also travel confidently knowing that when you use your card you are covered by built-in benefits like primary rental car coverage, trip cancellation and interruption insurance, baggage delay insurance and much more. Chase has also partnered with companies like DoorDash, Lyft and Peloton to offer limited time offers, discounts or higher rewards rate opportunites.
If you have good to excellent credit and are looking for a travel card that offers a wealth of benefits and big earning potential then the Chase Sapphire Preferred® Card is likely a perfect fit for you.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
*CardCritics references a FICO® 8 score, which is one of many different types of credit scores. A financial institution may use a different score when evaluating your application.