Five Reasons Everyone Should Get the Chase Sapphire Preferred® Card

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Year after year, the Chase Sapphire Preferred® Card earns top billing as the best flexible travel credit card out there. Because of its many partners, its flexible rewards program, and how easy it is to actually earn points, it is often suggested alongside top hotel, airline, and cash-back credit cards as well.

But, is the card really worth the hype? The short answer: Yes.

Here are some pertinent details to consider before you read any further:

Chase Sapphire Preferred® Card

Highlights:

  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards

Five Reasons to Get the Chase Sapphire Preferred® Card

If you don’t have the Chase Sapphire Preferred® Card yet, there are a slew of reasons you should seriously consider getting one. Here are the top five:

Flexible rewards mean you can’t lose. The Chase Sapphire Preferred® Card is the perfect card for someone who wants to earn rewards, but isn’t sure how they want to use them. Since the points you earn with this card can be used to book any type of travel through the Chase Ultimate Rewards portal, the options are endless.

Meanwhile, you can also transfer points to a slew of popular airline and hotel transfer partners, or redeem them for gift cards or merchandise. And if none of that works out, you cash them in for a statement credit at one cent per point. At that rate, the 50,000 point sign-up bonus alone is worth $500!

You get free primary rental car coverage and trip cancellation/interruption insurance. Unlike many other travel cards, the Chase Sapphire Preferred® Card offers primary rental car coverage. What this means is that, when you rent a car, you don’t have to pay for the coverage the rental company offers or even rely on your personal auto policy for coverage.

In addition, the Chase Sapphire Preferred® Card also offers free trip cancellation and interruption insurance that can reimburse you if your trip gets cancelled or you get stranded in your destination through no fault of your own.

A huge sign-up bonus sweetens the deal. Since the sign-up bonus alone is worth $500, you can’t really lose on this deal. You will earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $625 in travel when you redeem through Chase Ultimate Rewards® – an instant 10% return on your spending. Just remember, you need to pay your balance in full each month in order to avoid paying credit card interest.

The best transfer partners. Chase’s Ultimate Rewards program offers the best transfer partners of any of its competitors. When you earn Chase points, you can transfer them to popular hotel and airline programs such as Southwest Airlines, British Airways, Hyatt, Marriott, and IHG at a 1:1 ratio. If you have a co-branded credit card with any of these programs already, getting the Chase Sapphire Preferred® Card can help you boost those point balances.

Earn 2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases worldwide. If you dine out often or travel frequently, this card is a must-have for your wallet. Those points can add up quick!

Another Way to Rack Up Rewards

Once you get the Chase Sapphire Preferred® Card, you may also want to consider getting a Chase Freedom® card. When you have both, you can pool your points for use in the Chase Ultimate Rewards travel program.

Since the Chase Freedom® card offers bonus categories that dole out 5X points each quarter, getting this card is a great way to earn more rewards over time. When you have both, you can maximize bonus categories and get the most bang for your buck. Here are some details to consider:

Chase Freedom®

Highlights:

  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate
  • Enjoy new 5% categories each quarter like gas stations, restaurants and drugstores
  • Unlimited 1% cash back on all other purchases - it's automatic
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 15.99-24.74%. Balance transfer fee is 5% of the amount transferred, $5 minimum
  • No minimum to redeem for cash back
  • Cash Back rewards do not expire as long as your account is open
  • No annual fee

The Bottom Line

With the Chase Sapphire Preferred® Card, you are earning the most valuable point currency out there. And even if you don’t travel, the sign-up bonus is worth $500 alone. Plus, you’ll receive a slew of free perks just for having the card, including trip cancellation insurance, primary rental car coverage, purchase protection, and more. Even better, the card has a introductory annual fee of $0 the first year, then $95. Which means you can score all of these perks for free in your first year.

Do you have this card? What’s your favorite travel or rewards credit card?

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