Review: Chase Sapphire Preferred
Update: The 75,000 point sign up bonus is ending soon. It has been announced that it is ending in branches on 6/22. While there’s no word yet for online applications, I’m assuming it will end on the same day.
The Chase Sapphire Preferred is one of the first cards I recommend as someone’s first travel card. It's low annual fee coupled with a great signup bonus and bonus categories make this card a winner.
Apply Here: Chase Sapphire Preferred
Quick Facts
Signup Bonus: 75,000 Chase Ultimate Rewards Points after spending $4,000 in 3 months.
Points Earned: Chase Ultimate Rewards which you can use for 1.25 cents each toward travel or you can transfer them on a 1:1 basis to their 13 airline and hotel partners. I value Chase points at 1.7 cents per point.
Earnings Structure:
5x points on travel booked through the Chase Travel Portal.
5x points on Lyft rides.
3x points on dining.
3x points on online grocery stores
3x points on select streaming platforms
2x points on travel
Foreign Transaction Fees: None
Annual Fee: $95
This card is a power hitter considering the low annual fee, large signup bonus and great bonus categories. There have been some higher signup bonuses as well as a waived annual fee in the first year but this isn’t a card to wait on. At a minimum the signup bonus is worth $937.50 alone, but by using your points the right way I value this at $1,275.
5x Points on Travel Booked Through the Chase Travel Portal
While this may sound enticing, there are some drawbacks to booking this way. Eligible purchases include airline tickets, hotels, rental cars, cruises, and vacation rentals. There’s an opportunity cost to not booking directly and going through the portal. Not only is it much easier to deal directly with the company who is actually providing that travel but you also will earn points with their loyalty program and have your elite status recognized. That is not the case when booking through Chase’s or any other travel portal. If you have to change your plans or need to rebook, you must reach out to Chase which can be a pain especially when you’re pressed for time. They’re acting as a liason between you and the travel provider. Its much easier to go straight to the source.
You will earn 2x points on all other travel not booked through Chase so this is still a great card for those purchases.
$50 Hotel Credit
When you book a hotel through the Chase Travel portal you get a $50 statement credit per cardmember year. This is as simple as it sounds. You could even book (if you can find one) a room for $50 and you would get a $50 statement credit. This really is as good and as easy as it sounds. I will typically use this for really cheap one night stays or if I’m staying at a hotel that doesn’t belong to one of the big super chains that I’m trying to requalify for status with.
10% Anniversary Bonus
Another great perk of this card is the 10% anniversary bonus. At the end of each cardmember year, Chase will deposit a 10% bonus into your account. If you spend $10,000 on your card in a year, they’ll add another 1,000 points to your balance. This only applies to your base spending and doesn’t factor in any of the other bonus points you get from travel, Lyft, dining, etc. purchases.
Chase Offers
Similar to Amex Offers, Chase has certain deals you can enroll in at various places to get cash back. While not as many or as exciting as Amex Offers, there are still some additional savings to be had.
Primary Car Rental Insurance
This is another great benefit with the Sapphire Preferred. Chase offers primary rental car insurance when booking a rental car with your card. As long as you decline the CDW when you rent Chase will cover any damage up to the value of the car. Certainly check the exclusions as I’ve seen it won’t cover a rental like a Tesla but it can still be incredibly useful especially if you rent cars regularly.
Travel Protection
Here’s another reason this card is so useful for travel. The Sapphire Preferred offers many great travel and purchase protections which can take the sting out when things go wrong on a trip.
Trip Cancellation/Interuption Insurance: If your trip is canceled or cut short by sickness, severe weather and other covered situations, you can be reimbursed up to $10,000 per person and $20,000 per trip for your pre-paid, non-refundable travel expenses
Baggage Delay Insurance: Reimburses you for essential purchases like toiletries and clothing for baggage delays over 6 hours by passenger carrier up to $100 a day for 5 days.
Trip Delay Reimbursement: If your travel is delayed more than 12 hours or requires an overnight stay, you and your family are covered for unreimbursed expenses, such as meals and lodging, up to $500 per ticket. This is huge and what I’ve used most in the past.
Complimentary DoorDash DashPass Membership
The Sapphire Preferred offers a free DoorDash DashPass Membership. You’ll get free deliveries on eligible restaurants and grocery stores nationwide. All you have to do is make an eligible purchase of at least $12 for a restaurant or $25 for a grocery store and you get free delivery. If you order through DoorDash regularly this is a great perk.
Complimentary Instacart+ Membership and Monthly Credit
Just for having the card you receive a free Instacart+ membership for six months as well as a $15 credit each quarter. Instacart+ is normally $9.99 a month and offers waived delivery fees on most orders of over $35, reduced service fees, and 5% back on eligible pickup orders.
Is it Worth It?
Without a doubt, the Chase Sapphire Preferred is one of the best travel cards out there and great for one of the first travel cards you get. Even if you’re a seasoned points and miles expert, this is still a card to keep in your wallet.
Want to apply? Use my link here: Chase Sapphire Preferred
