Chase Sapphire Preferred Card – Full Review [2020]

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Chase Sapphire Preferred Card – Full Review [2020]

U.P. Rating ? The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

"The #1 Travel Rewards Card"

A fantastic travel card with a huge sign-up bonus, good benefits, and perks for a moderate annual fee.

Apply Now (at Chase's secure site)

Chances are you’ve seen your fair share of advertisements for the Chase Sapphire Preferred® Card. Perhaps you’ve seen your friends using it to pay for their meal at dinner, or overheard your coworkers mention how they use their Chase Ultimate Rewards points for free flights.

So what makes the Chase Sapphire Preferred card so special? Is it actually worth all of this hype?

The Chase Sapphire Preferred card gives you an excellent earning rate of 2x points per $1 on travel and dining worldwide (and up to $1,000 in monthly grocery store purchases from November 1, 2020, to April 30, 2021), eligible delivery services, take out and dining out, flexible point redemption options, no foreign transaction fees, and great travel insurance coverage.

With benefits like these, it’s easy to see why this card is one of the best travel credit cards on the market and an excellent choice for any traveler.

Pros

  • Earns 2x points per $1 on all travel and dining purchases worldwide and 1 point per dollar on all other purchases
  • $60 Peloton Digital and All Access Membership statement credit (through December 31, 2021)
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs like United MileagePlus and World of Hyatt
  • Travel and car rental insurance
  • Cardmembers can enroll in complimentary Spot Club Platinum status at The Parking Spot for 2 years and will receive 20% off of their first reservation and points for 1 free day of parking
  • Cardmembers can enroll to receive 10% back on Groupon deals every month for 12 months (up to $50), rewarded as Groupon Bucks

Cons

Chase Sapphire Preferred Card — Snapshot

The Ideal Cardholder

Woman in Santorini Greece
Redeem your Ultimate Rewards points for a dream trip to Santorini. Image Credit: Maridav via Shutterstock.

Do you love exploring the world? Do you love trying your city’s newest restaurants with friends? Are you new to the world of points and miles and want a card with flexible redemption options?

Then the Chase Sapphire Preferred card could be a great card for you! With 2x points on travel and dining at restaurants worldwide, eligible delivery services, takeout and dining out, you can earn more value for the money you’re already spending — each purchase getting you closer to your next vacation.

Great Card If

  • You want a card with flexible redemption options
  • You spend a lot on travel, dining out, and food delivery
  • You travel frequently for work
  • You’re new to the world of points and miles
  • You frequently use rideshare services like Lyft

Don't Get If

Chase Sapphire Preferred - Card Fees

  • Annual Fee
    • $95
  • Foreign Transaction Fees
    $0
  • Interest Rates
    • 15.99%-22.99% Variable
  • Balance Transfers
    • 15.99%-22.99% Variable
    • Fee: Either $5 or 5% of the amount of each transfer, whichever is greater.
  • Cash Advance APR
    • 24.99% Variable

How to Earn More Chase Points

Travel and Dining Expenses

Seeing as the bonus categories on the Chase Sapphire Preferred card are travel and dining, you’ll want to make this card your primary option for all purchases that fall within those categories.

So what exactly counts as a “travel” purchase with Chase? You’ll be happy to know that Chase’s definition of travel is quite broad — so you’ll have plenty of opportunities to earn 2x points.

Purchases that fall within the category include:

  • Airlines
  • Hotels/motels (including Airbnb)
  • Timeshares
  • Campgrounds
  • Car rental agencies
  • Cruise lines
  • Travel agencies
  • Discount travel sites
  • Trains
  • Buses
  • Taxis (including Uber and Lyft)
  • Limousines
  • Ferries
  • Toll bridges and highways
  • Parking lots and garages

Hot Tip: You can monitor each of your transactions via your online Chase account. This will allow you to be certain you’re receiving the 2x multiplier on qualified purchases — and has the additional benefit of helping you keep track of your spending.

Chase Shopping Portal

If you prefer to skip the crowds and do all of your shopping online, then you’re in luck. With the Chase Ultimate Rewards shopping portal you can earn 2x, 5x, or even 20x points per $1 spent with companies like Apple, Bose, and Nike.

Just make sure to click through the Ultimate Rewards shopping portal first before heading to your chosen website to ensure you get the bonus.

Adding More Ultimate Rewards-Earning Cards

Adding more Ultimate Rewards-earning cards allows you to optimize your spending with further bonus categories. Take the Chase Freedom Unlimited® card, which earns 5x Ultimate Rewards points on travel through the Chase Travel Portal, 3x Ultimate Rewards on dining and drugstore purchases, and 1.5x Ultimate Rewards points on all other purchases.

This gives cardholders a 50% increase in points earned compared to the 1x earned with the Chase Sapphire Preferred card on purchases outside of the travel and dining categories.

Overall, there are many methods you can pursue to rack up the Chase Ultimate Rewards points. For even more ways to earn, check out our guide on the Best Ways to Earn Lots of Chase Ultimate Rewards Points.

How to Use Chase Points for Max Value

Couple Smiling Walking From Airport
Strategic use of your Ultimate Rewards points can help you travel like a VIP! Image Credit: Roman Samborski via Shutterstock.

When it comes to Chase Ultimate Rewards points, there are 6 main redemption options that vary in flexibility and value.

Transferring to Airline or Hotel Partners

Chase makes it easy for you to transfer your Ultimate Rewards points to a number of airlines and hotels that it has partnered with. For the most part, these transfers happen almost instantaneously and can make for some very high-value redemptions.

If you’ve never transferred points before, or you’re new to the world of points and miles, it can seem like a daunting task. However, it’s not nearly as difficult as it may seem. With just a little extra work, utilizing transfer partners can help you get huge value from your points.

If you need some help getting started, check out our guide on Chase’s Transfer Partners and How to Use Them.

Using Points Through the Chase Ultimate Rewards Travel Portal

This method is great for travelers looking for simplicity and flexibility. With the Ultimate Rewards Travel Portal, there’s no need to worry about transfers, comparing point values, finding award space, or blackout dates.

When booking through the travel portal with your Chase Sapphire Preferred card, your points are worth a fixed 1.25 cents each — meaning 60,000 Ultimate Rewards points are worth $750 in travel purchases.

Through the portal, you can use your points to book flights, hotels, rental cars, cruises, and other experiences.

For those who aren’t interested in dealing with point transfers, the Ultimate Rewards Travel Portal offers a simple way to book travel while still providing good value for your points.

Redeeming for Gift Cards

You also have the option of redeeming your points for gift cards from over 150 different brands. Unless a deal or promotion is being run with a certain brand, your points are worth 1 cent each for the gift card of your choice — meaning a $50 Starbucks gift card would cost 5,000 Ultimate Rewards points.

Redeeming for Cash-Back

If you’re not interested in using your points toward travel, you can easily redeem them for cash-back at a fixed rate of 1 cent per point. You can use the cash-back as a statement credit toward your purchases, or have the money deposited straight into your bank account.

Update: You can redeem your Chase Ultimate Rewards points at 1.25 cents per piece as a statement credit towards purchases at grocery stores, home improvement stores, and dining establishments until April 30, 2021.

Use Points With Amazon or Apple

If you have an Ultimate Rewards-earning card linked as a payment option on your Amazon or Apple account, you’ll have the option to pay for your item using points. As with previous options, your points will be worth 1 cent each.

Chase Experience Portal

With the Chase Experience portal, you can use your points to book VIP access to select sports, entertainment, and dining experiences. You can purchase experiences with points or cash, and point redemption options are most often valued at 1 cent each.

Hot Tip: At Upgraded Points, we don’t recommend redeeming your points for cash-back, Amazon purchases, or any option that only earns you 1 cent per point in value. Instead, we highly recommend transferring your points to airline and hotel travel partners, so you can use your Chase points for maximum value.

Chase Airline Transfer Partners

Chase Airline Transfer PartnerMin TransferTransfer Ratio
(Chase > Airline)
Transfer Time
Aer Lingus AerClub1,0001:1Almost Instant
British Airways Executive Club1,0001:1Almost Instant
Flying Blue AIR FRANCE KLM
1,0001:11 hour
Emirates Skywards1,0001:1New, pending reports
Iberia Plus1,0001:1Almost Instant
JetBlue1,0001:1Almost Instant
Singapore Airlines KrisFlyer
1,0001:11-2 days
Southwest Airlines Rapid Rewards1,0001:1Almost Instant
United Airlines MileagePlus1,0001:1Almost Instant
Virgin Atlantic Flying Club1,0001:1Almost Instant

Chase Hotel Transfer Partners

Chase Hotel Transfer PartnerMin TransferTransfer RatioTransfer Time
World of Hyatt
1,0001:1Almost Instant
IHG Rewards Club1,0001:11 day
Marriott Rewards1,0001:12 days

Alternative Cards to the Chase Sapphire Preferred

Interested in the Chase Sapphire Preferred card but curious to learn about your other options? Check out these other offerings:

Capital One® Venture® Rewards Card

There’s a lot to love about the Venture card. With the introduction of airline transfer partners, and 2x on all other purchases, it’s easy to see why this is a direct competitor of the Chase Sapphire Preferred card.

If the majority of your daily spending comes from purchases outside of dining and travel categories, then the Venture card might be a great option for you.

Citi Premier℠ Card

The Citi Premier card is one of the few travel credit cards on the market to offer a high return on gas purchases. This makes the card an excellent choice for those who drive often for work or love taking road trips.


We’ve also compared the Chase Sapphire Preferred with a number of other popular cards:


The information regarding the Capital One® Venture® Rewards Card, Bank of America® Premium Rewards® Card, and Citi Premier℠ Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer 


Frequently asked questions

What is the Chase Sapphire Preferred card?

This credit card offers great earning potential for restaurants and travel-related expenses while offering a variety of high-value redemption options.

These include 25% flight discounts (at $0.0125 per point), transfers to travel partners, and the ability to combine with other select Chase cards to earn even more points.

Put another way, get 25% more value when you redeem for airfare, hotels, car rentals, and cruises through Chase Ultimate Rewards.

Is the Chase Sapphire Preferred card a Visa card?

Yes, this card is processed through Visa (like all current Chase cards).

What are the benefits of the Chase Sapphire Preferred card?

This credit card earns 1x to 2x points per dollar that can be used on shopping, purchasing travel tickets through the travel portal at 25% off, or transferring to loyalty accounts of partner airlines.

The card also offers a variety of travel insurance coverage, such as travel accident, trip cancellation and interruption, auto rental, lost luggage, and trip delay insurance.

Does the Chase Sapphire Preferred card use Ultimate Rewards?

Yes. The Chase Sapphire Preferred card earns Chase Ultimate Rewards points.

Who are the travel partners of the Chase Sapphire Preferred card?

The following travel partners accept transferred Chase points into their own loyalty programs at a 1:1 ratio (point to miles):

Airline partners include Air France/KLM, British Airways, Iberia, Aer Lingus, Emirates, JetBlue, Singapore Airlines, Southwest AirlinesUnited Airlines, and Virgin Atlantic. Hotel partners include World of Hyatt, IHG Rewards Club, and Marriott Bonvoy.

Do Ultimate Rewards points expire?

No, as long as your account stays active and in good standing. Keep your bills paid and in good health and you will never lose your points.

When do the Chase Ultimate Rewards points post to your account?

Your points earned for purchases post at the end of each month with your card statement. Bonus points from other places may take longer.

If you are waiting for points to transfer to travel partners, Chase says the transfers may take up to a week. Points must be transferred in 1,000-mile increments.

What is the Chase Sapphire Preferred card's annual fee?

The annual fee is $95 per year.

Is there a foreign transaction fee on the Chase Sapphire Preferred card?

No, there are no foreign transaction fees.

How much is 1 Chase Ultimate Rewards point worth?

A point is worth 1 cent if you use it directly for something like statement credit. However, a point’s value can vary from 1 to 2 cents if transferred to airline partners and redeemed for international travel.

How do you redeem Chase Ultimate Rewards for this card?

Simply log in to your Chase account, then click on any place that says “Ultimate Rewards,” and the next screen will let you select which card you want to access rewards for.

All your account information will be available on this screen, and you can switch or transfer points between accounts.

How do you transfer Chase Ultimate Rewards points to United (or any other airline partner)?

When you are in the Ultimate Rewards portal, go to the “Use Points” menu and click on “Transfer to Travel Partners.”

On this next screen, it lists all possible partners and allows you to quickly select how many you want to transfer (in 1,000-mile increments). Allow up to a week for points to transfer.

You can only transfer points to yourself or an authorized card user.

How do you destroy the Chase Sapphire Preferred card?

While the recommended way to dispose of your card is to simply request closure of your account and send the card back in an envelope, you can also try a number of different methods.

What is the Chase Sapphire Preferred card made out of? Is the card metal?

Yes, the card uses a proprietary blend of metal with a blue finish that creates a unique appearance. It is thicker and heavier than most of its plastic counterparts.

Which is better, the Chase Sapphire Preferred card or Chase Freedom card?

You’ll find higher-value redemption options with the Chase Sapphire Preferred card, but it is best to use both cards simultaneously.

The Chase Freedom® card has no annual fee and offers 5% cash-back in certain categories, which is greater than what the Chase Sapphire Preferred card offers. You can combine all your points from both cards to use for valuable redemptions.

What is the Chase Sapphire Preferred card's login?

You’ll use the Chase bank login.

How do you cancel the Chase Sapphire Preferred card?

To cancel the card, call your membership services number on the back and tell them you want to cancel the card. Be sure to use or transfer all points before you do, or else they will be forfeited.

Also, if your annual fee has already hit for the year, you will need to pay it, so cancel before your yearly anniversary if you need to.

Jarrod West

About Jarrod West

Born and raised just outside of Cincinnati, Jarrod became fascinated with using points and miles as the perfect way to visit dream destinations without breaking the bank. Thanks to points and miles, Jarrod was able to spend 3 months traveling Europe financed nearly entirely with points and miles; while flying in premium cabins and staying in 5-star hotels along the way. To date, Jarrod has traveled to 16 countries and 22 US states.

Disclaimer: Any comments listed below are not from the bank advertiser, nor have they been reviewed or approved by them. No responsibility will be taken by the bank advertiser for these comments.

2 comments

  1. stephen micheal June 6, 2019

    Now I know what chase sapphire preferred card is all about and how much it will cost to get this card. Thanks for passing along this nice information.

    Reply

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