Chase Sapphire Preferred Card Reviews: Is It Worth It?

Chase Sapphire Preferred Card Reviews: Is It Worth It?

Imagine earning $2,000+ in rewards over just two years with one credit card. That’s what the Chase Sapphire Preferred Card could offer, according to recent estimates. This figure makes many wonder if the $95 annual fee is worth it.

The Chase Sapphire Preferred Card has impressive ratings. WalletHub gives it a 4.6/5, and user reviews average 3.9/5. The editor’s perfect 5.0/5 score suggests it might be more than just hype.

The card’s sign-up bonus is 60,000 points after spending $4,000 in the first three months. This is worth $750 when redeemed through Chase Travel. Its ongoing value is also attractive, with 5x points on travel booked through Chase, 3x on dining and select services, and 2x on other travel purchases.

The Chase Sapphire Preferred Card also offers many travel benefits. These perks, along with its rewards program, make it a top choice in the travel credit card market. But is it right for you? Let’s explore what it offers.

Key Takeaways

  • Potential to earn $2,000+ in rewards over two years
  • 60,000 point sign-up bonus worth $750 in travel
  • 5x points on Chase Travel bookings
  • $95 annual fee
  • Strong travel benefits and protections
  • No foreign transaction fees
  • Requires good to excellent credit (700+ score)

Chase Sapphire Preferred Card Overview

The Chase Sapphire Preferred Card is a top pick for travelers. It offers great rewards, benefits, and protections. It’s perfect for both frequent and occasional travelers.

Key Features and Benefits

Cardholders get a welcome bonus of 60,000 points after spending $4,000 in the first three months. They earn 5X points on travel booked through Chase Travel and 3X points on dining and select streaming services. Plus, there’s a $50 annual hotel credit to help offset the card’s cost.

Annual Fee and APR

The Chase Sapphire Preferred has a $95 annual fee. It’s a fair price for the benefits it offers. The APR ranges from 20.99% to 27.99%, which is typical for premium travel cards.

Credit Score Requirements

To get the Chase Sapphire Preferred, you need a good to excellent credit score. Most applicants have a score of 700 or higher. This ensures they can handle the card’s benefits and the Chase Ultimate Rewards program responsibly.

Feature Details
Welcome Bonus 60,000 points after $4,000 spend in 3 months
Annual Fee $95
APR 20.99% – 27.99% Variable
Recommended Credit Score 700+

Rewards Program and Earning Potential

The Chase Sapphire Preferred Card has a great rewards program. It has a point system that’s good for those who love to travel and eat out.

Point Earning Structure

Cardholders earn points at different rates for different purchases:

  • 5X points on Chase Travel bookings
  • 3X points on dining, select streaming services, and online groceries
  • 2X points on other travel purchases
  • 1X point on all other purchases

This setup helps you earn points fast, especially if you travel a lot or eat out often.

Welcome Bonus Offer

New cardholders get a big bonus: 60,000 points after spending $4,000 in the first three months. This bonus can be worth up to $750 in travel when redeemed through Chase Ultimate Rewards. It’s a great way to boost your travel rewards.

Chase Ultimate Rewards Program

The Chase Ultimate Rewards program lets you redeem points in many ways. You can choose between cash back or points, with travel rewards being the most valuable. Points are worth 25% more when used for travel through Chase Travel, making each point worth 1.25 cents.

Redemption Option Value per Point
Travel through Chase Travel 1.25 cents
Cash Back 1 cent
Gift Cards 1 cent

To get the most value, consider transferring points to Chase’s airline and hotel partners at a 1:1 ratio. This can help you get more value for premium travel experiences.

https://www.youtube.com/watch?v=gL4fjeOCRpA

Chase Sapphire Preferred Card Reviews: Is It Worth It?

Reviews of the Chase Sapphire Preferred Card are mostly positive. Many users think the card’s benefits are worth the $95 annual fee. Its rewards and travel perks are especially appealing to frequent travelers.

The Chase Sapphire Preferred Card offers impressive perks:

  • 60,000 bonus points after spending $4,000 in the first 3 months
  • 5x points on travel booked through Chase Travel℠
  • 3x points on dining and select streaming services
  • 10% anniversary points boost
  • $50 annual hotel credit

Is it worth it? For many, the answer is yes. The card’s value is clear for those who travel often. The initial bonus can cover several years of annual fees.

Benefit Estimated Value
Welcome Bonus $750+ (60,000 points)
Annual Hotel Credit $50
10% Anniversary Bonus Varies (based on spending)
Travel Protection Peace of mind
No Foreign Transaction Fees Savings on international trips

For travelers who can use these benefits, the Chase Sapphire Preferred Card is a great choice. It combines rewards, protections, and perks, making it a solid option for those new to travel rewards cards.

Travel Benefits and Protections

The Chase Sapphire Preferred Card is a top pick for travelers. It comes with many features that make it ideal for those who love to explore the world.

Travel Insurance Coverage

This card offers strong travel insurance. You’re covered up to $10,000 per person for trip cancellation or interruption. Lost luggage? No worries. You’re protected up to $3,000 per person.

The card also provides $100 per day for up to 5 days if your bags are delayed.

No Foreign Transaction Fees

Say goodbye to pesky foreign transaction fees. This card lets you spend freely abroad without extra charges. It’s perfect for international travelers who live outside the U.S. for extended periods.

Partner Benefits

The perks don’t stop there. You’ll earn 5x points on Lyft rides through March 2025. Plus, you get a free DashPass membership for at least a year when activated by December 2027. These partner perks add real value to your card.

Benefit Coverage
Trip Cancellation/Interruption Up to $10,000 per person
Lost Luggage Up to $3,000 per person
Baggage Delay $100/day for up to 5 days

With its comprehensive travel insurance, zero foreign transaction fees, and valuable partner perks, the Chase Sapphire Preferred Card proves its worth for frequent travelers.

Conclusion

The Chase Sapphire Preferred Card is a top choice for travel lovers. It has a $95 annual fee but offers great rewards. The card’s welcome bonus of 60,000 points is worth $750 when used for travel, making the fee worth it.

This card is great for earning points. You get 5X points on travel, 3X on dining and streaming, and 2X on other travel. Plus, you get a 10% bonus on your total spend each year.

Travelers will love this card. It has no foreign transaction fees and offers travel protections. You can also transfer points to partner programs, increasing their value. Even without premium perks, its balance of benefits and cost makes it a top pick.

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  • The AcademyFlex Finance Consultants team brings decades of experience from the trenches of Fortune 500 finance. Having honed their skills at institutions like Citibank, Bank of America, and BNY Mellon, they've transitioned their expertise into a powerful consulting, training, and coaching practice. Now, through AcademyFlex, they share their insights and practical knowledge to empower financial professionals to achieve peak performance.

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