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Despite the number of new rewards-earning credit cards to hit the market in recent years, the Chase Sapphire Preferred® Card retains the top spot as our go-to credit card when we're asked for recommendations.
Sporting a lucrative signup bonus and industry-leading benefits, you can bank a substantial balance of valuable Ultimate Rewards points right from the word go.
Let’s review some of the highlights of this popular card, and find out why so many points and miles fans have it in their wallet.
Huge 60,000 Point Signup Bonus
The Sapphire Preferred offers one of the most valuable signup bonuses available. You'll earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®, or potentially much more when transferred to Chase travel partners.
Earn Bonus Points on Travel & Dining!
The card earns 2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases worldwide. You can earn an unlimited number of points, and they do not expire as long as you keep your Sapphire Preferred card open.
The Chase Sapphire Preferred® Card also comes with some solid travel perks. Those perks include primary CDW insurance on car rentals, trip cancellation/interruption insurance, and lost luggage reimbursement. Other benefits include no foreign transaction fees, smart chip technology, dedicated customer service line, extended warranty, and purchase protection.
Great Ultimate Rewards Travel Options
When you use the Sapphire Preferred card to build a balance of Ultimate Rewards points, you can redeem them through the Chase Ultimate Rewards portal and get a discount of 20% on the redemption cost. This 20% discount gives you a value of 1.25 cents per point.
You can use the points for a number of different airlines, cruises, car rentals, and hotels, and there are no blackout dates.
Members with more knowledge of Ultimate Rewards can redeem their points for even higher value by transferring their Ultimate Rewards points to certain airline frequent flyer & hotel partner programs.
The Ultimate Rewards airline transfer partners are:
- Aer Lingus AerClub
- Air France/KLM Flying Blue
- British Airways Avios
- Iberia Avios
- JetBlue TrueBlue
- Singapore Airlines KrisFlyer
- Southwest Rapid Rewards
- United MileagePlus
- Virgin Atlantic Flying Club
The Ultimate Rewards hotel transfer partners are:
- IHG Rewards Club
- Marriott Bonvoy
- World of Hyatt
An example of a great redemption would be transferring 30,000 UR points out to the Hyatt program for a night at the Park Hyatt Vendome in Paris. Standard rooms in this category 7 Hyatt property run around $1,000 a night!
All Ultimate Rewards points transferred to travel partners are instant and at a 1:1 ratio.
Using the Ultimate Rewards portal does give you several other redemption options. You can redeem gift cards at one cent per point, at a wide variety of restaurants and retailers. You can also earn Ultimate Rewards points by shopping online through their online shopping portal.
Shifting your Ultimate Rewards points to a travel partner is considered the best option to maximize the value of your points, because you can redeem them for exponentially higher value, depending on which partner you opt to travel with.
In addition to the Sapphire Preferred, you can earn Ultimate Rewards points with the following cards:
- Chase Freedom®
- Chase Freedom Unlimited®
- Chase Sapphire Reserve®
- Ink Business Unlimited℠ Credit Card
- Ink Business Cash℠ Credit Card
- Ink Business Preferred℠ Credit Card
However, you can’t transfer Ultimate Rewards earned from the two Freedom cards, or either of the no annual fee Ink cards to travel partners unless you also hold a Sapphire Preferred, Sapphire Reserve, or Ink Preferred.
The signup bonus on the Sapphire Preferred is a fantastic starting point, but there is so much more to this card. The 20% bonus on travel booked through the Ultimate Rewards portal, as well as the flexibility of their many top travel partners, make these points extremely valuable and highly regarded by award travel fans. The only drawback with the current offer is that the annual fee of $95 isn't waived for the first year, but the excellent welcome bonus more than makes up for the additional cost.
If you are looking for a card that has a large bonus and offers great flexibility and value, you should strongly consider the Chase Sapphire Preferred® Card. Most people would agree that the high value is certainly worth it in the long run. This card is subject to the Chase 5/24 policy.
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