Chase Sapphire Preferred® Card is one of the best premium rewards credit cards to get right now in our opinion. Issued by JPMorgan Chase, this card gives you 50,000 bonus points when spending $4,000 on purchases within the first 3 months from account opening. These 50,000 points are twice as many points as the old promotion, and are worth $625 in travel credit (when redeeming through Chase Ultimate Rewards®)! You can also receive an additional 5,000 bonus points when adding the first authorized user to your account and making a purchase within the first 3 months. This is definitely one of the largest bonus offers we've seen so far in the credit card market this year. Chase Sapphire Preferred® Card has a rare benefit that makes the points you earn a winner for travelers, and we will explain more about this perk in this review. To qualify for this card, you must have a good to excellent credit score.

Chase Sapphire Preferred<sup>®</sup> Card

Chase Sapphire Preferred® Card

  • Our Rating:
At Chase's secure website


  • Earn 50,000 bonus points when 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®.


15.99% Variable


Introductory Annual Fee of $0 the first year, then $95




  • Earn 50,000 bonus points when 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®
  • 2X points on travel and dining at restaurants & 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
  • $0 foreign transaction fees, plus chip-enabled for enhanced security and wider acceptance when used at a chip card reader
  • 1:1 point transfer to leading frequent travel programs at full value - that means 1,000 Chase Ultimate Rewards points equal 1,000 partner miles/points
  • Travel and shop with confidence with premium Travel and Purchase Protection Benefits, including Trip Cancellation/Trip Interruption Insurance, Auto Rental Collision Damage Waiver, Purchase Protection and more
  • 24/7 direct access to dedicated customer service specialists
  • Introductory Annual Fee of $0 the first year, then $95

In This Review:

Things We Like About Chase Sapphire Preferred® Card
Our Least Favorite Things About Chase Sapphire Preferred® Card
How Chase Sapphire Preferred® Card Compares With Similar Cards
Our Verdict On Chase Sapphire Preferred® Card

Things We Like About Chase Sapphire Preferred® Card

  • Earn 50,000 bonus points when you spend $4,000 on purchases in the first 3 months after opening your account. These 50,000 points are worth $625 in travel if you redeem through Chase Ultimate Rewards.
  • Earn 5,000 bonus points after adding your first user and making a purchase within 3 months of getting your card account.
  • $0 introductory annual fee for the first year. Your annual fee for the first year will be $0, so you get to enjoy this card’s benefits for a year without paying a yearly charge. But be ready to pay a $95 annual fee after the intro period.
  • 1:1 point transfer. Points can be transferred to most frequent flyer programs and you will get 1 frequent flyer point for each reward point you transfer. Many other miles cards (including and Capital One® VentureOne® Rewards Credit Card) let you earn miles that are really more like points or cash back which you can redeem towards travel purchases, usually at a 100 miles = 1 cent rate. But this card gives you points that can be converted directly to frequent travel programs at a 1:1 rate. In other words the points you earn with Chase Sapphire Preferred® Card are worth their weight in actual frequent travel miles or points! Some of the frequent flyer programs that benefit from this 1:1 exchange rate include British Airways Executive Club, Southwest Airlines Rapid Rewards®, United MileagePlus® and Virgin Atlantic Flying Club. You can also transfer to hotel loyalty programs such as Hyatt Gold Passport®, Marriott Rewards®, IHG® Rewards Club and The Ritz-Carlton Rewards®. Even Amtrak Guest Rewards® is a 1:1 conversion rate partner.
  • Earn 2 points per $1 spent at restaurants and on travel. Every time you make a purchase at a restaurant using this card you will earn two points per $1 spent on purchases. You also earn these 2 points per dollar for travel bookings paid for with this card.
  • Earn 1 point per $1 spent on all other purchases. On all your other purchases you will receive 1 point per $1 spent. You earn these points on net purchases, such as money spent on shopping, paying your bills and making bookings. You don't earn points when you use this card to get travelers checks and cash advances, or make money orders. You also won't receive points for things you return or get refunded.
  • Get 20% off travel when you redeem your points for airfare, cruise bookings, hotel stays or car rentals through Chase Ultimate Rewards. Since you also earn 3 points per $1 when you book flights or hotels through this program, you might come out with the best deal when you make your bookings through them.
  • Primary auto rental coverage. This card gives you auto rental collision damage waiver coverage that insures you for damages to a rental car when you have an accident. Unlike most other cards which only offer secondary coverage above what's offered by your auto or rental car insurance, this card gives you primary insurance so you'll be covered even if your insurance, or the rental car's insurance don't cover collision damage. This is a major benefit if you use a lot of rental vehicles.
  • Trip cancellation and interruption coverage. If you are forced to cancel a trip due to unforeseen circumstances, you will be covered up to $10,000 as long as you paid for the bookings with this card. You will also receive this coverage if a trip is delayed or otherwise interrupted.
  • Chip and signature card. Chip technology lets you use this card almost anywhere outside of the US, while still letting you use your card as usual when you're in the US.
  • $0 foreign transaction fees means that when you use this card to make payments outside the US, you won't be charged an additional fee for your transactions. This is not only beneficial for traveling but also for online shopping at international stores.

Our Least Favorite Things About Chase Sapphire Preferred® Card

  • No low intro APR period for purchases and balance transfers. The variable APR on purchases and balance transfers is 15.99%, and you get this rate right from the start. You can avoid paying this interest by making all of your payments on time.
  • Cash advance fee. This is a good card to use to pay merchants when traveling, as it has no foreign transaction fee. But avoid using Chase Sapphire Preferred® Card to get cash (at ATMs for example). It has a cash advance fee of either $10 or 5% (whichever is greater) of the amount of each transaction. It also has a 24.99% variable APR for cash advances, and Chase begins charging interest for cash advances right from the time you make the transaction. That means that when you use this card to get a cash advance, you start paying interest on that money right away.

How Chase Sapphire Preferred® Card Compares With Similar Cards

Citi ThankYou® Premier Card is a similar credit card that lets you earn 3X ThankYou Points on travel (including gas), which is higher than what the Chase Sapphire Preferred® Card offers. You earn 2X ThankYou Points on entertainment and dining out purchases and 1X ThankYou Points on your other purchases. This card lets you transfer your available, qualifying ThankYou Points to participating travel loyalty programs which you are enrolled in at a 1:1 conversion rate for most partner programs, though you get 2,000 HHonors Bonus Points for 1,000 ThankYou Points, which makes this a rewarding card to use if you stay at Hilton a lot. Like Chase Sapphire Preferred® Card, this Citi card has no introductory low APR period and a $95 annual fee which is waived for the first 12 months. You earn 50,000 bonus ThankYou Points after making $3,000 of purchases in the first 3 months after account opening (redeemable for $500 in gift cards, $625 for airfare, and more). That bonus is the same as the current Chase Sapphire Preferred® Card offer, but you don't need to spend as much to earn it. This card also has no foreign transaction fees for purchases.

If you want an introductory low APR then you may prefer Capital One® VentureOne® Rewards Credit Card with its 0% intro APR on purchases until December 2016, and 11.9% - 21.9% variable APR thereafter. You earn unlimited 1.25 miles per dollar on every purchase, every day, but this card does not let you convert miles to frequent flyer programs at a 1:1 rate. Instead it lets you redeem your miles towards any travel purchase you make (100 miles = $1 of travel purchases). That gives you a lot of freedom to book travel as you please, but you will usually have to convert a lot more miles to get the same ticket, when compared to a card with a 1:1 conversion rate. This card has many useful travel benefits, and has $0 annual fee. You enjoy a one-time bonus of 20,000 miles ($200 in travel) after spending $1,000 on purchases within your first 3 months as a cardholder.

Discover it® Miles - Double Miles your first year lets you earn miles that can be redeemed at the rate of 100 Miles = $1 value. You can redeem any amount of miles toward travel purchases on your card statement, so you can choose which travel to book using this card and then redeem your miles towards the cost. This is pretty much the same setup you get with Capital One® VentureOne® Rewards Credit Card, and gives you a lot of flexibility, but don't expect to get the same kind of savings you could get by redeeming actual frequent flyer miles. On the upside, you get unlimited 1.5x Miles on every dollar you spend on purchases, and as a new cardmember you can take advantage of an exclusive double miles offer. At the end of your first year, Discover doubles all the Miles you've earned (remember, this is for new cardmembers only). Another perk is that Discover pays you back for your in-flight Wi-Fi fees (up to $30 a year) with an automatic statement credit. This card has no foreign transaction fee and no annual fee. However, you don't get the same travel insurance and purchase benefits that Chase Sapphire Preferred® Card gives you.

Chase Sapphire Preferred® Card is a rewarding credit card with a flexible rewards program, a 1:1 point transfer rate to participating frequent travel programs, no foreign transaction fee, solid travel insurance coverage and shopping benefits. If you travel often, this is one of the best credit cards you can use.

  • Our Verdict:

Chase Sapphire Preferred® Card is one of a precious few rewards credit cards that gives you 1:1 transfer of points to popular travel programs. Many other travel cards give you miles or points that redeem towards travel purchases at a very poor rate (typically 100 miles equals just $1 of travel).

You'll enjoy a lot of travel insurance benefits when you pay for travel with Chase Sapphire Preferred® Card, including trip cancellation/trip interruption insurance, which can reimburse your prepaid, non-refundable travel expenses, including passenger fares, tours and hotels up to $10,000 per trip if your trip is canceled or cut short by severe weather, sickness and other covered situations. On top of that, you get trip delay reimbursement, baggage delay insurance, travel accident insurance and lost luggage reimbursement.

In short, this is an excellent credit card for you if you are a frequent traveler and want to earn rewards towards travel just by paying for regular purchases. Considering the benefits, it's fair to say that the introductory annual fee of $0 the first year, then $95 will be worth paying if you take full advantage of the perks. The large bonus offer just sweetens the deal.