Chase Sapphire Preferred® Card is, in my opinion, one of the best premium rewards credit cards to get right now. Issued by JPMorgan Chase, this card gives you 40,000 bonus points when spending $4,000 on purchases within the first 3 months from account opening. These 40,000 points are twice as many points as the old promotion, and are worth $500 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. I think this is definitely one of the largest bonus offers I've seen so far in the credit card market this year. To qualify for this card, you must have a good to excellent credit score.

Things We Like About This Card

Earn 40,000 bonus points when you spend $4,000 on purchases in the first 3 months after opening your account. These 40,000 points are worth $500 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 1 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. Other credit cards rewards programs give you a rate as low as 1 mile per 2 rewards points transferred. 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®.

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.

No 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 This 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.

  • Our Verdict:
  • 4.60/5 Stars

Chase Sapphire Preferred® Card is a travel rewards card that offers real travel benefits such as primary car rental collision damage waiver coverage and 1:1 transfer of points to popular travel programs. It comes with an large signing offer of 40,000 points ($500 worth of travel through Chase Ultimate Rewards) when you spend just $4,000 on purchases with this card in the first 3 months. Add to that another 5,000 points you can earn when you add your first user and make a purchase in the same 3 month period and you have 45,000 points! Although there is an annual fee of $95 (waived for the first year) the money you save by earning and redeeming points should more than cover this fee. It doesn't offer a low interest intro APR period for purchases like Capital One® VentureOne® Rewards Credit Card does (0% intro APR on purchases until September 2016, 11.9% - 21.9% variable APR thereafter), so it isn't the right card to get if you plan to take out credit for large purchases. Chase Sapphire Preferred® Card is a good card to get if you like to earn travel rewards fast and enjoy solid travel related benefits.

Click here to go to the official Chase website to apply online for Chase Sapphire Preferred® Card now.