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Chase Sapphire Preferred® Card: review

With Chase Sapphire Preferred® Card, you can earn rewards — known as Ultimate Rewards® points — in a variety of ways and redeem them strategically for travel, like transferring those points to a variety of loyalty programs, including United Airlines or Hyatt, for example.

Overall, it’s a go-to card for travelers who delight in finding ways to reap big value from their rewards.

Pros & Cons


  • Earn high rewards on several areas of spending
  • Transfer points to travel partners at 1:1 rate
  • Many travel and shopping protections
  • New cardholder bonus offer
  • Bonus categories
  • Primary rental car coverage
  • Flexible rewards redemption
  • Transfer partners


  • Annual fee
  • No intro APR offer
  • Requires good/excellent credit
  • Complicated rewards
  • Best travel rewards are only for bookings through Chase

Rates, fees & offers

  • Annual fee: $95.
  • Rewards rate: 1x – 5x
  • Bonus offer: earn 60,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening
  • Intro APR: N/A
  • Ongoing APR
    APR: 15.99% – 22.99% Variable APR

Penalty APR: 29.99%
Cash Advance APR: 24.99%, Variable

  • Balance transfer fee: Either $5 or 5% of the amount of each transfer, whichever is greater
  • Foreign transaction fee: None


Ultimate Rewards

Ultimate Rewards are both flexible and valuable. You have the ability to transfer Ultimate Rewards to a variety of airline frequent flyer programs and hotel chains, such United Airlines and Hyatt.

An Ultimate Rewards point from your Chase Sapphire Preferred® Card is worth 1.25 cents per point when redeemed through the Chase travel portal or when using Pay Yourself Back. The Chase Sapphire Preferred also offers one of the best-in-class travel protections.

25% Point Bonus

A notable feature of the Chase Sapphire Preferred is that your earnings are worth 25% more when redeemed for travel through the Chase Travel Center or for eligible purchases using the Pay Yourself Back feature.

This means that 50,000 Ultimate Rewards points are worth $500 in cash back or $625 on travel or to pay yourself back for eligible purchases. Redeeming your points with a bonus will provide more value than cards offering similar rewards structures but don’t have the enhanced redemption value.

Big Welcome Bonus

The Sapphire Preferred comes with one of the most generous welcome bonuses currently available on a personal credit card: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.

That’s $750 when you redeem through Chase Ultimate Rewards®. That’s an excellent value from a card that costs less than $100 a year to own and it’s also a larger bonus than the one on the Sapphire Reserve.

How to request this card

Applying for a credit card is very simple and you can do it through the app or website. But you need:

  • Social Security Number
  • Gross income
  • Employer name (if applicable)
  • Rent/mortgage amount

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