Chase Sapphire Preferred Review

Pam

 

I have to start my review of the Chase Sapphire Preferred with this disclaimer. When I first started travel hacking a few years ago, I didn’t even know about the Chase 5/24 rule. It definitely wasn’t as strict back then and many Chase cards did not fall under it. For that reason, I had probably about seven Chase cards and wasn’t affected by the rule. They then started putting some other cards like the Chase Hyatt, Chase IHG, etc under the rule. I was really lucky I started earlier and bypassed the rule with some of my cards. I never did get the Chase Sapphire Preferred Card for myself or my husband.

 

Chase Sapphire Preferred Credit Card

 

Once Alex and I began writing this blog, she convinced me that it was once of the very best cards to get and I really wanted it. By then both my husband and I were way over 5/24. I was determined to get it and with a combined stash of 2.5 million points/miles, I figured we could hold off on sign up bonuses and go for it. This was super, duper hard for me though. I hated just getting points on daily spending. I even caved a couple of times and got two new cards for my husband, thus extending that timetable for him to get under Chase 5/24. (It’s just so hard to not get those big signup bonuses!)

It took us almost a year for us to both get under 5/24 but we have both been approved now for the Chase Sapphire Preferred Card! This is me doing my happy dance:

Happy Dance GIF

 

Why was it so important for me to get under 5/24? What makes the Chase Sapphire Preferred so special? Read more in this Chase Sapphire Preferred Review.

Signup Bonus

For a limited time, Chase has increased this bonus to 100,000 Chase Ultimate Rewards! Now is the time to get this card if you haven’t yet!!

Nothing increases your bonus/points balance quicker than signup bonuses. The Chase Sapphire Preferred gives 60,000 Ultimate Rewards after a $4,000 minimum spend in 3 months. It took me less than two months to meet that minimum spend on this card. After I met the minimum spend, I referred my husband and got 15,000 bonus points! I’m now working on meeting the spend on my husband’s card. He needs new tires on his truck, so that should be a quick help to meeting his spending. Those 60,000 Ultimate Rewards are worth $750 when redeemed through the Chase Ultimate Rewards portal. The card does come with a $95 annual fee.

Transferable Points

Chase Ultimate Rewards are transferable points. Remember, there are several types of points you can get with different credit cards. Ultimate Rewards have great partners you can transfer your points to, including:

  • Aer Lingus
  • British Airways
  • Emirates
  • Flying Blue (KLM/Air France)
  • Hyatt
  • Iberia
  • IHG
  • JetBlue
  • Marriott
  • Ritz-Carlton
  • Singapore Airlines
  • Southwest
  • United
  • Virgin Atlantic

 

Your points transfer to any of these partners at a 1:1 ratio and all transfers except for Marriott and Singapore Airlines happen instantaneously. (Marriott is usually 39 hours and Singapore is usually the same day but can take up to 2).  These transfer partners make it easy for me to use my points.

Earning Points

When you are not earning bonus points, the Chase Sapphire Preferred will earn 2 Ultimate Rewards per $1 spent on travel (flights, hotels, taxis, trains) and also on dining. The card earns 1 point per dollar spent on all other purchases. While the earning rates aren’t the best out there when you add another Chase card to the mix like the Chase Freedom Unlimited or Chase Freedom Flex, you can really earn a lot of points on everyday spend! Alex uses her Freedom Unlimited card on most of her everyday spending because it earns 5% back on travel booked in the Chase Portal, 3% at drugstores, 3% on dining, and 1.5% on all other purchases. Then she just moves the points from that card into her Sapphire account. Check out this post to learn more about how she uses these two cards.

Other Benefits

  • Primary Auto Rental Collision Damage – this is huge as most offer only secondary insurance coverage.
  • No foreign transaction fees
  • Baggage delay insurance, trip delay, and interruption insurance
  • 24/7 access to customer service
  • Zero liability protection
  • Complimentary DashPass subscription from DoorDash for a minimum of 1 year after activating by December 31, 2021

 

It is important to remember that you need to use your card to pay for at least the taxes on an award flight to have these items covered. Alex got a new stroller because she had this card when it was damaged on a flight.

Bottom Line

My favorite benefit of the Chase Sapphire Preferred Card is that it is so easy to transfer to partners I use often. With my husband and I both having the cards, I should be able to enjoy a roundtrip business class seat to an international destination.  I am sure happy I finally got this card!

Business Class Seat on Airplane

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