Chase Sapphire Preferred Credit Card Review

The Chase Sapphire Preferred is the ideal card for casual travelers who want earn points on travel and dining. 

Key features

  • Annual fee: $95

  • Welcome bonus: 60,000 Ultimate Rewards points after $4,000 in spend within the first 90 days of account opening; equivalent to $750 when you redeem points for travel through the Chase Travel Portal

  • Spending Multipliers:

    • Earn 2X points on travel purchases including airfare, hotels, cruises, and rideshare

    • Earn 2X points on dining purchases including fine dining, coffee shops, and fast food restaurants

    • Earn 1X points on all other purchases

  • Foreign transaction fees: 0%

  • Redeem points for 1.25X in travel through the Chase Travel Portal

  • 1:1 Point transfer to airline and hotel partners

  • Primary collision damage waiver (CDW)

Review: Is the Chase Sapphire Preferred Worth It?

The Chase Sapphire Preferred has a $95 annual fee that is not waived your first cardmember year. Earn 2X points on travel and dining purchases. 


Chase Sapphire Preferred Spending Multipliers


The Chase Sapphire Preferred is ideal for those who want a higher point redemption (25%) for travel by using the Chase Ultimate Rewards Travel Portal and access to transfer partners. 

Travel confidently with built-in travel protections when you book trips with the Chase Sapphire Preferred. Below are a handful of travel benefits:

  • Primary auto rental collision damage waiver (CDW)

  • Trip cancellation/interruption insurance

  • Baggage delay insurance

  • Trip delay reimbursement

If you're looking for access to airport lounges, consider the Chase Sapphire Reserve instead. 

Who Should Get the Chase Sapphire Preferred?

The Chase Sapphire Preferred is good for anyone who...

  • Wants a travel credit card that has trip protections and no foreign transaction fees

  • Spends a lot on dining and wants to accumulate points for travel

  • Wants access to the Chase Ultimate Rewards Travel Portal to redeem points for travel at 1.25X

How Much Are Chase Ultimate Rewards Points Worth?

Depending on how you plan on redeeming your Chase Ultimate Rewards points, they can be worth between 1-2 cents per point. 

Chase Ultimate Rewards Redemption Rates
Value Per Point
Statement Credits 1 cent
Cash Back 1 cent
Gift Cards 1+ cent
Travel via Chase Ultimate Rewards Travel Portal 1.25 cents
Airline and Hotel Transfer Partners 1.25+ cents

Optimal Strategy

If you have the Chase Freedom and the Chase Freedom Unlimited, the optimal strategy would be to pool the Ultimate Rewards points you earn from those cards to the Chase Sapphire Preferred.

The Chase Sapphire Preferred is a travel card that lets you redeem points for travel via the Chase Ultimate Rewards Travel Portal for 1.25X. If you want to get even more value from the Ultimate Rewards points, you can transfer the points out to airline or hotel transfer partners and get up to 2 cents per point in value.

Product Change Options

If for some reason you don't get positive expected value from the Chase Sapphire Preferred after the first year, you can product change it to a Chase Freedom or Chase Freedom Unlimited.

You cannot request a product change if the Chase Sapphire Preferred is less than 12 months old.

On the other hand, if you want even more travel benefits after the first year of having the Chase Sapphire Preferred, you can product change the card to a Chase Sapphire Reserve

Important note: The Chase Sapphire Reserve $450 annual fee is issued on the first billing statement. You do not receive a signup bonus for the Chase Sapphire Reserve when you request a product change.

Editorial Note: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airlines or hotel chain, vendors or companies, and have not been reviewed, approved, or otherwise endorsed by any of these entities. 

UGC disclosure: These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.”