Chase Sapphire Preferred® Credit Card benefits and features

The Chase Sapphire Preferred® Credit Card has consistently emerged as a frontrunner in the competitive market of travel rewards credit cards. Designed for individuals with a penchant for travel and dining, it offers an array of benefits and features that cater to both the avid wanderer and the casual diner.

Whether you're contemplating your first premium credit card or looking to upgrade your wallet's lineup, the Chase Sapphire Preferred® is worth considering. Let’s delve into its perks, bonuses, and how it stacks up against other top-tier credit cards.

What Are the Benefits of the Chase Sapphire Preferred® Credit Card?

The card is much more than a basic piece of plastic; it's a tool that unlocks a world of travel privileges and rewards. Cardholders enjoy diverse benefits including:

• 2 points per dollar on travel and dining purchases worldwide.
• 5 points per dollar on travel purchased through Chase Ultimate Rewards®.
• 3 points on dining, including eligible delivery services, takeout and dining out.
• 1 point per dollar on all other purchases with no caps.
• Points are worth 25% more when redeemed for travel through Chase Ultimate Rewards®.

These benefits make every dollar spent a step closer to your next getaway or culinary exploration.

The card does not restrict the airlines or hotels where points can be used, giving cardholders the freedom to travel how they want. Additionally, points can be transferred to numerous leading airline and hotel loyalty programs at a 1:1 ratio.

Is the Chase Sapphire Preferred® Credit Card Worth the $95 Annual Fee?

While the $95 annual fee may cause some to hesitate, it's important to assess the value you get in return. The card's lucrative sign-up bonus alone can offset the fee for the first year. Here's a breakdown of how the fee stacks up against the benefits:

• The sign-up bonus is worth more than the annual fee if redeemed for travel through Chase Ultimate Rewards®.
• Travel and dining rewards accumulate quickly and can be redeemed for a variety of options.
• Additional card features, such as travel protection insurance, can save money on travel-related expenses.

For travelers and food enthusiasts, the card proves its worth well beyond the annual fee.

How Does the Chase Sapphire Preferred® Compare to the Chase Sapphire Reserve?

When placed side-by-side with its sibling, the Chase Sapphire Reserve, the Preferred card presents a more accessible option with a lower annual fee. However, the Reserve card offers higher point earning potential and luxury travel benefits. Here's a closer look:

• The Reserve card comes with a hefty $550 annual fee but offers a $300 annual travel credit.
• Preferred cardholders earn 5 points on travel purchased through Chase Ultimate Rewards®, while Reserve cardholders earn a staggering 10 points.
• Both cards offer exceptional travel protection but the Reserve includes premium perks like lounge access.

Choosing between the two comes down to your lifestyle and how much you're willing to invest for premium travel benefits.

What Are the Earning Categories of the Chase Sapphire Preferred® Credit Card?

The Chase Sapphire Preferred® offers a tiered rewards system that caters to travelers and diners:

1. Travel: Earn 2 points per dollar spent on travel purchases or 5 points on travel through Chase Ultimate Rewards®.
2. Dining: 3 points per dollar spent on dining, including takeout and delivery.
3. Streaming Services: Cardholders earn 3 points per dollar spent on eligible streaming services.
4. Other Purchases: All other purchases earn 1 point per dollar, ensuring every purchase contributes towards rewards.

Maximizing rewards is simple with the diverse earning categories provided.

What Travel Protections Does the Chase Sapphire Preferred® Credit Card Offer?

Travel with ease knowing the Chase Sapphire Preferred® comes equipped with comprehensive travel protection benefits:

• Trip Cancellation/Interruption Insurance.
• Auto Rental Collision Damage Waiver.
• Baggage Delay Insurance.
• Trip Delay Reimbursement.
• Travel and Emergency Assistance Services.

These protections provide a safety net for the unforeseen, giving you peace of mind whenever you embark on a journey.

What Is the Sign-Up Bonus for the Chase Sapphire Preferred® Credit Card?

The card's sign-up bonus is a gateway to extensive travel opportunities. New cardholders can earn 60,000 bonus points after spending $4,000 on purchases in the first three months from account opening. This bonus is equivalent to $750 towards travel when redeemed through Chase Ultimate Rewards®, which can be a significant boost for your travel budget.

Considering the card's broad spectrum of rewards and benefits, the sign-up bonus is the cherry on top that makes the Chase Sapphire Preferred® an excellent choice for your next credit card.

Chase Sapphire Preferred® Credit Card Redemption Options

Your earned points open up a world of redemption options including:

• Direct travel bookings through Chase Ultimate Rewards®.
• Transfers to airline and hotel partners at a 1:1 value.
• Redemption for gift cards, merchandise, or experiences.
• Cash back or statement credits.
• Points can even be used for charitable donations.

With flexible redemption options, you can tailor how you use your points to fit your lifestyle and preferences.

Before delving into some common queries about the card, let's take a look at a helpful video that provides more insights into the card's benefits:

Questions Related to Chase Sapphire Preferred® Card Features and Benefits

Is the Chase Sapphire Preferred Card Still Worth It?

Even with the market's evolving credit card landscape, the Chase Sapphire Preferred Card retains its value due to its reasonable annual fee and robust benefits. The card's worth is particularly evident for those who travel and dine out frequently, as these are the categories that earn the most points.

Furthermore, the wide range of redemption options ensures that the points you earn can be adjusted to fit your preferences, from travel to cashback.

Is the Chase Sapphire Preferred Card Hard to Get?

Obtaining a Chase Sapphire Preferred Card typically requires a good to excellent credit score. While Chase doesn't disclose specific credit score requirements, applicants with higher credit scores tend to have better approval odds.

Prospective cardholders should also consider their credit history and income as factors that will be evaluated during the application process.

What Are the Disadvantages of Chase Sapphire Preferred?

No credit card is perfect, and the Chase Sapphire Preferred® has its drawbacks. For starters, the $95 annual fee can be off-putting for some, especially if they are not able to maximize the card's benefits to offset it. Additionally, while the card offers generous travel benefits, it lacks some premium features such as airport lounge access, which is available with more expensive cards.

The card may also not be the best option for those seeking the highest possible rewards rate on non-travel and non-dining purchases. However, for its target audience, the advantages tend to outweigh these concerns.

What Is the Average Credit Limit on Chase Sapphire Preferred?

The average credit limit for the Chase Sapphire Preferred® Card varies based on individual creditworthiness and income. As a Visa Signature card, it requires a minimum credit limit of $5,000, but many cardholders report higher limits.

Keep in mind that a strong credit score and stable income are key factors in securing a higher credit limit.

The Chase Sapphire Preferred® Credit Card continues to be a standout choice for those who prioritize travel and dining, offering a blend of practical benefits and the potential for exciting rewards. With its generous sign-up bonus, flexible points redemption, and solid travel protections, it's a card that can adapt to your lifestyle and reward your spending habits.

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