Credit Cards » Credit Card Reviews » Chase Sapphire Preferred Card: 2022 Review
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Chase Sapphire Preferred Card: 2022 Review

If you spend much of your time traveling and eating out, the Chase Sapphire Preferred is an excellent card offering some of the best travel rewards in the market.

You can trust the integrity of our unbiased, independent editorial staff. We may, however, receive compensation from the issuers of some products mentioned in this article. See how we make money.

In This Review..

The Chase Sapphire Preferred® Card is a travel rewards card issued by Chase Bank. This is a very popular travel rewards card because it offers a large sign-up bonus and the card is built around traveling. Many travel rewards cards have higher annual fees for the same kind of rewards.

This card is on our top spot in regards to the best traveling and dining cards as they offer you more points compared to other cards. In addition, Chase Bank offers a 25% point’s bonus, whenever you redeem the points for travel. The card offers a welcome bonus of 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening , this is equivalent to $750 in travel costs when you redeem your travel rewards.

You shall also earn 5x total points on travel purchased through Chase Ultimate Rewards, 3x points on dining and 2x on other travel purchases. Plus, earn 1 point per dollar spent on all other purchases .

However, with all of these rewards, you should note that the card has an annual fee of $95 but the benefits outweigh the cost, and most people use the card, regardless of the fee. 

Chase Sapphire Preferred® Card
chase_sapphire_preffered

On Chase Secure Website

Rewards Plan

2x-5x points 5x total points on travel purchased through Chase Ultimate Rewards, 3x points on dining and 2x on other travel purchases. Plus, earn 1 point per dollar spent on all other purchases

Welcome Bonus

60,000 points 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening[/sc]

Intro APR

N/A

PROS

CONS

APR

16.74% - 23.74% Variable

Annual Fee

$95

Balance Transfer Fee

5% or $5, whichever is greater

Credit Requirements

Good – Excellent

Card & Issuer Reputation

  • 4/5  on WalletHub customer reviews (+3,300 reviews): WalletHub customer reviews allow customers to post positive, negative or neutral reviews about marketplace experiences.
  • 4.5/5 on Official Card Website customers reviews ( +7,800 reviews): Customers can express their opinion on the official card website. It reflects the overall measurement of reviewer satisfaction, represented numerically from 1 to 5.
  • 809/1000 on J.D Power: Chase got 809 out of 1000 available points on J.D. Power credit card satisfaction survey, a bit lower than the industry average. J.D Power offers the most comprehensive and independent study of customer satisfaction of card issuers . The study aims to help consumers and issuers to understand user opinions and ratings of the largest bands. It covers terms, benefits, services, communication, rewards and more.

J.D. Power U.S. Credit Card Satisfaction Study 2020

Benefits

Let’s take a look at the benefits of the Chase Sapphire Preferred card and see if it’s the right one for your wallet or not.

If you have a problem while traveling, contact the Benefit Administrator for legal and medical referrals, as well as other travel and emergency assistance. (You will bear the cost of any goods or services obtained.)

There are no dates when the points cannot be redeemed. 

They can be redeemed at any time of the year. In addition, the points do not expire and there are no limits on the use of the points.

If your trip is canceled or cut short due to illness, severe weather, or other covered circumstances, you may be reimbursed up to $10,000 per person and $20,000 per trip for pre-paid, non-refundable travel expenses such as passenger fares, tours, and hotels.

Reimburses you up to $100 per day for 5 days for essential purchases such as toiletries and clothing due to baggage delays of more than 6 hours by passenger carrier.

If your common carrier flight is delayed for more than 12 hours or necessitates an overnight stay, you and your family are covered for unreimbursed expenses such as meals and lodging up to $500 per ticket.

For 120 days, your new purchases are protected against damage or theft up to $500 per claim and $50,000 per account.

Also, on eligible warranties of three years or less, extends the time period of the U.S. manufacturer's warranty by an additional year.

Your points go further when you book through Ultimate Chase Rewards

This includes flights, hotels, cruise, and car rentals. You can also combine rewards from other Chase credit cards to boost your points.

Chase Sapphire Preferred has no transaction fees while traveling in another country. 

Many other cards have fees when you make purchases outside of the United States.

Refuse the rental company's collision insurance and charge the full rental amount to your credit card.

For most rental cars in the United States and abroad, coverage is primary and provides reimbursement up to the actual cash value of the vehicle for theft and collision damage.

Break up Chase card purchases into budget-friendly payments with no interest. However, you'll pay a fixed monthly fee.

Top Offers From Our Partners

Rewards Plan:
Up to 10X points 5X total points on air travel and 10X total points on hotels, car rentals when you purchase through Chase Ultimate Rewards®, immediately after earning your $300 annual travel credit. Also, earn 3x points on dining at restaurants and travel (after meeting the $300 travel credit), then 1x points per dollar spent on all other purchases
Welcome Bonus: 50,000 points 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening
chase_sapphire_preffered
Rewards Plan:
2x-5x points 5x total points on travel purchased through Chase Ultimate Rewards, 3x points on dining and 2x on other travel purchases. Plus, earn 1 point per dollar spent on all other purchases
Welcome Bonus: 60,000 points 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening
The Platinum Card® from American Express
Rewards Plan:
Up to 5x points 5X points on up to $500,000 spent on directly-booked airfare and flights and prepaid hotels booked through American Express Travel (per calendar year), 2X points on prepaid car rentals through American Express Travel and 1X points on all other purchases
Welcome Bonus: 100,000 points 100,000 points when you spend $6,000 in the first six months

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The product offers that appear on this site are from companies from which this website receives compensation. 

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Drawbacks

Here are the most important cons you should consider before applying:

There is an annual fee of $95 . If you don't plan to use the card regulary, make sure your spedning covers it.

The APR for the Chase Sapphire Preferred is 16.74% – 23.74% Variable variable rate, which is a bit high for a card that requires borrowers with good credit histories. 

Along with not offering an introductory APR rate, Chase Sapphire Preferred has a large balance transfer fee of 5% or $5, whichever is greater . This fee is higher than the industry average of 3%. 

Keep in mind – you can always try to negotiate your balance transfer fee.

If you are looking to use some of your reward points on merchandise, be aware that the conversion of points to reward for merchandise is low. The rewards should be used on travel.

This card does not offer any introductory rate like many other credit cards do. 

This means if you are looking to transfer balances to a lower rate you will have to consider other cards.

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AMERICAN EXPRESS gold card

Rewards Plan:
1x – 4x Points 4X points at restaurants (including Uber Eats purchases in the U.S.) and U.S. supermarkets (up to $25,000 per year in purchases, then 1X points), 3X points on flights booked directly with airlines or on amextravel.com, 2X points on rental cars through amextravel.com and 1X points on all other purchases
Welcome Bonus: 60,000 points 60,000 Membership Rewards® Points after you spend $4,000 on eligible purchases with your new Card within the first 6 months of Card Membership

citi_premier_card

Rewards Plan:
Up to 3X points 3X points per dollar on restaurant, supermarket, gas station, hotel and air travel purchases, and 1X points per dollar on all other purchases
Welcome Bonus: 80,000 points 80,000 points after you spend $4,000 in the first 3 months of account opening
Rewards Plan:
Unlimited 1-4% unlimited 4% cash back on dining, entertainment, and popular streaming services, 3% at grocery stores and 1% on all other purchases.
Welcome Bonus: $300 $300 cash bonus once you spend $3,000 on purchases within 3 months from account opening

Advertiser Disclosure

The product offers that appear on this site are from companies from which this website receives compensation. 

How Much Rewards You Can Earn? Calculation

The Sapphire Proffered card offers rewards on a variety of categories. However, in order to better understand the bottom line – it's always a good idea to calculate the expected rewards per category.

Don't forget to make the adjustments based on your own spending habits – and make sure it's, at least, covers the annual fee.

chase_sapphire_preffered
Spend Per Category
Chase Sapphire Preferred® Card
$15,000 – U.S Supermarkets
45,000 points
$5,000 – Restaurants
15,000 points
$2,000 – Airline
10,000 points
$2,000 – Hotels
10,000 points
$4,000 – Gas
4,000 points
Total Points
84,000 points
Estimated Redemption Value
1 point = 1 – 1.25 cents
Estimated Annual Value
$840 – $1,050

* Assuming all travel purchases are purchased through Chase Ultimate Rewards®.

Where to Redeem Your Rewards?

You should be aware that the redemption rates for these two cards differ.

While Chase offers a variety of redemption options, many of them are less lucrative than redeeming all of your credit for travel. For example, some redemption offers include receiving a statement credit or an automatic electronic deposit into your Chase checking account or any other eligible bank. While this may appear to be a good option if you are short on cash or need to reduce your balance, it does not provide the same benefits as redeeming the same credit for travel.

You can transfer your Chase Ultimate Rewards points to one of Chase's airline or hotel partners. For example, if you find a $600 flight on Air France for 35,000 points, you can book the flight with the 35,000 points you have with Chase. This removes the need to accumulate points with multiple airlines in order to save money on flights.

Some of Chase's partner airlines include Air France/KLM, Iberia, Southwest, United, Emirates, Iberia, and Aer Lingus, as well as British Airways. Among the hotel options are Hyatt, Marriott Bonvoy, and Intercontinental Hotels Group.

Although having a gift card appears to be a good idea, you will not be able to earn enough money to travel or take a vacation.

Simply log into your credit card portal or card app and select the appropriate option to claim your rewards. There will be instructions to follow in order to finish the process.

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capital-one-venture
Rewards Plan:
Unlimited 2X miles 2X miles per dollar on every purchase, plus 5X miles on hotels and rental cars booked through Capital One Travel
Welcome Bonus: 75,000 miles 75,000 miles once they spend $4,000 on purchases within 3 months from account opening

Bank of America® travel rewards

Rewards Plan:
Unlimited 1.5X points 1.5 points for every $1 you spend on all purchases everywhere, every time and no expiration on points
Welcome Bonus:25,000 points 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening – which can be redeemed for a $250 statement credit toward travel purchases
chase_sapphire_preffered
Rewards Plan:
2x-5x points 5x total points on travel purchased through Chase Ultimate Rewards, 3x points on dining and 2x on other travel purchases. Plus, earn 1 point per dollar spent on all other purchases
Welcome Bonus: 60,000 points 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening

Advertiser Disclosure

The product offers that appear on this site are from companies from which this website receives compensation. 

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Make The Most Of Your Preferred Card

Here are some pointers to help you make the most of your Chase Sapphire Preferred:

  • Check out the Chase Ultimate Rewards platform: Don't assume that this platform is only for airfare; there are a variety of travel products available, and when you make purchases through Ultimate Rewards, you'll receive 5% instead of the usual 2%.
  • Book Your Fares – When you use your card to book your travel, you will receive free insurance, which includes baggage delay and travel interruption/cancellation coverage.
  • Buy New Items – When you use your card to buy new items, you'll get extended warranty protection and coverage against damage or theft.
  • Add Family Members: You are able to add each member of your family as an extra user without incurring any extra cost. This can lead to you accumulating rewards at a much faster rate. 

How To Apply For Chase Sapphire Preferred Card?

Visit the Chase Sapphire Preferred Credit Card homepage and click “Apply as a guest.” 

Sapphire preferred application

A page appears to get you started, which includes your names, mailing address, date of birth, etc. 

Next, specify your statement and communication delivery preference. Now, take your time to read through the E-Sign Disclosure as well as the Pricing & terms. 

Lastly, agree to the certifications and click “Submit.”

Is the Chase Sapphire Preferred Card Right for You?

Chase Sapphire Preferred is one of the best travel rewards cards for those with good to excellent credit. If you spend much of your time traveling and eating out, this is an excellent card offering some of the best travel rewards in the market. 

Chase Sapphire Preferred offers a very large sign-up bonus as well as many other benefits designed for travelers. However, If you are looking for introductory APR, cash back, no annual fee, or points for merchandise, you should consider a different card. 

Chase Sapphire Preferred also has a large transfer fee so it should only be considered for purchases. It is primarily for consumers who want to maximize their travel rewards.

Compare The Alternatives

There are other credit cards that do offer comparable cash back rewards – we’ve summarized the most popular cards which can use as an alternative to the Chase Sapphire Preferred Card:

Bank of America® travel rewards

capital-one-venture
chase_sapphire_preffered
Bank of America® Travel Rewards credit card
Capital One Venture Rewards Credit Card
Chase Sapphire Preferred® Card
Annual Fee
$0
$95
$95
Rewards
Unlimited 1.5X points 1.5 points for every $1 you spend on all purchases everywhere, every time and no expiration on points
Unlimited 2X miles 2X miles per dollar on every purchase, plus 5X miles on hotels and rental cars booked through Capital One Travel
2x-5x points 5x total points on travel purchased through Chase Ultimate Rewards, 3x points on dining and 2x on other travel purchases. Plus, earn 1 point per dollar spent on all other purchases
Welcome bonus
25,000 points 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening – which can be redeemed for a $250 statement credit toward travel purchases
75,000 miles
60,000 points 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening
Foreign Transaction Fee
0%
None
0%
Purchase APR
14.24% – 24.24% variable APR on purchases and balance transfers
16.24% – 24.24% Variable
16.74% – 23.74% Variable

FAQ

There is no sort of limit in place how much cash back or rewards that you can earn when you are using this card over time.

Yes, you can get car rental insurance with this card if you decline the collision cover of the rental company and pay for the entire cost of the rental car with this card.

Please review the specific details before, to make sure you're covered as needed.

There are no transparent income requirements, but it usually is expected that your annual income is at least $50,000 and you may be asked for proof of income.

Your points won’t expire once you keep the credit card account open. Therefore, you will not be under pressure to use up points before they end up expiring.

Yes, you are able to pre-qualify for this card. This means that you know if you can get this card without having to go through a hard credit check initially.

The minimum credit limit that you can get with this card type is usually $5,000. The exact credit limit will depend on what answers you provide in your application.

You can redeem your points in a variety of ways through the Chase credit card reward portal. Some of the perks you can get include cash, travel credit, statement credit, and gift cards.

If you travel frequently and do not want to pay a large annual fee, then this could be a good option for you to choose.

You might not have met one of its requirements. You will usually find out where you fell short. You might be able to rectify the issue or you might have to look elsewhere.

If you meet all of the outlined requirements, then it is relatively straightforward for you to get a Chase Sapphire Preferred card if you wish.

You can redeem your points in a variety of ways through the Chase credit card reward portal. Some of the perks you can get include cash, travel credit, statement credit, and gift cards. Maximizing rewards see you using it for all dining and travel-related purchases.

You want bigger travel-related perks or you do not really travel much at all. These are aspects that are not ideally covered by this card.

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Rewards Plan:
1-6% 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit and U.S. gas stations, 1% cash back on other purchases
Welcome Bonus: $350 $350 back in the form of a statement credit after you spend $3,000 in purchases on your new card in your first 6 months of Card Membership
citi-custom-cash_
Rewards Plan:
Up to 5% cash back 5% cash back on your highest eligible spend category each billing cycle up to the first $500 spent and 1% cash back thereafter
Welcome Bonus: $200 $200 cash back after you spend $750 on purchases in the first 3 months of account opening
Chase Freedom Flex
Rewards Plan:
1-5% 5% cash back on up to $1,500 in combined purchases on selected categories each quarter and 5% cash back on travel purchased through Chase Ultimate Rewards®. Also, you can earn 3% cash back on dining at restaurants (including takeout and eligible delivery services), drugstore purchases , and 1% on all other purchases
Welcome Bonus: $200 $200 bonus after you spend $500 on purchases in the first 3 months from account opening

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The product offers that appear on this site are from companies from which this website receives compensation. 

Editorial Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.

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In order to determine the best possible credit cards, we look at things like fees, interest rates and rewards. We do this with companies that are associated with us as partners as well as other offerings. From there, we make a decision about what the best card is related to different categories and needs. We focus on interest rate cost & fees, especially the cost of carrying a balance, rewards – cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely usability – cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting. We also consider customer reviews.

We look at cards related to good or excellent credit ratings that will then provide a range of different benefits and improvements for someone who has these scores. We also look at low fees when it comes to those who have lower credit scores.