It’s time for a Chase Sapphire Preferred review in 2020! This is one of the best travel credit cards available, but only for select use cases. Let’s see what they are… **APPLY FOR THE SAPPHIRE PREFERRED! (My referral link):
SIGNUP BONUS
Current: Earn 80,000 Chase Ultimate Rewards points after spending $4,000 in the first 3 months. The value of this signup bonus is about $1,600 toward travel via Chase transfer partners (average), $1,000 toward travel via the Chase travel portal, and $800 for cash back.
Standard: Earn 60,000 Chase UR points after spending $4,000 in the first 3 months. The value of this welcome offer is about $1,200 toward travel via Chase transfer partners (average), $750 toward travel via the Chase travel portal, and $600 for cash back.
VALUE OF CHASE POINTS
2.0¢ each toward travel via Chase transfer partners (avg.)
1.25¢ each toward travel via Chase Ultimate Rewards travel portal and Chase Pay Yourself Back
1.0¢ each for cash back
CHASE SAPPHIRE PREFERRED EARNING POINTS
2X Travel
2X Dining
1X Everything Else
ANNUAL FEE
$95
CHASE TRANSFER PARTNER LIST
Aer Lingus, AerClub
British Airways Executive Club
Emirates Skywards
Flying Blue Air France KLM
Iberia Plus
JetBlue TrueBlue
Singapore Airlines KrisFlyer
Southwest Airlines Rapid Rewards
United MileagePlus
Virgin Atlantic Flying Club
IHG Rewards Club
Marriott Bonvoy
World of Hyatt
WHAT COUNTS AS TRAVEL WITH CHASE?
CHASE SAPPHIRE PREFERRED BENEFITS
- Ultimate Rewards points are worth 25% more when redeemed via travel portal or Chase Pay Yourself Back feature
- Transfer Ultimate Rewards points to travel partners at a 1:1 ratio
- Receive at least 12 months of DashPass by DoorDash for free
- Earn 5X UR points for purchases with Lyft
- No foreign transaction fees
- Strong insurance protections. See link to ‘Guide to Benefits’ below.
GUIDE TO BENEFITS LINK
GOOD TO KNOW
- Subject to Sapphire Family Rule: Can have 1 Sapphire branded card at a time (e.g. EITHER Sapphire Preferred OR Sapphire Reserve)
- Subject to 1/48 Rule: 1 Sapphire branded bonus every 48 months
- Subject to 5/24 Rule: Auto denial if you’ve opened 5+ cards w/ any issuer in past 24 months
Upgrade & downgrade: Upgrade to Sapphire Reserve ($550 AF) or downgrade to Freedom-branded card ($0 AF) or no-fee Sapphire Card. Not eligible for welcome bonuses when doing this.
SHOULD YOU APPLY FOR THE CHASE SAPPHIRE PREFERRED CARD?
YES if you…
- Value travel points over cash back
- Have other Chase cards that earn Ultimate Rewards points, including the Chase Freedom Flex, Chase Freedom Unlimited, or original Chase Freedom credit cards
- Fly United Airlines or Southwest Airlines, or stay at Hyatt hotels
- Value the other Ultimate Rewards transfer partners
- Want the bonus (it’s one of the best credit card bonuses available!)
NO if you…
- Prefer cash back credit cards
- Are over the Chase 5/24 Rule
- Want a good ‘daily use’ credit card
IS THE CHASE SAPPHIRE PREFERRED A METAL CREDIT CARD?
YES…the Chase Sapphire Preferred is a metal credit card ;-)
#creditcards #chase #sapphirepreferred
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