What To Know
- The Chase Sapphire Preferred® Card is a premium credit card that offers a plethora of benefits.
- The card only offers bonus points in a few specific categories, so it may not be the best choice for those who spend heavily in non-bonus categories.
- No annual fee for the first year, then $95, earns 3x points on dining, groceries, gas, and travel, and offers a $750 sign-up bonus.
The Chase Sapphire Preferred® Card is a premium credit card that offers a plethora of benefits. But is it a good choice for everyday use? In this comprehensive guide, we’ll delve into the card’s features, rewards, and fees to determine its suitability for daily spending.
Earning Points on Everyday Purchases
The Chase Sapphire Preferred® Card excels at earning points on everyday purchases. Cardholders earn:
- 2 points per dollar on dining and takeout
- 2 points per dollar on travel (airfare, hotels, rental cars)
- 1 point per dollar on all other purchases
Flexible Redemption Options
The Chase Ultimate Rewards® points earned with the Sapphire Preferred® Card are incredibly versatile. They can be redeemed for:
- Travel: Book flights, hotels, and rental cars directly through Chase’s travel portal or transfer points to airline and hotel loyalty programs.
- Cash back: Redeem points for cash deposits into your bank account.
- Gift cards: Choose from a wide range of gift cards from popular retailers.
- Experiences: Use points to book exclusive dining, entertainment, and travel experiences.
Sign-Up Bonus and Annual Fee
The Chase Sapphire Preferred® Card offers a generous sign-up bonus of 60,000 points after spending $4,000 within the first three months of account opening. However, the card also carries an annual fee of $95.
Travel Perks
In addition to earning points on travel purchases, the Sapphire Preferred® Card provides several travel perks:
- No foreign transaction fees
- Primary rental car insurance
- Trip cancellation/interruption insurance
- Access to airport lounges with Priority Pass membership
Dining and Entertainment Rewards
The card’s dining and takeout category is another area where it shines. Cardholders earn 2 points per dollar on these purchases, making it a good choice for those who dine out frequently.
Everyday Spending and Other Benefits
While the Sapphire Preferred® Card offers many benefits for everyday use, it’s important to consider its limitations:
- Limited bonus categories: The card only offers bonus points in a few specific categories, so it may not be the best choice for those who spend heavily in non-bonus categories.
- High annual fee: The $95 annual fee can offset some of the rewards earned, especially for those who don’t travel or dine out frequently.
- Competition from other cards: There are other credit cards with lower annual fees and similar rewards structures, so it’s worth comparing options before applying.
Is Chase Sapphire Preferred Good for Everyday Use?
The answer to this question depends on individual spending habits and financial goals. For those who travel frequently, dine out regularly, and value travel perks, the Chase Sapphire Preferred® Card can be a worthwhile investment. However, those who don’t spend heavily in bonus categories or don’t travel may find the annual fee outweighs the rewards.
Alternatives to Chase Sapphire Preferred
If you’re looking for alternatives to the Chase Sapphire Preferred® Card, consider the following:
- Chase Freedom Flex℠: No annual fee, earns 5% cash back in rotating categories, and offers a $200 sign-up bonus.
- Discover it® Cash Back: No annual fee, earns 5% cash back in rotating categories, and matches all cash back earned at the end of your first year.
- Citi Premier® Card: No annual fee for the first year, then $95, earns 3x points on dining, groceries, gas, and travel, and offers a $750 sign-up bonus.
Common Questions and Answers
Q: What is the annual fee for the Chase Sapphire Preferred® Card?
A: $95
Q: How many points can I earn on dining and takeout purchases?
A: 2 points per dollar
Q: Can I transfer Ultimate Rewards® points to airline and hotel loyalty programs?
