Unravel The Mystery: Is The Chase Sapphire Preferred Worth It If You Don’t Travel?

The Chase Sapphire Preferred® Card is a popular travel rewards credit card that offers a host of benefits for frequent travelers. But what if you don’t travel often? Is the Chase Sapphire Preferred worth it if you don’t travel?

In this comprehensive guide, we’ll delve into the card’s features, earning potential, and redemption options to determine whether it’s a valuable choice for non-travelers.

Earning Rewards

Even if you don’t travel, the Chase Sapphire Preferred offers a decent way to earn rewards on everyday purchases.

• 2x points on dining: Dine out at restaurants and earn double points on every swipe.
• 2x points on online grocery purchases: Stock up on groceries online and earn extra points.
• 1 point per dollar on all other purchases: Every dollar spent on other purchases earns you a single point.

Redeeming Rewards

While the Sapphire Preferred‘s primary focus is on travel rewards, it offers flexible redemption options for non-travelers as well.

• Cash back: Redeem your points for cash back at a rate of 1 cent per point.
• Gift cards: Exchange your points for gift cards to popular retailers like Amazon, Target, and Starbucks.
• Merchandise: Use your points to purchase a variety of items from the Chase Ultimate Rewards® catalog.
• Pay Yourself Back: Redeem your points to offset eligible purchases made with your Sapphire Preferred card.

Annual Fee

The Chase Sapphire Preferred has an annual fee of $95. This fee can be a significant consideration for non-travelers who may not be able to fully utilize the card’s travel benefits. However, the card’s earning potential and redemption flexibility can potentially offset the cost.

Other Benefits

Beyond earning and redeeming rewards, the Chase Sapphire Preferred offers a few additional perks that may be valuable for non-travelers:

• No foreign transaction fees: Make purchases abroad without incurring additional charges.
• Purchase protection: Protect eligible purchases against theft, damage, or loss.
• Extended warranty: Extend the manufacturer’s warranty on eligible purchases by up to one year.

Is It Worth It?

Whether the Chase Sapphire Preferred is worth it for non-travelers depends on individual spending habits and financial goals. If you frequently dine out, grocery shop online, and make other everyday purchases, the card’s earning potential can outweigh the annual fee. Additionally, the card’s flexible redemption options allow you to convert your points into cash back, gift cards, or merchandise.

Alternatives for Non-Travelers

If you’re primarily interested in earning rewards on everyday purchases without the travel perks, consider these alternatives:

• Chase Freedom Unlimited®: Earn 1.5% cash back on all purchases.
• Discover it® Cash Back: Earn 5% cash back on rotating categories and 1% cash back on all other purchases.
• Capital One Quicksilver Cash Rewards Credit Card: Earn 1.5% cash back on all purchases.

Final Thoughts: Weighing the Options

The Chase Sapphire Preferred can be a valuable card for non-travelers who spend frequently on dining and groceries. However, the annual fee may not be justifiable if you don’t fully utilize the card’s travel benefits. Consider your spending habits and financial goals to determine if the card is right for you.

Questions You May Have

Q: Can I earn rewards on travel purchases with the Chase Sapphire Preferred if I don’t travel?
A: No, the card only earns bonus points on travel purchases made through Chase Ultimate Rewards®.

Q: What is the minimum number of points I need to redeem for a reward?
A: You need a minimum of 1,000 points to redeem for cash back or gift cards.

Q: Does the Chase Sapphire Preferred offer any sign-up bonuses?
A: Yes, the card currently offers a sign-up bonus of 60,000 points after spending $4,000 within the first three months of account opening.