Credit Cards

Is the Chase Sapphire Preferred® Card Worth It?!

This article is going to cover why the Chase Sapphire Preferred® card is worth it, what benefits come with it, and some of the best redemptions! So let’s dive in!

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Is the Chase Sapphire Preferred Worth It? Really?

If you’re just starting earning points and miles and looking for the best card to get started, look no further than the Chase Sapphire Preferred®. This card comes jam-packed with great benefits that make it well worth its low annual fee of $95. 

For starters, the bonus categories to earn extra points are awesome! Just check these out!

  • 5x points on all travel purchased through the Chase Ultimate Rewards travel portal
  • 3x points on dining, including most delivery services, takeout, and dining out
  • 3x points on select streaming services (including Apple Music, Netflix, Disney+, Hulu, YouTube, and MORE!)
  • 3x points on online grocery purchases (for wholesale clubs like Costco use Instacart so it still qualifies. You can read our post on getting the most points at Costco and Walmart here!)
  • 2x points on ALL other travel purchases (rental cars, taxis, hotels booked through a third party or direct, airfare etc…)
  • 1x points on everything else

Redeeming Your Points

You can also use your points to redeem travel in Chase Ultimate Rewards travel portal or you can transfer them to lucrative partners like Hyatt, United Airlines, and Southwest Airlines.

ways to earn southwest rapid reward points written by kamree price family travel expert
One of my favorite ways to use my Chase Ultimate Rewards is to transfer them to lucrative transfer partners!

Additional Benefits of the Chase Sapphire Preferred!

The card also offers an annual $50.00 travel credit when you book through Chase’s website or app – perfect for bonus trips! Plus, you enjoy added convenience in the form of trip cancellation/interruption insurance and baggage delay insurance. 

In other words, you’re covered if your flight is delayed or canceled and your bags don’t arrive when they should.

Chase Sapphire Preferred Versus Other Cards

In comparison to other reward travel cards available, the Chase Sapphire Preferred® packs a giant punch and stands out in its affordability and value.

For example, many other cards require an annual fee that can be double or triple what you’d pay for the Chase Sapphire Preferred®. Additionally, bonus points may not be as generous, or redemption options not be as flexible. All in all, if you’re looking for an entry-level reward travel card with great value for money – look no further than the Chase Sapphire Preferred®!

Why start with the Chase Sapphire Preferred and NOT another travel reward card? 

Do as I say here and not as I do. When I first started earning points and miles, I didn’t have the insight, practice, and knowledge that I do now. My first card was NOT the Chase Sapphire Preferred® and it kind of messed me up for a little bit. One of the major reasons why the Chase Sapphire Preferred® is so important to have in your beginning strategy is because of Chase’s 5/24 rule. 

Even though I am a HUGE American Express fan (I LOVE the Amex Membership Rewards Program!) to make the most of a strategy that encompasses different cards and programs, it is best practice to START with Chase Ultimate Rewards and then add on from there. Because this card is by far the most affordable and best option in terms of personal reward travel credit cards – it is easily the best choice to start with! 

How do I apply for the Chase Sapphire Preferred card?!

Hit the Apply Now button below and you’ll be directed through the steps! If you have any questions about your application check out this amazing article on the Chase Sapphire Preferred® and application process here – Chase Sapphire Preferred Application Guide

Common Questions About The Chase Sapphire Preferred Card!

Is it hard to get the Chase Sapphire Preferred Card?

On average, you’ll need to have a credit score of at least 700 to qualify for the Chase Sapphire Preferred. 

Why is the Chase Sapphire Preferred so popular?

The lower annual fee, high earning potential, bonus categories, valuable transfer partners, and various travel benefits like insurance and baggage protection make it one of the best reward travel cards on the market. 

How much income do you need for the Chase Sapphire Preferred? 

Having a clean 2 years of credit history and an annual income of at least $30,000 a year is important when applying!

Is it worth it to have the Chase Sapphire Preferred and an Amex card?

In my opinion – absolutely! These cards work well together and complement areas where the other card lacks. I love to combine my strategies so I can make the most of my points and miles! However, I do suggest starting with the Chase Sapphire Preferred first to help get you on the right foot!

What is the Chase 5/24 Rule?

If you have opened five or more personal credit cards in the last 24 months, you will most likely NOT be approved for a Chase credit card.

Does Chase Sapphire Preferred have lounge access?

It does not, for lounge access you’ll want the Chase Sapphire Reserve. However, with the much higher annual fee, most families stick to the Chase Sapphire Preferred instead.

Is Chase Sapphire Preferred good for beginners?

It is HANDS down the best card for beginners due to the lower annual fee, easy transfer patterns, ease of use within the travel portal, and benefits associated.

What are some of the best ways to redeem and use Chase Sapphire Preferred points?

Luxury Hyatt Stays

Without a doubt, my favorite way to use my Chase points is for luxury Hyatt stays. Just in one year, we have booked stays at the Andaz Peninsula Papagayo in Costa Rica, the Andaz Tokyo, AND the Hyatt Regency Paris FOR FREE. Yes for free, just by using points we have transferred from our Chase Ultimate Rewards account to our Hyatt account. 

Within the Chase Ultimate Rewards Portal

However, using Chase points within the Chase Ultimate Rewards Portal is also great (you’ll receive access after you apply and are accepted) and is incredibly simple. With the Chase Sapphire Preferred, you’ll receive an additional 25% bonus when booking through the portal. So this means each point redeemed through the portal is worth 1.25 cents. 

Transferring to Chase Transfer Partners!

Chase has amazing airline transfer partners like Southwest, United, and international airlines like Virgin Atlantic, AirFrance, KLM, and more so you can book those dream flights abroad for nearly free as well! 

hyatt stays on points

use chase sapphire preferred points for hyatt stays
We’ve booked over $21,000 in hotel stays at properties like this Hyatt Andaz Peninsula Papagayo for the next year for ZERO DOLLARS (when you use points on Hyatt, you don’t have to pay taxes and fees) using our Chase Ultimate Reward points. (Photos courtesy of Hyatt.com)

So… Is the Chase Sapphire Preferred Card worth it?

Absolutely! If you are only going to have one or two reward travel credit cards, this needs to be one of them! If you want to build a strategy that has you getting more cards and more points, then this ALSO needs to be one of them! With a low annual fee, amazing downgrade options, and the ability to transfer and book at a higher rate within the travel portal the Chase Sapphire Preferred® card is A MUST!

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