The Chase Sapphire Preferred is one of the most standout credit cards when it comes to travel benefits.
With a range of discounts and perks, this product from Chase Bank stands out in their catalog—especially for high-level clients.
It also performs well in terms of rewards, even though there are some application requirements. It’s worth learning more about it before making a decision and choosing the ideal credit card. So, here’s what you should know about this card!
About the Chase Sapphire Preferred Card
The Chase Sapphire Preferred is one of Chase Bank’s top-tier options when it comes to premium travel benefits. That’s because it offers a variety of rewards through the bank’s loyalty program.
This way, customers not only have access to a superior credit card, but also to a helpful tool for planning vacations, with access to hotels, flights, and travel points.
The Chase Sapphire Preferred requires a Good to Excellent credit score, which means applicants typically need a score above 670 to qualify. It also has a $95 annual fee, with a regular APR ranging from 19.99% to 28.24%.
What Are the Benefits of This Card?
One of the biggest highlights of the Chase Sapphire Preferred is its Welcome Bonus—60,000 points credited straight to your account. Plus, cardholders can transfer all their rewards to Chase’s travel partners, including names like World of Hyatt, Southwest Rapid Rewards, and more.
With this card, you also get a $50 annual hotel credit through Chase Travel and can earn cashback if you spend over $5,000 within the first three months. The welcome bonus can be redeemed for $600 in Ultimate Rewards points or $750 in travel through Chase Travel.
Additionally, cardholders receive a 10% anniversary bonus based on the total spending from the previous year. So, if you spent $25,000, you’ll receive 2,500 points in your account.
Point Multipliers
Another major perk of the Chase Sapphire Preferred is its point multipliers in specific categories. These include:
- 5x points on travel booked through Chase Travel
- 5x points on all Lyft rides
- 3x points on dining purchases
- 3x points on select streaming services
- 5x points on Peloton purchases over $150
Thanks to these multipliers, cardholders can easily offset the annual fee just through points redemptions. Plus, Chase’s travel and loyalty program adds a 25% boost to point values when redeemed through their travel portal—meaning each point is worth 1.25 cents.
How to Get the Chase Sapphire Preferred
Keep in mind, the Chase Sapphire Preferred is a premium credit card and does come with certain restrictions. For example, you can’t apply for it if you currently have another Chase Sapphire card, or if you’ve received a Sapphire welcome bonus in the last 48 months.
Also, you need at least a Good credit score to apply, which narrows down eligibility a bit. On the bright side, you can complete the entire application process online or via the mobile app and wait for your credit review.
Is the Chase Sapphire Preferred Worth It?
If you love to travel, are looking for a generous welcome bonus, and want a premium credit card, the Chase Sapphire Preferred could be the right fit. In addition to its wide range of rewards and point multipliers, it stands out for its welcome gift, which can be redeemed as cashback or through Chase’s travel program.
This card is ideal for racking up points, booking hotels, or enjoying travel perks with partner brands and services. Backed by a reputable bank with its own product lines, it offers broad options for purchases and rewards.
While it does require a strong credit profile, the Chase Sapphire Preferred may be the perfect upgrade if you’re looking to level up your credit game and already have a solid score.
All information in this and other BOISLA articles is subject to change over time. Please check for updates directly with the institutions and companies mentioned. Approval is subject to the institution’s review.
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