Why I Love The Chase Sapphire Preferred Card

This text was initially revealed in August 2023. Card particulars could have been modified; see Bankrate’s evaluate for present provides.

I’m a flight hacker and frequent traveler, and I’m at all times looking out for good bank card offers. Final yr, I set my sights on a round-trip flight to Istanbul, so I began on the lookout for a card that will cowl most of the price of my journey.

It didn’t take me lengthy to understand that the cardboard I used to be on the lookout for was the Chase Sapphire Most popular Card, particularly given its spectacular welcome bonus on the time.

Greater than a yr later, not solely did that welcome bonus pay for my journey, however the card’s reward charges have made it my go-to for nearly all of my every day bills. Add in its distinctive 10 % anniversary bonus and an annual $50 lodge credit score (by means of the Chase Journey℠ portal), and it’s straightforward to see why it rapidly grew to become one in all my favourite rewards bank cards. Listed here are among the causes I like this card:

It provides an incredible welcome bonus

After I utilized, the Chase Sapphire Most popular was providing 100,000 bonus factors after spending $4,000 within the first three months from after I signed up. The supply is now 60,000 bonus factors after spending $4,000 within the first three months, however that’s nonetheless an incredible deal.

I had thought-about getting the Chase Sapphire Reserve® as an alternative, however the $550 annual charge was too excessive for me — plus, I acquired a a lot better welcome bonus with the Sapphire Most popular than I’d have with the Sapphire Reserve. Bankrate values the present supply of 60,000 Final Rewards factors at $750 (when used to e book journey by means of the Chase Journey℠ portal), and as much as $1,200 should you take full benefit of Chase’s switch companions. The present baseline providing of 60,000 bonus factors, value greater than seven occasions the $95 annual charge should you redeem by means of Chase Journey℠, can be a superb deal.

To get the welcome bonus, I wanted to spend a minimal of $4,000 inside the first three months. In my case, I often spend round $800 on meals and groceries each month, so I put all of these bills on the cardboard. This was a good selection since I earn 3X factors on eating (together with eligible takeout and supply) and on-line grocery purchases (excluding Goal, Walmart and wholesale golf equipment). The cardboard additionally earns:

• 5X factors on journey bought by means of Chase Journey℠
• 3X factors on choose streaming providers
• 2X factors on different common journey purchases
• 1X factors on all the pieces else

It has perks like no overseas transaction charges

I stay a global life, splitting my time between Canada, the U.S. and Istanbul. I regularly journey to Asia, too. I discover myself utilizing my bank cards overseas on a regular basis. That’s why I at all times journey with a card that doesn’t cost overseas transaction charges, and the Sapphire Most popular suits the invoice. The opposite advantages of the Sapphire Most popular — corresponding to journey, buy protections and companion advantages with DoorDash and Lyft — make it extra helpful and extra enjoyable.

I can switch factors to loyalty applications simply

One of many issues I like most concerning the Sapphire Most popular is that it allows me to switch my factors to different loyalty applications, like Chase’s companion airways and lodge chains, at a 1:1 charge. This permits me to get rather more worth out of my factors.

After I redeem my factors by means of the Chase Final Rewards program with the Sapphire Most popular card, probably the most I can get is 1.25 cents apiece, which is fairly good (holders of the Sapphire Reserve card can get 1.5 cents per level).

Nevertheless, if I switch them to a companion airline’s loyalty program, I’ll typically get rather more. For instance, I can switch my factors to United Airways’ MileagePlus and use them to redeem award flights straight by means of the MileagePlus program. After I do, I typically get a worth of two or extra cents per level — in step with Bankrate estimates that Chase Final Rewards factors are value round 2 cents apiece on common when used with the fitting switch companion.

In my case, I booked a spherical journey from Houston to Istanbul in enterprise class. The most cost effective money flight I might discover value $2,300, however I solely spent 69,000 miles (transformed from 69,000 Final Rewards factors), plus $81.65 in taxes and charges. This implies my factors have been value over 3 cents every, making my 100,000-point welcome bonus value over $3,000. I stay for the sort of deal.

It provides an annual 10 % bonus

With this profit, I get 10 % of my complete spend again in factors every account anniversary. If I spend $10,000 on my card all year long, I’ll get 1,000 bonus factors. That’s an extra 10 % bonus I wouldn’t earn with another card — and yet another perk that helps the Chase Sapphire Most popular pay for itself.

The underside line

The welcome bonus alone makes the Sapphire Most popular effectively definitely worth the annual charge. I amassed greater than 20,000 factors final yr from my on a regular basis spending, plus some additional factors I earned on a number of massive purchases.

Whereas the Chase Sapphire Most popular doesn’t supply premium journey advantages like airport lounge entry, the cash I save utilizing the cardboard simply offsets these small prices. As I anticipate my annual 10 % factors bonus and put together to spend the remainder of the factors I have already got, I can’t assist however really feel that this is among the smartest monetary strikes I’ve made in a while.