6 reasons the Chase Sapphire Preferred should be your next card

The Chase Sapphire Preferred Card is widely regarded as one of the best travel credit cards available today. In fact, it has won TPG’s best travel rewards card award for six consecutive years at the TPG Awards. If you don’t already have this card, now is the perfect time to add it to your wallet because it is currently offering a sign-up bonus of 60,000 points, which is worth $1,230 according to TPG’s valuations. In this article, we will discuss the top six reasons why the Chase Sapphire Preferred should be your first or next rewards credit card.

The first reason to consider the Chase Sapphire Preferred is its great sign-up bonus value. Currently, the card offers a sign-up bonus of 60,000 Ultimate Rewards points after spending $4,000 on purchases in the first three months of account opening. When redeemed for travel at a fixed value of 1.25 cents each, these 60,000 points are worth $750 through the Chase Ultimate Rewards portal. However, TPG values these points at $1,230 or even more if you transfer them to one of Chase’s 11 airline and three hotel partners on a 1:1 basis.

The second reason to choose the Chase Sapphire Preferred is its terrific rewards rates. Since its launch in 2009, the card has offered bonus rewards on travel and dining purchases, covering a wide range of expenses such as Uber rides, parking fees, and food delivery services. The card also offers bonus benefits that allow cardholders to earn points on all travel-related purchases and everyday purchases beyond the welcome offer. Additionally, at your account anniversary, you can earn 10% of your total card spending in the form of points, further increasing your rewards.

The third reason to consider the Chase Sapphire Preferred is the ability to redeem your points for maximum value. While there are various redemption options available, such as Amazon purchases and gift cards, using your points for travel offers the best value. You can book travel directly through the Chase travel portal, where points are worth a flat 1.25 cents each. Alternatively, you can transfer your points to one of Chase’s airline and hotel partners, such as Southwest Rapid Rewards, United MileagePlus, and World of Hyatt, to potentially exceed TPG’s valuation of 2.05 cents per point.

The fourth reason to choose the Chase Sapphire Preferred is its unmatched travel benefits and protections. When you pay for your trip expenses with the card, you gain access to complimentary travel protections and benefits that can save you hundreds or even thousands of dollars. Some of these benefits include an annual $50 hotel statement credit, primary car rental insurance, no foreign transaction fees, trip delay reimbursement, trip cancellation/interruption insurance, and baggage delay insurance. These benefits provide peace of mind and added value when traveling.

The fifth reason to consider the Chase Sapphire Preferred is its lifestyle perks. The card offers several unique partnerships that go beyond the travel realm. For example, cardholders have complimentary access to at least one year of DoorDash DashPass, which provides lower service fees and free delivery on orders over $12. The card also offers bonus points on Lyft rides and Peloton equipment and accessory purchases. These partnerships offer additional value and rewards for cardholders.

The final reason to choose the Chase Sapphire Preferred is the possibility of not qualifying for the card later. The infamous Chase 5/24 rule states that if you have opened five or more new personal credit cards in the past 24 months, across all banks, it is unlikely that you will be approved for the Sapphire Preferred. Therefore, if you want to take advantage of the sign-up bonus and other perks of the card, it’s best to apply for it before moving on to other cards. Additionally, if you currently have the Chase Sapphire Reserve or have received a sign-up bonus from it in the last 48 months, you will not be eligible for the Sapphire Preferred’s sign-up bonus.

In conclusion, the Chase Sapphire Preferred Card offers a combination of value, rewards, and travel benefits that make it stand out among other credit cards. With a $95 annual fee, there are many ways to justify this cost, whether it’s the lucrative sign-up bonus, ongoing rewards, or complimentary trip protections. If you’re a frequent traveler or someone who values rewards and benefits, the Chase Sapphire Preferred should be your first or next rewards credit card.

Leave a Reply

Your email address will not be published. Required fields are marked *