Chase Sapphire Preferred Card

Review of: Chase Sapphire Preferred® Card
Chase Sapphire Preferred® Card

Reviewed by:
On May 16, 2011
Last modified:May 3, 2015


The sign-up bonus and travel rewards make this one of the best travel rewards credit cards you'll find anywhere.

It’s impossible to find a credit card that offers as big an up-front cash bonus as the Chase Sapphire Preferred® Card. For a limited time, new cardholders will earn 40,000 bonus points when spending at least $4,000 within the first three months.  Those points can be turned in for a $400 statement credit OR a plane ticket worth up to $500.  If you choose to book a flight valued at more than $500, you can simply pay the difference.

In addition to the 40,000 bonus point offer, the Chase Sapphire Preferred® Card will earn 2 points on all travel and dining purchases as well as double rewards on all travel reservations booked through Ultimate Rewards. The Chase Ultimate Rewards is an easy way to redeem points online for just about anything, including travel. So when you book your travel through Ultimate Rewards, Chase will double the points it pays you. In addition, points redeemed through Ultimate Rewards are worth 25% more. That is the reason you can obtain a flight worth up to $500 with 40,000 bonus points; every 10,000 points are actually worth $125 in travel, or $100 in cash.

Chase Sapphire Preferred® Card cardholders will even earn bonus points on their points.  An annual 7% dividend is provided to all members, so using the same 10,000 point scenario, a bonus of 700 points would be added at the end of the year.  Perhaps the coolest feature of this card is the 24/7 dedicated service you can receive with a live agent.  Cardmembers are provided a telephone number that connects directly to a live agent, so no more spending 10 minutes pressing buttons just to talk with someone.  The Chase Sapphire Preferred® Card does come with a $95 annual fee, waived during the first year.

NOTE: 2015 is the last year for the 7% dividend. After 12/31/2015, Chase Sapphire will no longer pay the 7% dividend reward.

Here’s a summary of the rewards and benefits of the card:

  • Earn 40,000 bonus points when you spend $4,000 on purchases in the first 3 months from account opening. That's $500 in travel when you redeem through Chase Ultimate Rewards®
  • 2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases
  • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
  • No foreign transaction fees, plus chip-enabled for enhanced security and wider acceptance
  • 1:1 point transfer to leading frequent travel programs at full value — that means 1,000 Chase Ultimate Rewards points equal 1,000 partner miles/points
  • Premium Travel and Purchase Protection Benefits, including Trip Cancellation/Trip Interruption Insurance, Auto Rental Collision Damage Waiver, Purchase Protection and more
  • 24/7 direct access to dedicated customer service specialists
  • Introductory Annual Fee of $0 the first year, then $95

As if this card didn’t do enough already, all international purchases can be made without being charged a foreign transaction fee.  Most credit cards charge up to 3% when used somewhere other than US soil (which includes international companies online) but the Chase Sapphire Preferred® Card is foreign transaction fee free.

Spending $4,000 on a credit card in only three months may be difficult for some.  If you’re considering taking a vacation or making a large purchase in the near future and have the excellent credit required to obtain this credit card, the Chase Sapphire Preferred® Card is a must own credit card.  $400 cash back is too good to pass up.

Other Features

While the travel rewards are by far the most important feature for us, there are several other features of the Chase Sapphire® Card worth noting.  Earning points is just half the battle. Once you’ve earned your free travel, you want a credit card to take on your trip that offers enhanced travel benefits. As a Visa Signature card, the Chase Sapphire® Card offers several of them.

  • Trip Cancellation Insurance: The Chase Sapphire® Card offers reimbursement for travel due to covered cancellations, losses and emergencies when you purchase tickets with the Chase Sapphire® Card.
  • Auto Rental Collision Damage Waiver: Receive coverage for covered damage due to collision or theft up to the actual cash value of most rental vehicles. Remember to charge your entire rental transaction to your Chase Sapphire® Card and decline the rental company’s collision damage waiver.
  • Travel Accident Insurance: Receive coverage for covered common carrier accidental death or dismemberment when you charge your travel fare on your Chase Sapphire® Card.
  • Trip Delay: When a covered trip is delayed more than 12 hours due to a covered event, expenses incurred as a result of the delay, such as meals and lodging, are reimbursed.
  • Lost Luggage Reimbursement: Carry-on or checked luggage may be covered if lost or stolen when you purchase your common carrier ticket with your Chase Sapphire® Card.
  • Baggage Delay: If your checked bags are delayed for a period of 18 hours or more by a common carrier, you will be reimbursed for the emergency purchase of covered essential items.
  • Travel and Emergency Services: Get help coordinating medical, legal and travel services while you’re away from home.
  • Roadside Dispatch: Referral service for convenient towing and locksmith services in the U.S. and Canada are available 24/7.
  • Dedicated Customer Service: Every call you place to Chase will always be answered by a live customer service representative.  No exceptions.

You can get more details and apply for the card at the Chase Sapphire official website.

Published or Updated: May 3, 2015
About Rob Berger

Rob founded the Dough Roller in 2007. A litigation attorney in the securities industry, he lives in Northern Virginia with his wife, their two teenagers, and the family mascot, a shih tzu named Sophie.


  1. Jeff Ghere says:

    should advise people to cancel within 1 year or there is a $85 membership fee

  2. Sounds like a pretty sweet card! The only thing is, you have to spend $3,000 in the first three months?! I suppose if you have a car repair coming up, that would be pretty easy to do, but I suspect that most people do not spend that much money on “side things” in 3 months. Ot, at least, they shouldn’t.

    This card promotes additional spending, and while it may seem that you’re making money in rewards, you’re most likely spending more than you did before you got the card.

  3. Jan Schwartz says:

    I would like to know if the Sapphire preferred card has the same benefits as the sapphire VIP card or does it have more? Also would like to know if I pay for a trip with the preferred card, does that cover cancellation ins. so I do not have to take the ins. with the cruise liner? Please let me know, because I would like to get one of your cards and don’t know which yet. Jan

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