It’s tough to find a credit card that offers as big an up-front cash bonus as the Chase Sapphire Preferred card. I’ve written about credit cards for a long time and have carried just about all of them. Sapphire Preferred is one of the elite offers.
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, cardholders 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, you always get 20% off airfare, hotels, car rentals and cruises when you redeem through Chase Ultimate Rewards. As a result, a $500 flight requires just 40,000 points.
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 will no longer pay the 7% dividend reward.
As if this card didn’t do enough already, all international purchases can be made without being charged a foreign transaction fee. Many credit cards charge up to 3% when used somewhere other than US soil (which includes international companies online) but this 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 is a must own credit card.
While the travel rewards are by far the most important feature, there are several other features of the 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 card offers several of them.
- Trip Cancellation Insurance: The card offers reimbursement for travel due to covered cancellations, losses and emergencies when you purchase tickets with the 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 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 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 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.
- NO ANNUAL FEE
You can get more details on this offer at CardRatings.com.