16 Things I Love About the Chase Sapphire Preferred Card

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Chase just announced the biggest-ever public offer for the Chase Sapphire Preferred® Card: 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.

The previous offer of 60,000 points was the best public offer ever for the card. They’ve increased it by one third – 20,000 more points – and haven’t even increased the spending requirement. This is huge for the $95 annual fee card.

For many years this was the single best card for earning valuable rewards points, in a class by itself. It currently has the biggest public offer there’s ever been for the card, and in my view the best offer for any rewards card right now. They’ve never opened up a 80,000 point offer to anyone who wished to apply for the Chase Sapphire Preferred Card before this offer.

Chase will generally only approve new customers for this card that have gotten fewer than 5 new cards in the past 2 years (so getting a Chase Sapphire Preferred Card before you apply for other cards makes the most sense). In addition to be eligible for a bonus on this card you cannot be a current Sapphire cardholder or have received a Sapphire card bonus in the last 48 months.

Here are my 16 favorite things about Sapphire Preferred.

  1. Initial Bonus

    80,000 points are worth a minimum of $1000, but I value Chase points at around 1.8 cents apiece because of all of the transfer opportunities. That’s $1440 in value just for spending $4000 on the card within the first 3 months of opening the account. Put another way, that’s effectively a 36% rebate on the spend which is almost unheard of.

  2. Double Points on All Travel and Dining

    That’s what most of my spend is, especially reimbursable spend — not just air and not just hotels, but both and cars and taxis and tolls, plus meals on the road.

    To be sure the Sapphire Reserve earns 3 points per dollar on travel and dining, but I’m asked frequently by people that have the Reserve whether they should keep that currently $550 annual fee card after the first year, and it’s a much tougher card to get approved for in readers’ experience.

  3. Ultimate Rewards Mall

    Additional points for your online shopping through access to the Chase Ultimate Rewards mall, a mileage-earning shopping portal that often has the most lucrative opportunities to earn extra points for the online purchases you’d make anyway.

  4. Points transfer to Singapore Airlines — one of the best airlines in the world, with great premium cabin availability, stopovers for a fee even on one-way awards, and very low fees

    It’s very rare indeed that you can ever use miles from Star Alliance partner programs like United MileagePlus, Aeroplan, or LifeMiles for long haul premium cabin travel on Singapore. But Singapore offers members using their own miles fantastic award availability on most of their routes. In the past Suites Class has even been regularly available between Europe and Singapore as well as Australia.

  5. Points transfer to United Airlines MileagePlus which is great because it’s one of the few airlines in the world that does not add fuel surcharges onto any awards and because that gives you access to availability across the Star Alliance and with easy online bookings.

  6. Points transfer to Air France which offers great business class award availability and discounts on awards up to 50%.

    In my experience they make far more award space available on Air France and KLM flights to their own members than they do to partners. I find really good space between the US and Europe, even on West Coast routes.

    Flying Blue offers promo awards discounting certain markets 20% – 50% that let you book travel between that city and anywhere Air France or KLM flies in Europe (depending on the gateway that is on sale).

  7. Points transfer to Hyatt which gives you access to high-end hotel redemptions, reasonably-priced suite awards, and room upgrades with points.

    Hyatt lets you redeem ~ 60% more points than a standard room for a suite on a free night. And Hyatt lets you spend 6000 points per night on a qualifying paid rate stay to upgrade to a suite — at booking. And that 6000 point price is the same regardless of the price level of a hotel. For additional points you can even book a premium suite.

    You do have to pay the standard or Hyatt daily rate to use points to upgrade a paid reservation to a suite, and at a resort you have to book at least a deluxe room to be eligible to use points for upgrades. And free nights in suites require a minimum 3 night stay.


    Park Hyatt Aviara

  8. Points transfers with most airline and hotel partners are instant.

    This is great because you don’t risk awards disappearing this way. And you don’t need to transfer points to an airline or hotel program until you need them, since transfers happen quickly. (Singapore Airlines transfers in my experience take 12-24 hours but have taken as long as 36 – which is ok since Singapore has let me put awards on hold, then I’ll transfer the points).

  9. Use Points For Statement Credits

    The new Pay Yourself Back tool lets you redeem points at 1.25 cents apiece in value against eligible card charges (currently, grocery, dining, and home improvement).

  10. Food delivery Benefit

    Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DoorDash’s DashPass (activate by December 31, 2021).

  11. Limited Time Benefits

    Earn triple points on Instacart, plus $50 in statement credits towards yearly or monthly Instacart Express membership; triple points on gas; and 5 points per dollar on some streaming services.

  12. Purchase Protection

    If you buy something and the merchant won’t take it back and it’s within 120 days of your purchase, they can pay you back instead up to $500.

    When I dropped my Android phone on the sidewalk two months after I bought it, I smashed the glass screen — and I wound up with a check for $314.99.

    chase sapphire preferred benefits

    If a manufacturer’s warranty lasts a year, they’ll cover a second year. If it lasts two years, they’ll cover a third year. So if your stuff breaks don’t just throw it away, call Chase and get the ball rolling on their provider sending you a check.

  13. Baggage Delay Coverage

    If your checked bags are delayed more than 6 hours they’ll reimburse you for things like toileteries and clothing you need to buy, up to $100 a day for 5 days (or until your bags are delivered, if less).

    And if your checked or carry-on bags are damaged or lost permanently, they extend coverage up to $3,000 per passenger.

  14. Primary Rental Collision Coverage

    If you rent a car with this card you don’t just earn double points (for travel) but get extra protection. Most premium cards offer secondary collision coverage, they pay what your insurance doesn’t (which usually means they cover your deductible). With Sapphire Preferred’s primary coverage, rental a qualifying vehicle and charge it to the card and your insurance company may not even need to know…

  15. Trip Delay Coverage

    Buy airline tickets with the card and if you’re delayed 12 hours or overnight you can get reimbursed for hotel costs and meals.

    You must be on a round trip ticket (trip not to exceed a year) and have charged at least a portion of your ticket to the card.

    The $500 benefit applies to each spouse or dependent (under age 22) that’s delayed whose ticket you charged to the card.

    Since you only have to charge a portion of a ticket to the card, coverage applies even to award travel thus it’s best to pay award ticket taxes with a Sapphire Preferred Card (and not just for the double points on airfare).

  16. The Card Has a Great Look and Feel

    This isn’t a reason to get a card but it’s a sleek card, heavier than what you’re used to and without any raised numbers (and in fact, no numbers on the front of the card).

    AndyAndy decided downgrade his Chase Sapphire Preferred card to a regular Sapphire card with no fee (no longer available). He tried to dispose of the card himself. With a blow torch.

    chase sapphire preferred card benefits

    chase sapphire preferred card

I applied for this card back in 2011. And it’s still a great role-player, especially as a ‘Chase hub’ where you earn points at accelerated rates with Chase’s no annual fee cards and then transfer them to the Chase Sapphire Preferred Card so that those points can then be moved to airline miles and hotel points.

About Gary Leff

Gary Leff is one of the foremost experts in the field of miles, points, and frequent business travel - a topic he has covered since 2002. Co-founder of frequent flyer community InsideFlyer.com, emcee of the Freddie Awards, and named one of the "World's Top Travel Experts" by Conde' Nast Traveler (2010-Present) Gary has been a guest on most major news media, profiled in several top print publications, and published broadly on the topic of consumer loyalty. More About Gary »

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Editorial note: any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Comments made in response to this post are not provided or commissioned nor have they been reviewed, approved, or otherwise endorsed by any bank. It is not the responsibility of advertisers Citibank, Chase, American Express, Barclays, Capital One or any other advertiser to ensure that questions are answered, either. Terms and limitations apply to all offers.

Comments

  1. Gary,

    You’re a numbers guy.

    I’m sure you’ve got metrics on number of referrals you’ve received and referral payout and referrals over time.

    I’m certain that your referral income has taken a hit. But I have no idea how much.

    I’d guess referrals have taken a nose dive since mid March.

    I’d guess some cards — and their associated referrals — have fared better than others.

    I’d be curious if referral payouts have shrunk/changed.

    I’m pretty sure you collect the various referral payouts in return for signing on to a gag order. So even though you couldn’t mention which cards, you could do a de-identified aggregate (“X% of the cards I receive payouts from have changed their referral terms”).

  2. How would this compare to BoA Premium Rewards card if you get the top tier points multiplier effect? I assume that card is better to pat down statement (since points multiply faster on totally spend and it pays back 1:1 v 1: 1.25, right?) but on mileage transfer Chase card hands down because the other card does not convert to miles, right? I’m sure it’s not that clear cut, but curious, as I consider both very strong cards.

  3. @Rx-UA Plat – Brian Sumers at Skift wrote a pretty in-depth piece on credit card referral income pretty much drying up https://skift.com/2020/08/03/travel-blogs-rode-credit-card-referrals-wave-what-comes-next/ and I wrote a pretty detailed piece explaining that this blog wouldn’t be generating much revenue for awhile (because there’s also not a lot of ad spending in the travel sector either!) but I’d still keep doing what I do, as I did for years before there was any money associated with the site at all. I was blogging for over 5 years before there was a single ad check from it ($750 in a month).

  4. What I like about the CSP is a much shorter list:
    1. You can use the CSP as a hub for points earned on the CF, CFF, and CFU.
    2. You can transfer the points to United Airlines.
    3. It provides primary car rental insurance.
    4. It has better signup bonuses than the CSR.

    All the rest is meaningless to me. If you live in a United hub, the United Explorer is a better card. If you travel even a moderately amount, the CSR beats both, and the higher CSR fee is quickly recovered through better earnings rates.

  5. Gary,

    I’ve had the CSR since late 2016 and have gotten tremendous value out of it, but it definitely hasn’t been worth the annual fee this year and I doubt it will be next year. I’m thinking of canceling before the annual fee hits my account and then getting the CSP once I am eligible for the bonus (even if it goes back to 50k or 60k bonus in a few months, it would still be worth it). When it comes time to travel again, I would attempt to product change to a CSR again. I do have a few concerns/questions that I *think* I know the answer to, but I’d love to hear your thoughts on these before I put this plan into action:

    – I have a big stash of chase points tied to my CSR account. Will my points be safe as long as I transfer them to my freedom/freedom unlimited account before canceling the CSR?
    – Any way you know of to figure out exactly when a previous chase bonus was awarded, so I don’t run afoul of the 48 month cool off period? I have a vague idea and will be able to be conservative to ensure I get the bonus, but all the better if I can sign up earlier. As far as I can tell, the biggest “risk” to my plan is having to keep a big balance of points in a freedom/unlimited account where they can’t be transferred or redeemed at a bonus, so if I can reduce the length of time I’m in that situation, I’d be better off.

    Thanks for any and all thoughts and keep up the good work on the blog!

  6. @AK you can look at old card statements or ask Chase when your bonus hit, and your points are safe transferred into another chase account like freedom – but if you are not later approved for a new card whose points transfer to miles they will be ‘stuck’ in the lower value freedom account.

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