There is no doubt the Chase Sapphire Preferred Card is one of the best cards on the market. The card has a host of perks and benefits that offer great value. Whether you are just starting in travel rewards or an expert amassing a portfolio of Travel Rewards credit cards, there is room in every card wallet for the Chase Sapphire Preferred.
Lucrative Welcome Bonus
The Chase Sapphire Preferred Card comes with a lucrative welcome bonus of 50,000 Chase Ultimate Rewards points. We value Chase Ultimate Rewards at 2 cents apiece. So you can translate your welcome bonus to $1,000 in value. This is a fantastic return on a card that sets you back $95. Bear in mind the value of 2 cents a piece is if you maximize the value of your points. You can redeem your points directly with Chase or transfer them to various travel partners.
If you opt to use your points directly with Chase, you can get a value of 1.25 cents per point. This means your signup bonus will yield a total of $625 in value. Again while not as lucrative as $1,000 it still represents great value considering the overall package offered by the card.
Great Option For All Travel
The Chase Sapphire Preferred offers a very solid travel package, whether your journey is domestic or international. The Chase Sapphire Preferred offers some of the best travel insurance benefits associated with credit card membership when you use it to pay for your travel.
Car rental Collison Damage waiver cover: if you have a minor accident when renting a car the coverage provided with the x will cover you. Remember the card does not provide liability insurance so will not cover you if you are at fault, and you must pay for your car rental with the Chase Sapphire Preferred Card.
Lost/Delayed Luggage insurance: If you face a problem with your baggage when flying, you can be reimbursed for up to 5 days at a rate of $100 per day for clothing, and basics including makeup. The cover is in addition to anything you receive from the airline.
Trip Interruption and Trip Cancellation insurance: Trips do get delayed or canceled for many reasons beyond your control. If you have paid with your Chase Sapphire Preferred Card, Chase will pay you back for the extra expense you incurred, hotel stay, taxis, etc. additionally Chase will cover the cost of canceling your trip if you, your family members, or travel companions are taken ill, and you have to cancel the trip.
Foreign transaction fees are a bugbear for many travelers when using their card abroad. The Chase Sapphire Preferred has no such fees, so you will only be billed for what you spend. As a bonus, you will still earn Ultimate Rewards points for your spending overseas. This feature makes the Chase Sapphire Preferred Card the go-to card for any trips overseas.
Substantial Savings On Annual Fees
The Chase Sapphire Preferred Card comes with a modest $95 annual fee; this pales in significance when you compare it with more premium cards on the market that have big earning potential. Over the first couple of years of card membership, the Chase Sapphire Preferred Card will only set you back $95 in card membership fees since the fee is waived for the first year of card membership.
Contrast that with premium cards on the market the; the Chase Sapphire Reserve will set your Back $900 in the first couple of years. Or if you opt to go with American Express Membership Rewards, The Platinum Card® from American Express will set you back an eye-watering $1100, over the first couple of years of card membership.
Even though the Chase Sapphire Preferred does not have as high earning rate as the more premium cards, the reduced f fees more than makes up for it. This is especially true if you are a relative newcomer to the points and miles hobby and want to get familiar with earning and burning points, before committing to more premium credit card enrollment.
Free Authorized Users
Adding an authorized user to a travel Rewards earning card is always a great option. It earns you points for someone else’s spending, lets you share the card perks and benefits with family members and loved ones. Most cards charge you an annual fee to share the benefits of your card with authorized users; the Chase Sapphire Preferred does not. Adding authorized users to your Chase Sapphire Preferred Card is a no-brainer and will boost your travel rewards earnings.
Easier to Apply For
Applying for Chase Cards can be complex since several cards are subject to Chase’s 5/25 policy. While the Chase Sapphire Preferred is subject to the same policy, it is not a premium card like the Chase Sapphire Reserve Card, so ultimately applying for it will mean you have a higher chance of acceptance than applying for a premium card that would require to have a top-notch credit score. This is especially helpful if you are just starting in the Travel Rewards hobby and have not had sufficient time to build up your Credit Score.
If you are thinking of getting into the points and miles game, the Chase Sapphire Preferred is the best to start with. The cost benefits analysis means the card can almost always work for you. Also, it is a great card to use to get familiar with travel rewards, and how to maximize the value of your points with a minimum outlay.