At the beginning of every year, you need to set out your travel goals, and how you are going to use your travel Rewards credit cards to meet them and get the best value. Many travel aficionados have chosen the Chase Sapphire Preferred Card as their go-to card for overseas travel, and one of the best to help them hit their travel goals. So here are 8 reasons why the Chase Sapphire Preferred is the right card for You
High-Value Welcome Bonus
The Chase Sapphire Preferred Card comes with a generous welcome bonus of 50,000 Chase Ultimate Rewards points. To earn the welcome bonus, you will need to meet the minimum spending requirement of $,4000 in the first 3 months of card membership.
Great Earning Rates
The biggest expense when traveling are general travel expenses (airlines tickets, Hotels stays, and Car rental, etc.) and Dining out. All these will earn you an impressive 2X points per dollar when you use your Chase Sapphire Preferred to pay for them. Fortunately, Chase is even more generous in what it terms travel. As per the Chase, website chase classifies the following as travel.
“airlines, hotels, motels, timeshares, campgrounds, car rental agencies, cruise lines, travel agencies, discount travel sites, operators of passengers trains, buses, taxis, limos, ferrys, tolls, bridges, highways, and parking lots and garages.”
No Foreign Transaction Fees
One of the biggest bugbears faced by travelers overseas is hefty foreign transaction fees. Typically credit cards charge a 3% fee when making a purchase overseas. Although small this can soon add up if you are making a lot of purchases abroad (including hotel stays, travel, and eating out), or if you spend a large amount of time out of the country.
One thing to remember is that the no foreign transaction only extends to purchases. If you make a cash withdrawal abroad, you will be hit with a 5% charge or $10 whichever is greater.
Travel Insurance Coverage
Trip Interruption & Cancellation Protection: if your trip is canceled or interrupted, you will be covered for any non-refundable travel costs. This coverage kicks into place if your trip is interrupted or canceled for reasons, like weather or sickness
Trip Delay Protection: the Chase Sapphire Preferred covers you for up to $500 of expenses (accommodation, food, and essentials) if your trip is delayed by more than 12 hours or you need to make an overnight stay
Baggage delay and Lost Baggage Coverage: if your bags are delayed you are covered for $100 per day up to a maximum of $500. Cover kicks in after your bags are delayed for 6 hours or more. If unfortunately your bags never make it to your final destination you are covered up to $3,000 to replace your belongings
Primary Car Rental Insurance: when hiring a car, you can decline the often-overpriced additional insurance, and you will still be covered in case of damage, theft or loss.
Earn Points From Other Cards
One of the secrets to earning lots of Chase Ultimate Rewards is combining points from different cards into one account. You can convert cash back earned from the Chase Freedom Card and Chase Freedom Unlimited℠ into your Chase Sapphire Preferredaccount. This can be very rewarding when you consider that the Chase Freedom earns 5% back each quarter at bonus categories (up to $1,500 spend per quarter), while the Chase Freedom Unlimited℠ earns 1.5% back on everything. Cashback converts to Ultimate Rewards Points at a rate of 1 cent per point. So each dollar of cashback earned will yield 100 Chase Ultimate Rewards Points.
Refer Friends & Earn Even More Points
If you refer a friend and their application is successful, you will receive 10,000 Chase Ultimate Rewards points bonus. You can do this more than once, and holders of the Chase Sapphire Preferred can earn up to 50,000 Bonus Chase Ultimate Rewards Points per year.
Great Point Redemption Options
You have two great redemption options with Chase Ultimate Rewards. First holders of the Chase Sapphire Preferred can redeem their points through the Chase travel portal at a value of 1.25 cents apiece. Looking at the cards welcome bonus of 50,000 points, this works out as $625 of value with is a great return.
Alternatively, you can choose to transfer your Ultimate Rewards Points to a host of Chase’s travel partners. If you are savvy with your strategy, you can extract even more value for your points this way. Using this method of redemption, we value Chase Ultimate Rewards Points at 2 cents a Piece.
Attractive Annual Fee
If you have read all the benefits offered by the Chase Sapphire Preferred so far, you would rightly expect the card to come with a hefty annual fee. Surprisingly this is not the case; the Chase Sapphire Preferred comes with a very reasonable annual fee of $95, which makes it brilliant value.
When you factor in all the benefits and perks of the Chase Sapphire Preferred Card, it carries a list of features more commonly associated with premium travel cards. Yet the card comes with a very reasonable and mid-range annual fee. This makes the Chase Sapphire Preferred as a Package one of the most attractive cards on the market today, and out go to travel card for 2019.