Reasons why the Chase Sapphire credit card of choice should be your next credit card

Choosing a new credit card can seem overwhelming if you’re not sure what type of card you need. Perhaps you want to earn travel rewards but aren’t quite ready to commit to a specific program. Or maybe you want the ability to earn cash back on regular spending, but can’t decide how you’d like to use your rewards.

In this case, a card with decent total rewards and increased travel rewards, like the Chase Sapphire Preferred® Card, is a great option. This card’s flexible rewards options make it something of a unicorn in the card world, as it offers both travel benefits and rewards flexibility without sacrificing the chance to earn cash back.

Get up to $1,050 in Chase Travel℠ when you purchase the Chase Sapphire Preferred. Earn 60,000 bonus points after spending $4,000 in purchases within the first 3 months of account opening. If redeemed through Chase Travel, it will cost $750. Plus, get up to $300 in Chase Travel purchase credits in your first year.

6 Benefits of the Chase Sapphire Preferred

1. Increased rewards for travel through the Chase portal.

The first reason to consider the Chase Sapphire Preferred for your next card is that you can test out travel rewards without paying a hefty annual fee. This card allows you to book travel directly through the Chase portal using your points and get 25% more rewards value.

Chase’s travel portal is easy to use. All you have to do is search for airfare, hotel stays, car rentals and other travel experiences, then decide whether you want to pay with points, cash, or a combination of both.

2. Ability to transfer points to partners

The Chase Sapphire Preferred program also allows you to transfer your points to Chase airline and hotel partners on a 1:1 basis. Partner options include British Airways, Southwest Rapid Rewards, United MileagePlus, Marriott Bonvoy and World of Hyatt, and you can often earn huge rewards when you transfer points to partners before redeeming them.

Let’s say you wanted to book a hotel stay in Miami, Florida, and you had a supply of Chase Travel points to spend. You can always check the Chase portal for hotels first, but if you don’t see the deals you’re hoping for, consider transferring your points to one of the three hotel brands Chase partners with—IHG One Rewards, Marriott Bonvoy, or World Hyatt.

For example, I could book a room at the Hyatt Regency Miami for 15,000 points or $311 per night. If I had transferred 15,000 Chase points to your World of Hyatt account to make this reservation, I would have received over 2 cents per point in your rewards.

3. Excellent non-travel incentive payouts.

Another big benefit of the Chase Sapphire Preferred program is that you can redeem your rewards for non-travel options without sacrificing point value. Sapphire Preferred offers a standard redemption rate of one cent per point on a range of non-travel redemption options, including cash back or statement credits. This is not necessarily true for other rewards programs (including American Express Membership Rewards).

Meanwhile, most gift card redemptions offered through Chase have a uniform rate of one cent per point or higher, as Chase frequently runs gift card sales.

While discount gift card options through Chase are constantly changing, you can usually choose from at least 10 different gift card options for 10% off points. So a $25 gift card might cost you as little as 2,250 points, while some $10 gift cards start at 900 points.

4. High reward rates for everyday expenses.

In addition to serious flexibility in how you can redeem your rewards, the Chase Sapphire Preferred offers some of the most competitive earning rates considering how much many people spend.

First, if you earn the Chase Sapphire Preferred welcome bonus, you’ll start with a healthy points balance. This card also earns 5x points on travel booked through Chase Travel℠, 5x points on Lyft rides (through March 31, 2025), 3x points on dining, online grocery purchases (excludes Target, Walmart and Wholesale Clubs), and select streaming services. 2 points for other travel purchases and 1 point for everything else.

5. Basic protection measures during travel

If you’re looking for a credit card with built-in travel insurance benefits, the Chase Sapphire Preferred is one of the available options.

You get:

• Trip cancellation and interruption coverage up to $10,000 per eligible traveler and up to $20,000 per covered trip.
• Covers primary collision damage on a rental car for an amount equal to the actual cash value of the rental vehicle.
• Baggage delay coverage up to $100 per day for up to five days (six hours or longer delay required)
• Travel delay compensation up to $500 per ticket
• Tourist and emergency assistance services

Chase also offers several consumer purchase protections. These include extended warranties on products covered by the manufacturer’s warranty, as well as purchase protection against damage or theft up to $500 per claim and up to $50,000 per account.

6. Reasonable annual fee.

The Sapphire Preferred will cost you just $95 per year, while most other flexible rewards cards that pass on to airlines and hotels will cost you between $250 and $695 per year.

For many, it’s easy to justify such a low annual fee, especially if you receive a welcome bonus. If you’re used to using travel rewards and later decide you want premium perks like airport lounge access, you can always upgrade to a card with a higher annual fee. Its bigger brother, the Chase Sapphire Reserve®, offers more premium travel rewards and costs $550 per year.

How to Apply for the Chase Sapphire Preferred Program

You generally need good credit or better to qualify for the Sapphire Preferred—usually a FICO score of 670 or higher. Your chances of approval may increase if you have a higher score and higher income.

If you think you’re eligible, here’s how to apply:

• Step 1: Complete the online application. Go to the Chase website, search for Chase Sapphire Preferred and click “Apply Now.”
• Step 2: Share personal information. To apply for this card, you must provide your full name, address, mother’s maiden name, and date of birth.
• Step 3: Complete the application. Other information required during the process includes your Social Security Number (SSN), employment status, and household income.
• Step 4: Wait to see if your application is approved. Submit your application and wait for approval. Chase may approve your application in minutes, but they may also say they need more time to review your application. In this case, you will hear from them via email or regular mail within 30 days.

Bottom line

The Chase Sapphire Preferred is a versatile rewards credit card that complements many different spending habits. It has a reasonable annual fee, unlimited rewards options, great earning potential, and some built-in perks you can actually take advantage of. If you’re not ready to dive fully into the travel rewards ecosystem, the Sapphire Preferred is a good starting card with better perks and redemption options than many of its contemporaries.

Like all credit cards, you’ll only get the most out of this card if you pay off your balance in full each month. If you need to carry debt from one month to the next, consider a credit card with a low interest rate or a card that offers an introductory APR for a limited time.