Why the Chase Sapphire Preferred is my favorite card
Updated April 2024
The Chase Sapphire Preferred® Card (CSP) is one of my favorite credit cards because of its flexible points and multiple travel transfer partners. It’s the one card I have had in my wallet since 2015. I think this is a great beginner card because the minimum spend requirement is fairly easy to meet, it has a great sign-up bonus that translates to big travel with its transfer partners, and it has a low annual fee. Not only is this the first card you should get if you are an award travel newbie, but it’s also the card you should keep year after year because of the benefits that come with it.
We have been able to book some great (nearly) free travel over the years with our Chase Ultimate Rewards® Points including six free one-way flights to Europe, flying Business class to Tokyo, Europe and flying free on Southwest on numerous occasions. Our Chase points have also given us free hotel stays in Europe, Asia and almost all fifty states.
We transferred 45k Chase points to Hyatt to stay three nights FREE at the Hyatt Regency Paris Etoile (cash value: over $1500!)
Highlights of the card:
Earn 60,000 Ultimate Rewards points after making $4,000 in purchases in the first three months of account opening. These are transferable points that can transferred to multiple airlines and hotels. Annual Fee: $95.
What you can do with 60K Chase Ultimate Rewards points
Fly one way business class to Europe starting at 34k points each way
Book two roundtrip flights to Europe on Air France
Book two roundtrip domestic flights on Southwest/United
Stay three nights free at a Category 1-4 Hyatt Property
Stay two nights free at the Hyatt Regency Maui (books for over $725/n)
Stay four nights free at the Hyatt Regency Grand Cypress in Orlando (off-peak)
Why it’s a Keeper
Earns 3x points per dollar on dining, streaming services and online grocery purchases
Earns 2x points per dollar on travel related purchases (airfare, hotels, trains and taxis)
$50 annual statement credit on hotel stays purchased through the Chase travel portal
Primary Auto Rental car insurance (now you can decline insurance at the car rental counter)
Trip Cancellation/Trip Interruption Insurance
Extended Warranty Protection and Purchase Protection
No foreign transaction fees when traveling (this card always travels overseas with me)
How to use Chase Points
There are three ways to use Chase Ultimate Rewards Points:
You can book travel through the Chase Travel℠ Portal. While you can occasionally find a good deal in the portal. You’ll get much more value by transferring your points to a travel partner.
Chase Pay Yourself Back: Chase allows you to use your points to pay yourself back for purchases. Again, not the best use or value from your points
Transfer Chase points to travel partners. Chase has multiple airline and hotel transfer partners (like United, Southwest and Hyatt) and this is where you’re going to maximize the value of your points.
We transferred 54k Chase points to Hyatt to stay three nights FREE in Amsterdam
Chase Trifecta
One way I supercharge earning Chase points is by having what is referred to as the “Chase Trifecta”. That is, having the:
Chase Sapphire Preferred® Card - We use this to 2x points on travel and 3x points on streaming and groceries
Chase Freedom Flex℠ This card has no annual fee and earns 5x points on rotating categories every quarter. If you max this out every year, you’ll earn over 30k points.
Chase Freedom Unlimited® This card has no annual fee and earns 1.5x points on all purchases.
If you qualify for a business card, add the Ink Business Cash® Credit Card which has no annual fee.
Chase 5/24 Rule: If you read my Guide for Beginners, you are now familiar with Chase’s 5/24 Rule. Chase will only approve you for one of their credit cards if you have received less than 5 cards in 24 months. Start with Chase cards first so you don’t lock yourself out of great travel deals.
This card is great for beginners because it earns flexible points that can be used for airline or hotel bookings. The sign-up bonus alone is worth over $1200 when transferring to a travel partner.
New to credit cards and points travel? Next up:
Bank Application Rules - “Will I be approved?”
Travel Transfer Partners - “Who can I transfer my points to?”
Happy Travels!
For a few more ways you can use your Chase points, click here.
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Editorial Note: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
