Chase Sapphire Preferred® Review: The Ultimate Travel Rewards Card

Chase Sapphire Preferred Credit Score Requirement

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How Do You Qualify for the Chase Sapphire Preferred?

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To qualify for the Chase Sapphire Preferred, you'll generally need a good to excellent credit score, typically in the range of 670 or higher. Keep in mind that approval also depends on other factors like income and credit history. Applying through Kudos can streamline this process and potentially offer additional benefits.

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The Chase 5/24 Rule

Chase has an unofficial policy known as the 5/24 rule, which means if you've opened 5 or more credit cards (from any issuer) in the past 24 months, your application will likely be denied. Consider your recent credit history before applying for the Sapphire Preferred.

Redeeming Chase Sapphire Preferred Rewards

One of the standout features of the Chase Sapphire Preferred is the flexibility and value of its rewards program. Here are some of the best ways to redeem your hard-earned Chase Ultimate Rewards points:

1. Book travel through Chase Travel℠ at a 25% bonus (1.25 cents per point)
2. Transfer points to travel partners like United, Southwest, Hyatt, and Marriott for potentially even higher value
3. Cash back at a rate of 1 cent per point
4. Gift cards and merchandise (though usually not the best value)

How to Maximize Your Chase Sapphire Preferred Benefits

To get the most out of your Chase Sapphire Preferred, follow these tips:

1. Use your card for 3x on dining, select streaming services and online groceries, along with 1x on all other purchases
2. Take advantage of the DoorDash DashPass benefit for food delivery savings
3. When redeeming points, compare the value of different options like booking through Chase Travel℠ vs. transferring to partners
4. Combine points with other eligible Chase cards like the Chase Freedom Unlimited®. Chase Freedom Flex® or Ink Business Preferred® Credit Card for even more earning potential
5. Use your card's travel protections by charging flights, hotels, and other travel to your Sapphire Preferred

Card Comparisons

Chase Sapphire Preferred vs. Chase Sapphire Reserve®

The Chase Sapphire Reserve® is the premium sibling of the Chase Sapphire Preferred, with a higher annual fee of $550 but additional benefits like a $300 annual travel credit, 3X points on travel and dining, and access to Priority Pass airport lounges. The Preferred is a better fit for more cost-conscious travelers. Not sure which card to get? Kudos can help you navigate this process and find the best card offers through CardMatch.

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Chase Sapphire Preferred vs. Capital One Venture Rewards Credit Card

The Chase Sapphire Preferred and the Capital One Venture Rewards Credit Card are two popular travel rewards credit cards with similar annual fees of $95. Both cards offer a range of valuable travel benefits and perks for frequent travelers. The Capital One Venture Rewards Credit Card (see rates and fees) allows cardholders to earn 5X miles on hotel and rental car bookings made through Capital One Travel, and 2X miles on all other purchases. One standout benefit of this card is a credit of up to $100 for Global Entry or TSA PreCheck® application fees, available once every four years.

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Chase Sapphire Preferred vs. American Express® Gold Card

For those who spend a significant amount on food, whether at grocery stores or dining out, the American Express® Gold Card is a top contender among rewards credit cards. Although this card has a higher annual fee of $250 (see rates & fees), it offers a variety of valuable statement credits that can help offset the cost. With the Amex Gold Card, cardmembers can earn 4X Membership Rewards points on purchases at restaurants worldwide and U.S. supermarkets (on up to $25,000 per year, then 1X points afterward). Additionally, they can earn 3X points on flights booked directly with airlines or through amextravel.com, and 1X points on all other eligible purchases.

Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.

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Chase Sapphire Preferred vs. Bilt Mastercard®

The Chase Sapphire Preferred offers a wide range of bonus categories and a 25% redemption boost for travel booked through Chase Travel, making it a top choice for those with varied spending habits. The Bilt Mastercard, while offering a unique feature of earning rewards on rent payments without fees, has a more limited rewards structure (1x on rent payments - up to 100,000 points per calendar year - you have to use the card 5 times each statement period to earn points), 2x on travel, 3x on dining) and lacks some of the travel perks and protections offered by the Sapphire Preferred. But it also carries no annual fee, making it a top choice for folks looking for a card to rack up rewards from rent payments.

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Is the Chase Sapphire Preferred Widely Accepted for International Travel?

The Chase Sapphire Preferred is a Visa credit card, which means it is accepted at millions of locations worldwide. Visa has a much broader acceptance network compared to American Express and Discover, so you'll rarely encounter issues using your Chase Sapphire Preferred both in the U.S. and abroad. Plus, the card has no foreign transaction fees, making it an ideal card to swipe abroad.

Can You Get the Chase Sapphire Preferred If You Don't Live in the United States?

Currently, the Chase Sapphire Preferred is only available to residents of the United States, Puerto Rico, Guam, and the U.S. Virgin Islands. If you live outside these areas, you won't be able to apply for the card. However, if you're a U.S. citizen living abroad, you may still be eligible as long as you have a U.S. address and SSN. It's best to check with Chase directly for your specific situation.

Is the Chase Sapphire Preferred Worth It?

For frequent travelers, the Chase Sapphire Preferred is absolutely worth considering. Its generous rewards rates, valuable sign-up bonus, and comprehensive travel protections make it a top contender among travel rewards credit cards. Plus, the reasonable annual fee of $95 is easily justified if you take advantage of the card's benefits.

However, if you're a more occasional traveler or prefer simplicity, a no-annual-fee cash back credit card like the Chase Freedom Flex® might be a better fit. And if you're a true road warrior who wants the most premium perks, the Chase Sapphire Reserve or another high-end travel card like the Capital One Venture X Rewards Credit Card could be worth the higher annual fee (see rates & fees).

The Bottom Line

The Chase Sapphire Preferred offers exceptional value for frequent travelers looking to maximize rewards without paying a sky-high annual fee. With its generous sign-up bonus, flexible redemption options, and comprehensive travel benefits, it's a top pick in the travel rewards card category. As long as you take advantage of its perks and earn enough in rewards to offset the $95 annual fee, the Sapphire Preferred can be a valuable addition to your wallet.