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Chase Sapphire Preferred Review
The backbone of Chase’s entire Ultimate Reward centered credit card program started a decade ago, in 2009, with the Chase Sapphire and Chase Sapphire Preferred. It set out to target the top 15% of all households, and the rest is history.
The program’s expansion to an entire portfolio means options have increasingly gotten richer and more valuable for cardholders since its debut. Fascinated with history? The original bonus on the Sapphire was 10k after first purchase, and the Sapphire Preferred offered 15k bonus points after making $1k in 3 months. Times have changed.
The Chase Sapphire Preferred is now a staple in the credit card industry. Not only is it one of the best cards you can carry, but it’s currently offering the best public welcome offer ever: 60k Ultimate Rewards after $4k spend in 3 months.
I personally carry a Chase Sapphire Preferred, and highly recommend it for beginner’s and experts alike.
Is 60k points the best bonus we’ve ever seen publicly available?
What does publicly available mean? It means sometimes people will get targeted for better bonuses, but this is the biggest bonus we’ve ever seen for the Chase Sapphire Preferred that anyone can sign up to receive. I believe the best targeted was 70k, and there may have been a time when 60k + no fee first year was available, but for years the public offer was 50k.
What are the Chase Sapphire Preferred Benefits?
My entire Chase portfolio of cards started with this card, and even though I kept a Chase Sapphire Reserve for a little while, I opted to downgrade it back to a Chase Sapphire Preferred because it worked best for my situation.
- Points are transferrable to 13 Ultimate Rewards partners
- 2x points on dining and travel
- Redeem in the Chase Travel center for 1.25 cents per point
- No foreign transaction fees
- 60k points are worth $750 in the Chase Travel Center
- Suite of Travel and Purchase Coverage
I used Chase Ultimate Rewards earned from my Chase Sapphire Preferred to fly Singapore Suites with my family on my Mom’s Around the World surprise birthday trip!
What are the transfer partners of the Chase Sapphire Preferred?
Chase Ultimate Reward Transfer Partners
- British Airways
- Virgin Atlantic
- Jet Blue
- Aer Lingus
- Air France
- Ritz Carlton
What kind of credit score do you need for Chase Sapphire Preferred?
While nothing is published, it’s our opinion that you should be good to go as long as you’re over 720
What is the Annual fee of the Chase Sapphire Preferred?
The annual fee is $95 and is not waived for the first year.
How many points will I earn?
Currently, the Chase Sapphire Preferred is publicly offering an all time high of 60k points after you spend $4k in the first 3 months of account opening. But you’ll also continue to earn 2x points on travel and dining.
What are the sign up rules for the Chase Sapphire Preferred?
- Almost all of Chase’s cards are a part of their 5/24 rule. This means that you can not sign up if you have opened more than 5 credit cards in the last 24 months.
- Specific to the Chase Sapphire Preferred and Reserve, you can not receive a welcome bonus if you have received one on either the Chase Sapphire Preferred or Chase Sapphire Reserve.
Only one Chase Sapphire Premium product
- If you currently hold a Chase Sapphire Preferred or Reserve you cannot sign up for the card. Those who currently hold both can be grandfathered into holding both, but if you only have one, you’re restricted from another.
Should I get a Chase Sapphire Preferred or a Chase Sapphire Reserve?
Every situation is different and I’d recommend you read how we to decided to forego a Chase Sapphire Reserve for the Chase Sapphire Preferred. With that said, most people I know opt for the Chase Sapphire Reserve, its $300 annual travel credit, Priority Pass membership, and increased 1.5 cent per point valuation in the Chase Travel Center. Read that article which will help you crunch the numbers.
What is Chase Sapphire Preferred Customer Service like?
You’ll enjoy a premium level of customer service on the phone at 1-800-493-3319 and I’ve typically gotten a rep on the phone in under 30 seconds.
Earn more points with Chase Refer a Friend – up to 50k a year!
Referrals are an incredible way to add to your Ultimate Rewards balance. Currently Chase offers 10k points per approved referral, up to 50k a year.
How can I use my Chase Sapphire Preferred in tandem with other Chase products?
Chase allows you to transfer Ultimate Rewards between accounts. This is fantastic because Chase offers other credit cards that earn more points per dollar on certain categories, but often times those cards don’t earn Premium Ultimate Rewards. You can then transfer them into your Chase Sapphire Preferred account, and voila, they are converted into Premium Ultimate Rewards which can then be transferred into partner programs. You can easily move them between household accounts as well!
What are some of the best uses of 60k Chase Ultimate Rewards?
Every person is different, and you need to establish your travel goals to fully flesh out what makes the most sense for you. My travel goals are to see as many places as I can, travel in the best possible way, and stay in the most luxurious places on the planet. This means I’m looking to maximize the value of every single point, and I hardly ever redeem through Chase’s own travel center, and instead, transfer to partners.
Check out Virgin’s new Upper Class aboard the A350.
We transferred Ultimate Rewards over and flew it for 47.5k points and $600
You can fly Air France Business Class for 60k
I booked a roundtrip Business Class ticket on Iberia using just 68k points.
You can read our review here
Or transfer to Hyatt and stay in entry level to truly aspirational world class properties.
We used Hyatt points to stay in a wide array of properties, but none have been quite like the Alila Villas Uluwatu which we consider to be the best Hyatt in the world.
Analysis of the Chase Sapphire Preferred
If you’re just getting into unlocking the potential of points and miles, the Chase Sapphire Preferred is an outstanding place to start. It earns great points, has a relatively low annual fee, and you can start to build more Chase cards around it to optimize and utilize their Ultimate Rewards program to its fullest potential.
If you’re a seasoned pro when it comes to points and miles, and you qualify for this offer, you’ll be enjoying the highest public welcome offer we’ve ever seen. Great time to strike.
Monkey Miles has partnered with CardRatings for our coverage of credit card products. Monkey Miles and CardRatings may receive a commission from card issuers