Everything You Need to Know About the Chase Sapphire Preferred Card

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The last time I wrote a full review on the Chase Sapphire Preferred card was 4 years ago.  And since then things have changed!

It’s time for an update on all the benefits you’ll get with Chase Sapphire Preferred because this is still my favorite card for folks new to this hobby!

You’ll earn 50,000 Chase Ultimate Rewards points with Chase Sapphire Preferred card when you complete the minimum spending.

And 50,000 points is worth at least $625 in Big Travel!

Everything You Need To Know About The Chase Sapphire Preferred Card

50,000 Points Is Enough for 2 Nights at Grand Hyatt at Baha Mar in the Bahamas

I’ll explain why this is 1 of my favorite cards!

What’s the Chase Sapphire Preferred Card?

Link:  Chase Sapphire Preferred

With the Chase Sapphire Preferred card you’ll earn 50,000 points when you spend $4,000 on purchases within the 1st 3 months of opening your account.

You’ll also get:

  • 5,000 bonus points when you add an authorized user who makes a purchase within the 1st 3 months
  • 2 Chase Ultimate Rewards points per $1 you spend on travel and dining
  • Primary car rental insurance – Covers damage or theft to your rental car, when you pay for the rental with your card
  • Trip delay reimbursement – Get up to $500 back per ticket when your trip is delayed more than 12 hours
  • No foreign transaction fees

The $95 annual fee is waived the 1st year.

I like that 2X travel category is broadly defined as:

Airlines, hotels, motels, timeshares, campgrounds, car rental agencies, cruise lines, travel agencies, discount travel sites, and operators of passenger trains, buses, taxis, limousines, ferries, toll bridges, and highways, and parking lots and garages.

Another thing I like about this card is you talk to a human when you call.  So you skip the frustrating menus, which can save time.  And I’ve found their agents to be very helpful.

What Can You Do With 50,000 Chase Ultimate Rewards Points?

The Chase Sapphire Preferred card is an excellent card because there are many ways to use the points you earn.  So this card is a good choice for folks who want flexibility.

Here’s a look at how you can use your Chase Ultimate Rewards points.

1.   Cash Back

You can redeem Chase Ultimate Rewards points for cash back at a rate of 1 cent per point.

So 50,000 points are worth $500 in statement credits.  Or you can have the $500 deposited into your bank account.

Everything You Need To Know About The Chase Sapphire Preferred Card

You Can Use the 50,000 Point Sign-Up Bonus to Get $500 in Cash Back. But I’d Rather Use the Points for Big Travel Worth More!

It can take up to 3 days for the cash back to post to your account.

Some folks prefer cash back because you can use it any way you want.  However, you’ll get more value from other types of redemptions.

2.   Gift Cards

When you redeem your points for gift cards you’ll also get 1 cent per point.

Everything You Need To Know About The Chase Sapphire Preferred Card

You Could Redeem the 50,000 Points You’ll Earn With the Chase Sapphire Preferred Card for $500 in Gift Cards From Retailers of Your Choice. But I Don’t Recommend This!

I’d rather redeem the points for $500 in cash and buy the gift cards to earn more points!  

3.   Chase Ultimate Rewards Travel Portal

Link:   Save Points (and Money) Using the Chase Ultimate Rewards Travel Portal

Booking your flights through the Chase Ultimate Rewards travel portal is a better use of your points.  That’s because they’re worth 1.25 cents each when redeemed for travel.

So you’ll get $625 worth of travel with the 50,000 points you earn with the Chase Sapphire Preferred.

Plus, you don’t have to worry about blackout dates or finding award seats.  And you’ll still earn miles for your flight!

Everything You Need To Know About The Chase Sapphire Preferred Card

50,000 Chase Ultimate Rewards Points Is Good for $625 Worth of Flights Booked Through the Chase Ultimate Rewards Portal

You may even pay fewer points for short-haul domestic flights than you would booking an award ticket.

4.   Transfer to Airline, Hotel, and Rail Partners for Big Travel

Link:   How to Transfer Chase Ultimate Rewards Points

Transferring your Chase Ultimate Rewards points to hotel, airline, and rail partners can get you more Big Travel with Small Money!

Chase Ultimate Rewards points transfer at a 1:1 ratio to the following partners:

 Chase Ultimate Rewards Airline Transfer Partners 
British AirwaysFlying Blue (Air France/KLM)Korean Air
Singapore AirlinesSouthwestUnited Airlines
Virgin Atlantic
 Chase Ultimate Rewards Hotel Transfer Partners 

With the Chase Sapphire Preferred you can transfer points directly to travel partners.

Chase Adds New Transfer Partner More Options To Europe

Having the Chase Sapphire Preferred Lets You Transfer Points From Cards Like the Chase Ink Cash to Travel Partners

And you can get a much better value than 1 cent per point!

For example, you can transfer your points to Hyatt to get 2 free nights at Hyatt Ziva Puerto Vallarta.

Everything You Need To Know About The Chase Sapphire Preferred Card

50,000 Points Is Enough for 2 Nights at the All-Inclusive Hyatt Ziva in Puerto Vallarta. Otherwise You’d Pay ~$900 in Cash!

Or transfer your points to United Airlines for a 1-way flight to Lima, Peru, in Business Class.

Everything You Need To Know About The Chase Sapphire Preferred Card

A 1-Way Business Class Flight From the US to Peru Can Cost ~$1,200!

So this is a terrific deal!

Bottom Line

You’ll earn 50,000 Chase Ultimate Rewards points when you sign-up for the Chase Sapphire Preferred card and spend $4,000 on purchases within the 1st 3 months of opening your account.

This is a card I keep in my wallet.  That’s because you earn 2X points on travel and dining (2 categories in which I do a lot of spending).  And the Chase Ultimate Rewards points you earn do NOT expire and can be transferred to airline & hotel partners or used for cash back.

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Editorial Disclaimer: Neither the responses below nor the editorial content on this page are provided or commissioned by the bank advertisers, and have not been reviewed, approved or otherwise endorsed by the bank advertisers. Opinions expressed here are the author’s alone, not those of the bank advertisers. It is not the bank advertisers’ responsibility to ensure all posts and/or questions are answered.

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10 responses to “Everything You Need to Know About the Chase Sapphire Preferred Card

  1. We have kids that play travel ball. We transferred these points to our hyatt account and used them for a tournament we will be attending out of state. So while not a fancy hotel stay, 40,000 (still have 5,000 left) got us the equivalent of an $1800 + hotel stay! Never would have known this without your blog so thank you!

  2. Quick note: for those who have private banking with Chase, there are extra benefits if you apply for the card at the branch: 50K points instead of 40k at sign up and few extra perks in earning points.

  3. Do you have a post about how to transfer points directly to airline or hotel and then actually showing us how to redeem the points for travel or stay? I have heard that you need to go through a different website (airline or hotels) to actually apply the said transferred points in order to travel.

    Thanks and I hope to hear from you.

  4. I also enjoy purchasing airline through the portal with my Sapphire. It gets you 3x points. The price is usually the same as all other websites and sometimes its even cheaper.

  5. I have to book a flight to Aruba for February using Jetblue. Would I be able to apply the points ($500) towards my purchase? I tried to enter the Chase Travel Portal but I couldn’t figure it out.

  6. Just applied using your link. Got a pending – so going to call Chase to follow up. Fingers crossed!

  7. I had the Sapphire Preferred a few years ago when I first got into travel hacking. Do you know if I’ll be eligible for the bonus or is it a one and done situation?

  8. Does it specify if the $4,000 in spending for the first 3 months needs to be the account holder can it be both the account holder and the authorized buyer?

  9. How soon can you get signup bonus for the second time?

  10. Can I transfer my British Airways avios to my Chase Sapphire Preferred card instead of the other way around? Also, IF I can transfer the BA avios to CSP card then will they have the same expiration date as the BA site (3 years) or will they have the CSP no expiration benefit?