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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!
And 50,000 points is worth at least $625 in Big Travel!
I’ll explain why this is 1 of my favorite cards!
What’s the Chase Sapphire Preferred Card?
Link: Chase Sapphire Preferred
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.
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.
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
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!
4. Transfer to Airline, Hotel, and Rail Partners for Big Travel
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|
|Aer Lingus||British Airways||Flying Blue (Air France/KLM)|
|Iberia||Korean Air||Singapore Airlines|
|Southwest||United Airlines||Virgin Atlantic|
|Chase Ultimate Rewards Hotel Transfer Partners|
With the Chase Sapphire Preferred you can transfer points directly 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.
Or transfer your points to United Airlines for a 1-way flight to Lima, Peru, in Business Class.
So this is a terrific deal!
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.