Chase Sapphire Preferred® Credit Card

Chase Sapphire Preferred® Credit Card

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8.9/10 (Expert Score)
Product is rated as #9 in category Credit Cards
PROS:
  • 1.4% Purchase Yield
  • $750 in first year incentives
  • Ability to transfer points to more than 10 travel and hotel reward programs
  • Double points on travel and dining purchases
  • No foreign transaction fees
CONS:
  • $95 annual fee
  • Purchase Yield is not best in class
  • Est. Annual Value in years 2+ is more than $100 below that of benchmark cash-back cards (assuming $15,000 in annual purchases and a 1.5% benchmark yield)

Last Updated on December 23, 2020

A solid choice with an impressive $865 first year value (assuming $15,000 in annual purchases) but some other cards provide a better overall purchase yield and overall ongoing annual value (subsequent year value lowers to $115 which is $110 below some of our benchmark 1.5% unlimited cash-back, no-annual-fee benchmark cards). While this card provides double points on travel and dining related purchases, the yield on these extra points is not enough, assuming average spending patterns, to offset the $95 annual fee.

One of the strong benefits though of the Chase Sapphire Preferred® Credit Card is the ability to transfer points to more than 10 airline and hotel reward programs. Such an ability can be attractive, especially when airline and hotel programs offer unusually low redemption offers. However, this type of point transfer strategy requires a meaningful investment of time and effort and generally doesn’t benefit the average traveler.

Earn double points on dining, including eligible delivery services, takeout and dining out and travel.  1 point per dollar spent on all other purchases.

No foreign transaction feess

CARD DETAILS

Issuer & Payment Network

Issuer

Payment Network

Network Benefit Level

Estimated Purchase Yield

Estimated Purchase Yield

1.40%

Notes

Assumes points are redemed for travel (25% redemption bonus) and assumes average spending distribution (double rate applied to travel and dining out)

Bonus Offers

Bonus Offer Value

$750.00

Bonus Offer

60,000 bonus points (requires $4,000 in new purchases within first 3 months)

Ongoing Bonuses

None

Estimated Annual Card Value

Yr 1 @ $5k in Purchases

$725

Yr 1 @ $15k in Purchases

$865

Yr 1 @ $30k in Purchases

$1,075

Yr 2+ @ $5k in Purchases

-$25

Yr 2+ @ $15k in Purchases

$115

Yr 2+ @ $30k in Purchases

$325

Valuation Notes

Bonus Offer Value plus Ongoing Bonus Value (if any) plus value of rewards at stated annual purchasing level less the annual fee

Airport Lounge Access

Lounge Access?

No

Lounge Network

Not Applicable

Guests

Not Applicable

Access Restrictions

Not Applicable

Reward Points

Do Points Expire?

No (as long as the account remains open)

Redemption Options

Travel (booked via rewards site), Merchandise, Gift Cards and Statement Credits

Can Points Be Transferred?

Yes - Aer Lingus, AerClub, British Airways Executive Club, Emirates Skywards®, Flying Blue Air France KLM, Iberia Plus, JetBlue TrueBlue, Singapore Airlines KrisFlyer, Southwest Airlines Rapid Rewards®, United MineagePlus®, Virgin Atlantic Flying Club, IHG® Rewards Club, Marriott Bonvoy™, World of Hyatt®

Fees & APRs

Annual Fee

$95

Foreign Transaction Fees

None

Late Payment Fee

$39

APR - Intro (Purchases)

No Current Standard Intro Offers

APR - Intro (Balance Transfers)

No Current Standard Intro Offers

APR - Cash Advance

24.99% + $10 or 5% (whichever is greater)

APR - Regular (Purchases)

15.99% to 22.99%

APR - Regular (Balance Transfers)

15.99% - 22.99% + $5 or 5% (whichever is greater)

Grace Period

21 Days

Protections & Services

Zero Liability Protection

Yes

Purchase Protection

Yes: Covers your new purchases for 120 days against damage or theft up to $500 per claim and $50,000 per account.

Extended Warranty Protection

Yes: Extends the time period of the U.S. manufacturer's warranty by an additional year, on eligible warranties of three years or less.

Trip Cancellation / Interruption

Cancellation/Interruption: If your trip is canceled or cut short by sickness, severe weather and other covered situations, you can be reimbursed up to $10,000 per person and $20,000 per trip for your pre-paid, non-refundable travel expenses, including passenger fares, tours, and hotels. Baggage Delay: Reimburses you for essential purchases like toiletries and clothing for baggage delays over 6 hours by passenger carrier up to $100 a day for 5 days. Trip Delay: If your common carrier travel is delayed more than 12 hours or requires an overnight stay, you and your family are covered for unreimbursed expenses, such as meals and lodging, up to $500 per ticket.

Auto Rental Collision Damage Waiver

Yes: Primary. Decline the rental company's collision insurance and charge the entire rental cost to your card. Coverage is primary and provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most rental cars in the U.S. and abroad.

Other Items

Recommended Credit Level

Very Good+ (FICO Score: 740-850)

Link to Issuer Website

https://creditcards.chase.com/rewards-credit-cards/sapphire/preferred

Date Information Confirmed

December 22, 2020

Chase Sapphire Preferred® Credit Card
Chase Sapphire Preferred® Credit Card
PointsAdventure.com
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