I added the Chase Sapphire Preferred® Card to my wallet as my first travel rewards credit card almost five years ago. The card’s large welcome bonus lured me in, and I earn enough rewards each year to justify the card’s $95 annual fee.
Today, as a certified financial education instructor and regular contributor to U.S. News, I feel that its bevy of ongoing rewards has turned the Chase Sapphire Preferred® Card into my favorite credit card.
Why I Love My Chase Sapphire Preferred® Card
When I first got my Chase Sapphire Preferred® Card, I spent enough to earn a large welcome bonus, which I used to book a room at the Hilton Sandestin Beach Golf Resort and Spa in Florida. This location is my favorite beach town because it gives me access to gorgeous, bright turquoise blue water and bike trails.
Since then, I have enjoyed ongoing rewards, such as five points per dollar spent on travel I’ve purchased through Chase Travel? and the annual $50 hotel credit. Plus, I love earning three points per dollar spent on dining out and buying groceries online.
My favorite way to maximize travel rewards is to transfer points I earn from my Chase Freedom Unlimited® and Chase Freedom Flex® to the Sapphire Preferred Card. This strategy is known as the Chase Trifecta.
After that, I often transfer the points from the Sapphire card to the Hyatt loyalty program to unlock more value. I did this recently and was able to save almost $200 on an Atlanta hotel I booked for an investing conference.
[Read: Travel Credit Cards]
More Reasons to Love the Chase Sapphire Preferred® Card
Right now, new cardholders can earn 75,000 Ultimate Rewards Points after spending $5,000 within three months. Beyond the travel rewards mentioned above, the card comes with other perks, such as:
— No foreign transaction fees
— Five points per dollar spent on Lyft through Sept. 30, 2027
— Three points per dollar spent on certain online streaming services
— Two points per dollar spent on non-Chase-portal travel purchases
— One point per dollar on all other purchases
— 10% anniversary boost, which is bonus points equal to 10% of your total purchases made the previous year
— Primary auto rental coverage and other travel protections
— Extended warranty and purchase protections
Why You Might Want to Pass
The Chase Sapphire Preferred® Card is a perfect fit for my wallet, but it’s not right for everyone. If you don’t travel much, dine out often or use online streaming platforms, you’re likely better off choosing a no-annual-fee credit card.
On the flip side, you may get more value from using a higher-tier card, such as the Chase Sapphire Reserve®, if you’re an avid traveler who spends enough to justify the card’s $795 annual fee.
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I Write About Credit Cards Every Day. Here’s Why I Love My Chase Sapphire Preferred® Card originally appeared on usnews.com