Spectacular travel rewards program that can take you anywhere
When you want to book a trip using your travel points, it's nice to have options. This card is part of the Chase Ultimate Rewards program, a huge benefit and a reason this is one of the top travel cards. Through this program, you can transfer your points to over a dozen airline and hotel partners.
This gives you the flexibility to book all kinds of trips. Here are a few examples:
- Want to practice your Spanish (and eat a whole lot of tapas) in Spain? You could transfer your Chase points to Iberia to book your airfare.
- Looking to save on a costly hotel stay? If there's a Hyatt where you're going, transfer your Chase points there -- Hyatt hotels are a steal when you book with points.
- Hoping to visit Paris in the spring? Send those Chase points over to Air France and KLM's Flying Blue program, and you'll be able to book that ticket in miles instead of cash.
These are all ways I've used my own Chase points, and I've saved over $5,000 multiple times on flights and hotel stays. Not only does being able to transfer your points give you flexibility, you can get incredible value.
The Ultimate Rewards program gives you other options, too. Another popular choice is booking travel through Chase's portal and paying in points. You get $0.0125 per point, so 10,000 points are worth $125 this way. But to get the most from Chase points, transfers are the best option. Learn more about how to do that in The Ascent's guide to Chase Ultimate Rewards points.
Big bonus opportunities help you earn points more quickly
If you use this card regularly, you shouldn't have any trouble earning points. For starters, the welcome offer is 60,000 bonus points for spending $4,000 in the first 3 months.
That's one of the most valuable welcome offers, especially considering the low annual fee. It's competitive with what cards that cost $500 or more offer. You could easily use that many points to cover multiple flights or hotel stays.
You'll also be earning bonus points on everyday spending and travel purchases:
- Whether you go out to eat or place a delivery order, this card earns 3X points per $1 on dining.
- You earn the same rate of 3X points per $1 for online grocery orders and select streaming services.
- This card earns 2X points to 5X points per $1 on travel purchases, depending on the type of travel purchase.
Chase says that the Chase Sapphire Preferred® Card offers over $150 in partner value. It's technically true, although I wouldn't get your hopes up about saving that much. Here's a quick look at where all this value is coming from:
- Complimentary DoorDash DashPass subscription for a minimum of one year when you activate by Dec. 31, 2024 ($96/year value)
- Complimentary six-month Instacart+ membership when you activate by July 31, 2024 (auto-renews, $60 value)
- Quarterly $15 Instacart credit for Sapphire Preferred Instacart+ members through July 2024
- 5X points per $1 on Peloton equipment and accessory purchases over $150 through March 31, 2025 ($75 value when you purchase a Peloton bike and redeem for cash)
If you like getting food delivered, you'll probably enjoy having this card. The DoorDash and Instacart benefits are both easy to use, plus you'll earn bonus points on purchases with those delivery apps. And if you also happen to be buying a Peloton bike, even better.
Travel and purchase coverages in case anything goes wrong
There's nothing like renting a car and hearing that you personally could be on the hook for some absurd sum of money if anything happens to it. If you pay the full rental cost with your Chase Sapphire Preferred® Card, and decline the add-on the rental company wants to sell you, you won't need to worry about that.
Since this credit card has an auto rental damage collision waiver, it provides complimentary coverage. It's also primary coverage, meaning you wouldn't even need to file a claim with your own insurance first (many travel cards have secondary coverage that only kicks in after your own insurance is exhausted).
That's one of many complimentary protections. Others include:
- Trip cancellation/interruption insurance
- Baggage delay insurance
- Trip delay reimbursement
- Travel and emergency assistance services
- Purchase protection
- Extended warranty protection
$50 annual hotel savings that could be tricky to use
This card offers up to $50 in statement credits per account year toward hotel stays purchased through Chase Travel. You could look at it like a $50 annual discount on hotels -- but there's a catch.
Chase Travel doesn't always have the best prices. Sometimes it does, or it's equal to what the hotel charges. But sometimes it charges more. This is still a useful benefit, but booking hotels through Chase Travel can be hit or miss.