Chase Sapphire Preferred® Card

The Chase Sapphire Preferred® Card has long been a darling of the travel rewards world, and for good reason. It strikes an impressive balance between valuable perks and a reasonable annual fee, making it a top contender for both travel enthusiasts and everyday spenders.

Rewards Structure

• 5x points on travel purchased through Chase Travel℠
• 3x points on:
  • Dining (including eligible delivery services and takeout)
  • Select streaming services
  • Online grocery purchases (excluding Target, Walmart, and wholesale clubs)
• 1x points on all other purchases

This tiered structure is one of the card's strongest suits. It's thoughtfully designed to reward common spending categories, and the 5x on travel through Chase's portal is particularly generous. However, excluding popular retailers like Target and Walmart from the online grocery category is disappointing, as it limits the card's everyday utility for some users.

Point Redemption

• Chase Travel℠ portal: 1.25 cents per point for travel
• 1:1 transfer to airline and hotel partners

The flexibility here is truly impressive. The 1.25 cents per point through the Chase portal is solid, but the real magic happens with point transfers. In my experience, this feature can unlock tremendous value for savvy cardholders willing to put in some effort. It's not the most straightforward system, but it's hard to beat for those who enjoy maximizing their rewards.

Travel Benefits

• Trip cancellation/interruption insurance
• Auto rental collision damage waiver
• Baggage delay insurance
• Trip delay reimbursement
• No foreign transaction fees

The travel protections are robust for a card in this price range. While they may not match ultra-premium cards, they provide substantial peace of mind for frequent travelers. The absence of foreign transaction fees is particularly welcome, making this an excellent companion for international adventures.

Additional Perks

• $50 annual hotel credit for bookings through Chase Travel℠
• Purchase protection
• Extended warranty protection

The $50 hotel credit is an excellent addition, though its restriction to Chase's travel portal is somewhat limiting. While not flashy, the purchase and warranty protections can be invaluable when needed.

Annual Fee

The card does come with an annual fee, which might give some potential applicants pause. However, even moderate travelers should be able to recoup this cost through the card's benefits and rewards. It's a classic case of "you get what you pay for," in which case you get quite a lot.

Who Should Get This Card?

The Chase Sapphire Preferred is an excellent choice for:

1. Frequent travelers who want solid rewards without a premium price tag
2. Dining enthusiasts who can maximize the 3x category
3. Points and miles aficionados who appreciate transfer flexibility
4. Those new to travel rewards who want a well-rounded card to start with

However, it might not be the best fit for:

1. Infrequent travelers who won't utilize the travel perks
2. Those who prefer cash back to travel rewards
3. Big spenders who might extract more value from a premium card with higher earning rates

Conclusion

The Chase Sapphire Preferred Card remains one of the most well-rounded travel rewards cards on the market. It offers a compelling mix of earning potential, redemption flexibility, and travel benefits that outshine many competitors. While it may not be the absolute best in any category, its strength lies in its versatility and overall value proposition.

For those willing to try to learn its ins and outs, the Sapphire Preferred can be incredibly rewarding. It's a toolbox of travel perks and point-earning potential that, when used skillfully, can significantly enhance your travel experiences without breaking the bank