The Pros and Cons of the Chase Sapphire Preferred Card

The Pro’s

When it comes to travel rewards credit cards, the Chase Sapphire Preferred Card is hard to beat. Some of its best features include: 

• A generous sign-up bonus. New cardholders can earn 60,000 points after spending $4,000 in the first 3 months. That’s worth $750 when redeemed for travel through Chase or $600 in cash back. 

• Bonus earnings on travel and dining purchases. You’ll earn 2 points per dollar spent on travel and dining purchases, which is double the standard 1 point per dollar earned on other purchases. 

• A 25% boost when redeeming for travel through Chase. When you redeem your points for travel through Chase’s Ultimate Rewards portal, you’ll get a 25% point bonus. That means those 60,000 points are actually worth $750 instead of $600 in cash back. 

• A $50 hotel credit. When you book your stay at select hotels through chaseultimaterewards.com, you’ll receive a $50 hotel credit to use towards incidentals like room service or laundry. 

• Combine points from multiple cards. If you have other Chase Ultimate Rewards-earning credit cards like the Ink Business Cash Credit Card or the Freedom Unlimited Credit Card, you can combine your points into one account and redeem them for travel at a higher value.

The Cons

While there are many great things about the Chase Sapphire Preferred Card, there are also a few drawbacks to keep in mind: 

• The annual fee is $95. Many rewards credit cards come with an annual fee but waive it for the first year. With the Chase Sapphire Preferred Card, you have to pay that $95 annual fee every year starting from year two onward. 

• There’s a foreign transaction fee of 3%. If you’re planning on using this card while traveling abroad, keep in mind that you’ll be charged a foreign transaction fee of 3% of each purchase made in a foreign currency. 

• You may be better off with another card if you don’t travel often . While this is technically a rewards card, it only really makes sense if you’re someone who travels often and takes advantage of all the perks that come with it – like earning bonus points on travel and dining purchases or redeeming your points for travel at a higher value . If you don’t think you’ll use those features often , another cash back card with no annual fee might be a better option for you . 

Overall

All in all , the Chase Sapphire Preferred Card is a great option for anyone who frequently travels and dines out . If that sounds like you , then this card is definitely worth considering – just be sure to factor in that annual fee . And if you don’t think you’ll use all of its features often enough to make up for that annual fee , then another cash back card might be a better fit .