Traveling can be expensive, but with the right credit card, you can save money and earn rewards on your purchases. The Chase Sapphire Preferred Card is a popular choice for travelers, offering a range of benefits, discounts, and rewards that can help you travel for less. In this article, we’ll explore how the Chase Sapphire Preferred Card can help you save money on travel, including its benefits, rewards, sign-up bonus, annual fee, cash back, metal card, airlines, transaction fees, credit limit, credit score, reviews, FAQs, and conclusion.
Benefits of the Chase Sapphire Preferred Card
The Chase Sapphire Preferred Card offers a variety of benefits that can help you save money on travel. Some of these benefits include:
- Travel Insurance: With the Chase Sapphire Preferred Card, you can enjoy a range of travel insurance benefits, including trip cancellation/interruption insurance, baggage delay insurance, trip delay reimbursement, and auto rental collision damage waiver.
- Purchase Protection: The card also offers purchase protection, which covers your purchases against damage or theft for up to 120 days from the date of purchase.
- No Foreign Transaction Fees: When you use your Chase Sapphire Preferred Card abroad, you won’t be charged any foreign transaction fees, saving you money on every purchase you make.
- 24/7 Customer Service: The Chase Sapphire Preferred Card comes with 24/7 customer service, so you can get help with any issues or questions you may have.
- Concierge Service: The card also offers a concierge service that can help you with travel planning, restaurant reservations, and more.
- Visa Signature Benefits: As a Visa Signature card, the Chase Sapphire Preferred Card offers a range of benefits, including exclusive access to events, shopping discounts, and more.
Rewards Travel
One of the most attractive features of the Chase Sapphire Preferred Card is its rewards program. With this card, you can earn 2X points per $1 spent on travel and dining at restaurants worldwide and 1 point per $1 spent on all other purchases. These points can be redeemed for a variety of rewards, including cash back, travel, gift cards, and merchandise.
When you redeem your points for travel through the Chase Ultimate Rewards portal, you can get even more value. Points are worth 25% more when you redeem them for travel, meaning that 60,000 points are worth $750 in travel. This makes the Chase Sapphire Preferred Card a great choice for travelers who want to earn rewards that can be used for flights, hotels, and other travel expenses.
Sign-Up Bonus
The Chase Sapphire Preferred Card also offers a generous sign-up bonus. Currently, new cardholders can earn 100,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening. This bonus is worth $1,250 in travel when redeemed through the Chase Ultimate Rewards portal, making it one of the most lucrative sign-up bonuses available.
Sign up link here Chase Sapphire Preferred Card Signup
Annual Fee
While the Chase Sapphire Preferred Card offers many benefits and rewards, it does come with an annual fee of $95. However, many cardholders find that the benefits and rewards they receive from the card more than offset the annual fee.
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Cash Back
In addition to travel rewards, the Chase Sapphire Preferred Card also offers cash back. Cardholders can redeem their points for cash back at a rate of 1 cent per point. This can be a great way to get some extra money back in your pocket, especially if you don’t have any upcoming travel plans.
Metal Card
The Chase Sapphire Preferred Card is also known for its unique metal design. Many cardholders appreciate the look and feel of the card, which is made of durable metal rather than plastic.
Airlines
The Chase Sapphire Preferred Card is a popular choice for travelers because it allows them to earn rewards on airline purchases. Cardholders can earn 2X points per $1 spent on travel, which includes purchases made with airlines. This can help you earn rewards faster and save money on flights.
Transaction Fees
Another benefit of the Chase Sapphire Preferred Card is that it doesn’t charge foreign transaction fees. Many credit cards charge a fee of up to 3% on purchases made outside of the US, but with the Chase Sapphire Preferred Card, you won’t have to worry about these fees. This can save you a significant amount of money if you frequently travel internationally.
Credit Limit and Credit Score
Your credit limit on the Chase Sapphire Preferred Card will depend on your creditworthiness and other factors. If you have a high credit score and a history of responsible credit use, you may be eligible for a higher credit limit. Keep in mind that your credit limit will also affect your credit utilization ratio, which is an important factor in your credit score. It’s important to keep your credit utilization ratio below 30% to maintain a good credit score.
When it comes to applying for the Chase Sapphire Preferred Card, you’ll need to have a good to excellent credit score to be approved. While the exact credit score requirements can vary depending on the lender, most people with a credit score of 700 or higher should be eligible to apply for the card.
The Chase Sapphire Preferred Card has received generally positive reviews from cardholders and experts alike. Many people appreciate the card’s generous rewards program and valuable sign-up bonus, as well as its travel insurance benefits and lack of foreign transaction fees. Some people also like the card’s metal design and concierge service.
That being said, the card may not be the best fit for everyone. If you don’t travel frequently, you may not be able to take full advantage of the card’s rewards program. Additionally, if you’re looking for a card with a low annual fee, the Chase Sapphire Preferred Card may not be the best choice.
Additional Cardholder Benefits
The Chase Sapphire Preferred Card offers additional benefits for authorized users. You can add an authorized user to your account for free and they’ll receive their own card. The primary cardholder can earn points on the purchases made by the authorized user, which can help you earn rewards faster. Plus, authorized users also receive benefits like trip cancellation/interruption insurance, primary car rental insurance, and baggage delay insurance.
Rewards Redemption Options
Chase Ultimate Rewards points earned with the Chase Sapphire Preferred Card can be redeemed in a variety of ways. You can use your points to book travel through the Chase Ultimate Rewards portal, transfer your points to airline and hotel loyalty programs, or redeem your points for cash back or gift cards. The flexibility of the program allows you to choose the option that works best for you.
Customer Service
The Chase Sapphire Preferred Card offers excellent customer service to its cardholders. You can contact the Chase customer service team 24/7 to get assistance with any questions or issues you may have. Additionally, the card comes with a dedicated concierge service that can help you with travel-related tasks like booking flights, making restaurant reservations, and more.
Frequently Asked Questions ( FAQs )
Q1. Is the Chase Sapphire Preferred Card worth the annual fee?
A. The answer to this question will depend on your spending habits and travel preferences. If you frequently travel and dine out, the card’s rewards program and benefits can help you save money and earn valuable rewards. However, if you don’t travel frequently, you may not be able to take full advantage of the card’s benefits.
Q2. Can I transfer my Chase Ultimate Rewards points to other loyalty programs?
A. Yes, you can transfer your Chase Ultimate Rewards points to a number of airline and hotel loyalty programs, including United Airlines, Southwest Airlines, Marriott Bonvoy, and more.
Q3. Can I use my Chase Sapphire Preferred Card to withdraw cash?
A. Yes, you can use your Chase Sapphire Preferred Card to withdraw cash from ATMs. However, this is not recommended, as cash advances usually come with high fees and interest rates.
Q4. What credit score do I need to be approved for the Chase Sapphire Preferred Card?
A. The Chase Sapphire Preferred Card is designed for those with good to excellent credit, typically a credit score of 670 or higher. However, other factors such as income and credit history will also be taken into consideration when determining eligibility.
Q5. How do I qualify for the sign-up bonus?
A. To qualify for the sign-up bonus, you must spend $4,000 on purchases within the first 3 months of account opening. This spending requirement may seem high, but if you use the card for everyday expenses like groceries, gas, and dining out, you can easily meet the requirement and earn the bonus.
Q6. Does the Chase Sapphire Preferred Card offer any trip cancellation/interruption insurance?
A. Yes, the Chase Sapphire Preferred Card offers trip cancellation/interruption insurance. If you need to cancel or interrupt your trip due to a covered reason, you can be reimbursed for non-refundable expenses such as airfare, hotel reservations, and tours.
Q7. Can I use my Chase Ultimate Rewards points to book flights on any airline?
A. Yes, you can use your Chase Ultimate Rewards points to book flights on any airline through the Chase Ultimate Rewards portal. However, keep in mind that the value of your points may vary depending on the airline and the price of the ticket. In some cases, it may be more beneficial to transfer your points to an airline loyalty program instead.
Conclusion
Overall, the Chase Sapphire Preferred Card is a great choice for travelers who want to earn rewards on their purchases and save money on travel. With its generous rewards program, valuable benefits, and metal design, this card is a popular choice among frequent travelers. However, it’s important to consider your own spending habits and travel preferences to determine if the card is right for you. If you frequently travel and dine out, and you’re willing to pay an annual fee, the Chase Sapphire Preferred Card can be an excellent choice for earning rewards and saving money on travel.