Charles H. Miller
Chase has created an amazing offer for frequent travelers in the form of the Chase Sapphire Preferred® Card. Not only will every approved applicant get 50,000 points after spending $4,000 within the first three months, but the bank also made sure those points are worth something. In fact, at 1.25 cents per point, you get $625 just for signing-up for this card. That’s one hard-to-beat offer, we would say. Let’s delve into details…
Highlights
- Generous sign-up bonus of 50k points is worth $625
- 16.24%-23.24% variable APR
- 5% balance transfer fee (minimum $5)
- No foreign transaction fee
- No annual fee in the first year, afterwards it’s $95
How It Works?
Sign Up Bonus: You get 50,000 Chase Ultimate Rewards points after spending $4,000 within the first three months of opening an account, plus 5,000 miles if you add an authorized user within the first three months of account opening. These bonus points can be transferred to miles or points at a 1:1 rate with Chase’s partner airlines or hotel chains. Or you can book travel from Chase’s portal and get 1.25 cents per point for an equivalent of $625 in travel rewards! That could be a roundtrip to Europe.
Even more points: As you use the Chase Sapphire Preferred® Card, you will be earning 2x points on travel and restaurants, and 1 point per dollar on other purchases. And again, you can transfer these points at a 1:1 transfer rate with partners such as Southwest Airlines, British Airways, United Airlines, Hyatt, IHG, Marriott, Ritz-Carlton, and more. This in turn could allow you to stay at some luxury hotels without paying a single dime for the privilege. Or, you can simply redeem points for cash, travel, gift cards, and merchandise.
Annual fee: The first year is free, but afterwards you will be charged $95 per year. Considering all the points you will get, it’s worth it.
APR: With variable APR between 16.24% and 23.24%, based on your creditworthiness, you’re best off paying your balances in full and on time.
No foreign transaction fees: Together with included points and Trip Cancellation/Trip Interruption Insurance services make this card great amazing option for frequent travelers.
Additional perks: In addition to a number of travel benefits, this card also includes Purchase Protection, Extended Warranty Protection, Price Protection, and Return Protection that will make your shopping that much more convenient/safer.
Costs
- $0 annual fee in the first year, $95 after that
- 16.24%-23.24% Variable APR
- 5% Balance Transfer (minimum $5)
- $0 Foreign Transaction Fee
Pros
- Hard-to-beat sign-up bonus worth $625.
- Chase made sure their points are worth real money and can be used with a number of its airline and hotel partners.
- A number of benefits as well as the lack of foreign transaction fees make this card great for frequent travelers.
- The Chase Sapphire Preferred Card actually looks premium.
Cons
- We don’t like annual fees, even if they are waived in the first year.
- A rather high APR – you are best of paying your bills in full and on time.
Is This The Card For You?
If you travel often, the answer is resounding “YES.” Instead of building your points from the scratch, with Chase Sapphire Preferred Card you get 50,000 points to start with. These points can be used for booking a hotel/airline from the bank’s online portal or converted into points at partner airlines and hotel chains. Also, as you use the card, you will be gathering even more points and later be able to convert/use them at a number of properties throughout the world. If you’re into travel or if your job includes a lot of travelling, this is the card for you. Go for it!
