Being a points and miles enthusiast means I have a drawer of credit cards. Choosing which cards to carry in my wallet can be a daunting task at times. However, one card will always have a slot in my wallet: the Chase Sapphire Preferred® Card.
The Sapphire Preferred was crowned the Best Travel Rewards Credit Card at the 2023 TPG Awards for the sixth year in a row. So, it's no wonder TPG staffers rank this as one of their favorite credit cards.
For a limited time, the Sapphire Preferred is offering a welcome offer of 75,000 bonus Ultimate Rewards points after you spend $4,000 on purchases in the first three months from account opening. This offer is worth $1,538 based on TPG's valuations.
Here's why the Sapphire Preferred will always stay in my wallet.
Solid earning rates
The most enticing feature of the Sapphire Preferred for me is its high earnings rates in a multitude of categories:
- 5 points per dollar on hotels and car rentals booked through Chase Travel℠
- 5 points per dollar on eligible Lyft rides (until March 2025)
- 3 points per dollar on worldwide dining
- 2 points per dollar on travel
Dining is the biggest spending category on my cards. The American Express® Gold Card is my go-to card for dining at restaurant purchases because of its 4 points per dollar earning rate. However, as an international foodie, I often find myself at many hole-in-the-wall restaurants that don't accept Amex. That is where my Sapphire Preferred comes in handy with its 3 points per dollar earning rate on dining. The Sapphire Preferred is on the Visa network, so I never worry about acceptance.
Furthermore, I love the 2 points per dollar spent on travel. Chase defines travel very broadly, and the most common travel purchases I make — such as ride-hailing, parking and public transit — code as travel.
Lyft is my ride-hailing app of choice. I take, on average, at least 10 Lyfts per month, so earning 5 points per dollar spent on rides with no cap helps me rack up Chase Ultimate Rewards points.
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Related: The best cards for international travel
Flexible points
Another major reason to carry the Sapphire Preferred is the ability to earn Ultimate Rewards points. Cardholders can redeem these points through the Chase travel portal at 1.25 cents per point or transfer them to one of Chase's 14 hotel and airline partners. Personally, I don't redeem through the portal since the points' value is significantly better when I use transfer partners.
Last summer, I redeemed 12,000 Ultimate Rewards points by transferring them to World of Hyatt for a three-night stay at Hotel Story Riddargatan in Stockholm over a busy peak summer weekend.
Related: How much are Chase Ultimate Rewards points worth?
Valuable statement credits
The Sapphire Preferred comes with a handy annual $50 hotel credit when you book through the Chase travel portal.
I don't generally recommend booking a hotel through an online travel agency like Chase Travel since booking directly with the hotel is usually best. However, I recommend it when you are abroad in cities where the hotels are not part of any major loyalty program.
Last year, I was able to use the hotel credit for one night at a small boutique hotel in Andorra. This year, I used the credit for one night at the Canzi Cataratas Hotel near Brazil's Iguazu Falls. Neither of these hotels was attached to a loyalty program, so I had no problem booking through the portal. These hotels were a little more than $50 a night, so the annual credit effectively netted me a free night each time.
Related: 6 reasons why you should book directly with an airline or hotel
Stackable Chase Offers
Chase sends targeted offers to cardholders, meaning these offers vary depending on the cardholder. I often see offers such as extra points or cash back at retailers and restaurants I frequent. These targeted offers on the Sapphire Preferred are also stackable with the card's bonus earnings and with shopping portals.
Related: Earn bonus miles with these airline portal promotions
Useful benefits
The Sapphire Preferred includes many benefits that I use frequently. These include a six-month complimentary Instacart+ and DoorDash DashPass membership-activate by Dec 31.2024;(both valued at $9.99 a month).
Instacart+ has been very useful to me on those lazy Sundays when I don't want to leave the house. I can get my groceries delivered to me from popular grocery stores and supermarkets with no delivery fee.
The DashPass membership is also very valuable to me as I order food at least once a month, and DashPass waives the delivery fee.
Lastly, this card has no foreign transaction fees, which is essential for me as a frequent international traveler.
Related: Instacart+ members now get a free Peaco*ck subscription
Low annual fee
Many cards with similar benefits and earnings rates have high annual fees. This makes the Sapphire Preferred stand out with its annual fee of just $95. The benefits, statement credits and ability to earn Ultimate Rewards points provide enough value to easily outweigh this annual fee.
Bottom line
The Sapphire Preferred is a credit card that will always have a place in my wallet. With its excellent earning rates and no foreign transaction fee, it's the perfect travel companion for an avid international traveler like myself.
Most importantly, the Sapphire Preferred earns a flexible rewards currency in the form of Chase Ultimate Rewards points, which allows me to leverage transfer partners to maximize my redemption value.
To learn more, read our full review of the Chase Sapphire Preferred.
Apply here: Chase Sapphire Preferred Card with 75,000 Chase Ultimate Rewards points after you spend $4,000 on purchases in the first three months from account opening.
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
