How to get the most out of your Chase Sapphire Preferred® Card
March 28, 2019
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The Chase Sapphire Preferred® Card is a popular rewards credit card for travelers. Allowing you to earn 2X points per $1 spent on travel and dining, it’s a great card that helps you earn rewards when you’re on vacation or eating out.
- Credit Recommended (660-850):
- Rewards Rate
- 2X points on travel and dining
- Intro Rewards Bonus
- 60,000 bonus points
- Foreign Trans Fee
- Annual Fee
- Regular APR
- 18.24% - 25.24% Variable
- Credit Recommended
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
- Chase Sapphire Preferred named "Best Credit Card for Flexible Travel Redemption" - Kiplinger's Personal Finance, June 2018
- 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
- No foreign transaction fees
- 1:1 point transfer to leading airline and hotel loyalty programs
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel
- No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards
7 ways to maximize your Chase Sapphire Preferred® Card
To get the most bang for your buck, it’s important to use your card wisely. With some pre-planning, you can get more value from the card.
1. Redeem points through the Chase Ultimate Rewards program
With the Chase Sapphire Preferred® Card, you can redeem your rewards in several different ways, including statement credits and gift cards. However, the best way to redeem your points is through the Chase Ultimate Rewards Travel Portal. Points redeemed through the Ultimate Rewards program are worth 25% more than other redemption methods.
Each point is worth about 1 cent each, but when you redeem them through the Chase Ultimate Rewards portal, their value jumps to 1.25 cent each. When spending at the 2X level on travel and dining, that means you can earn 2.5% cash back.
With the Chase Ultimate Rewards program, you can book flights, hotel stays, cruises, and more.
2. Spend $4,000 within the first three months to earn the signup bonus
If you spend $4,000 within the first three months of opening an account, you’ll get a 50,000-point signup bonus. If you redeem that signup bonus through the Chase Ultimate Rewards portal, that bonus is worth $625. That gives you a 15.63% return on your spend, a generous reward.
3. Use it when traveling internationally
If you’re looking for a card to use when traveling overseas, the Chase Sapphire Preferred® Card is a natural fit. The card has no foreign transaction fees, making the card a smart option for booking your travel and shopping internationally. And, because it’s a Visa, it’s widely accepted across the globe.
4. Consider point transfers
While redeeming your points is easiest through the Chase Ultimate Rewards portal, you may get more value in some cases by instead doing a point transfer. With this approach, you can transfer your Ultimate Rewards points to a number of travel partners.
Travel partners include Southwest Airlines Rapid Rewards, British Airways Executive Club, and IHG Rewards Club. Depending on the partner, you could get a better transfer than 1:1, giving you more cash back value for your points. We found some transfers worth as much as 1.6 cents each, giving you more value than simply redeeming your points through Chase Ultimate Rewards.
5. Refer friends
One unique perk that the Chase Sapphire Preferred® Card is the ability to refer friends. You can invite friends to apply for the card, and, for every one that is approved, you’ll get 10,000 bonus points — a $125 value. You can earn up to 50,000 points — or $625 — a year by referring friends.
6. Take advantage of travel protections
For additional cost savings, make sure you utilize the travel protections offered by the Chase Sapphire Preferred® Card. The card includes the following protections:
- Trip Delay Reimbursement: If your trip is delayed for eligible reasons, you can get reimbursed for up to $500 to cover the cost of things like food or lodging.
- Baggage Delay Reimbursement: If your bag doesn’t show up on time, you can get up to $100 a day for up to five days to cover essentials, like toiletries.
- Travel Accident Insurance: Get up to $500,000 in the event of accidental death or dismemberment, when traveling by common carrier.
- Auto Rental Collision Damage Waiver: Decline the rental company’s coverage and use your card when you rent a car and get coverage against damage or theft.
7. Supplement with another card
The Chase Sapphire Preferred® Card offers valuable rewards on dining and travel, allowing you to earn 2X points per $1 spent. However, you’ll earn just 1% on all other purchases.
To boost your rewards, it makes sense to supplement your Chase Sapphire Preferred® Card with another rewards credit card that offers a higher rate of return on other purchases, like gas or groceries. Depending on the card, you could get 1.5% cash back on all purchases, or up to 5% cash back on select spending categories. Using both cards can help you maximize your cash back.
To find another rewards credit card to use in addition to the Chase Sapphire Preferred® Card, check out the best cards of 2019.