Chase Sapphire Preferred® Card

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Perfect for someone who dines out regularly and travels a lot.

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The Chase Sapphire Preferred® Card was introduced in 2009, but got a significant makeover in 2016. We found this is an awesome card if you travel frequently and want the flexibility to book the airline or hotel of your choice with your reward points.

This card is one step below the super-premium credit cards, meaning you’ll get good rewards without having to fork over hundreds of dollars in annual fees each year.

Review

The Chase Sapphire Preferred card awards 50,000 bonus points to new cardholders after qualifying spends. This eclipses most of the other account opening offers we’ve seen, especially for a card with a far lower annual fee than many other premium rewards cards. This card also gives 2X points back on restaurant and travel purchases, and defines those categories loosely. For example, ride-hailing apps, airport parking and tolls all typically qualify to earn two points per $1 spent. All other purchases earn 1X point per dollar spent.

If you’re specifically looking for airport lounge access, reimbursement for pre-screening passes and other travelers’ delights, you may want to consider a premium card like the Chase Sapphire Reserve or the The Platinum Card from American Express — both of which come with a much larger annual fee, but the travel benefits might make it worth to you.

Who should get this card

Anyone who likes to travel and dine out can likely earn back enough rewards points to compensate for the $95 annual fee, which is waived for the first year. If you spend $4,750 or more over the course of a year in just those two categories, you’ll break even on the fee in rewards points, which you can use as a statement credit to pay down some of those charges. Chase’s definition of travel is fairly broad and includes items like tolls, trains, taxis and campgrounds, so if you ever leave your house you should find it easy to meet that spending threshold.

The top-shelf bonus, worth $625 in travel, is generous enough to pay for a pair of round-trip plane tickets to many domestic destinations. And if you combine Chase’s offerings with your own airline points system, you could really rake in the rewards.

The sign-up bonus alone makes the card’s annual fee (again, waived the first year) pretty easy to swallow.

Advantages
  • Earn a whopping 50,000 Chase Ultimate Rewards points, worth $625 in travel redemption, when you spend at least $4,000 within the first three months of card ownership.
  • Cardholders earn double points back on travel and restaurant spending.
  • All other purchases receive one point per dollar spent.
Disadvantages
  • Even though it’s waived the first year, you’re still going to pay $95 per year going forward.
  • If you don’t want to use Chase’s travel portal for booking, you could lose out on maximizing your rewards. If you aren’t much of a traveler and/or you don’t dine out often, you may be better off with a card offering bonus rewards in another category.

Fees and APR

  • The introductory annual fee is $0 for the first year. After that, $95.
  • You’ll pay no foreign transaction fee when using the card for purchases outside of the United States.
  • The annual percentage rate is a variable 17.74% to 24.74%, based on your creditworthiness.

Extras, perks and using points

The biggest perk with this card is the ability to redeem Chase Ultimate Rewards points through Chase’s travel portal, which increases the value of your points by 25%. The sign-up bonus of 50,000 points is also one of the most generous available for a card with a relatively low annual fee.

To use the 50,000 points, log on to your Chase account and redeem your points for gift cards, cash back or travel. The points are worth $500 if you choose a statement credit, gift cards or wish to transfer the points to another rewards program, like Southwest Airlines Rapid Rewards.

You’ll get more mileage on those points — $625 in travel credits — if you book directly through Chase’s travel portal. Your points will be used to cover all or a portion of the cost. You’ll have to pay any remaining balance.

There is no fee to redeem your points.

How this card compares

U.S. Bank Altitude™ Reserve Visa Infinite® Card
  • Earn 3X points per dollar for travel and mobile wallet spend.
  • Earn 1X point per dollar on all other purchases.

This card offer is currently unavailable on Bankrate. To see more cards in this category, please visit our excellent credit category page.

Credit Needed

Excellent

Regular APR

17.49%. This APR will vary with the market based on the Prime Rate.

Annual Fee

$400.

Balance Transfers Intro APR

Another contender in the premium rewards card category is the U.S. Bank Altitude Reserve Visa Infinite, which, in addition to its boosted rewards on travel also 3X points per $1 on all mobile wallet purchases—something no other card currently offers. This means you could theoretically earn triple points on all your spending with this card. The only catch is you have to be a U.S. Bank customer to apply for the card.

Capital One® Quicksilver® Card – 0% Intro APR for 15 Months
  • One-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening
  • Earn unlimited 1.5% cash back on every purchase, every day
  • No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
  • 0% intro APR on purchases for 15 months; 14.74%-24.74% variable APR after that
  • 0% intro APR on balance transfers for 15 months; 14.74%-24.74% variable APR after that; 3% fee on the amounts transferred within the first 15 months
  • Pay no annual fee or foreign transaction fees
Credit Needed

Excellent, Good

Regular APR

14.74% - 24.74% (Variable)

Annual Fee

$0

Purchase Intro APR

0% intro on purchases for 15 months

Balance Transfers Intro APR

0% intro on balance transfers for 15 months

The Capital One Quicksilver Cash Rewards Credit Card is simple. And that’s a good thing.

The card’s rewards program is structured so you don’t have to think about whether this is the month that gas station spending pays more or that it’s time to take advantage of warehouse club spending. There’s also no annual fee, so you don’t have to do the math about how much you’ll have to spend to make the card worth it.

EDITORIAL NOTE

Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines, or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.