The Chase Sapphire Preferred Card offers 50,000 bonus points for new cardholders who manage to spend a total of at least $4,000 on purchases during their first three months of membership. This bonus is equal to $625 toward travel booked through Ultimate Rewards. It’s without a doubt that this offer makes Chase Sapphire Preferred Card one of the most attractive travel rewards credit cards overall.
Points are earned at the following rates when you make purchases with Chase Sapphire Preferred Card:
- Two points for every dollar spent on dining at restaurants and travel
- One point for every dollar spent on all other purchases
The rewards don’t stop with this point system. The Chase Sapphire Preferred Card offers these additional perks not typically found with other credit cards:
- No foreign transaction fees. When cardholders make international purchases, most credit cards charge an additional fee, usually up to 3%, just to process the transaction. That can be in addition to any foreign currency exchange fee. The Chase Sapphire Preferred Card has no foreign transaction fee so it’s perfect for use on purchases anywhere outside the United States.
- Live customer service representative. When customers call the customer service line, they have access to deal directly with a live representative rather than automation. At any time of the day or night, cardholders will be able to call the always-available customer service. I have not had a chance to test the quality of this customer service, so please feel free to share your experiences at the end of this review.
There is an introductory annual fee of $0 the first year, then the annual fee is $95 per year, it’s important to keep this in mind as you enter the second year of membership. As always, you should consider whether the rewards you receive exceed the annual fee in value. And of course, you must be a Type B credit card user, one who does not pay interest or late fees due to paying the bill in full and on time every month, in order for any of these rewards to be worthwhile — otherwise you’re better off finding a low-interest credit card.
For the right profile of cardholder, $625 worth of travel plus the overall rewards of this card can mean quite a bit of time and money saved.
Updated December 15, 2016 and originally published May 18, 2011.