The Chase Sapphire Card is quite possibly one of the most popular credit cards for people just starting to dip their toes into travel rewards. And rightfully so. The Sapphire Preferred offers a low annual fee, bonus categories, flexible redemption options and many other perks.
Right now, you can earn 60,000 bonus points on the Chase Sapphire Preferred by spending $4,000 on the card within the first three months of opening the account. Although that’s not the best offer we’ve seen to date, it’s still a great way to earn a bulk of valuable points at once.
But the sign-up bonus isn’t the only reason to get one of our favorite travel credit cards for beginners. Let’s look at six benefits of the Chase Sapphire Preferred to see why it may deserve a place in your wallet.
With a 1:1 redemption rate (1 cent per point), the 60,000 Chase Rewards points are equal to $600 cash back — but you can get even more out of the bonus depending on how you redeem the rewards. (Business class flight to Europe, anyone?)
While this may be all the incentive you need to sign up, the Sapphire Preferred offers a whole slew of additional perks that make this card worth the $95 annual fee. There’s a reason why it’s one of our top-rated travel credit cards and best credit cards with annual fees under $100.
On top of its generous sign-up bonus and rewards program that offers 5X points on Lyft rides through March 2025, 5X points on travel purchased through Chase Ultimate Rewards, 3X points on dining and 2X points on all other travel purchases, the Sapphire Preferred also offers some less obvious benefits that you may not know about.
For a soft-on-the-wallet annual price tag of $95 you’ll earn 5 points per dollar on travel purchased through Chase Ultimate Rewards®, 3 points per dollar on dining, select streaming services, and online grocery purchases (excluding Walmart, Target and wholesale clubs), 2 points per dollar on all other travel purchases and 1 point per dollar on all other purchases.
Those are easy-to-digest earnings that someone just dipping their toe in travel rewards is likely to be able to manage. But the card also offers some plush extras that appeal to even more experienced rewards wranglers, like a 25% increase in value when you use your rewards for travel booked through the Chase Travel center and a $50 annual credit on hotel stays purchased through Chase Ultimate Rewards.
That’s the kind of reward redemption value that nearly anyone who ever plans a trip beyond their front door can appreciate.
Benefits – Chase Sapphire
The Chase Sapphire Preferred card comes with many great perks besides the rewards program. A lot of them are geared toward frequent travelers, though you’ll also find some lifestyle benefits as well. These include:
- A $50 annual hotel credit for stays purchased through Chase Ultimate Rewards;
- Complimentary DashPass, DoorDash’s subscription service through 12/31/24;
- 5x points on Lyft rides through March 2025;
- Anniversary point bonus equal to 10% of your total annual purchases over the previous year;
- Trip cancellation/interruption insurance;
- Rental car coverage;
- Extended warranty protection;
- 120 days of purchase protection;
- No foreign transaction fees.
The card also gives you access to My Chase Plan, which lets you break up purchases over $100 into fixed monthly payments. You don’t pay any interest on My Chase Plan purchases, but you do pay a fixed monthly fee.
Sign-Up Bonus
One of the biggest benefits of Chase Sapphire Preferred is its sign-up bonus. If you spend at least $4,000 with the card within the first three months, you’ll get 60,000 bonus points. If you redeem those points toward travel through the Ultimate Rewards portal, they’re worth $750.
Though this is one of the best credit card deals on the market right now, remember that you’ll need to spend $4,000 to get it.
“Reward cards often attract people with a sign-up bonus, which usually involves spending a hefty amount up front to qualify. It’s important to not spend more than you can pay off,” says Courtney Nagle, a spokesperson for the National Foundation for Credit Counseling (NFCC).
However, if you’re planning to spend $4,000 in the next three months anyway and can afford it — for example, if you have a big purchase on the horizon — then putting the balance on your Chase Sapphire Preferred card can give you a big head start on earning your next free trip.
It’s important to note that you’re not eligible for this bonus if you currently have a Chase Sapphire card or have earned a new cardmember bonus from any Sapphire card in the last four years.
Maximizing Your Approval Odds for a Credit Card Application
When it comes to applying for a credit card, your approval odds can greatly impact the outcome of your application. To increase your chances of being approved for the card you desire, consider the following strategies:
- Check Your Credit Score: Start by reviewing your credit score. Most credit card issuers, including Chase for the Sapphire Preferred card, prefer applicants with good to excellent credit scores. If your score needs improvement, take steps to boost it before applying.
- Pay Down Debt: Reducing outstanding debt can positively influence your credit utilization ratio, a crucial factor in credit card approval. Aim to keep your credit card balances low, ideally below 30% of your credit limit.
- Maintain a Stable Income: Demonstrating a steady source of income is essential. Card issuers want to see that you can comfortably manage your monthly payments.
- Verify Eligibility: Ensure you meet the card’s eligibility requirements, such as age, income, and credit score. Applying for a card that aligns with your financial profile increases your chances of approval.
- Prequalify: Many credit card issuers offer prequalification tools on their websites. These tools allow you to check if you’re likely to be approved without impacting your credit score.
- Apply at the Right Time: Timing matters. Applying for multiple credit cards within a short period can raise concerns for issuers. Space out your applications to avoid red flags.
- Review Your Credit Report: Obtain a copy of your credit report and check for inaccuracies or discrepancies. Dispute any errors to ensure your credit history is accurate.
- Consider a Co-Signer or Authorized User: If your credit isn’t strong enough, you can consider having a co-signer or becoming an authorized user on someone else’s credit card account to build credit history.
- Choose the Right Card: Apply for a credit card that matches your creditworthiness and financial needs. For example, the Chase Sapphire Preferred is designed for those with good to excellent credit who enjoy travel rewards.
- Provide Accurate Information: Be truthful and accurate when filling out your credit card application. Inaccurate information can lead to rejection.
- Respect the Issuer’s Rules: Different card issuers may have specific rules and limitations. Familiarize yourself with these rules to align your application with their requirements.
- Follow Up: If your application is pending or denied, don’t hesitate to follow up with the issuer. Sometimes, providing additional information or clarification can lead to approval.
By implementing these strategies, you can significantly enhance your chances of being approved for the credit card you desire. Remember that each credit card application may result in a hard inquiry on your credit report, so it’s important to be selective and thoughtful when applying for credit cards to protect your credit score.
