Every new credit card that hits the market seems to be billed as “The Hottest Thing.” Huge sign-up bonuses, coupon book-like credits, and creative multipliers abound in the credit card market, with banks constantly trying to come up with new ways to lure customers from their competitors. Yet with all the hype surrounding new products, the best card options are often the “old faithful” that have been available for years.
Such is the case with the Chase Sapphire Preferred card. The Sapphire Preferred has been a standard bearer for points and miles collectors for years and is well-known as one of the best keeper cards. The Sapphire cards (Preferred and Reserve) serve as the foundation of the lauded “Chase Trifecta” and provide a points bonus for redemptions through the Chase Travel Portal (25% and 50%, respectively). One of the Sapphire cards (or the Chase Ink Business Preferred) is required to transfer points to Chase’s extensive list of travel partners, including Southwest, United, and Hyatt. As a personal card with a reasonable $95 annual fee, the Sapphire Preferred is the most commonly held Chase card for points collectors
The Sapphire Preferred has recently made headlines for its updated sign-up offer of 80,000 Ultimate Rewards points for $4,000 of spending over three months. This offer is significantly better than the typical offer of 60,000 points, and with Chase points valued at 2 cents apiece (according to the Points Guy’s valuations), the current offer could be worth $400 more than the regular offer. Offerings like these come around periodically but typically only last for a limited time. Therefore, anyone who doesn’t currently hold a Chase Sapphire card (applicants can only have one Sapphire card at a time and only receive a bonus every 48 months) should consider applying before the current offer expires.
Multipliers on the Sapphire Preferred are typical for keeper-quality travel cards, with 5x points on travel purchases made through the Chase portal, 3x on dining and online groceries, 3x on streaming services, and 2x on other travel. General spending earns 1x points. The annual fee is offset by a $50 hotel credit for purchases made through the Chase travel portal. Additional memberships for DoorDash and Instacart and a monthly GoPuff credit also offsets the annual fee.
One of the best benefits of Chase Sapphire cards is primary rental car coverage which takes effect before personal car insurance coverage. The card has various insurances, including baggage delay, trip cancelation, and cell phone protection. The card also has no foreign transaction fee and provides a 10% anniversary point bonus on spending.
With all of the provided benefits, credits, and multipliers, along with a 25% bonus through the Chase travel portal and access to Chase’s transfer partners, its easy to see why the Sapphire Reserve is one of the most acclaimed credit cards in the points and miles game. If you don’t have a Sapphire card and have yet to receive a bonus on one in the last 48 months, there won’t be a better time to apply. If the card seems a good fit for you and you’d like to support therewardsmaster.com, please use our link to apply.
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