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Key Link: Chase Sapphire Preferred Card
For many years this was the single best card for earning valuable rewards points, in a class by itself. Now it’s refreshed with the biggest public offer there’s ever been for the card.
Recently they were offering 50,000 points after $4000 spend within 3 months of account opening. The annual fee of $95 was $0 the first year.
Now they’ve increased the card’s offer to 60,000 points with the same spending requirement. The card’s annual fee isn’t waived the first year.
In year one you earn 10,000 more points though at a $95 higher cost. That’s a no-brainer. I consider Chase points to be worth 1.8 cents apiece so you’re getting an extra $180 from the card. (Even if you just cashed out the points for paid travel at 1.25 cents apiece that’s still $125…)
They’ve never opened up a 60,000 point offer to anyone who wished to apply for the Chase Sapphire Preferred Card before.
I’ve been a fan of the Chase Sapphire Preferred Card as an important tool for frequent flyers for a long time because:
- It earns one of the most valuable points currencies, which transfer to a variety of airlines (including in all 3 major airline alliances) and hotels.
- It earns points quickly, with double points on both travel and dining (what travelers tend to spend on most).
Chase will generally only approve new customers for this card that have gotten fewer than 5 new cards in the past 2 years (so getting a Chase Sapphire Preferred Card before you apply for other cards makes good sense). In addition to be eligible for a bonus on this card you cannot be a current Sapphire cardholder or have received a Sapphire card bonus in the last 48 months.
Here are my 12 favorite things about Sapphire Preferred.
- Double Points on All Travel and Dining
That’s what most of my spend is, especially reimbursable spend — not just air and not just hotels, but both and cars and taxis and tolls, plus meals on the road.
To be sure the Sapphire Reserve earns 3 points per dollar on travel and dining, but I’m asked frequently by people that have the Reserve whether they should keep that $450 annual fee card after the first year, and it’s a much tougher card to get approved for in readers’ experience.
- Ultimate Rewards Mall
Additional points for your online shopping through access to the Chase Ultimate Rewards mall, a mileage-earning shopping portal that often has the most lucrative opportunities to earn extra points for the online purchases you’d make anyway.
- Points transfer to Singapore Airlines — one of the best airlines in the world, with great premium cabin availability, stopovers for a fee even on one-way awards, and very low fees
It’s very rare indeed that you can ever use miles from Star Alliance partner programs like United MileagePlus, Aeroplan, or LifeMiles for long haul premium cabin travel on Singapore. But Singapore offers members using their own miles fantastic award availability on most of their routes. Suites Class is even regularly available between Europe and Singapore as well as Australia.
- Points transfer to United Airlines MileagePlus which is great because it’s one of the few airlines in the world that does not add fuel surcharges onto any awards and because that gives you access to availability across the Star Alliance and with easy online bookings.
- Points transfer to Air France which offers great business class award availability and discounts on awards up to 50%.
They make far more award space available on Air France and KLM flights to their own members than they do to partners. I find really good space between the US and Europe, even on West Coast routes.
Flying Blue offers promo awards each month, discounting certain markets 20% – 50% that let you book travel between that city and anywhere Air France or KLM flies in Europe (depending on the gateway that is on sale).
- Points transfer to Hyatt which gives you access to high-end hotel redemptions, reasonably-priced suite awards, and room upgrades with points.
Hyatt lets you redeem ~ 60% more points than a standard room for a suite on a free night. And Hyatt lets you spend 6000 points per night on a qualifying paid rate stay to upgrade to a suite — at booking. And that 6000 point price is the same regardless of the price level of a hotel. For additional points you can even book a premium suite.
You do have to pay the standard or Hyatt daily rate to use points to upgrade a paid reservation to a suite, and at a resort you have to book at least a deluxe room to be eligible to use points for upgrades. And free nights in suites require a minimum 3 night stay.
Park Hyatt Aviara
- Points transfers with most airline and hotel partners are instant.
This is great because you don’t risk awards disappearing this way. And you don’t need to transfer points to an airline or hotel program until you need them, since transfers happen quickly. (Singapore Airlines transfers in my experience take 12-24 hours but have taken as long as 36 — which is ok since Singapore has let me put awards on hold, then I’ll transfer the points).
- Purchase Protection
If you buy something and the merchant won’t take it back and it’s within 120 days of your purchase, they can pay you back instead up to $500.
When I dropped my Android phone on the sidewalk two months after I bought it, I smashed the glass screen — and I wound up with a check for $314.99.
If a manufacturer’s warranty lasts a year, they’ll cover a second year. If it lasts two years, they’ll cover a third year. So if your stuff breaks don’t just throw it away, call Chase and get the ball rolling on their provider sending you a check.
- Baggage Delay Coverage
If your checked bags are delayed more than 6 hours they’ll reimburse you for things like toileteries and clothing you need to buy, up to $100 a day for 5 days (or until your bags are delivered, if less).
And if your checked or carry-on bags are damaged or lost permanently, they extend coverage up to $3,000 per passenger.
- Primary Rental Collision Coverage
If you rent a car with this card you don’t just earn double points (for travel) but get extra protection. Most premium cards offer secondary collision coverage, they pay what your insurance doesn’t (which usually means they cover your deductible). With Sapphire Preferred’s primary coverage, rental a qualifying vehicle and charge it to the card and your insurance company may not even need to know…
- Trip Delay Coverage
Buy airline tickets with the card and if you’re delayed 12 hours or overnight you can get reimbursed for hotel costs and meals.
You must be on a round trip ticket (trip not to exceed a year) and have charged at least a portion of your ticket to the card.
The $500 benefit applies to each spouse or dependent (under age 22) that’s delayed whose ticket you charged to the card.
Since you only have to charge a portion of a ticket to the card, coverage applies even to award travel thus it’s best to pay award ticket taxes with a Sapphire Preferred Card (and not just for the double points on airfare).
- The Card Has a Great Look and Feel
This isn’t a reason to get a card but it’s a sleek card, heavier than what you’re used to and without any raised numbers (and in fact, no numbers on the front of the card).
AndyAndy decided downgrade his Chase Sapphire Preferred card to a regular Sapphire card with no fee (no longer available). He tried to dispose of the card himself. With a blow torch.
I applied for this card back in 2011. And it’s still a great role-player, especially as a ‘Chase hub’ where you earn points at accelerated rates with Chase’s no annual fee cards and then transfer them to the Chase Sapphire Preferred Card so that those points can then be moved to airline miles and hotel points.