Written by Amy last month
This card may be the best value in the travel rewards category, earning 2X on travel and dining and 1X on all other purchases, all for a low annual fee of $95 (waived for the first year).
Review of the Chase Sapphire Preferred® Card
With a focus on travelling on dining rewards, the Chase Sapphire Preferred® Card offers 2X points on travel and dining and 1X on everything else. If you tend to spend more in this “everything else” category (for example, on gas or groceries), a cash back card would be a better fit.
Points are redeemable through the Chase Ultimate Rewards program, which offers a 1:1 point transfer to leading airline and hotel loyalty programs including those offered by United, Southwest, Hyatt, Marriott, IHG, and Ritz-Carlton.
This card also offers a generous sign-up bonus of 50,000 points after you spend $4,000 within the first 3 months.
If you're a frequent traveler another card to consider is the Chase Sapphire Reserve Card, which offers the same sign-up bonus, even more rewards (3X in the bonus categories), and annual $300 travel credit. The Reserve version has a $450 annual fee, $355 more than the Preferred version, which is recouped if you use the Reserve's annual $300 travel credit and spend at least $5,500 a year (1X more than the Preferred version X $5,5000 spending = 5,000 points = $55 value).
The Bottom Line
This card may be the best value in the travel rewards category, earning 2x on travel and dining and 1x on all other purchases, all for a low annual fee of $95 (waived for the first year!). If you’re a big spender, the Reserve version of the card offers even more rewards.