It’s no secret why we’re excited about the Chase Sapphire Preferred® Card right now.
…its current welcome offer is the bee’s freaking knees: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
That's worth a lot of moolah when you redeem through Chase Travel℠, might I add.
Maybe you’re on the fence? Maybe you’ve already sent your application? Or maybe you were initially denied?
Whatever the case, we hope this helps as you contemplate or prepare for the Sapphire Preferred.
And unlike Mr. Ramsay, we’re not being sarcastic.
Here’s everything we’ll dive into:
Pros and Cons
Let’s get into it, shall we?
Pros:
5x points on travel booked in the Chase Ultimate Rewards travel portal
3x points on dining, takeout, grocery delivery services, and streaming services
2x points on travel
1x points on everything else
(Plus a $50 annual hotel credit and trip insurance)
Cons:
The $95 annual fee 🙃
Here’s some fun math for you (if there is such a thing):
The average American household spends $475.25 per month on groceries, according to the latest data from the U.S. Bureau of Labor Statistics.
If you used the Sapphire Preferred to pay for your delivered groceries for three months, you’d earn about 4,277 points.
Americans spend an average of about $300 per month on eating out, which would grant you about 2,700 points.
Not only would you be over two-thirds of the way done with your minimum spend, but you would have added almost 7,000 points to your account (and that’s just on groceries and dining out).
Ok, enough math.
Why the Sapphire Preferred should have a permanent home in your wallet:
The current welcome offer…duh.
Anniversary Points Boost equal to 10% of purchases made in the previous year
Elevated points redemption of 1.25 each when booking through their travel portal
Chase’s offers and statement credits
Perhaps the world’s best transfer partners list (including our personal fave — World of Hyatt), many of which have frequent transfer bonuses to help you get even more value from your points:
Program Name | Transfer Ratio |
|---|---|
Aer Lingus | 1:1 |
Air Canada | 1:1 |
British Airways | 1:1 |
Emirates | 1:1 |
Iberia | 1:1 |
JetBlue | 1:1 |
Air France/KLM | 1:1 |
Southwest Airlines | 1:1 |
United Airlines | 1:1 |
Singapore Airlines | 1:1 |
Virgin Atlantic | 1:1 |
IHG One Rewards | 1:1 |
Marriott Bonvoy | 1:1 |
World of Hyatt | 1:1 |
What to do when bringing home your newborn card
Now that you’re good and convinced about the awesomeness of the Sapphire Preferred, let’s chat about what comes next.
Picture this:
You’ve just applied for the Sapphire Preferred about a week ago.
You see the glorious “you’ve been accepted” email pop up in your inbox.
Now, you await this magical piece of metal in your real mailbox.
Baby steps:
First things first — shift ALL of your spending to this card.
Even if you hold a card that earns 5x points on groceries, resist the temptation. Use the Sapphire Preferred until you make your minimum spend and then you can do whatever you want.Start using the Shopping Portal and the Travel Portal…immediately.
If you want to get the most from the Sapphire Preferred, trust us and do as we say. Using both portals will not only grant you the most points, but it will save you money in the long run.Hold off on other applications.
This might sound like credit card common sense, but it’s just a healthy reminder. Focus on making your minimum spend on the Sapphire Preferred before jumping to the next offer. Your credit score will also thank you.
To wrap things up:
There is a lot to consider when it comes to the Chase Sapphire Preferred® Card.
But, there’s a reason it’s a favorite among our team and so many others.
Its earning potential, flexibility, transferability, and all the other -bilities are what make it so special.
Maybe you apply and are denied? Or maybe you apply and are the proud parent of your new favorite child?
Choose the latter.
