23 Reasons why the Chase Sapphire Preferred® is the Best Travel Credit Card

The Chase Sapphire Preferred® is regarded as the best travel credit card by most points and miles experts for its exceptional benefits and low annual fee. Here are the 23 reasons why it should be your first travel credit card and why this is a keeper card.

Lucrative Sign Up Bonus

The Chase Sapphire Preferred® always has a lucrative welcome bonus. The sign up bonus is currently 60,000 points for spending $4000 on the card in the first 3 months. That is only $1333 a month. If you put all of your expenses and bills on your card, most people can easily meet this $4000 minimum spend requirement.

Low Annual Fee

It has a low annual fee of $95 and you get a $50 statement credit each account year for hotel stays paid for through Chase Travel℠ I view this as an automatic reduction of $50 from the annual fee because I know I will use it. This credit is based on an account year, not calendar year.

You Earn “Flexible Rewards Points”

There are 3 different types of travel credit cards. There are airline cards, hotel cards and cards that earn flexible points. You always want at least one card that earns flexible rewards points since this gives you the most flexibility. You can use these points, called Chase Ultimate Rewards Points, for flights, hotels, rental cars, tours and even cruises. You can book these with Chase Travel℠ which is similar to Expedia or you can easily transfer your points to their travel transfer partners. Transferring to travel partners is the key to getting the most value from your points. This allows you the ultimate flexibility in how you use your points. Another benefit of flexible points is that there are often transfer bonuses where you can get anywhere from 15% to 40% additional points when you transfer your points to certain hotel and airline partners. This can make a huge difference and allow you to stretch your points and miles even further.

Travel Transfer Partners

If you love to travel, the best benefit is that the Chase Sapphire Preferred® opens up the ability to transfer your Chase Ultimate Rewards® points to their airline and hotel transfer partners. As I mentioned earlier, this is the key to getting the most value from your points. This is not possible with any of the Chase no annual fee cards. When you have a no annual fee Chase card you are able to use your points to book travel with Chase Travel℠ (similar to Expedia) but you cannot transfer your points to their transfer partners. Transferring to partners is where the fun really starts. Chase partners with 11 airlines and 3 hotel chains so this give you plenty of options. Hyatt is one of their hotel travel partners and their points are considered the most valuable hotel points in the points and miles game. Let’s say you need to book a hotel for a night by the Atlanta airport and you want a decent hotel that ranks at least 4 out of 5 stars and offers free breakfast. You can find a Hyatt Place for 5000 points a night. Their competitors Marriott, IHG and Hilton charge considerably more, anywhere from 16,000 – 35,000 a night for an equivalent hotel. Currently the sign up bonus for the Chase Sapphire Preferred® is 60,000 points when you spend at least $4000 on the card in the first 3 months. If you only used your 60,000 points for Category 1 Hyatt Hotels that cost 5000 points a night, that would give you 12 nights!! Sometimes you can even find Category 1 properties for 3500 points a night. If you wanted to do a beach vacation you can book the new Hyatt Place on Panama City Beach, Florida for 12,000 points a night. If you want to go to Cabo San Lucas /Los Cabos you could stay at a fancy all inclusive Hyatt for 20,000 – 25,000 points a night or a more basic, but brand new Hyatt Place for 3500 – 5000 points a night. If you wanted to use your 60,000 points for airfare you can get a roundtrip ticket to Europe in economy class or one way ticket in business class.

25% More Value by booking with Chase Travel℠

You get 25% more value from your points when you book with Chase Travel℠. Again, this is similar to booking with Expedia but you are able to use your points. So if a hotel costs $125 it will cost you 10,000 points, so you are getting 1.25 cents per point.

Good Everyday Bonus Categories

Bonus Categories are those categories you earn more than 1x points per dollar on. This card has bonus categories that most people spend money on. The key to earning the most points possible through everyday spending is to pay attention to the bonus categories of the cards you have and ideally only put bonus category spend on each card . That way you maximize your point earnings.

With this card you earn:

5x travel booked through Chase Travel℠. So if you spend $1000 you will get 5000 points, which is enough to book a free night at a Category 1 Hyatt Place.

2x on all other travel. Chase’s definition of travel is one of the most broad in the industry. It includes everything from airfare, hotels, rental cars, campgrounds, taxi’s, airbnb’s, parking garages, discount travel sites, timeshares, travel agencies, busses, trains and ferries.

3x on dining, restaurants, fast food, takeout and most food delivery services like Grubhub and Doordash.

3x on Streaming Services such as Apple Music, Apple TV, Disney+, ESPN+, Fubo TV, HBO Max, Hulu, Netflix, Pandora, Paramount+, Peacock, Showtime, SiriusXM, Sling, Spotify, YouTube TV and Vudu.

3x on groceries purchased online, such as pickup or delivery from grocery store chains and most meal kit delivery services (excluding Target, Walmart and wholesale clubs). Many grocery store apps code as online grocery so paying through a grocery store app often codes as 3x online grocery.

You also earn 5x points on Lyft through March of 2025.

All other charges only earn 1x which is certainly better than nothing. It is always recommended to have a credit card that earns at least 1.5x on all of your purchases. That way instead of putting all of those 1x purchases on the Chase Sapphire Preferred® you can earn a lot more points by putting them on your 1.5x card. Chase has 2 cards that earn 1.5x on all of your spend. These cards work well with the Chase Sapphire Preferred®.

Temporary Perks and Bonus Categories

This card usually has other temporary perks. Currently you get a complimentary DoorDash DashPass membership and a $10 DoorDash credit monthly on a a non-restaurant purchase.

10% points back

Each account anniversary you’ll earn bonus points equal to 10% bonus points based on your total spend at 1x per dollar spent. So if you spent $100,000 points then you would get 10,000 points back.

Trip Cancellation/Trip Interruption Insurance

If your trip is canceled or cut short by sickness, severe weather and other covered situations, you can be reimbursed up to $10,000 per covered traveler and $20,000 per trip for your pre-paid, non-refundable travel expenses including passenger fares, tours and hotels. You can find details on this in the Guide to Benefits for the card.

Trip Delay Reimbursement

Trip Delay Reimbursement is also included. This coverage applies to if your common carrier travel is delayed more than 12 hours or requires an overnight stay, you and your family are covered for unreimbursed expenses, such as meals and lodging, up to $500 per traveler.

Lost Luggage Reimbursement

If you or an immediate family member check or carry on luggage that is damaged or lost by the carrier, you’re covered up to $3,000 per passenger.

Baggage Delay Coverage

This reimburses you for essential purchases like toiletries and clothing for baggage delays over 6 hours by passenger carrier up to $100 a day for 5 days.

Auto Rental Collision Damage Waiver

Decline the rental company’s collision insurance and charge the entire rental cost to your card. Coverage is primary and provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most rental cars in the U.S. and abroad. Primary coverage means if you get in an accident, you won’t need to claim it on your own auto insurance. Most credit cards offer secondary coverage where you have to file the claim with your own insurance first and whatever they don’t pay then Chase might pay. Having primary coverage can be a very valuable benefit if you do get into an accident.

Travel and Emergency Assistance Services

If you run into a problem away from home, call the Benefit Administrator for legal and medical referrals or other travel and emergency assistance. (You will be responsible for the cost of any goods or services obtained.)

Roadside Assistance Dispatch

if you have a roadside emergency, call 1-800-847-2869 anytime to dispatch the help you need—anything from a tow or jumpstart to a tire change, lockout service, winching or gas delivery. Roadside service fees will be provided when you call and will be billed to your card.

Travel Accident Insurance

When you pay for your air, bus, train or cruise transportation with your card, you are eligible to receive accidental death or dismemberment coverage of up to $500,000.

No Foreign Transaction Fees

No Foreign Transaction Fees on charges made internationally. Many cards charge 3%. The card is also a Visa which is accepted practically everywhere.

Extended Warranty Protection

Let’s say your new computer stops working a few months after the manufacturer’s warranty expires. This coverage extends the time period of the U.S. manufacturer’s warranty by an additional year on eligible warranties of 3 years or less.

Purchase Protection

You’re devastated because your favorite new jacket gets stolen. You can get reimbursed for the cost of the jacket with this coverage. It covers your new purchases for 120 days against damage or theft up to $500 per claim and $50,000 per account.

Zero Liability Protection

You won’t be held responsible for unauthorized charges made with your card or account information. If you see an unauthorized charge, simply call the number on the back of your card.

Pay Yourself Back

Chase offers something called “Pay Yourself Back” that allows you to pay yourself back for certain charges at 1 cent per point. Chase changes the pay yourself back categories quarterly. In the past they have offered home improvement stores, grocery stores and others as categories. It is typically not recommended to use your points for this, but if you have more points than you need this can be a great option.

Cash Out Your Points

Chase has the option to cash out your points at 1 cent per point and use that money towards a statement credit or deposit it into your bank account. You can also purchase gift cards at 1 cent per point. Just like pay yourself back, these options aren’t recommended unless you have more points than you need or really need the cash.

If you have any questions about the Chase Sapphire Preferred® feel free to get in touch. I’m happy to help. You can DM me on Instagram or Facebook @mostlyfreetravel or email me at [email protected]. If would like to sign up for the Chase Sapphire Preferred® you can find my affiliate link in the Credit Card Links at the top of this page.