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Chase Sapphire Preferred: Is It a Viable Rewards and Travel Card in Early 2020?

Updated on January 24, 2020
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I'm just a small-time guy working a normal job as a physician assistant. My passion is building PCs and testing/reviewing PC hardware.

Chase Sapphire Preferred Credit Card in Early 2020

Chase Sapphire Preferred

Hello everyone. Welcome back to GR8 Tech 2Day. I am Will and today I am continuing my series on the Chase credit cards and what they offer. This series has been quite eye opening and I’m very much looking forward to continuing it. Chase has many cards to choose from and I plan on reviewing them all and eventually applying myself for these cards. The next card in the series is the Chase Sapphire Preferred card. So, without further delay, let’s take a look at the Chase Sapphire Preferred card and what you get with it.

The Chase Sapphire Preferred card is one of Chase’s top cards along with the Chase Sapphire Reserve. Essentially, these two cards are in the same tier of credit cards but the Reserve offers a few more benefits and has a higher annual fee. Yes, the Sapphire Preferred also has an annual fee making this the first card we have reviewed with an annual fee. What does the Sapphire Preferred offer? Well, let’s take a look.

Chase Sapphire Preferred Benefits

First, as a new cardmember, you will get a 60,000 bonus point introductory offer. This offer will give you 60,000 bonus point when you spend $4,000 on purchases during the first 3 months of opening the Chase Sapphire Preferred account. These points, when valued based on the Chase Ultimate Rewards portal, are worth roughly $750 toward travel. The card offers premium travel and dining rewards where you earn 2x points on travel and dining at restaurants. You get 2x points on airfare and hotels and fine dining and cafes. Plus, you will earn 1 point per dollar spend on all other purchases. You also get 25% more value for your points when you redeem for airfare, hotels, car rentals, and cruises through Chase Ultimate Rewards. So, with the 60,000 points, as stated previously, you would get $750 in value when redeeming your points.

If you are a member of a frequent traveler program, you can transfer your Chase points to leading frequent travel programs at a 1 to 1 values. Airline travel partners include but aren’t limited to British Airway Executive Club, Emirates Skywards, and United Mileage Plus. Hotel travel partners include IHG Rewards Club, Marriott Bonvoy, and World of Hyatt.

Chase Sapphire Preferred Benefits (Continued)

You get protections with this card as well. Protections such as trip cancellation/interruption insurance. This insurance covers 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 person and $20,000 per trip for prepaid, non-refundable travel expenses, including passenger fares, tours, and hotels.

You also get Auto Rental Collision Damage Waiver. This will allow you to 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 United States and abroad.

You will get baggage delay insure that reimburses you for essential purchases like toiletries and clothing for baggage delays over 6 hours by passenger carrier up to $100 per day for 5 days. You will get trip delay reimbursement along with travel and emergency assistant services, purchase protection up to $500 per claim and $50,0000 per account, and finally extended warranty protection.

You will get partner benefits from DoorDash and Lyft. With DoorDash, you will get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, which is DoorDash’s subscription service. For Lyft, you will earn 5x points on Lyft rides through March 2022.

The card comes with an annual fee of $95 which isn’t too bad considering some of the other available cards out there. There are no foreign transaction fees with this card and you will be looking at a 17.49%-24.49% variable annual percentage rate. And with all of this, you still get more. With the Chase Sapphire Preferred card, you can transfer points from other Chase cards to the Sapphire Preferred card and get more value. When transferring points, you get an additional 25% per point so, 1.25 points for every point redeemed in the Chase Ultimate Rewards portal.

Conclusion and Final Thoughts: Will I Get This Card?

So, is this card worth the $95 annual fee? Well, it really depends on what you are looking for. If you are looking for cash back then, no, it really isn’t as there are other cards out there such as the Citi Double Cash card and a few others that offer a better cash back earning potential. Now, if you are looking into getting free travel perks, then absolutely. If you have other Chase cards, it is even better with the 1.25 points per 1 point that you can get when redeeming points in the Chase Ultimate Rewards portal. It is definitely worth it if you do travel at least 2-4 times per year and if you can get the bonus by spending that $4,000 in the first 3 months of having the card.

Will I be getting this card? Yes, I will be getting this card. As a matter of fact, this will be the first credit card I will be applying for once my home loan goes through and papers are signed. So, early next month, I will apply and I have a great chance of getting this card as my credit score is currently ranging from 808 – 815 depending on which credit service you use. I also have a long history of credit dating back to when I was 17 years old… That’s a 20 year spread. This card for sure fits me and my future endeavors as I plan on doing some international traveling over the next few years, hopefully 2-3 times per year.

So, there you have it. The Chase Sapphire Preferred card in early 2020. Is it a viable rewards card? Yes. Is it a viable travel card? Absolutely. Thanks for stopping by. Leave me a comment below and don’t forget to vote in the poll.

Ask Sebby Reviews the Chase Sapphire Preferred

Chase Sapphire Preferred: Worth Getting?

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This article is accurate and true to the best of the author’s knowledge. Content is for informational or entertainment purposes only and does not substitute for personal counsel or professional advice in business, financial, legal, or technical matters.

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