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Full Review Chase Sapphire Preferred Card
Good Looks and Good Benefits
Chase Sapphire Preferred and I go way back. It was the heart of "worst economy since the Great Depression" and I desperately wanted to have credit available in case the worst happened. I was on the lookout for a card with a great signing bonus, top notch benefits, and no annual fee. It was the best option then, but the question now is, can you do better with another credit card?
Earn 40,000 bonus points when you spend $3,000 on purchases in the first 3 months from account opening. - According to Chase, these 40,000 bonus points are worth $500 which makes it a comparable top tier signing bonus.
Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening. - This is a nice extra bonus that most cards do not offer. In the grand scheme of things, 5,000 points is only good for $60 of bonus, but if you can add an authorized user then that's one extra reason to go with this credit card.
2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases - Another great reason to go with the Chase card is double points on my favorite categories travel and dining. Chase points continue to carry good value as opposed to hotel credit cards, or even American Airlines points, so 2x actually means something.
Stunning looks - By far the nicest and heaviest credit card I've used. Now, to be fair, I haven't had a Centurion card or Visa Black, but aside from those uber-cards, you can't beat the standout metal finish of the Sapphire Preferred Card. Many a cashier would take a good look at me after running the credit card.
No annual fee the first year - Nothing beats a great signup bonus and flexibility. Not having to worry about the annual fee for the first year gives you the option to trade down to the Chase Sapphire card if you decide that the benefits aren't worth the $95 cost.
Does it matter what your credit card looks like?
And The Bad
None - I thought this one through, and I could dock the card a few review points for having an annual fee kick in the 2nd year...but compared to its peers, just having the 1st year without the annual fee makes this card worthwhile.
If you want to nitpick, then you may notice that there aren't substantial categories for bonus points like 5x for gas or plane tickets or something like that.
Chase Sapphire Preferred Yay or Nay
Chase Sapphire Preferred
Stunning look and feel
Annual fee starting year 2
Super signing bonus worth $500
Extra bonus for adding an authorized user
No foreign transaction fees
2x for travel and dining
I believe that being frugal and making smart money choices is like any other exercise. As we continue to practice good habits in saving money where possible, finding deals for what we want, and having a good time at it, then we become better at dealing for a living.
I'm committed to sharing my experiences with getting the most out of using credit cards, saving and spending tips, and I might even add a slice of perspective without trying to be a psychoanalyst like some other personal finance folks out there.
Please let me know what you think and if you'd like to hear my take on a specific topic.
Verdict: Go Get It
I'm not in any way affiliated with Chase, and yet I find myself giving the strongest recommendation imaginable for a credit card to the Chase Sapphire Preferred Card. Not only does it cover all the bases by giving you all the expected benefits and the signing bonus to reward yourself, but because of the fit and finish, you feel like a million bucks. For a card to give you that feeling without charging a single $$ makes it a top pick. If you're in the market for a new card with top benefits, don't miss your chance to get this card.