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Chase Sapphire Preferred: 5 Reasons to Get it Now

Jan. 5, 2015
Credit Cards
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If you’re thinking about getting a travel credit card, you’ve probably run across the Chase Sapphire Preferred® Card in your research. Although there are lots of choices to sort through, the Nerds think it’s a great time to apply for this stellar card.

Not sure why? Here are six good reasons:

1. You’ll earn bonus rewards on dining and travel

If your lifestyle involves being away from home a lot, the Chase Sapphire Preferred® Card is a natural fit. With it, you’ll earn 2 points per dollar spent on travel and dining out and 1 point per dollar spent on all other purchases.

In general, the points earned with the Chase Sapphire Preferred® Card are worth $.01 each. But if you redeem them for travel through the Chase Ultimate Rewards site, their value goes up by 25% apiece. That’s an outstanding rewards rate, so if your spending aligns with the card’s bonus categories, it’s probably a good one to keep in your wallet.

2. The Chase Sapphire Preferred® Card allows you to transfer points to partners

Aside from booking travel directly through Chase, you’ll also have the option to transfer your points to participating frequent traveler programs. If you’re good at finding sweet spots frequent flyer award charts, this feature could make the Chase Sapphire Preferred® Card really valuable.

As of June 2015, Chase Sapphire Preferred® Card transfer partners include:

  • United MileagePlus
  • British Airways Executive Club
  • Southwest Rapid Rewards
  • Korean Air SKYPASS
  • Singapore Airlines KrisFlyer
  • Virgin Atlantic Flying Club
  • Hyatt Gold Passport
  • IHG Rewards Club
  • Marriott Rewards
  • The Ritz-Carlton Rewards

3. You can earn extra points with Shop through Chase

Using online rewards malls to score extra rewards with your credit card is always a smart choice, and Shop through Chase is no exception. Making your online purchases through this portal could result in racking up big points bonuses, so be sure to capitalize on this feature when you get the Chase Sapphire Preferred® Card.

4. You’ll score a killer signup bonus

Like most travel rewards credit cards, the Chase Sapphire Preferred® Card comes with a signup bonus. But its offer is particularly sweet: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®.

That equates to $625 to spend on travel if you book through Chase Ultimate Rewards, and potentially even more if you transfer your points to partners. Talk about a generous opening offer!

5. The Chase Sapphire Preferred® Card is a great choice for traveling overseas

Using a U.S. credit card overseas can be a hassle, but you can set most of your worries aside with the Chase Sapphire Preferred® Card. It comes chip-enabled and charges no foreign transaction fees. These features will help ensure that your trip abroad will be an adventure, rather than an expensive and inconvenient misadventure.

Image via iStock.