Awesome Card for Travel and Restaurant Spending
I’ve had the Chase Sapphire Preferred for the past several months. I initially chose to get this card because of the great sign-up bonus that it offered. I got 40,000 Ultimate Rewards points for spending $3,000 within three months, and each dollar of spending added another point to the total, unless the dollar went to restaurants or travel expenses. Then each dollar spent earned 2 points. I also added my spouse as an authorized user and got 5,000 more Ultimate Rewards points for a total of 48,000 points. This was a great deal, and Chase even waives the annual fee for new users for the first year.
Users can redeem points for cash at a rate of $0.01 per point. They can also go to the Chase travel portal and redeem points for 1.25 cents each. The best redemption option is actually transferring the points to travel partners at a 1:1 ratio. Popular options are Southwest Airlines, British Airways, United Airlines, Marriott, and Hyatt. Using this last option allows for flexibility and can frequently pay off at a rate of at least 2 cents per point. I used the transfer option to get 4 tickets to LAX on Southwest Airlines for just 29,000 points. That’s hard to beat.