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Update: The Chase Sapphire Preferred® Card sign-up bonus offer is now 50,000 points when you spend $3,000 in the first 3 months.

Chase is now waiving the $95 annual fee for the Sapphire Preferred and offering 25,000 Ultimate Rewards points when you spend $3,000 in the first three months.

While it is not widely publicized, Ultimate Rewards points transfer to Hyatt, Continental, British Airways, Marriott and Priority Club at a 1:1 ratio and usually instantly (check out the full Ultimate Rewards program booklet here though note this is from last summer before the Hyatt card launched. Since the Hyatt card is issued by Chase, Ultimate rewards points can now be transferred to Hyatt- if you are skeptical, call to confirm before applying for the card). There’s also no foreign transaction fee and you get a 7% annual dividend on the total amount of points you accrue throughout the year (even if you spend them). So if you spend $25,000 a year, you’ll earn 25,000 Ultimate Rewards Points plus 1,750 extra points as your dividend.

Personally, I think it’s a great value when transferring to Hyatt, since the to category 6 hotels are 22,000, so this offer equals a free night at a $500+ Park Hyatt, with 3,000 points left over. This would also be 5 nights at a category 1, so if you want to redeem for lower level properties, this card may make more sense than the $75 Hyatt card which only gives 2 nights.

This is one of the credit cards that I do get credit if you sign up, but I want to stress I’m not promoting it for that reason. Considering the huge value with Hyatt and the waived annual fee and no pesky foreign transaction fees, which I wrote about yesterday, I firmly believe this is a solid card all around.

Chase Sapphire Preferred Card

With great transfer partners like United and Hyatt, 2x points on travel & dining and a 50,000 point sign up bonus, the Chase Sapphire Preferred is a great card for those looking to get into the points and miles game.

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More Things to Know
  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
  • Named Best Credit Card for Flexible Travel Redemption - Kiplinger's Personal Finance, July 2016
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards
Intro APR on Purchases
Regular APR
16.49% - 23.49% Variable
Annual Fee
Introductory Annual Fee of $0 the first year, then $95
Balance Transfer Fee
Recommended Credit
Excellent Credit

Editorial Disclaimer: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.