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I hardly use my Chase Sapphire Preferred — here’s why I still keep it

March 26, 2021
6 min read
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When travel credit card beginners ask me what card they should get, the Chase Sapphire Preferred Card is generally at the top of my recommendation list. I got the card back in 2018 when I was first jumping into travel rewards, and it’s remained a staple in my wallet ever since.

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But between adding new cards to my wallet and shifting spending habits this past year, I rarely use it anymore. I now use my Chase Freedom Unlimited for non-bonus spending, my American Express® Gold Card is my go-to for dining and groceries and I haven’t been traveling enough to offset the $95 annual fee on its own.

So why not downgrade or cancel? Even though I don’t earn enough points with my Chase Sapphire Preferred to offset its $95 annual fee, I still get enough overall value from the card to warrant keeping it long-term.

Access to the Ultimate Rewards portal

At the top of the list of reasons why I’m hanging onto my Chase Sapphire Preferred is the fact that it gives me access to the Ultimate Rewards travel portal and its transfer partners.

With my Sapphire Preferred, I can book travel through the portal at a 25% bonus, transfer to 10 airlines and three hotel partners at a 1:1 ratio and use the Pay Yourself Back feature for some non-travel redemptions as well.

Though I’m not earning a ton of points these days with the Sapphire Preferred, I am earning a considerable amount with the Chase Freedom Unlimited. It’s what I use on all of my non-bonus spending, such as online shopping, home improvement projects, buying books and more. I can then transfer those points over to my Chase Sapphire Preferred account and use them as full-fledged Ultimate Rewards points.

This advantage alone is enough to make me hold onto the card.

Because I still have the Chase Sapphire Preferred, I can transfer points to partners such as Hyatt. (Photo by Chris Dong/The Points Guy)

Travel protections when I book with my card

I may not be going anywhere internationally right now, but I do have a few domestic getaways on my list for when I get vaccinated (including a trip back to Arkansas to see family). But whether I’m traveling closer to home or to far-flung places, the Chase Sapphire Preferred is one of the best cards out there for travel protections.

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When I book a trip with my Chase Sapphire Preferred, I get the following coverage:

That’s better coverage than you get with some ultra-premium cards that charge $500 or more in annual fees.

Of course, the hope is that I never have to use any of these benefits. But things happen when you’re on the road, and as a young woman who frequently travels solo, the peace of mind I get by booking with my Chase Sapphire Preferred is worth the cost.

Related: How to make a Chase trip delay or cancellation claim

General travel expenses

When I do get back to traveling regularly, I’ll likely start using the card more frequently. While I’ll still use my Amex Gold for dining at restaurants and flights, my Chase Sapphire Preferred will be the default card for things such as Lyft, Airbnb rentals and more.

Chase defines travel broadly, which means I can earn bonus points on a lot more than just standard flights and hotels with the card. Since I typically stay in Airbnbs when I travel, my other cards won’t earn rewards on this purchase.

I'm big on Airbnbs when I travel, so earning 2x on a broader category is a nice benefit. (Image courtesy of Airbnb)

Free delivery and lower fees with DashPass

Finally, I am an avid DoorDash customer. I cook most nights, but at least once a week, I’ll end up ordering takeout. And on those nights, the DashPass benefit I get through my Chase Sapphire Preferred saves me money with free delivery and reduced fees on eligible orders.

I live in an area where most of my favorite restaurants are available on DoorDash — sushi from Mr. Tokyo, ribs from City Barbeque, burgers from Bad Daddy’s and more.

And while the Chase Freedom Unlimited also offers DashPass benefits, the Chase Sapphire Preferred’s complimentary membership lasts longer. Ultimately, I’ll use the full benefit on both cards, but at least one full year of complimentary DashPass has been just another reason to keep the Chase Sapphire Preferred in my wallet. (Must activate DashPass subscription by March 31, 2022.)

Bottom line

All in all, the Chase Sapphire Preferred still gives me far more than $95 in value each year, even if it’s not in the form of earned points. And for that reason, it’ll continue to hold a top slot even if I don’t put a ton of purchases on it these days.

For those of you who would also get a lot of value from the card, now is an excellent time to apply. The card is currently offering a sign-up bonus of 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening.

Related: Who’s eligible for the Chase Sapphire Preferred bonus?

Featured image by (Photo by John Gribben for The Points Guy)
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
4 / 5
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Rewards

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1.5XEarn 1.5X points on eligible purchases at US construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year
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The Points Guy Exclusive Offer: Earn 150,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Platinum Card® within the first 3 months of Card Membership.

Annual Fee

$695

Recommended Credit

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Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Why We Chose It

It's hard to find a card that competes with the mile-long list of benefits that come with the Amex Business Platinum. While it's certainly not the card for the average consumer, a business owner with tons of expenses -- especially related to travel -- will find this card incredibly valuable. This card is similar to the consumer version that Amex offers, but with more business-oriented perks around statement credits and earning rates that are a better fit for business owners.

Pros

  • An up to $100 credit for Global Entry or TSA PreCheck application fee every four to five years
  • Up to $400 annual credit for eligible U.S. Dell purchases (enrollment required)
  • Gold status at Marriott and Hilton hotels (enrollment required)
  • Access to the Fine Hotels & Resorts program and Hotel Collection
  • Extended warranty protection
  • International Airline Program and Cruise Privileges Program

Cons

  • Steep annual fee
  • Difficulty meeting $15,000 welcome offer for smaller businesses
  • Limited high-bonus categories outside of travel
  • The Points Guy Exclusive Offer: Earn 150,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Platinum Card® within the first 3 months of Card Membership.
  • Get 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com, and 1X points for each dollar you spend on eligible purchases.
  • Earn 1.5X points (that’s an extra half point per dollar) on eligible purchases at US construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year.
  • Unlock over $1,000 in annual statement credits on a curation of business purchases, including select purchases made with Dell Technologies, Indeed, Adobe, and U.S. wireless service providers.
  • $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year for checked baggage fees, lounge day passes, and more at one selected airline.
  • $189 CLEAR® Credit: Use your Card and get up to $189 back per year on your CLEAR® membership. CLEAR® is available at more than 50 U.S. airports and stadiums.
  • The American Express Global Lounge Collection® can provide an escape at the airport. With more than 1,400 airport lounges across 140 countries and counting, you have more lounge location options than any other credit card on the market as of 9/2021.
  • $695 Annual Fee.
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TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
4 / 5
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Rewards Rate

5XGet 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com
1.5XEarn 1.5X points on eligible purchases at US construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year
1X1X points for each dollar you spend on eligible purchases.
  • Intro Offer
    The Points Guy Exclusive Offer: Earn 150,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Platinum Card® within the first 3 months of Card Membership.

    Earn 150,000 points
    120,000 points
  • Annual Fee

    $695
  • Recommended Credit
    Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

    670-850
    Good, Excellent

Why We Chose It

It's hard to find a card that competes with the mile-long list of benefits that come with the Amex Business Platinum. While it's certainly not the card for the average consumer, a business owner with tons of expenses -- especially related to travel -- will find this card incredibly valuable. This card is similar to the consumer version that Amex offers, but with more business-oriented perks around statement credits and earning rates that are a better fit for business owners.

Pros

  • An up to $100 credit for Global Entry or TSA PreCheck application fee every four to five years
  • Up to $400 annual credit for eligible U.S. Dell purchases (enrollment required)
  • Gold status at Marriott and Hilton hotels (enrollment required)
  • Access to the Fine Hotels & Resorts program and Hotel Collection
  • Extended warranty protection
  • International Airline Program and Cruise Privileges Program

Cons

  • Steep annual fee
  • Difficulty meeting $15,000 welcome offer for smaller businesses
  • Limited high-bonus categories outside of travel
  • The Points Guy Exclusive Offer: Earn 150,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Platinum Card® within the first 3 months of Card Membership.
  • Get 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com, and 1X points for each dollar you spend on eligible purchases.
  • Earn 1.5X points (that’s an extra half point per dollar) on eligible purchases at US construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year.
  • Unlock over $1,000 in annual statement credits on a curation of business purchases, including select purchases made with Dell Technologies, Indeed, Adobe, and U.S. wireless service providers.
  • $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year for checked baggage fees, lounge day passes, and more at one selected airline.
  • $189 CLEAR® Credit: Use your Card and get up to $189 back per year on your CLEAR® membership. CLEAR® is available at more than 50 U.S. airports and stadiums.
  • The American Express Global Lounge Collection® can provide an escape at the airport. With more than 1,400 airport lounges across 140 countries and counting, you have more lounge location options than any other credit card on the market as of 9/2021.
  • $695 Annual Fee.
  • Terms Apply.