Why I’m keeping my Chase Sapphire Preferred Card forever
Editor's Note
Over the years, I've thought of giving up my Chase Sapphire Preferred® Card (see rates and fees) a few times, mostly because I am intrigued by the Chase Sapphire Reserve® (see rates and fees), but I've realized you can't really beat the benefits ... especially for a card with such a low annual fee.
The card earns a solid 2 Chase Ultimate Rewards points per dollar spent on travel and 3 points per dollar spent on dining while delivering exceptional travel protection benefits — rarely seen in a credit card with an annual fee under $100.
It also provides outstanding travel redemption possibilities when transferring points to one of Chase's valuable transfer partners, such as United Airlines, Hyatt and British Airways.
So why have I decided to keep the Chase Sapphire Preferred Card in my wallet indefinitely? Here are just a few reasons.
Valuable transfer partners
For me, the World of Hyatt program is the single most valuable transfer partner of the Chase Ultimate Rewards program. Ultimate Rewards points transfer to Hyatt at a 1:1 ratio and it's easy to get outsize value at Hyatt properties (like the Park Hyatt London River Thames).
I've stayed at Hyatts in Vienna, Maui and Paris using my transferred Chase points over the years. It's by far my favorite way to use my Chase points.
Ultimate Rewards points can also be transferred at a ratio of 1:1 to another of my favorite transfer partners, Air France-KLM Flying Blue. I've transferred my Chase points to Flying Blue for some amazing redemptions.
Just one example? I flew from Newark to Paris in Air France business class for just 50,000 Flying Blue miles (after a devaluation, the lowest rate is now 60,000 miles, but that's still a great deal).
Chase Ultimate Rewards has other great transfer partners, including British Airways, Air Canada and Singapore Airlines.
Related: Sweet spots that get you more value for your Ultimate Rewards
Good-value redemptions
I also like earning points with my Chase Sapphire Preferred Card. It's a full-fledged Chase Ultimate Rewards points-earning card, just like the Chase Sapphire Reserve or Ink Business Preferred® Credit Card. That means I can book travel through Chase Travel℠.
The information for the Ink Business Preferred has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Or I can transfer points to one of Chase's 14 travel partners (11 airlines and three hotel chains).
As a Chase Sapphire Preferred cardholder, I can redeem points via Chase Travel for up to 1.75 cents apiece, depending on the specific redemption (see your rewards program agreement for full details).
Related: The power of the Chase Trifecta
Statement credits
One of my favorite features of my Sapphire Preferred Card is the once-yearly statement credit on hotels booked via Chase Travel. I've been able to use the credit every year to offset one of my hotel stays.
Last year, on my quest to visit all 50 states, I stayed at the fun AC Hotel by Marriott Little Rock Downtown for about $190. After the statement credit, it cost me just $140.
That's more than half the annual fee right there.
I've also taken advantage of many Chase Offers over the years for extra savings. I've saved $190.49 in statement credits simply by enrolling in offers for stores, restaurants and services I would have shopped at anyway.
Primary car rental insurance
I also like the ability to decline the car rental company's offer of a "collision damage waiver."
The Sapphire Preferred (along with some other premium credit cards) provides primary car rental insurance, which allows holders to decline those added fees but still have insurance.
If you are in an accident in your rental vehicle, this coverage reimburses you for the damage or replaces the vehicle.
All that's required to add the extra layer of protection when renting a car is to pay the rental with your Chase Sapphire Preferred, and you'll be protected if any unfortunate accident occurs.
There's also trip cancellation and interruption insurance, so I'm backed up in case things go sideways during my travels.
Related: Credit cards that offer car rental coverage
Ultimate Rewards points really add up
I travel quite a bit, and I love earning 2 points per dollar spent on travel and 3 points per dollar spent on dining with the Sapphire Preferred. I've also enjoyed earning 5 points per dollar spent on travel booked via the Chase Travel portal and the 5 points per dollar spent on Lyft rides (through September 2027).
As an added perk, the Sapphire Preferred runs on the Visa payment network, so I am virtually guaranteed acceptance with most merchants I frequent while traveling outside the U.S. That's not always the case with American Express.
Oh, and no foreign transaction fees.
Bottom line
I've been on a bit of a speaking circuit recently, and I've been strongly advocating for newbies to sign up for the Chase Sapphire Preferred Card. It's a great beginner card.
It's currently offering a welcome bonus of 75,000 Ultimate Rewards points after you spend $5,000 on purchases in the first three months from account opening.
The Chase Sapphire Preferred stays in my wallet year after year. I easily get more in value than the $95 annual fee. I'm keeping this card for the long haul.
To learn more, read our full review of the Chase Sapphire Preferred.
Apply here: Chase Sapphire Preferred Card
TPG featured card
Rewards
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 3X | Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com. |
| 2X | Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Intro offer
Annual Fee
Recommended Credit
Why We Chose It
There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits.Pros
- 4 points per dollar spent on dining at restaurants worldwide and U.S. supermarkets (on the first $50,000 in purchases per calendar year; then 1 point per dollar spent thereafter and $25,000 in purchases per calendar year; then 1 point per dollar spent thereafter, respectively)
- 3 points per dollar spent on flights booked directly with the airline or with amextravel.com
- Packed with credits foodies will enjoy
- Solid welcome bonus
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
- Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
- $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
- $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
- Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.
Rewards Rate
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 3X | Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com. |
| 2X | Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Intro Offer
You may be eligible for as high as 100,000 Membership Rewards® Points after spending $6,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.As High As 100,000 points. Find Out Your Offer.Annual Fee
$325Recommended 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.Excellent to Good
Why We Chose It
There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits.Pros
- 4 points per dollar spent on dining at restaurants worldwide and U.S. supermarkets (on the first $50,000 in purchases per calendar year; then 1 point per dollar spent thereafter and $25,000 in purchases per calendar year; then 1 point per dollar spent thereafter, respectively)
- 3 points per dollar spent on flights booked directly with the airline or with amextravel.com
- Packed with credits foodies will enjoy
- Solid welcome bonus
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
- Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
- $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
- $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
- Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.