For the long haul: Why TPG readers still love the Chase Sapphire Preferred Card

May 13, 2021

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The Chase Sapphire Preferred Card is undoubtedly one of the best travel credit cards on the market — for both beginners and points pros.

Of course, the card does come with a stellar sign-up bonus. Currently, you can earn 100,000 Ultimate Rewards points after you spend $4,000 on purchases in the first three months from account opening. TPG values Chase Ultimate Rewards points at 2 cents each, making this bonus worth $2,000. But its value lasts far beyond the sign-up bonus you can earn when you first apply for the card. I’ve personally had mine for almost three years now, and many TPG readers have had it for even longer.

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We reached out to ask TPG readers who have the Chase Sapphire Preferred why they’ve kept it over the years, and there were a few popular reasons people have held onto the card.

In This Post

Transfer partners

One of the major reasons TPG readers have held onto their Chase Sapphire Preferred cards is because of the redemption opportunities through Chase Ultimate Rewards transfer partners. You can currently transfer your points at a 1:1 value with 10 airline and three hotel partners.  You get access to the same set of partners as the Chase Sapphire Reserve — but without the higher annual fee.

TPG readers have used this benefit to take some stellar trips over the years.

Katie Mulheran, a TPG reader who has had the card for nine years now, has used her Chase Sapphire Preferred to book multiple trips to Napa, California. She’s also booked a trip from Minneapolis-Saint Paul International Airport (MSP) to Munich International Airport (MUC) for a ski trip in Austria.

Mulheran has used her Chase Sapphire Preferred on multiple trips to Napa in California. (Photo by Zach Griff/The Points Guy)

And remember — you can pair your Chase Sapphire Preferred with one of the no-annual-fee Chase cards and transfer points so you can take full advantage of the Ultimate Rewards program.

“I’m keeping it because it allows me to transfer the points I get from my (Chase Freedom Unlimited),” Anthony Mongelluzzo told TPG. His Freedom Unlimited is currently more beneficial to use in terms of earning, but the Chase Sapphire Preferred helps him maximize redemptions. This is actually the strategy I personally use with my Chase Sapphire Preferred and Chase Freedom Unlimited duo.

Related: How to maximize your Chase Ultimate Rewards points

Trip insurance

Having a Chase credit card with trip insurance allows cardholders to avoid sleeping in airports during flight delays or cancellations. (Photo by Tommaso Tagliaferri via Getty Images)

Another common reason TPG readers cite for keeping the card is the extensive trip insurance coverage that comes on the card. Chase easily offers the most robust travel protections on its Sapphire credit cards compared to other travel credit cards.

Mulheran told TPG that trip insurance is the other primary reason she holds onto her card.

“I used the car insurance option when I rented a car for a two-week road trip in Ireland and saved a significant amount of money because I was able to decline the insurance from the rental car agency. On that same trip, my flight was diverted to the U.K. due to weather and … (I) was able to get reimbursed for that non-refundable (hotel) stay due to using my Chase Sapphire Preferred.”

Related: Your guide to Chase’s trip insurance coverage

TPG reader Richard Sorrell is a big fan of the card’s rental car coverage. He told TPG he’s used it twice with no hassles, and that’s one reason why he keeps it in his wallet (next to his Chase Freedom, which is no longer open to applications).

A rental car on Australia's Great Ocean Road
Rental car coverage can save you a lot of money while giving you peace of mind while on your trip. (Photo by Katie Genter/The Points Guy)

Ann Ruhmkorff is also a fan of the rental car coverage.

“(The) biggest benefit for us is the rental car insurance that covers Ireland … most cards don’t,” she said. She’s also used it twice — both claims quick and painless.

Trip insurance was also mentioned by TPG readers Arie Van Duijn, Judy Haran, Anthony Felix and more. It’s an underrated benefit of the card. Of course, no one wants to think about the worst-case scenario happening while on a trip. But when you have the Chase Sapphire Preferred in your wallet, you can have a bit more peace of mind when you travel that unexpected hiccups will be covered.

Flexible redemption options

During the coronavirus pandemic, flexibility has been the name of the game. Chase has been a frontrunner alongside American Express when it comes to offering temporary (and sometimes permanent) benefits to help cardholders make the most of their cards while travel isn’t a priority.

Related: A pandemic-era guide to maximizing card perks and benefits 

Ruby Escalona — who typically uses her Ultimate Rewards points for a trip to Europe each year — told TPG she’s taken advantage of the new Pay Yourself Back feature from Chase to redeem points for 1.25 cents each on everyday expenses such as groceries and home improvement.

Chase’s Pay Yourself Back feature lets you redeem your points for non-travel expenses such as groceries at the same 25% bonus as you would for travel through the Ultimate Rewards portal. (Photo by AsiaVision/Getty Images)

Bottom line

With such an amazing sign-up bonus, the Chase Sapphire Preferred is a bit of a no-brainer for travelers who are under Chase’s infamous 5/24 rule. But there are plenty of reasons to keep it in your wallet for years after you earn the sign-up bonus.

And remember that if you get the card and decide you want more luxury perks and a higher portal redemption rate, you can request an upgrade to the Chase Sapphire Reserve after you’ve had the card for at least one year.

APPLY HERE: Sign up for the Chase Sapphire Preferred card with an 100,000-point bonus.

Featured photo by John Gribben for The Points Guy. 

Chase Sapphire Preferred® Card

WELCOME OFFER: 100,000 Points

TPG'S BONUS VALUATION*: $2,000

CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners

*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.

Apply Now
More Things to Know
  • Our best offer ever! Earn 100,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,250 when you redeem through Chase Ultimate Rewards®.
  • Earn 2X points on dining including eligible delivery services, takeout and dining out and travel. Plus, earn 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 100,000 points are worth $1,250 toward travel.
  • With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
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Regular APR
15.99%-22.99% Variable
Annual Fee
$95
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
Recommended Credit
Excellent/Good

Editorial Disclaimer: Opinions expressed here are the 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.