Chase Sapphire Preferred® Card Review – 50,000 Point Sign Up Bonus

The Chase Sapphire Preferred (CSP) is Chase’s entry level annual fee card. It gives cardholders the ability to transfer points to Chase’s travel partners, has a generous sign up bonus and bonus categories on travel & dining. In this review we will be looking at the benefits & negatives to this card and who it’s best suited to. Along with the minimum credit score we’d recommend you have before applying.

 

Interest Rates

Fees

Card Pros

  • 50,000 point sign up bonus
  • Ability to transfer to travel partners at 1:1 rate
  • 25% travel redemption bonus

Card Cons

APR: 16.99% to 23.99 Annual Fee: $95, waived first year
Introductory APR: None Balance Transfer Fee: $5/5% whichever is greater
Introductory APR Length: None Cash Advance Fee: $10/$5 whichever is greater
Cash Advance APR: 25.99% Foreign Transaction Fee: None
Penalty APR: 1 Late Payment Fee: $15-$37
Grace Period: 21 days Over The Credit Line: N/A
Minimum Interest Charge: None Returned Payment: Up to $37

Application Information

What Credit Score Is Required?

The CSP is considered a premium/prime card so you’ll normally need “excellent” credit to be accepted for this card.

Credit Boards Credit Karma
Lowest approved score 629 664
Average approved score 744 727

We suggest that you have a minimum credit score of 700 to apply for the Chase Sapphire Preferred and a recommended score of 720+. 

Common reasons for denial:

[Read: I was denied for the Chase Sapphire Preferred, now what]

What Credit Bureau Do They Pull?

The exact credit bureau that Chase pulls for the Chase Sapphire Preferred depends on the state you currently live in. Find out which bureau Chase pulls from your state.

Rewards Program

This card earns Chase Ultimate Rewards points.

Earning Points

This card earns at the following rates:

  • 2x points per $1 spent on travel and dining at restaurants
  • 1x points per $1 spent on all other purchases

Sign Up Bonus

  • 50,000 points after $4,000 in spend within the first 3 months of account opening. You also receive an additional 5,000 points after you add an authorized user and they make their first purchase

Public bonus history:

Targeted bonus history:

Redeeming Points

You can redeem points for the following:

  • Statement credit/cash back: 1¢ per point
  • Chase’s travel portal: 1.25¢ (this is due to the 25% travel redemption bonus)
  • Transfer points to one of Chase’s travel partners. They are as follows (1:1 transfer rate):
Chase Travel Partners (All Transfer 1:1)    
Airlines
British Airways Executive Club Singapore Airlines KrisFlyer Virgin Atlantic Flying Club
Flying Blue AIR FRANCE KLM Southwest Airlines Rapid Rewards Aer Lingus
Korean Air SKYPASS United MileagePlus Iberia Plus
Hotels
Hyatt Gold Passport Marriott Rewards
IHG Rewards Club The Ritz-Carlton Rewards

Card Benefits

Transfer to travel partners at 1:1 rate

As mentioned above holding this card allows you to transfer to Chase’s travel partners loyalty programs at a rate of 1:1. You can also combine points from Chase’s non annual fee products (Chase Freedom & Chase Freedom Unlimited) and use those points to transfer to travel partners.

25% Travel Redemption Bonus

When redeeming points through Chase’s travel portal you get a 25% bonus making points worth 1.25¢ each rather than 1¢.

Primary Rental Car Insurance

This is one of the few cards that offers primary rental car insurance. Most only provide secondary insurance.

Price Protection

You can read more about their price protection policy here.

Our Verdict

The best feature of this card is really the sign up bonus, as it provides a minimum value of $500 and significantly more if you can take advantage of the transfer partners. That being said second year onwards the card gets less and less attractive due to the $95 annual fee. Earning 1x on all purchases isn’t attractive when you have the Chase Freedom Unlimited earning at a rate of 1.5 and other cards earning 2% cash back or more on all purchases. Earning 2x on dining isn’t that attractive either, with other cards now earning up to 4x.

There is some value in having the primary rental car insurance and also having the ability to transfer Chase UR points, but for the majority of people I don’t think holding the card long term makes much sense. We talk about this more in this post: Keep, Downgrade, Cancel: Chase Sapphire Preferred.

All of that being said, I do think it provides fantastic value in the first year due to that sign up bonus and if you’re eligible for this card I’d recommend applying for it if you can meet the minimum spend requirements. Just remember you’re limited to one Chase Sapphire card, so you might want to consider the Chase Sapphire Reserve. That card has a much higher annual fee of $450, but more benefits and higher earning rates. The sign up bonus is currently the same.

F.A.Q’s

Can you earn the sign up bonus more than once?

Yes it’s possible to earn the sign up bonus more than once. This is known as credit card churning. If it’s been more than 24 months since you last received the bonus on a card then you’re eligible to get the bonus again.

Card History/Changes


12 Responses to Chase Sapphire Preferred® Card Review – 50,000 Point Sign Up Bonus

  1. Veronica says:

    How can i get miles or points for 2 round trip flight from San Juan Puerto Rico to Milan in low season with the Chase Sapphire and Chase Freedom credit cards ? What other credit card can i add to get 120,000 UR points?

  2. matt says:

    I’d really appreciate it if you’re willing to use my link. I want to use the bonus toward my student loans. thanks! 🙂

    https://applynow.chase.com/FlexAppWeb/renderApp.do?PID=CFFD2&SPID=FGKQ&CELL=6RLH&MSC=1517938244

  3. Pingback: Annual Fee Refund Rules For Each Card Issuer - Doctor Of Credit

  4. Pingback: New Chase Sapphire Reserve/Elite Card Will Be A Visa Infinite - Doctor Of Credit

  5. Bungy says:

    Just an FYI- rideshares such as Lyft and Uber DO count as travel and on the Sapphire reserve should be up to 3x points! It currently registers as double points on this card.

  6. Julien says:

    If anyone needs a referral link for 50000 points after $4000 spending in 3 months :

    https://applynow.chase.com/FlexAppWeb/renderApp.do?SPID=FH8L&CELL=600D&AFFID=&CLICK=&CID=&PROMO=DF01&MSC=1533522903

    Another 5000 points for adding authorized user.
    No fee for first year.

  7. Dean says:

    Bonus is back to 50,000 points after $4,000 spend. Thank you for using my Link.

    https://applynow.chase.com/FlexAppWeb/renderApp.do?SPID=FHRJ&CELL=63HB&MSC=1514535597

  8. Jeff H says:

    I saw DoC is working on a much needed update for this review given some DPs linked are a few years old. Can somebody who has gotten this card more recently help Doc out and provide either good or denied reason Data Points?

  9. Pingback: Chase Ink Business Preferred Complete Review - 80,000 Point Bonus + 3x Points & More - Doctor Of Credit

  10. Pingback: Price Protection Policies Compared: Chase, Citi, Discover & MasterCard - Doctor Of Credit

  11. Pingback: Master List of Credit Cards with 4%/4x+ Rewards - Doctor Of Credit

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