Thanks to the Chase Sapphire Preferred Card and its sky-high welcome offer, I’ve decided now is the right time to level up my credit card game. I’ve been waiting for an elevated welcome bonus from Chase for a while, so I jumped on this offer for a few different reasons, the biggest one being that I’ll finally be able to afford my next big overseas vacation.
Here’s why the Chase Sapphire Preferred will be my first annual fee credit card, and why it could be a good option for you.
The Chase Sapphire Preferred® Card packs a punch for a $95 annual fee card, offering annual travel credits, comprehensive travel protections and more.
- You can transfer rewards to all of Chase’s travel partners including World of Hyatt, Southwest Rapid Rewards and many more
- Long list of travel and shopping protections
- $50 annual Chase Travel hotel credit
- Has an annual fee
- Requires a high credit score
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select’s editorial staff.
- Earn 100,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
- Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠. For example, 60,000 points are worth $750 toward travel.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2027.
- Member FDIC
Balance transfer fee
Either $5 or 5% of the amount of each transfer, whichever is greater
Why the welcome bonus convinced me to sign up
I’ve always been curious about the Chase Sapphire Preferred Card, and this welcome bonus was the push I needed to apply.
The card’s incredible welcome bonus means you can earn 100,000 Chase Ultimate Rewards® points after you spend $5,000 on purchases in the first 3 months from account opening. Fortunately, I have to replace my laptop, so meeting the card’s spending minimum matches up perfectly with my planned purchases.
The 100,000 points available through the welcome offer are valued at one cent per point when redeemed as cashback and $1,250 when used to book travel through Chase Travel℠. But the true beauty of Ultimate Rewards points lies with Chase’s hotel and airline loyalty program partners — transferring points to one of these partners gets me the most bang for my buck, and that’s how I plan to spend most of the welcome bonus.
Pro tip: You can pair this card with a Chase bank account
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With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs.
How the Chase Sapphire Preferred Card will give me the trip of a lifetime
If you’re like me and have been using one of Chase’s no-annual-fee credit cards, there’s a good chance you’ve already collected some Ultimate Reward points. I have just over 100,000 Chase points currently, and when I qualify for the welcome bonus of an additional 100,000 points, I can combine them under my new Chase Sapphire Preferred Card. This will provide a big boost to the value of all my points when I use them with any of Chase’s 14 transfer partners and turn a dream vacation into reality.
All the transfers are a 1:1 points ratio, which is nice for keeping things simple. When it comes to hotel transfer partners, personally, I only intend to use Hyatt, as the value you get from IHG One Rewards and Marriott Bonvoy points is significantly lower. Plus, both of those brands use dynamic pricing, meaning the value may go up and down depending on the day you book.
I plan to use my collection of Chase points for travel, and while I don’t have an exact destination in mind yet, I’ve come up with a few options.
Japan
I’ve wanted to go to Japan for a while now, and using my Ultimate Reward points, I can book a flight with All Nippon Airways (ANA) through Virgin Atlantic. I can book a business-class round-trip seat from the East Coast of the United States to Japan for 120,000 points. And if I can convince a friend to fly halfway across the world with me, I could spend 130,000 points for two round-trip economy-class tickets.
In Tokyo, I found the Hyatt Hotel Toranomon Hills, which is an Award Category 7 hotel (the program has hotel categories from 1-9). The room will cost 30,000 points a night for standard stays, and with the room valued at $534, I’ll be getting about 1.7 cents per point.
United Kingdom
Being a European football fan, I’ve also wanted to return to the United Kingdom since my last visit to England almost 10 years ago. Hyatt is often a valuable Chase transfer partner, a big reason being that the hotel brand’s reward program still uses an award chart instead of dynamic pricing. When looking at some potential places to stay in London, I found the Hyatt Regency London Blackfriars, which is an Award Category 6 hotel. I can book a room here for 25,000 points a night, and with the standard cash rate being $468, that’s roughly 1.8 cents per point value.
Since Hyatt has fewer hotels than many of its competitors, if there’s not an option near my destination that jumps out to me, I’ll probably consider booking a room through Chase Travel and take advantage of that extra 25% increase in Chase Ultimate Rewards value.
How the little perks will save me money (and stress) on my trip
While they’re not the main draw of the card, some of the extra protections the Chase Sapphire Preferred Card offers might come in handy if I use it to travel as much as I have planned.
It offers trip cancellation and interruption insurance for up to $10,000 per covered traveler, as well as baggage delay insurance, which can cover up to $100 a day for up to 5 days to replace any essential items. I’ve lost my bag while traveling internationally before, and I definitely don’t want to repeat the experience without the benefit of insurance.
The card also comes with an annual statement credit of up to $50 for hotels booked through Chase Travel. While it probably won’t cover a whole night’s stay, it does make up for over half of the card’s $95 annual fee.
And as much as I try not to, I do let myself order delivery for dinner every now and then, and the card comes with a 12-month membership to both DoorDash and Caviar. While I don’t plan on ordering takeout during my trip abroad, some late-night burritos might be on the menu as I prepare for the vacation.
Final thoughts
If you’ve been collecting Ultimate Rewards points or have been looking for a good way to jump into the ecosystem, this limited-time offer is a great place to start. The welcome bonus is the highest it’s ever been, the card gives access to 14 potential transfer partners, and you can pool any additional Chase points you might have from other cards.
Whether the 100,000 point welcome bonus helps me get to Japan, England or somewhere else, the flexibility it provides should help me no matter where I land.
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