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|Card / Notes||Bonus / Annual Fee|
|Chase Sapphire Preferred Card|
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Earning rate: 2X Travel and Dining
Noteworthy Perks: Primary auto rental collision damage waiver
See also: Transferable points programs
|55K: 50K after $4K spend in 3 months + 5K for adding authorized user
Annual fee waived first year, then $95
Note: This card is known to be subject to Chase's 5/24 rule.
Recent better offer: 65K: 60K after $4K spend in 3 months + 5K for adding authorized user
FM Mini Review: Great signup bonus. This may be the single best "starter card" for those eager to get into miles & points.
Prior to the release of the Chase Sapphire Reserve card, the Sapphire Preferred card was one of my favorite travel cards. The card offers 2 points per dollar for all travel & dining purchases, no foreign transaction fees, and primary rental car coverage for only $95 per year.
For an effective rate of only $55 more, you can get the Sapphire Reserve card instead. The Sapphire Reserve card offers 3 points per dollar for travel & dining, better redemption value, lounge access, and more. The only real advantage of the Sapphire Preferred is the lower annual fee and the fact that authorized user cards are free (the Sapphire Reserve charges $75 for each authorized user).
With the Sapphire Preferred Card, Ultimate Rewards points can be redeemed as follows:
- Cash or merchandise (1 cent per point value)
- Purchase Travel through the Chase Ultimate Rewards travel site (1.25 cents per point value)
- Purchase Travel after moving points to the Chase Sapphire Reserve card (1.5 cents per point value)
- Transferred to a variety of airline and hotel programs (per point value varies from very low to extremely high when points are used this way)
All of the following cards earn Ultimate Rewards points. Those marked with an asterisk are premium cards that allow points to be transferred to select airline and hotel loyalty programs. The others are advertised as cash back cards, but they really earn Ultimate Rewards points. You can move those points to loyalty programs indirectly by moving them first to a premium card and then to an airline or hotel program:
- Chase Sapphire Reserve
- Chase Sapphire Preferred*
- Chase Freedom
- Chase Freedom Unlimited
- Chase Ink Cash
- Chase Ink Business Preferred*
- Chase Ink Plus*
* Premium card. Points can be transferred to select airline and hotel loyalty programs.
- Chase point transfer rules made simple [Infographic]
- The Sapphire Reserve Couple Conundrum
- Ultimate Rewards 5X Everywhere (almost)
- Membership Rewards vs. Ultimate Rewards vs. ThankYou Rewards. Which is best?
Note: Many more excellent credit card offers, along with application tips for each bank, can be found on our Best Credit Card Offers Page.