Chase Sapphire Review

sapphire_preferred_visaChase Sapphire is a rewards credit card perfectly suited to frequent travelers. Dining and travel transactions earn double points (and includes purchases for Uber and Lyft services) plus all card holders earn a 20% discount on travel booked through the Chase Ultimate Rewards website. All other qualifying purchases earn one point per dollar spent.

Chase Sapphire has recently increased its signup bonus. New members can receive 50,000 bonus points after spending a minimum of $4,000 during the first three months that your account is active. These bonus points add up to $625 of travel rewards when redeemed through Chase Ultimate Rewards. Balance transfers, cash advances, charges for traveler’s checks, foreign currency, or money orders do not qualify as purchases. It may take 6-8 weeks for the bonus points to post to your account.

Important: This signup bonus is available to new account holders only. Current members (including anyone who has received a cardmember bonus for this card in the past 12 months) are not eligible.

New account holders also have the opportunity to earn an additional 5,000 bonus points. To qualify, you need only make a qualifying purchase on the card and add an authorized user to your account during the first three months that your account is open. Again, the same standards apply to qualifying transactions- balance transfers or cash advances and cash-like charges (traveler’s checks, foreign currency, or money orders) will not count as purchases.

At this time, there is no introductory annual percentage rate offer on either purchases or balance transfers. The APR on purchases is a variable 15.99%. This rate also applies to balance transfers. There is a balance transfer fee of $5 or 5% of the total amount of each transfer (whichever is greater) applied to all completed balance transfers.

Members earn points at the following rates with Chase Sapphire:

  • 2X points on travel-related expenditures
  • 2X points on dining at restaurants
  • 1X point on all other net purchases (excluding credits and returns)

Chase Sapphire has expanded the travel category to include transactions for Uber and Lyft as well as expenditures for monthly parking and certain forms of public transportation. Points do not expire as long as your account is active and in good standing.

Unlike many rewards cards which have limited redemption options, Chase Sapphire gives members numerous choices when redeeming points. These include hotel stays, airline tickets, car rentals, merchandise, and gift cards. On top of this, card holders receive a 20% discount on airfare, car rentals, hotels, and cruises when you redeem your points through the Chase Ultimate Rewards website.

Chase also has one of the best partner programs in the industry. Many of its rewards programs allow 1:1 point transfers meaning that 1,000 Ultimate Rewards points will equal 1,000 partner miles or points. Here are just some of the partner programs available with Chase Sapphire:

Airlines

  • British Airways
  • Korean Air
  • Singapore Airlines
  • Southwest Airlines
  • United Airlines
  • Virgin Atlantic

Hotels

  • Hyatt Gold Passport
  • IHG
  • Marriott Rewards
  • Ritz-Carlton Rewards

Points must be transferred in 1,000 point increments. Please note that all point transfers are final. You should carefully consider this before selecting your point redemption option.

Another great benefit when booking airline tickets is that there are no blackout dates or restrictions imposed. As long as there is available seating on your chosen flight, you can book it through Chase Ultimate Rewards.

Chase Sapphire does not charge members a foreign transaction fee on purchases made outside of the U.S. Additionally, the card comes with EMV chip technology for enhanced security.

There is an annual fee of $95 which is waived for the first year of membership.

The Facts

Below we have broken down the facts of Chase Sapphire to help you determine if it’s a good choice for you.

The Good:

Generous signup bonus:

The 50,000 bonus points now offered with Chase Sapphire is one of the best signup bonuses in the competitive rewards credit card market. To qualify, new account holders must have at least $4,000 in qualifying transactions during the first three months that the card is active. Balance transfers, cash advances, and any cash-like charges (foreign currency, money orders, or traveler’s checks) do not count as purchases. The 50,000 bonus points offer is worth $625 in travel rewards when redeemed through Chase Ultimate Rewards.

Additional bonus points offer:

New card members have the opportunity to earn an additional 5,000 bonus points. To be eligible for this offer, you must make a purchase and add an authorized user within the first three months that your account is active.

Note: Both of these offers are only available to new account holders. Current and former card members are not eligible. For those who qualify, it may take 6-8 weeks for the bonus points to post to your account.

Solid rewards program:

Members earn points at the following rates:

  • 2X points on travel-related expenditures (including Uber and Lyft)
  • 2X points on dining at restaurants
  • 1X point on all other net purchases (excluding credits and returns)

These points can be used for anything through the Chase Ultimate Rewards website but keep in mind that points used for travel-related redemptions always get a 20% discount. As an example, a $500 airline ticket only requires 40,000 points. That’s a savings of $100.

Flexible redemption options:

Many rewards credit cards have limited options when it comes to redeeming points. But Chase Sapphire gives you multiple ways to redeem points. Some of these are:

  • Hotels
  • Airline tickets
  • Car rentals
  • Cruises
  • Merchandise
  • Gift cards

Again, members receive a 20% discount off airfares, hotels, cruises, and car rentals when redeemed through the Chase Ultimate Rewards website.

1:1 Point transfer to Frequent Travel programs:

Card holders can transfer points on a 1:1 basis to many hotel and airline rewards programs. These include:

Airlines

  • British Airways
  • Korean Air
  • Singapore Airlines
  • Southwest Airlines
  • United Airlines
  • Virgin Atlantic

Hotels

  • Hyatt Gold Passport
  • IHG
  • Marriott Rewards
  • Ritz-Carlton Rewards

Note: All point transfers are final.

No foreign transaction fees:

This can result in significant savings for frequent international travelers.

EMV chip technology:

This feature provides enhanced security when making transactions with a chip-based terminal.

The Bad:

Annual fee:

This card has an annual fee of $95 which is waived for the first year.

The Ugly:

Harder to qualify:

Chase Sapphire generally requires a very good to excellent credit score (FICO740+) so not everyone who applies will be approved.