Description: In this article, we can mainly see a review about the Chase Sapphire Reserve Preferred, including the features of the card, points and travel rewards people may get from using the card.
Today we are going to review the Chase Sapphire Preferred, this card used to be chases premier card for earning travel rewards obviously apart from the JPMorgan Palladium card, but that’s only available to people with several hundred thousand dollars in the bank.
For most people, this was Chase’s top card, it’s made of metal, it’s very swanky, but that was until this summer, when the Chase Sapphire reserve was released which is one of the hottest new credit cards on the market this year.
We’re going to have a look at this card, the Chase Sapphire Preferred introduced some of its features, the main part of this review will be comparing it to the sapphire reserve and asking the question. Is it still worth it? Which card is more suitable for it?
The Chase Sapphire Preferred and two points per for every dollar spent on travel and dining these our chase Ultimate Rewards points that are transferable to 11 transfer partners including British Airways United and also some hotel chains.
There are 11 in total, it earns one point per dollar on everything else, there’s a ninety five dollar annual fee and a sign-up bonus of fifty thousand points, that’s the current offer at this time, although it does change from time to time.
But currently at the filming of this video, is fifty thousand now that sign-up bonus is worth six hundred dollars, when you booked through Chase’s own system, if you consider the annual fee of ninety five dollars which is waived for the first year that six hundred dollars would cover the first seven years of annual fees.
That’s no small thing, they are like similar cards in this range, this card has no foreign transaction fees, so it’s aimed at travelers, what I like about this card is that you can accumulate in addition to the sign-up bonus, you can accumulate a lot of miles quite quickly, because you’re getting double points on travel and dining.
If you combine it with the Chase Freedom Card which earns five points per dollar on rotating quarterly categories, you can earn a lot of points very quickly at the freedom, points can be transferred over to the Chase Sapphire Preferred.
You can do the same with the freedom unlimited credit card which gets one point five points per dollar on everything, so it is a great card, it used to be a nine, number one go-to card for accumulating miles, but obviously the Chase Sapphire reserve has come out.
When Apple released the iPhone which rendered the iPod, because who would carry around an iPod and a phone where you can have an iPod in your phone and that’s what the Chase Sapphire Reserve is.
It does everything that Chase Sapphire Preferred did, but it earns three points per dollar on travel and dining, it gets you access to airport lounges and these are the same ultimate reward points that the Chase Sapphire Preferred earns.
It does this for a four hundred and fifty dollar annual fee, but that is offset by a three hundred dollar annual travel credit, so you’re reimbursed for any travel including Subway’s ubers air tickets anything.
It’s very broad, it doesn’t include gas though, but it’s any public transport or private transport where other people are driving you, so you get three hundred dollars back, if you spend at least three hundred dollars a year on travel, so that brings the annual fee down to one hundred and fifty dollars right 450 – three hundred.
The Chase Sapphire reserve ends up only being fifty five dollars more expensive per year than the Chase Sapphire Preferred, so if you’re able to get the reserve, it’s a no-brainer, go for the reserve instead of the preferred.
However, not everyone will necessarily be able to be approved for the reserve the minimum credit limit on, the reserve is ten thousand dollars, the minimum credit limit on the preferred is five thousand dollars.
If you don’t have many credit lines on your credit report, perhaps your credit score isn’t that high and if you don’t have any other cards with ten thousand dollar, limits chase may refuse you for the reserve.
I applied with some other cards that each had $10,000, so I had around $25,000 worth of credit, I had a credit score in the mid 7os, I did have quite a short credit history of only one year, when I got this card, but you can see all the other factors, I’ve heard people in the upper six hundreds getting approved, but they probably had quite much longer credit histories.
I assume I had other cards with several tens of thousands of dollars worth credit before they approve of this card, so if you’re not able to get a reserve, go for the preferred, it’s a great card and the points from the preferred can be transferred over to the reserve.
If you are able to get it later on and you get sign-up bonuses from two cuts that way, it’s an absolutely great card. I would recommend it for people who can’t get approved for the reserve, but if a credit score is in your credit history and everything is good enough to get approved for the reserve.