Ranking the Chase Sapphire Preferred Card
Rewards Program (30 points)
• Points, Miles, or Cash Back Rates (15 points):
The Chase Sapphire Preferred earns 5x points on travel booked through Chase Ultimate Rewards, 3x points on dining, 2x on other travel, and 1x on everything else, which qualifies for 15 points.
• Redemption Flexibility (10 points):
Chase Ultimate Rewards offers multiple redemption options, including travel, statement credits, cash back, and transfer to partners at favorable rates, earning it 10 points for flexibility.
• Rewards Expiration and Transfer Options (5 points):
Points never expire, and there are 13 transfer partners, adding up to 5 points.
Total: 30/30
Welcome Offer (20 points)
Value (15 points):
The card currently offers a 60,000-point welcome offer, worth around $750 toward travel, with a spending requirement of $4,000 in the first three months, earning 15 points.
• Ease of Earning (5 points):
The spending threshold is moderate, earning 3 points.
Total: 18/20
Fees (10 points)
• Annual Fee (6 points):
The card has a $95 annual fee, earning 4 points.
• Foreign Transaction Fees (4 points):
There are no foreign transaction fees, adding 4 points.
Total: 8/10
APR and Financing Options (15 points)
• Introductory APR (5 points):
There is no 0% APR introductory offer, so 0 points are awarded here.
• Standard APR (5 points):
The standard APR is 21.24%-28.24%, which is high, resulting in 0 points.
• Balance Transfer Options (5 points):
Balance transfers incur a fee of 5%, so the card earns 0 points.
Total: 0/15
Cardholder Benefits (15 points)
• Travel Benefits (5 points):
The card offers moderate travel benefits, including trip cancellation/interruption insurance, primary rental car insurance, and no foreign transaction fees, earning 5 points.
• Purchase Protection and Insurance (5 points):
The card provides extensive purchase protection and extended warranties, adding 5 points.
• Other Perks (5 points):
Perks include exclusive offers and purchase protections, earning 4 points.
Total: 14/15
Subjective Prestige (10 points)
• Perceived Status and Exclusivity (10 points):
The Chase Sapphire Preferred has moderate prestige, requiring a good credit score and recognized for its value, earning 7 points.
Total: 7/10
Final Score: 77/100
Recommendation: Recommended with reservations
The Chase Sapphire Preferred is a strong card for frequent travelers, offering valuable rewards and flexibility, but it lacks in areas like introductory APR and balance transfer benefits. It remains a good fit for those focused on travel and dining rewards