Chase Sapphire Preferred® Card

Earn 3x on Dining, Streaming Services, and Online Grocery (excluding Target, Walmart, and Wholesale Clubs).
Earn 5x on Travel Booked through Chase’s Travel Portal
Earn 5x on Lyft (through March 2025)
Earn 2x on all other travel
Earn 1x on all other purchases

Other Features

Redeem Points for 25% More Value: Points are worth 1.25 cents each when used to book travel through the Chase Travel portal.

Transfer Points to Partners: Points can be transferred one to one to a number of airline and hotel loyalty programs.

No foreign transaction fees

$50 Hotel Credit: Each cardmember year, earn $50 back on hotels booked through Chase Travel.  The portion of this spend that is rebated will not earn Chase Travel points.  

Auto Rental Coverage: Chase offers primary auto rental CDW (collision damage waiver). Here’s the description directly from Chase: “Decline the rental company’s collision insurance and charge the entire rental cost to your card. Coverage is primary and provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most rental cars in the U.S. and abroad.”

Trip Cancellation / Interruption Insurance: “If your trip is canceled or cut short by sickness, severe weather and other covered situations, you can be reimbursed up to $10,000 per person and $20,000 per trip for your pre-paid, non-refundable travel expenses, including passenger fares, tours, and hotels.”

Trip Delay Reimbursement: “If your common carrier travel is delayed more than 12 hours or requires an overnight stay, you and your family are covered for unreimbursed expenses, such as meals and lodging, up to $500 per ticket.”

Lost Luggage: Reimburses for costs incurred to repair or replace checked or carry-on bags and property within if loss or damage occurs during a covered trip.  Coverage is up to $3,000 per person per trip (or up to $500 for jewelry, watches, cameras, video recorders, and other electronic equipment).

Baggage Delay Insurance: “Reimburses you for essential purchases like toiletries and clothing for baggage delays over 6 hours by passenger carrier up to $100 a day for 5 days.

Travel Accident Insurance: When you pay for your air, bus, train or cruise transportation with your card, you are eligible to receive accidental death or dismemberment coverage of up to $500,000

The card is a great choice for its welcome bonus and to unlock the ability to transfer Chase Travel points to travel partners.  You can do well by using this card plus various fee-free Ultimate Rewards cards to earn 3X to 5X in various categories of spend and then move those points to the Sapphire Preferred so that you can then transfer the points to airline and hotel programs.