Chase Sapphire Preferred: Top 5 Reader Questions
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The Chase Sapphire Preferred® Card is one of the Nerds' top travel credit cards. Its redemption flexibility, travel perks and massive sign-up bonus make it a reader favorite. But because plenty of great travel cards compete with the Chase Sapphire Preferred® Card, many consumers may still have questions about whether this is the best card for them. The Nerds have compiled the top questions we get about the Chase Sapphire Preferred® Card to help you make the right decision.
Q: Is the Chase Sapphire Preferred® Card accepted everywhere when you travel?
Purchases made with your Chase Sapphire Preferred® Card are processed through Visa. Because Visa is more widely accepted than American Express and Discover, you probably won't run into many problems trying to use your Visa card either domestically or internationally. The Chase Sapphire Preferred® Card also charges no foreign transaction fees and has an EMV chip for more security and wider acceptance overseas.
Q: Do the Chase Sapphire Preferred® Card bonus travel awards apply when I book through any vendor? For example, do I get 2X points if I book travel on Orbitz?
Chase Sapphire Preferred® Cardholders earn 2 points per dollar spent (on travel not booked through Chase) when using the card to pay for airfare, hotels, cruises, rental cars, train tickets, taxis, tolls and more. A Chase representative told the Nerds that travel discount sites like Orbitz are included in that definition.
Q: Can you apply for the Chase Sapphire Preferred® Card if you don't live in the U.S.?
According to Chase's site, the Chase Sapphire Preferred® Card is available only for people living in the United States, Puerto Rico, Guam and the Virgin Islands.
Q: Should I get the Chase Sapphire Preferred® Card or the Bank of America® Travel Rewards credit card?
When you're deciding between two credit cards, it's important to review each card's features and how they fit your needs. The Chase Sapphire Preferred® Card rewards cardholders early with a big sign-up bonus: Get up to $1,050 in Chase Travel℠ value. Earn 60,000 bonus points after $4,000 in purchases in your first 3 months from account opening. That’s worth $750 when redeemed through Chase Travel. Plus, get up to $300 in statement credits on Chase Travel purchases within your first year. The Bank of America® Travel Rewards credit card offers this bonus: 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases.
The Chase Sapphire Preferred® Card also offers great redemption options, and points are worth 25% more when redeemed for travel through Chase. If you spend a lot on travel, the Chase Sapphire Preferred® Card earns 5X points on travel booked through Chase and 2X bonus points on other travel purchases. The Bank of America® Travel Rewards credit card, however, offers a flat 1.5 points for every dollar you spend, making it a better choice if the bulk of your spending is non-travel-related.
The Bank of America® Travel Rewards credit card may appeal more to the frugal crowd with its $0 annual fee, compared with the Chase Sapphire Preferred® Card’s $95.
The biggest reason you might choose the Bank of America® Travel Rewards credit card is if you're a Bank of America Preferred Rewards® client. Depending on how much you have in Bank of America® banking accounts and/or Merrill investment accounts, you can earn up to 75% more points on your everyday purchases.
Check out our full review of the Bank of America® Travel Rewards credit card to learn more and to apply.
Q: Is the Capital One Venture Rewards Credit Card better than the Chase Sapphire Preferred® Card?
The Capital One Venture Rewards Credit Card’s biggest advantage is offering 2X miles on most purchases, giving it great long-term value. You can also earn a nice sign-up bonus: Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel. You can use your miles and/or cash to book travel on Capital One's travel platform. Its annual fee is comparable for a travel card at this tier: $95.
One thing to consider: While the Capital One Venture Rewards Credit Card has transfer partners, there are no U.S.-based airlines. The Chase Ultimate Rewards program, on the other hand, allows you to transfer to several U.S.-based airlines.
Both credit cards offer similar sign-up bonuses in terms of points, but the Chase Sapphire Preferred® Card’s bonus is more valuable because its points are worth 1.25 cents apiece when redeeming for travel, versus 1 cent per mile with the Capital One Venture Rewards Credit Card.
Check out our full review of the Capital One Venture Rewards Credit Card to learn more and to apply.
The takeaway: The Chase Sapphire Preferred® Card is the best travel credit card by most standards, but that doesn't mean it's right for everyone. Before applying for this or any other card, be sure to ask the right questions to make sure it fits your needs and lifestyle.
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