Chase Sapphire Preferred Credit Card Review – 40,000 Bonus Points

by Sean Bryant on August 21, 2012

The Chase Sapphire Preferred card is one of the best rewards credit cards that you can get right now. The big incentive is the 40,000 bonus points that you get when you spend $3,000 within the first three month.  The 40,000 points is equal to $500 in travel rewards.  To be able to be accepted for this card you will need to have a good or excellent credit score.

You will earn two points for each dollar spent on airfare or on food at restaurants.  For all other purchases you will receive one point per dollar spent.  One of the nice benefits to the Chase Sapphire Preferred card is that you can get 20% off airfare, hotels, car rentals or cruises when you redeem your points through Chase Ultimate Rewards.  On top of that you will also earn a 7% annual dividend on new points earned from purchases.

If you are going to be traveling abroad, you will benefit from having no foreign transaction fees.  You can also transfer your points, at a 1:1 value, with most major frequent flyer programs.  They will waive the $95 annual fee for the first year.

Highlights of the Chase Sapphire Preferred Card

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Sean Bryant

Sean Bryant created OneSmartDollar.com in 2011 to help pass along his knowledge of finance and economics to others. After graduating from the University of Iowa with a degree in economics he worked as a construction superintendent before jumping into the world of finance. Sean has worked on the trade desk for a commodities brokerage firm, he was a project manager for an investment research company and was a CDO analyst at a big bank. That being said he brings a good understanding of the finance field to the One Smart Dollar community. When not working Sean and he wife are avid world travelers. He enjoys spending time with his daughter Colette and dog Charlie.
  • AverageJoe

    I did a review of this card for a client about a year ago and you’re right: it’s very difficult to find a better credit card, especially for people who travel.

  • Jason @ WorkSaveLive

    I signed up for my Chase Sapphire card a few weeks ago and have already racked up over $3500 in expenses (which has already been paid off). I can’t wait to get my bonus points and spend that money on a new washer and dryer! Thanks Chase!

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