Bottom Line

If it weren't for the Reserve, the Preferred would be one of our favorite cards. Chase only allows customers to have one card or the other — so if you can only choose one, go for the Reserve (if you qualify for it). But if your spouse already has the Reserve -- or if you think you'll get at least 2 referrals in a year -- than the Preferred might be the better card of the two. The takeaway is that everyone in the points game should have either the Reserve or the Preferred. Many sites rank the Sapphire Preferred above the Reserve. We disagree. And we believe the reason those sites try to steer you away from the Reserve card is simple: They get paid on the Preferred card referrals and not the Reserve card referrals. Here is an article that breaks down which is best for you and why >

Why You Might Want This Card

If You Don't Qualify For The Reserve Card, This Is A Super Consolation

Think of the Sapphire Preferred as the younger sibling to the Reserve card. It has a lot of the same benefits including car rental insurance, travel insurance, cell phone protection, road side assistance and extended warranty. The spending multipliers are respectable at 2 x for airlines, travel and hotels (vs. 3x for the Reserve). The sign-up bonus is better-than-average but the flexibility of the rewards - exceptional. The sign-up offer has increased over the years which is great because you can now transfer points to 13 hotel and airline partners at a 1-to-1 ratio. And if you use your reward points for this card on the Chase Travel Portal, each of your points gets a 25% boost (if your partner or spouse has the Sapphire Reserve card, the boost in your point value becomes 50%) This card is for travelers who can't qualify for the Reserve -- or who are strategizing with a partner to get both the Sapphire Reserve and the Sapphire Preferred.

The one thing that can make the Preferred more attractive than the Reserve is you can get 60,000 points a year in referrals (10,000 per referral). So if you regularly refer people, or have a lot of people you have referred to the Points Navigator, this could be the better option for you. It is of course our philosophy to always refer the card that is best for a person, not the one with the referral payment.

This card will count toward the 5/24 rule. But if you don't have it (or don't qualify for the Sapphire Reserve), it really is a no-brainer to add. The sign-up bonus is generous, the 2x points earning category is liberal, the redemption is easy and versatile. This is a great starter card -- or even for points and miles experts -- it's great to revisit this card. Something to remember though, is you cannot hold this card and the Chase Reserve at the same time anymore, so if you are torn between the two make sure you are decided on which one before you apply. Our suggestion is that if you have a spouse or partner -- one of you should get the Reseve, and the other the Preferred.

Check out our Chase Ultimate Rewards page for more details on how to best use Chase Points.

Exceptions To The Rule

About Chase Ultimate Rewards

Chase Ultimate Rewards are aptly named -- as they are the “gold standard” of points. But most people barely scratch the surface in redeeming these points. Here’s what makes them so valuable:

1. Accumulating points is relatively easy with the variety of cards Chase offers, especially their business cards.
2. The points are worth a lot... if you have the Reserve Card (why you should). Your points are worth a minimum of 1.5 cents each, and often more with transfer partners.
3. Chase has the best values in transfer partners, with Hyatt, United, and Southwest being the top three.
4. Chase points are easy to use. The Ultimate Rewards portal is intuitively built for booking travel directly through their portal with points. Or easily transferring those points to partners.
5. You can transfer your points with your partner, so long as you share the same address.

The key to maximizing value, though, is how you use those points. Think of Chase Ultimate Rewards as your most easily convertible points. And all other point systems are great, but not nearly as flexible.

How does that affect you in practical terms? If Chase is your hub, you and your partner should also get the Hyatt card, United card, and Southwest card(s) over a year. Let’s say you and your partner have two Chase cards, plus one of each of the other cards. Here is an example of how you can use them:

• Trip One:
  • On Hyatt’s site, use 60,000 Hyatt points topped off with a 20,000 Chase point transfer for 4 nights at the all-inclusive at Zilarra Cancun.
  • On Southwest’s site, book two flights to Cancun free using your Southwest Points (topped of with a Chase points transfer as needed)
• Trip Two:
  • On United’s site, book two round trip tickets to any European city for 60,000 United miles each, top off with Chase Points as needed
  • Book hotels on Hyatt’s site using additional Chase transfers as needed. Since you can transfer between Partners, they can be either person’s account to start.

That is just a pair of examples, but it’s a very real scenario. Most people are happy to just use the points to book a free flight or two through the portal. The reality is you can make entire vacations nearly free.

Amex and Citi have similar systems, but the points are more limited in how many you can earn. Also, the value of the transfer partners and the quality of their portals isn’t as good. That’s not to say you shouldn’t be happy when you find those points. We’re just saying all else being equal, we’ll take (or save on using) Chase Ultimate Rewards Points over any other point system.

It’s also worth noting you can’t transfer points back from partners, so never transfer until the actual time of booking. The transfers are usually instantaneous (you might have to log out and log back in to the partner site).

Where Chase Sapphire Preferred Fits In This Point Ecosystem

Personal Experience