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- Although Cheryl Lock had a cash-back credit card, she wanted a card that earns travel rewards.
- After trying and considering other cards, she made her choice: the Chase Sapphire Preferred® Card.
- She needed a flexible card and likes the Sapphire Preferred’s benefits and generous welcome bonus.
- Read Insider’s guide to the best travel rewards credit cards.
About five years ago I started wondering if I was taking advantage of credit card rewards the way I should be.
At the time, I was earning limited cash back on a Chase credit card I no longer remember, which was intoxicating, sure, but I couldn’t help but wonder what else might be out there.
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It was only a few years before my credit card rewards revelation that I had discovered my love for travel, as well. Without credit card rewards on my side, I needed to dig deep into my savings reserves in order to pay for my (necessary, in my mind) trips to Hawaii, London, Italy, and so on and so forth.
Read more: Chase Sapphire Preferred card review
Staying with friends in these places helped curb the costs, but still, these trips were adding up, and as a very low-paid intern living in Manhattan, money was scarce.
Annual Fee
$95
Regular APR
15.99%-22.99% Variable
Credit Score
Good to Excellent
A five pointed star
A five pointed star
A five pointed star
A five pointed star
Editor’s Rating
Annual Fee
$95
Regular APR
15.99%-22.99% Variable
Credit Score
Good to Excellent
A five pointed star
A five pointed star
A five pointed star
A five pointed star
Editor’s Rating
Featured Reward
100,000 points
Pros
- High sign-up bonus starts you off with lots of points
- Strong travel coverage
Cons
- Doesn’t offer a Global Entry/TSA PreCheck application fee credit
- Best offer ever! Earn 100,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $1,250 when you redeem through Chase Ultimate Rewards®.
- Earn 2X points on dining including eligible delivery services, takeout and dining out and travel. Plus, earn 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 100,000 points are worth $1,250 toward travel.
- With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
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- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.
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Thus began my search for a credit card that would help me fund my travel habit and still allow me to cover my other necessities, like food.
I started with the Capital One Venture Rewards Credit Card
, mostly because those commercials were so alluring. This card did me proud, helping me to cover a number of adventures including a cruise in the Bahamas and a trip to Iceland, but soon I was lured away by a mailer (I was very affected by advertising during this period, apparently) to the Discover it® Miles.
My strategy at this point was to essentially try on a couple of different cards until I found the one I liked the best … credit score be damned. (Don’t worry — since seeing the error in my ways, my score has made a full recovery!)
After a few years of moving from card to card — cards that offered a 0% APR for a limited time on purchases or balance transfers were of great interest to me, as well — I realized that jumping from card to card probably wasn’t the best strategy. It was a lot of work to keep track of so many different cards and balances and to make sure I was paying for everything on time. So I did a little research and settled on the Chase Sapphire Preferred® Card.
Here are the main reasons why:
I’m a ‘sticky’ customer
I had never heard the term “sticky” in reference to banking until a few years ago while sitting in on an intro session at a new job with a personal finance site. Calling a customer “sticky” in the banking world refers to customers who have multiple accounts with one bank.
Whether it’s actually because of superior products or simply a lack of willingness to search elsewhere, sticky customers are more likely to open new accounts at the same bank they’ve always had than find new places to bank with.
While I have tried out products at other institutions, I do find that I usually end up back at Chase. Logging on and seeing all of my information in one place is definitely something I appreciate, and I can often negotiate with them if I need to since I’m a loyal customer.
I wanted a card that was flexible
I’ve researched other credit card opportunities — I was particularly interested in the Southwest Rapid Rewards® Plus Credit Cardsince we’re fairly loyal to that airline (thank you, no change fees!) — but I ultimately wanted a product that wouldn’t leave me feeling guilty if, for whatever reason, we didn’t end up booking with the same company over and over again.
I like what I get
I might have originally been drawn to the Chase Sapphire Preferred® Card because it was a Chase product, but what I ultimately get with the card is pretty amazing, as well. After spending $4,000 on purchases in the first three months after opening it — easy for a family of four — you earn 100,000 points, worth $1,250 toward travel when you redeem points through Chase Ultimate Rewards.
I like the travel perks — like 2x the points on airfare, hotel, and transportation purchases — but I also like that we earn 2x the points on restaurants and 1 point per dollar spent on other purchases. There is a $95 annual fee for the card (which is the only thing I don’t actually like about it) but so far the points that we’ve earned have far and away covered that fee.
Back in the day my travel goals mostly consisted of visiting places that intrigued me, but these days, as a mom with two kids who lives far from family, most of our points go directly into purchasing plane tickets back home for various occasions.
Those trips definitely add up when you’re paying for four people, but I would never want to skip them, so I’m grateful that the Chase Sapphire Preferred® Card helps us cover them.
Cheryl Lock is a personal-finance writer whose work has appeared in Woman’s Day and Parents as well as online at USA Today, Forbes, and MarketWatch. She lives in Denver with her husband and two daughters. Follow her on Twitter…
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Editor’s Rating
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100,000 points
Good to Excellent
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A five pointed star
A five pointed star
A five pointed star
Editor’s Rating
A five pointed star
A five pointed star
A five pointed star
A five pointed star
Editor’s Rating
A five pointed star
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Editor’s Rating
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