Chase Sapphire Preferred | Worth the Hype? | Summary and Q&A

TL;DR

The Chase Sapphire Preferred credit card offers updated benefits, including bonus points, and is still worth considering in 2023.

Key Insights

• 💳 The Chase Sapphire Preferred credit card offers competitive benefits for an entry-level travel card.
• 😥 The addition of 80,000 welcome bonus points makes the card even more attractive.
• 😥 Transferring points to partner programs, such as Hyatt, can significantly increase their value.
• 💳 Consideration should be given to the credit approval requirements before applying for the card.
• 🎴 The Chase Sapphire Preferred is a versatile card with options to downgrade or cancel if needed.
• 🥺 Utilizing the Ultimate Rewards portal and partner programs can lead to significant savings on travel expenses.
• 📏 The 5/24 rule and the 48-month bonus eligibility rule are important considerations for potential applicants.

Transcript

so here in my hand is the Chase Sapphire preferred and it's what I've considered to be one of the best entry-level traffic credit cards and just about a week ago Chase announced that the sapphire preferred was getting a limited time bonus offer for 80 000 points but it looks like it's finally coming to an end so in this video we're going to be goin... Read More

Questions & Answers

Q: What are the updated benefits of the Chase Sapphire Preferred credit card?

The card offers 5x points on travel, 3x points on dining and select streaming services, and a $50 statement credit for hotel stays purchased through the portal.

Q: Is the Chase Sapphire Preferred worth applying for in 2023?

Yes, the card still offers a competitive welcome bonus of 80,000 points and valuable benefits, making it worth considering.

Q: How can I maximize the value of the 80,000 welcome bonus points?

You can transfer the points to partner programs, such as Hyatt, for higher redemption rates or use them to book hotel stays through the Ultimate Rewards portal for extra value.

Q: What are the credit approval requirements for the Chase Sapphire Preferred?

Currently, a credit score of at least 680, ideally in the 700s, is recommended for the best chances of approval.

Summary & Key Takeaways

• The Chase Sapphire Preferred credit card offers 5x points on travel purchased through the Chase Ultimate Rewards portal, 2x points on other travel purchases, 3x points on dining, 3x points on select streaming services, and 1x point on all other purchases.

• The card now includes additional perks such as earning a $50 statement credit for hotel stays purchased through the portal.

• The Chase Sapphire Preferred is considered one of the best entry-level travel credit cards with its lower annual fee and comparable benefits to higher-tier cards.