Chase Sapphire Preferred credit card, a must-have credit card.
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You're an aspiring road warrior. You're starting to hit the road more and more for work and pleasure. The Chase Sapphire Preferred (CSP) is your must-have credit card.

The Chase Sapphire Preferred not only has the flexibility of great rewards, it also has one of the sweetest sign up bonuses available. 50,000 bonus points is their best public offer and it's available now.

There was a time when the CSP's annual fee was $125 per year. However thanks to fierce competition, they have since lowered the annual fee to $95 per year. Don't let that discourage you because the annual fee is waived your first year!
CSP lets you rack up Chase Ultimate Rewards points, which are truly valuable. And there are many ways to redeem them.


 

  • Redeeming Chase Ultimate Rewards points

Cashing out. Let's start by talking about how you shouldn't redeem your points. Once you start racking up Ultimate Reward Points, you'll see email after email telling you to turn them into cash, depositing them directly to your savings or checking account. This method values each Ultimate Reward point at just one penny. Trust me, the value of the point is far more than penny! Don't give into the temptation!

Booking Travel. Chase's travel channel mini-site allows you to use your Ultimate Reward points to book flights, hotels, and other travel packages. Just by poking around on this site you'll see that your points have a value of at least 1.25 cents per point! This means the 50,000 points you earned after fulfilling the sign-up bonus can be used for $625 worth of travel! What's more, if you have other Chase Ultimate Rewards cards (like Freedom card or Freedom Unlimited card), you can transfer your points from those cards to CSP, and all your points value will immediately increase from 1 cent to 1.25 cents! Sounds great? It's definitely good, but not the best way to redeem!

The best method. The way I prefer to redeem my Ultimate Reward points into travel is to redeem them for partner frequent travel programs. Chase partners include:

 
Airlines Hotels
British Airways Executive Club
Flying Blue AIR FRANCE KLM
Korean Air SKYPASS
Singapore Airlines KrisFlyer
Southwest Airlines Rapid Rewards®
United MileagePlus®
Virgin Atlantic Flying Club
Hyatt Gold Passport®
IHG® Rewards Club
Marriott Rewards®
The Ritz-Carlton Rewards®
 
 
And if you know how to use airline miles well, transferring your Ultimate Rewards points into miles will increase their value dramatically! Just as an example: 25,000 miles (through United Airlines MileagePlus program) is enough for booking flights from Los Angeles to New York City. I've broken out prices in the table below. And since 1 Ultimate Rewards point = 1 United mile, the value of the points can be raised up to 2.54 cents/point! Far more valuable than 1.25 cents. This gives you incredible savings for purchasing airfare!

 
Departure Date Price Mileage Price Point Value
21 days later $361.4 25,000 miles + $11.2 1.40 cents
Within 21 days $721.4 25,000 miles + $86.2 2.54 cents
 
  • Accumulating Chase Ultimate Rewards points

My friends often ask, after the sign up bonus, how can I earn more points?
CSP provides 2X points on travel & dining at restaurants worldwide and 1 point per dollar spent on all other purchases. This is quite generous and works out to 2.5% back on dining.

As a travel card, CSP also offers no foreign transaction fees for cardholders, making it super friendly for traveling abroad.

If you have more than one year credit history and a credit score above 680, CSP is the  best travel card! See if you qualify here!

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