Should I Get a Chase Sapphire Preferred Before Transferring

If you're considering getting a Chase Sapphire Preferred before transferring your points, it's worth knowing that the card's annual fee is $95. This fee is waived for the first year, but you'll need to pay it annually after that.

The Chase Sapphire Preferred offers a 60,000-point bonus after spending $4,000 in the first 3 months, which can be a significant incentive. However, if you're planning to transfer your points, you might want to hold off on applying for the card until you've transferred your points.

The card's sign-up bonus is a great way to boost your points balance, but it's not the only factor to consider when deciding whether to get the Chase Sapphire Preferred.

The Chase Sapphire Preferred card has some fantastic benefits that make it a great choice for points collectors. The card earns valuable Ultimate Rewards points, has no foreign transaction fees, and offers primary rental car coverage for $95 per year.

One of the standout benefits is the 3x earning on dining, streaming services, and online grocery purchases, excluding Target, Walmart, and Wholesale Clubs. This means you'll earn triple points on these purchases, which can add up quickly.

You'll also earn 2x to 5x on travel, depending on the type of travel, and 1x on all other purchases. This is a great way to earn points on your daily expenses, like groceries and streaming services.

The card also comes with a 10% Anniversary point bonus, which is a nice surprise. Each year, you'll earn bonus points equal to 10% of your total spend, based on your cardmember year. This means if you spend $25,000 in a year, you'll get 2,500 bonus points, on top of your regular earnings.

Another benefit is the $50 Hotel Credit, which is given to you each cardmember year. You can use this credit to book hotels through Chase Ultimate Rewards, and the portion of the spend that's rebated won't earn Ultimate Rewards points.

Overall, the Chase Sapphire Preferred card's benefits make it a great choice for anyone looking to earn valuable points and rewards.

Chase has an unwritten rule that they generally won't issue a new credit card account once you have opened five or more card accounts across all banks in the last 24 months, known as the Chase 5/24 rule.

This can be a brick wall for those who get into credit card rewards, making it harder to open new Chase accounts.

Getting a Chase card, like the Sapphire Preferred, as one of your first cards can make sense to avoid this restriction.

The Chase Sapphire Preferred offers a range of redemption options that are hard to beat. You can redeem your rewards for nontravel options like cash back or statement credits at a rate of one cent per point.

One of the best things about the Sapphire Preferred is its flexibility when it comes to gift card redemptions. You can usually choose from at least 10 different gift card options that are 10% off with points.

For example, a $25 gift card may only set you back 2,250 points. Some $10 gift cards can be had for as low as 900 points.

The standard redemption rate of one cent per point for nontravel options is a big advantage over other rewards programs. This means you can get real value out of your points without sacrificing too much.

The annual fee of the Chase Sapphire Preferred is a mere $95, which is a minimal investment for trying out a new card for at least a year.

You can enjoy a $50 annual hotel credit for stays booked through Chase Travel, which can partially offset the annual fee.

The card also offers 10% of your points back each year, based on your card spending, which is a nice bonus.

This card is a great option for testing the waters, as the annual fee is relatively low and the perks can help make up for it.

The Chase Sapphire Preferred offers some fantastic travel benefits that can make your trips even more rewarding. One of the standout features is no foreign transaction fees, so you can travel abroad without worrying about extra charges.

You can also earn a $50 Hotel Credit each cardmember year, but there's a catch - it only applies to hotels booked through Chase Ultimate Rewards. And, if you had the card before August 15, 2021, you'll have to wait until your next account anniversary to start earning this credit.

Here are the details of the travel benefits you can expect from the Chase Sapphire Preferred:

The Chase Sapphire Preferred offers some amazing rewards rates on everyday spending. You can earn 5x points on travel booked through Chase Travel℠ and 5x points on Lyft rides (through March 31, 2025).

You'll also earn 3x points on dining, online grocery purchases (excluding Target, Walmart, and wholesale clubs), and select streaming services. These earning rates can add up quickly, especially if you use your card for regular expenses.

Here's a breakdown of the earning rates:

The Chase Sapphire Preferred card offers some amazing rewards rates on everyday spending. You can earn 5x points on travel booked through Chase Travel℠, which is a great way to rack up points on trips.

If you take an Uber or Lyft, you'll earn 5x points on Lyft rides through March 31, 2025. This is a fantastic perk for frequent ride-hailers.

Dining out and streaming your favorite shows can also earn you rewards. The card offers 3x points on dining, online grocery purchases (excluding Target, Walmart, and wholesale clubs), and select streaming services.

Other travel purchases, like flights and hotels, earn 2x points. This is a great way to earn points on your daily expenses.

The Chase Sapphire Preferred Card offers a variety of earning rates that can help you rack up points quickly.

You can earn 5X points for travel booked through Chase Travel℠, which is a great way to maximize your points earnings on travel-related purchases.

For other travel purchases, you can earn 2X points, making it a solid option for everyday travel expenses.

Dining out is another area where you can earn a nice bonus, with 3X points for every dollar spent on dining.

If you're a fan of streaming services, you can earn 3X points on select services, which can add up quickly if you have multiple subscriptions.

Lyft rides are also a great way to earn points, with 5X points for every dollar spent through March 2025.

And, as a nice bonus, you'll earn 10% more points each year, which can really help your points balance grow over time.

Here are the earning rates for the Chase Sapphire Preferred Card in a quick reference format:

Getting a Chase Sapphire Preferred before transferring your credit card balance can be a smart move, especially if you have high-interest debt.

The Chase Sapphire Preferred offers a 60-day 0% introductory APR on balance transfers, giving you time to pay off your debt without incurring interest charges.

You'll need to pay a balance transfer fee of either $5 or 5% of the transferred amount, whichever is greater, but this can be a worthwhile expense if it means saving money on interest.

The lifecycle of a decision is a crucial aspect to consider. It involves the stages of awareness, consideration, evaluation, and resolution.

Each stage has its own unique characteristics, but they all share the common goal of arriving at a final decision. The awareness stage is where individuals first become aware of the need to make a decision.

This stage is often triggered by a problem or an opportunity. For example, if you're considering a new job offer, you'll likely go through the awareness stage when you first receive the offer.

The consideration stage is where you weigh the pros and cons of each option. This stage is critical in the decision-making process, as it helps you narrow down your choices and make a more informed decision.

Research shows that taking the time to consider your options can lead to better outcomes. For instance, a study found that people who took longer to make a decision were more likely to choose the option that best suited their needs.

The evaluation stage is where you assess the quality of each option. This stage involves gathering information, seeking advice, and evaluating the potential risks and benefits of each choice.

A good decision-maker knows how to evaluate options effectively. They know how to identify the key factors that will impact their decision and how to weigh their importance.

Ultimately, the resolution stage is where you arrive at a final decision. This stage involves committing to your choice and taking action to implement it.

Making a decision is not a one-time event, but rather a continuous process. It involves ongoing evaluation and adjustment to ensure that your decision remains the best choice for your situation.

If you're considering canceling a credit card, think about whether you've got a better option elsewhere. The Sapphire Reserve or Ink Business Preferred can offer similar benefits, such as transferring points to airline and hotel programs.

Canceling a card might make sense if you've got a card with more benefits that fit your needs. For example, the Sapphire Preferred might be a better fit than the Sapphire Reserve for some people.

You should also consider whether you're getting the most out of your card's rewards and benefits. If you're not using them, it might be time to cancel and switch to a card that better suits your lifestyle.

If you're considering the Chase Sapphire Preferred, you should know about related cards that might offer similar benefits. The in-branch offer with $50 groceries and $0 AF is also up to 100K points.

Chase may match this offer if you're still meeting the SUB spend requirement. This means you could potentially earn even more points.

You should also consider whether the Chase Sapphire Preferred's benefits outweigh those of other cards.