The One Credit Card You Must Own for the Best Travel Rewards Points

Reward Yourself

The holidays will be here before you know it. If you’re planning to travel a lot, you might as well book your hotel and flight reservations with a credit card that pays you back. That’s where the Chase Sapphire Preferred Card  comes in. We’ll give you the rundown on all the nifty perks this credit card has to offer.

In the future, we’ll also be giving you all the information you need about choosing the best rewards programs. Check back for more articles and tips so that you can keep more cash in your wallet.


Generous bonus points

If you spend $4,000 within the first three months of opening your account, you will earn 40,000 bonus points. Chase says this is the equivalent to $500 in travel rewards after redemption through Chase Ultimate Rewards. And who couldn’t use $500? The bonuses don’t stop there, either. If you add an authorized user and make a purchase during the first three months, you get an additional 5,000 points.

No foreign transaction fees:

Go ahead and take that trip to France. If you’re a frequent international traveler, you’ll be delighted by the fact that the Chase Sapphire Preferred Card has no foreign transaction fees.

Travel discounts:

This card also features travel discounts. You’ll be able to get 20% off travel when you redeem your points for airfare, car rentals, cruises, and hotel stays when you use Chase Ultimate Rewards.


Point transfers:

If you rack up a lot of points, have no worries. You’ll be happy to know that you can still use them elsewhere. You can transfer points to other frequent travel programs that participate with Chase. This can be done at the full value. And you have a wide variety of participants to choose from. Some of the participating programs include Southwest Airlines Rapid Rewards, United MileagePlus, Virgin Atlantic Flying Club, and Hyatt Gold Passport.

Chip enabled:

The Chase Sapphire Preferred Card is complete with an embedded chip for improved security.

Source: iStock

Source: iStock

Here are some of the basic charges and fees that come with the Chase Sapphire Preferred Card.

Interest rates and charges:

  • Annual percentage rate: 15.99%
  • Balance transfer APR: 15.99%
  • Cash Advance APR: 24.99%
  • Overdraft Advance APR: 24.99%
  • No minimum interest charge

Fees:

  • Annual membership fee: $0 for the first year and $95 after that.
  • Balance transfers: Either $5 or 3% of the amount per transfer, whichever is greater.
  • Cash advances: Either $10 or 5% of the amount per transfer, whichever is greater
  • Foreign transactions: None

Penalty fees:

  • Late payment: Up to $15 if the balance is less than $100 and up to $25 if the balance is $100 to less than $250. Up to $35 if the balance is $250 or more.
  • Return payment: Up to $35.
  • Return check: None.

The final word: Although this card has some great features, it may not be right for you if you don’t spend a lot on travel. In addition, some of the interest rates are a bit high, so make sure you only charge what you can pay off every month. Other than that, there are plenty of benefits and rewards for frequent travelers.

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