Why I love my Chase Sapphire Preferred card — and will always keep it in my wallet

Being a points and miles enthusiast means I have a drawer of credit cards. Choosing which cards to carry in my wallet can be a daunting task at times. However, one card will always have a slot in my wallet: the Chase Sapphire Preferred Card.

The Sapphire Preferred was crowned the Best Travel Rewards Credit Card at the 2023 TPG Awards for the sixth year in a row. So, it’s no wonder TPG staffers rank this as one of their favorite credit cards.

Here’s why the Sapphire Preferred will always stay in my wallet.

The most enticing feature of the Sapphire Preferred for me is its high earnings rates in a multitude of categories:

• 5 points per dollar on hotels and car rentals booked through Chase Travel
• 5 points per dollar on eligible Lyft rides (until March 2025)
• 3 points per dollar on worldwide dining
• 2 points per dollar on travel

Dining is the biggest spending category on my cards. The American Express® Gold Card is my go-to card for dining at restaurant purchases because of its 4 points per dollar earning rate. However, as an international foodie, I often find myself at many hole-in-the-wall restaurants that don’t accept Amex. That is where my Sapphire Preferred comes in handy with its 3 points per dollar earning rate on dining. The Sapphire Preferred is on the Visa network, so I never worry about acceptance.

Furthermore, I love the 2 points per dollar spent on travel. Chase defines travel very broadly, and the most common travel purchases I make — such as ride-hailing, parking and public transit — code as travel.

Lyft is my ride-hailing app of choice. I take, on average, at least 10 Lyfts per month, so earning 5 points per dollar spent on rides with no cap helps me rack up Chase Ultimate Rewards points.

Related: The best cards for international travel

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Another major reason to carry the Sapphire Preferred is the ability to earn Ultimate Rewards points. Cardholders can redeem these points through the Chase travel portal at 1.25 cents per point or transfer them to one of 14 transfer partners. Personally, I don’t redeem through the portal as the points’ value is significantly better when I use transfer partners.

Last summer, I redeemed 12,000 Ultimate Rewards points by transferring them to World of Hyatt for a three-night stay at Hotel Story Riddargatan in Stockholm over a busy peak summer weekend.

Related: How much are Chase Ultimate Rewards points worth?

The Sapphire Preferred comes with a handy annual $50 hotel credit when you book the Chase travel portal.

Now, 99.9% of the time, I will never recommend booking a hotel through an online travel agency like Chase Travel; rather, booking directly with the hotel is usually best. However, 0.01% of the time, I can recommend it when you are abroad in cities where the hotels are not part of any major loyalty program.

Last year, I was able to use the hotel credit for one night at a small boutique hotel in Andorra. This year, I used the credit for one night at the Canzi Cataratas Hotel near Brazil’s Iguazu Falls. Neither of these hotels was attached to a loyalty program, so I had no problem booking through the portal. These hotels were a little more than $50 a night, so the annual credit effectively netted me a free night each time.

Related: 6 reasons why you should book directly with an airline or hotel

Chase sends targeted offers to cardholders, meaning these offers vary depending on the cardholder. I often see offers such as extra points or cash back at retailers and restaurants I frequent. These targeted offers on the Sapphire Preferred are also stackable with the card’s bonus earnings and with shopping portals.

Related: Earn bonus miles with these airline portal promotions

The Sapphire Preferred includes many benefits that I use frequently. These include a six-month complimentary Instacart+ and DoorDash DashPash membership (both valued at $9.99 a month).

Instacart+ has been very useful to me on those lazy Sundays when I don’t want to leave the house. I can get my groceries delivered to me from popular grocery stores and supermarkets with no delivery fee.

The DashPash membership is also very valuable to me as I order food at least once a month, and DashPass waives the delivery fee.

Lastly, this card has no foreign transaction fee, which is essential for me as a frequent international traveler.

Related: Instacart+ members now get a free Peacock subscription

Many cards with similar benefits and earnings rates have high annual fees. The same can not be said about the Sapphire Preferred: It is just $95. The benefits, statement credits and ability to earn Ultimate Rewards points easily outweigh the annual fee.

The Sapphire Preferred is a credit card that will always have a place in my wallet. With its excellent earning rates and no foreign transaction fee, it’s the perfect travel companion for an avid international traveler like myself.

Most importantly, the Sapphire Preferred earns a flexible rewards currency in the form of Chase Ultimate Rewards points, which allows me to leverage transfer partners to maximize my redemption value.

To learn more, read our full review of the Chase Sapphire Preferred.

Apply here: Chase Sapphire Preferred Card