Without a doubt, the credit cards you carry can either really help you or really hurt your finances. With that in mind, I periodically take a look at new credit cards on the market and how they stack up to all the available options.
Today, let’s look at the latest travel rewards cards from Chase: The Chase Sapphire Card and the Sapphire Preferred Card.
The Chase Sapphire Card provides unrestricted travel rewards for no annual fee. The Sapphire Preferred Card provides additional benefits for an $95 annual fee (the first year is free).
The Chase Sapphire Card offers:
- Earn 25,000 bonus points after you spend $3,000 in the first 3 months – that’s $250 toward a flight or any other reward!
- 2 points per dollar spent on dining & 1 point per dollar spent on all other purchases.
- Points never expire and there are no limits on how many points you can earn
- Redeem points for travel, gift cards, merchandise, cash back and more
- 24/7 direct access to expert service advisors (No voice recording)
- No annual fee!
In contrast, the Chase Sapphire Preferred Card gives you the same one point per dollar spent and 2x points on airfare booked through Ultimate Rewards, plus:
- Earn 50,000 bonus points after you spend $3,000 in the first 3 months- that’s $625 toward travel!
- 2 points per dollar spent on travel and dining & 1 point per dollar spent on all other purchases.
- Use 20% fewer points when you redeem for travel. Just book your flight, cruise, or other travel through Ultimate Rewards
- No foreign transaction fees
- Earn a 7% annual points dividend – even on points already redeemed
- Transfer points you’ve earned to participating frequent traveler programs at a 1:1 value
- 24/7 direct access to expert service advisors (No voice recording)
- No Annual Fee for your first year – A $95 value
The Sapphire Preferred’s intro bonus is extremely attractive, and the lack of foreign currency transaction fees is a big selling point for international travelers. That said, after the first year you’ll need to spend about $1,000 a month to break even on the annual fee in rewards points, so if you’re spending is more on tune to a few hundred dollars a month, the regular Chase Sapphire Card is a better bet.
If you fly at least a few times a year and enjoy earning credit cards rewards in the form of free airfare, travel rewards cards like Chase Sapphire can make more sense than cash back credit cards simply because the free airfare is sometimes worth more than straight cash back. As I’ve said before, however, the less-frequently you travel, the more cash rewards credit cards seem like the better option (try Chase Freedom, Blue Cash by Amex, or the Discover More Card).
If a travel rewards card is for you, the Chase Sapphire Card is a good pick.
Most of the travel rewards cards out there right now, such as the Capital One Venture Card, Discover Miles Card, and others, are comparable in their rewards—you earn one point per dollar spent and extra points on airfare. One feature that makes the Sapphire credit card stand out, however, are their 24/7 service advisors. Basically, this is a free concierge service that can help you in your travels (or even in your everyday life).
One writer pushed the limits of what this service can offer. While he couldn’t get Chase to call him with daily motivational affirmations, he was able to get help with a crossword puzzle clue and some information on space travel.
Aside from Chase’s service advisors, the differences in these cards come down to the issuing bank. Who do you want to do business with?
My personal experiences with Chase customer service (and those of close friends) has been typical of big bank call centers, although I personally feel Chase reps are a bit more knowledgable and less pushy than some I’ve dealt with at other credit card companies, (Citi and Capital One come to mind).
- Chase Sapphire Card: Learn More or Apply Now »
- Chase Sapphire Preferred Card: Learn More or Apply Now »
Disclaimer: One way I’m able to support my blogging while helping you is to link to products I like and earn a referral commission if you sign up. I only link to products I trust. That said, you should know that if you click the links to these cards and ultimately apply for and are approved for that card, I may be paid for that. If you choose to support Money Under 30 in that way, thanks!
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I'm David Weliver. At 26, I had NO savings and NO financial plan. I was maxed out, stressed out, and fed up. Then, I changed. I repaid $80k of debt, tripled my income, and bought a home. I'll show you how to get similar results. 
This sounds like a good credit card. And like you said, you are dealing with one of the biggest banks. To me that is assuring.
The best card to me seems to be Charles Schwab invest first Visa. Anyway you dice it all other rewards give you only up to 2% back. With Schwab’s card you get a straight 2% back on ALL purchases in the form of cash deposited into your brokerage account which can be withdrawn as cash to your bank account. Or use it to get a start on investing. I didn’t have an account with them and opening one was easy – I already have $500 in there after about 6 months of spending. Pretty much giving me a flight to anywhere in the US already. (I switched to this from my Chase Sapphire card).
Unfortunately, the Charles Schwab Invest First Visa is no longer supported by Charles Schwab. They have turned operations over to FIA card services, who see their job as squeezing every possible dime out of the customer. There is not even an option of inquiring via e-mail on their website. The phone customer service is a complete misnomer. Personnel talk in circles, refuse to allow discussion with a Supervisor/Manager and essentially make your life miserable. Don’t ever make a mistake by making two payments in one month….it will result in a refusal to assist in the return of the money. In my case, it required my bank (Citibank) to get involved to have the money returned (the duplicate payment). Then FIA card services charged a $25 check return fee, when it was their mistake in taking a double payment. As soon as I find a suitable replacement card, with no transaction fees and appropriate rewards, I will cancel this account, even though it may affect our credit worthiness. I cannot stand trying to deal with an institution which is out to get me, no matter what the circumstances.