I keep my card_name year after year. You might wonder why, when it has a $95 annual fee and I’ve already used the points I earned from the welcome offer.  Would it ever make sense not to have this card?  Not for me!  Here are four reasons the Chase Sapphire Preferred® Card will remain in my wallet from year to year.

 
 

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Transfer Partners and Chase Travel℠

In order to use transfer partners (i.e., airlines and hotel programs) and redeem your Ultimate Rewards® for travel at a rate of 1.25 cents per point or more through Chase Travel℠, you have to have the card_name, the card_name, or the card_name. I continue to earn Ultimate Rewards®, so I want to be able to do this.  This is the main reason I will keep this card. It is the only card of the three listed above that I currently have.

 

Interval Between Welcome Offers

You can reapply for this card only once 48 months have passed since you last received a welcome offer for it (or for the card_name). I have had my card for two years, so I have about two years and three months before I can reapply for it. I will keep it until I get close to that point and then downgrade it.  I need my Chase Sapphire Preferred® Card to get the maximum value out of my Ultimate Rewards®. I primarily use it to transfer Ultimate Rewards® for oversized value with Hyatt stays.

 

 

Annual Fee

The annual fee is only $95, which is on the low end.  Annual fees are usually worth paying and we don’t get hung up on them. They are the vehicle for amazing benefits and welcome offers.

 

Benefits

There are so many benefits with the Chase Sapphire Preferred® Card. I like the primary rental-car insurance, which is worth the $95 annual fee. It saves me a ton of money when I rent cars on vacation! I can earn five points per dollar on travel purchases I make through Chase Travel℠ and three points per dollar on dining and certain streaming services. I can also earn three points per dollar on online grocery purchases (but this doesn’t include Target, Walmart, or other grocery clubs). 

• 5 points per dollar earned on travel booked at Chase Travel℠
• 5 points per dollar on Lyft rides until March 2025
• 3 points per dollar on dining
• 3 points per dollar on select streaming services 
• 3 points per dollar on online grocery purchases 
• 2 points per dollar on travel not booked through Chase Travel℠
• 1 point per dollar on all other purchases
• $50 annual Chase Travel℠ hotel credit
• 10% bonus on Ultimate Rewards® earned on your total spending amount when you renew your card and pay the annual fee each year
• Primary Auto Rental Collision Damage—this is huge becauese most cards only offer secondary insurance coverage.
• Get complimentary access to DashPass when you activate by December 31, 2027 AND a $10 monthly DoorDash credit.
• No foreign transaction fees
• Baggage-delay insurance, trip-delay insurance, and interruption insurance
• 24/7 access to customer service
• Zero-liability protection (you won’t be held responsible for unauthorized charges)

 

Factoring in the $50 annual hotel credit, the annual fee effectively is reduced to $45. If you can take advantage of those other benefits, like the DoorDash credit, then your effective annual fee could be canceled out completely. I think these benefits are worth keeping this card.

 

Bottom Line

I keep my Chase Sapphire Preferred® Card year after year for these four reasons. It is one of my favorite cards in my wallet. What are your thoughts about this card?

 

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