Why my husband and I each have the Chase Sapphire Most well-liked card

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When my husband and I started earning credit card rewards two years ago, the Chase Sapphire Preferred® Card was one of the most highly recommended reward cards we found. The Chase Sapphire Preferred card was the first card we opened – in fact, we opened one at a time and we’re so glad we did.

I first opened the Chase Sapphire Preferred when the welcome offer was a waived annual fee for the first year plus 50,000 points for meeting the minimum spend requirement of $ 4,000 in three months. Now the welcome bonus is even better: 80,000 points after spending $ 4,000 in the first three months.

After receiving the sign up bonus on my card, my husband applied for his Chase Sapphire Preferred card. While we could just have put it on my card as an authorized user, there were several reasons why we didn’t.

Regular APR

15.99% -22.99% variable

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  • For and against

    • Earn 80,000 reward points after spending $ 4,000 on purchases in the first three months of opening your account. That’s $ 1,000 in travel when you redeem through Chase Ultimate Rewards®.
    • 2X points for travel and dining in restaurants around the world, eligible delivery services, takeaway and food & 1 point per dollar for all other purchases.
    • Get 25% more value when you redeem airfares, hotels, rental cars and cruises with Chase Ultimate Rewards. For example, 80,000 points are worth $ 1,000 for travel.
    • With DashPass, DoorDash’s subscription service, you get unlimited deliveries with a $ 0 delivery fee and reduced service fees on orders over $ 12 for at least one year on qualified grocery purchases made with DashPass. Activate by 12/31/21.
    • Earn 5X points on Lyft rides through March 2022. That’s 3X points in addition to the 2X points you already earn while traveling.
    benefits
    • A high registration bonus starts with many points
    • Strong travel coverage
    disadvantage
    • Does not offer a Global Entry / TSA PreCheck registration fee or other bank statement credit benefits

    Read our review
    Read our review A long arrow pointing right

    We’ll focus here on the rewards and benefits associated with each card. These cards are not worth it if you pay interest or late fees. When using a credit card, it is important that you pay your balance in full each month, pay on time, and only spend what you can afford.

    Why my husband and I both got the Chase Sapphire Preferred

    Chase has a rule called 5/24 that limits the number of cards you can open in a given period of time. You are only allowed to open five cards in any bank within 24 months. When you add someone to a card as an authorized user, Chase sees it as an open card for them. While it’s usually not a big deal, it’s not worth missing out on an opportunity to open cards in trying to get as many spending bonuses as possible by becoming an authorized user.

    Adding someone to your card as an Authorized User will prevent them from opening the same card and thus earning their own sign-up bonus and points on their purchases.

    side note

    My wife and I figured out how to earn more points and travel cheaply by double-diving on credit card rewards

    If, like us, you want to earn the most points in the shortest possible time, don’t miss the opportunity to earn more points by double immersion with credit card rewards.

    We were both able to open the Chase Sapphire Preferred® card and get the welcome bonuses for both cards by planning our expenses and using our cards for major purchases. This gave us 100,000 Chase Ultimate Rewards points! We used these points to book flights and hotels on the Big Island of Hawaii last spring, a much-needed vacation before the pandemic was in full swing.

    Our Favorite Chase Sapphire Preferred Benefits

    Since I received the Chase Sapphire Preferred® Card, my husband and I have opened several other credit cards for travel rewards, but the Chase Sapphire Preferred Card has been the most used by us for several reasons:

    Chase’s rewards program is easy to use

    Chase’s Ultimate Rewards program is one of the easiest to use and offers the option to book travel plans directly through the website.

    side note


    These 3 chase cards are all you need to maximize how you earn reward points

    When you book through Chase Ultimate Rewards with points from the Chase Sapphire Preferred, you get 25% more travel value from your points. Alternatively, you can transfer your miles to an airline or hotel partner of Chase. Southwest is one of Chase’s partners and this was a huge plus for my husband and I as we fly to Southwest frequently within the US. Also, Chase has several great cards that can be used together to collect and redeem more points.

    We earn 2x points for travel and food

    The Chase Sapphire Preferred earns 2x points for all travel and dining, including dining, groceries, and grocery deliveries.

    It has a low annual fee

    The Chase Sapphire Preferred card doesn’t cost zero, it only comes with an annual fee of $ 95 – the low end for award credit cards. (The better Chase Sapphire Reserve has an annual fee of $ 550.)

    Regular APR

    15.99% -22.99% variable

    Chevron Icon Indicates an expandable section or menu, or sometimes previous / next navigation options.

  • details

  • For and against

    • Earn 80,000 reward points after spending $ 4,000 on purchases in the first three months of opening your account. That’s $ 1,000 in travel when you redeem through Chase Ultimate Rewards®.
    • 2X points for travel and dining in restaurants around the world, eligible delivery services, takeaway and food & 1 point per dollar for all other purchases.
    • Get 25% more value when you redeem airfares, hotels, rental cars and cruises with Chase Ultimate Rewards. For example, 80,000 points are worth $ 1,000 for travel.
    • With DashPass, DoorDash’s subscription service, you get unlimited deliveries with a $ 0 delivery fee and reduced service fees on orders over $ 12 for at least one year on qualified grocery purchases made with DashPass. Activate by 12/31/21.
    • Earn 5X points on Lyft rides through March 2022. That’s 3X points in addition to the 2X points you already earn while traveling.
    benefits
    • A high registration bonus starts with many points
    • Strong travel coverage
    disadvantage
    • Does not offer a Global Entry / TSA PreCheck registration fee or other bank statement credit benefits

    Read our review
    Read our review A long arrow pointing right

    We receive excellent travel cancellation protection

    The Chase Sapphire Preferred offers up to $ 10,000 per person for trip cancellation refunds if your trip is changed due to illness or other covered situations. This is a bonus in these unpredictable times we live in. Chase also gives you up to $ 500 on expenses like a hotel and food if your flight is delayed and you have to stay in a place you didn’t intend to.

    Thanks to the DashPass membership, there are no DoorDash delivery charges

    A lesser-known (and limited-time) perk of the card is that Chase waives the DoorDash delivery fee for holders of a Chase Sapphire Preferred card thanks to a free one-year membership to DoorDash DashPass.

    When COVID-19 first affected our ability to eat, we ordered delivery once or twice a week to keep helping local businesses. By using our Sapphire Preferred card, we were able to save the delivery fee every time.

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    Disclosure: This post is made available to you by the Personal Finance Insider team. Occasionally, we highlight financial products and services that can help you make smarter decisions with your money. We do not provide investment advice or encourage you to pursue any particular investment strategy. What you do with your money is up to you. If you take action based on one of our recommendations, we will receive a small portion of the sales from our trading partners. This has no influence on whether we offer a financial product or a financial service. We work independently from our advertising sales team.

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