Why my husband and I both have the Chase Sapphire Preferred card

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When my husband and I started earning credit card travel rewards two years ago, the Chase Sapphire Preferred® Card was one of the top recommended rewards cards we found. The Chase Sapphire Preferred card was the first card we opened — in fact, we each opened one, and we’re so glad we did. 

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

Once we obtained the sign-up bonus on my card, my husband applied for his Chase Sapphire Preferred card. Although we could have just added him as an authorized user on my card there were several reasons we didn’t do this.

Regular APR

15.99%-22.99% Variable

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  • Details
  • Pros & Cons

    • Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $1,000 toward travel when you redeem through Chase Ultimate Rewards®.
    • 2X points on travel and dining at restaurants worldwide, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases.
    • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 80,000 points are worth $1,000 toward travel.
    • Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash’s subscription service. 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 on travel.
    Pros
    • High sign-up bonus starts you off with lots of points
    • Strong travel coverage
    Cons
    • Doesn’t offer a Global Entry/TSA PreCheck application fee credit or any other statement credit benefits


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    We’re focused here on the rewards and perks that come with each card. These cards won’t be worth it if you’re paying interest or late fees. When using a credit card, it’s important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.

    Why my husband and I both got the Chase Sapphire Preferred

    Chase has a rule called 5/24, which limits how many of its cards you can open in a period of time. You’re only allowed to open five cards in 24 months across all banking institutions — and when you add someone as an authorized user on a card, it counts as a card opened for them in Chase’s eyes. Although this typically wouldn’t be a big deal, if you’re trying to obtain as many spending bonuses as you can it’s not worth wasting a card opening opportunity by becoming an authorized user. 

    If you add someone as an authorized user on your card, it prevents them from opening the same card and thus, earning their own sign-up bonus and their own points on their purchases.

    If, like us, you want to obtain the most amount of points in the smallest amount of time, don’t want to waste the opportunity to earn more points by double-dipping with credit card rewards.

    We were both able to open the Chase Sapphire Preferred® Card and by planning out our spending and using our cards for larger purchases, we obtained the welcome bonuses on both cards. This gave us 100,000 Chase Ultimate Rewards points! We ended up using these points to book flights and hotel on the Big Island in Hawaii last spring, a much-needed vacation before the pandemic was in full swing. 

    Our favorite Chase Sapphire Preferred benefits

    Since getting the Chase Sapphire Preferred® Card, my husband and I have opened several other travel rewards credit cards, but the Chase Sapphire Preferred has been one we have held onto and used the most for several reasons:

    Chase’s rewards program is easy to use

    Chase’s Ultimate Rewards program is one of the easiest to use and has an option to book travel plans directly through their site.

    If you book through Chase Ultimate Rewards with points from the Chase Sapphire Preferred, you can get 25% more value toward travel from your points. Alternatively, you can transfer your miles to one of Chase’s airline or hotel partners. Southwest is one of Chase’s partners, and this was a huge plus for my husband and I since we often fly Southwest inside the US. Plus, Chase has several great cards that can be used together to earn and redeem more points.  

    We earn 2x points on travel and food 

    The Chase Sapphire Preferred earns 2x points on all travel and dining, including restaurants, food and grocery deliveries. 

    It has a low annual fee

    The Chase Sapphire Preferred card is not zero cost, but it only has an annual fee of $95 — on the lower end for rewards credit cards. (The premium Chase Sapphire Reserve has a $550 annual fee.)

    Regular APR

    15.99%-22.99% Variable

    Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

  • Details
  • Pros & Cons

    • Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $1,000 toward travel when you redeem through Chase Ultimate Rewards®.
    • 2X points on travel and dining at restaurants worldwide, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases.
    • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 80,000 points are worth $1,000 toward travel.
    • Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash’s subscription service. 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 on travel.
    Pros
    • High sign-up bonus starts you off with lots of points
    • Strong travel coverage
    Cons
    • Doesn’t offer a Global Entry/TSA PreCheck application fee credit or any other statement credit benefits


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    Read Our ReviewA looong arrow, pointing right

    We get great travel cancellation protection  

    The Chase Sapphire Preferred offers up to $10,000 per person in trip-cancellation reimbursement if your trip is changed due to sickness or other covered situations, which is a bonus during these unpredictable times we’re living in. Chase will also give you up to $500 for expenses like a hotel and food if your flight is delayed and you need to stay overnight somewhere you weren’t intending to. 

    DoorDash delivery fees are waived, thanks to DashPass membership

    A lesser-known (and limited-time) benefit to the card is that Chase waives the DoorDash delivery fee for Chase Sapphire Preferred cardholders thanks to a complimentary year-long membership to DoorDash DashPass.

    When COVID-19 first impacted our ability to eat out, we started ordering delivery one to two times a week to continue supporting local businesses. Using our Sapphire Preferred card enabled us to save the delivery fee every time. 

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    Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. What you decide to do with your money is up to you. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.

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