Choosing your next credit card can be a challenge. When I decided to open my fifth credit card, it came down to a showdown between the Chase Sapphire Preferred® Card and the Bilt Mastercard® (see rates and fees). While the rewards and benefits of the Bilt card are appealing, I chose to go with the Sapphire Preferred.
There are many compelling reasons to have the Sapphire Preferred have it in your wallet. Here are the factors that swayed my decision in its favor.
Related: 6 reasons the Chase Sapphire Preferred should be your next credit card
Fantastic limited-time offer
For a limited time, the Sapphire Preferred has a very appealing welcome offer: 75,000 Chase Ultimate Rewards points after spending $4,000 in purchases in the first three months from account opening.
Chase values this welcome offer at $900. However, since TPG values Ultimate Rewards points at 2.05 cents per point when using Chase’s transfer partners, 75,000 points can be worth as much as $1,538 when redeemed for travel.
It’s hard to say no to an offer like this. I hold the Chase Freedom Flex℠ and the Chase Freedom Unlimited®; by combining my earnings on those cards with the Sapphire Preferred, I can obtain even more Ultimate Rewards points. I’m hoping to take my first international trip next year. These points will allow me to make a flight or a hotel redemption through Chase’s transfer partners, lowering the overall out-of-pocket cost for my trip.
Related: The best time to apply for these 9 popular travel credit cards
Useful hotel statement credit
This card offers up to $50 in statement credits each account anniversary year for hotel stays booked through Chase Travel℠. I don’t plan to book hotels through Chase Travel too often; I’ll usually get better value by booking directly with the hotel.
That’s because if I use Chase Travel to book a stay with a major hotel brand, I won’t earn points with that brand’s loyalty program. Since I often stay with Hilton, booking directly with them to earn Hilton Honors points makes more sense.
Daily Newsletter
Reward your inbox with the TPG Daily newsletter
Join over 700,000 readers for breaking news, in-depth guides and exclusive deals from TPG’s experts
I’ll still pay for that charge with my Sapphire Preferred, ensuring I’ll get bonus Ultimate Rewards points on top of hotel points. However, if I’m booking a hotel that doesn’t have a loyalty program, I will book through Chase Travel. That’s where the Sapphire Preferred’s hotel statement credit comes into play.
It’s nice to know that I’ll still get some kind of benefit when booking with a boutique hotel. The statement credit can reduce the overall cost of my stay, helping me save money for experiences and dining. It makes bookings at nonbranded hotels much more appealing — especially on short trips when the cost of my stay isn’t high.
Related: How to use the $50 hotel credit on the Chase Sapphire Preferred
Benefits that fit my lifestyle
As a young professional living in a city, I use DoorDash frequently. Delivery fees and other fees on every order can add up, so DashPass is an important membership for me.
With the Sapphire Preferred, I’ll get a complimentary DashPass subscription for at least one year upon activation. Since an annual DashPass subscription is valued at $96, this benefit alone pays for the Sapphire Preferred’s $95 annual fee.
This card also provides a six-month complimentary Instacart+ subscription (activation required). I’m fortunate to live close to a grocery store, but when I want something that my local store doesn’t have, Instacart can be a great way to get it. With Instacart+, I’ll be able to avoid that pesky delivery fee.
Additionally, the Sapphire Preferred offers up to $15 in quarterly statement credits for Instacart+ members. These statement credits can help offset the cost of groceries or the cost of my subscription once my complimentary one expires.
Related: Instacart Mastercard® review
Solid earning rates
As a prospective traveler, I love that the Sapphire Preferred earns 2 points per dollar in spending on travel purchases made outside of Chase Travel. If I book through Chase Travel, I’ll earn 5 points per dollar on my purchase. Chase’s definition of travel for this card is broad. It includes some purchases you may not expect, like campgrounds, toll bridges and highways, travel agencies and parking garages.
I’m a big fan of the outdoors, so earning bonus points on camping reservations is part of what makes this card so appealing. Regardless of how or where I travel, I know I can rely on the Sapphire Preferred to earn me bonus points.
Since I’ll be using the Sapphire Preferred to pay for all my DoorDash orders, it’s nice to know that it earns a lot in the dining category. I’ll earn 3 points per dollar on dining. My American Express® Gold Card is my go-to card when I dine at a restaurant, but the Sapphire Preferred is still useful at restaurants that don’t accept American Express. The Sapphire Preferred doesn’t have a foreign transaction fee, so I can also use it as my dining card abroad.
As a city dweller, I don’t have a car. I often use ride-hailing apps whenever I need to travel somewhere that’s too far to reach on foot. With the Sapphire Preferred, I’ll earn 5 points per dollar in spending on Lyft rides (through March 2025).
Finally, I love that the Sapphire Preferred earns 3 points per dollar on streaming. Streaming isn’t close to my biggest spending category each month, but I want to maximize the points I earn whenever and wherever possible. Earning extra points on my streaming services, like Spotify and ESPN+, greatly benefits me. Since TPG values Ultimate Rewards points at 2.05 cents per point, I’ll receive over 6% back on all my streaming purchases.
Related: How to pay less than $4 a month for 4 streaming services
Fits into my larger strategy
As mentioned, I can combine my rewards from the Freedom Flex, Freedom Unlimited and Sapphire Preferred to get greater value. This trio of cards isn’t the only way the Sapphire Preferred fits into my bigger points and miles strategy.
I want to optimize my wallet across as many spending categories as possible. Since the Sapphire Preferred has such strong earnings on travel and streaming, I’ll use it for all those purchases going forward.
I’ll still use my Amex Gold at U.S. supermarkets and as my primary card for restaurants; meanwhile. I’ll use my Freedom Unlimited for all other spending. My Freedom Flex earns bonus points on rotating quarterly categories, such as Amazon and fitness clubs, further strengthening my wallet (activation required).
With my travel, dining, streaming and grocery spending well covered, I can start thinking about other spending categories I want to earn bonus points on. Even though I chose the Sapphire Preferred this time, I still intend to apply for the Bilt Mastercard in the future. That card will allow me to earn points on rent — my largest spending category each month (on up to 100,000 points per calendar year; cardholders must use the card five times each statement period to earn points; see rewards and benefits).
I also want cards with benefits that fit my lifestyle. Since I use food delivery and ride-hailing services a lot, I want cards that offer perks connected to these services. The Sapphire Preferred helps serve this with its complimentary DashPass membership and 5 points per dollar on Lyft rides. This card is a great step toward having a well-rounded and powerful wallet.
Related: No-annual-fee credit card strategies
Bottom line
The Sapphire Preferred offers great earning categories and useful benefits for an annual fee of just $95. By taking advantage of the complimentary DashPass subscription, Instacart benefits and hotel statement credit, I can easily get positive value out of this card. The Sapphire Preferred will have a prominent place in my wallet for a long time.
To learn more, check out our full review of the Chase Sapphire Preferred.
Apply here: Chase Sapphire Preferred
Related: 11 reasons to choose the Sapphire Preferred over the Sapphire Reserve
For rates and fees of the Bilt Mastercard, click here.
For rewards and benefits of the Bilt Mastercard, click here.
