| Why the Chase Sapphire Preferred Card remains my one and only | by Caroline Tanner, News Reporter | | | When I joined TPG two-plus years ago, one of the first steps to becoming a TPGer — outside of expediting my passport renewal — was adding a travel rewards credit card to my wallet.
When I asked my colleagues for recommendations, there was a clear consensus — the Chase Sapphire Preferred card. Here's why:
The Sapphire Preferred is ideal for beginners looking to earn travel rewards, with lucrative earning rates and valuable perks, but with a much lower annual fee ($95) than competing cards.
Sapphire Preferred users earn 5 points per dollar on travel booked through the Chase Ultimate Rewards travel portal, and those points can be redeemed with 14 partner hotel and airline programs, including World of Hyatt. Plus, you get 3 points per dollar on dining, select streaming services and online groceries, and 2 points per dollar on all other travel purchases.
My favorite redemption so far has been transferring Chase points to my preferred hotel chain, Hyatt, to book a discounted stay at the high-end Andaz Maui at Wailea Resort.
Thanks to a timely deal, this property was available for 35,000-45,000 World of Hyatt points per night, compared to a cash price of $1,300, making this once-unaffordable property affordable. I had been sitting on the stack of welcome bonus points since opening the card, waiting for a redemption such as this.
Speaking of welcome bonuses, new Sapphire Preferred cardholders can earn 60,000 Chase points after spending $4,000 in the first three months of account opening, worth $1,230 based on TPG's current valuations.
For more reasons why TPG recommends this card, check out these stories:
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