Here’s how you can check your Chase Sapphire Preferred points balance:
Online: Sign into your online account. The number of points you have available for use will be listed in a blue box on the left side of the landing page once you input your username and password. When you click on that box, which includes the words “Ultimate Rewards® / Use your points,” you will be taken to your “Rewards Dashboard.” In addition to the number of points you can redeem right away, your dashboard will display:
How many points you’ll get with your next monthly statement;
A breakdown of your year-to-date earnings by purchase category; and
A summary of your redemption options. They include travel expenses, gift cards, cash back and more.
Chase mobile app: The other way to check your Chase Sapphire Preferred points balance is through the Chase mobile app. It’s a free download, available for both iPhone and Android, and allows you to fully manage your account from your mobile device. That includes checking both your rewards and overall account balances, redeeming the points you’ve earned to date, and reviewing recent transactions.
By phone: Finally, if you have questions about your rewards balance, Chase Sapphire Preferred has a dedicated customer service line with real people ready to help 24/7. The number is (800) 432-3117.
Chase Sapphire Preferred is worth the $95 annual fee, as long as you spend at least $1,334 per month. That will enable you to qualify for the card’s initial rewards bonus, which will cover the cost of many years’ annual fees.
You get 60,000 points when you spend $4,000 during the first 3 months after you open your account. That’s a value of $750 when you redeem for travel through Chase Ultimate Rewards. (Points are worth 1 cent each, plus Chase Ultimate Rewards gives you an extra 25% redemption value.) The bonus alone will pay for 10+ years’ of membership dues.… read full answer
The third type of bonus you can get is from referrals. You earn 15,000 points for every person who signs up for Chase Sapphire Preferred using your referral link, with a limit of 75,000 points per year. That means you can earn an extra $188-$938 in travel every year, more than enough to offset the annual fee. You can’t forget about the everyday rewards you’ll earn on purchases, either.
Plus, Chase Sapphire Preferred has more benefits than just reward points. There are no blackout dates or other travel restrictions. And you’ll get a number of other free perks like travel insurance, roadside assistance, and purchase protection. All of these things enhance the value of this card even more.
Therefore, while Chase Sapphire Preferred’s annual fee certainly is above average, the rest of the offer is, too. So as long as you have excellent credit and spend enough to qualify for the initial bonus, Chase Sapphire Preferred is well worth the price.
The easiest way to redeem Chase rewards is online, but you can also do that over the phone at (800) 432-3117. You can redeem Chase rewards for gift cards, travel and cash back. Chase points are generally worth 1 cent each regardless of what they’re redeemed for. If you’re redeeming for cash, you can also go to a Chase branch. You’ll get your money as a statement credit or as an electronic deposit to the bank account of your choice.… read full answer
Here’s how to redeem Chase rewards:
Online: For online redemption, log in to your Chase account and go to the Chase rewards portal. From there, you’ll be able to book trips, buy gift cards, request statement credits, etc.
By phone: To redeem by phone, call Chase customer service at (800) 432-3117. Enter your account number to connect to a customer service representative. State that you want to redeem rewards.
At a Chase branch: You can request a statement credit or bank account deposit in exchange for your Chase rewards at any Chase branch. You just need your account number and a picture ID. But you won’t actually get cold hard cash on the spot.
Different Chase cards have different rewards programs. One card might give you the most rewards for travel, another for everyday purchases. So, you’ll want to pick a card with a reward structure that matches your lifestyle.
For all Chase cards in the Ultimate Rewards program, except Chase Freedom Flex℠ and Chase Freedom Unlimited®, you can also transfer Chase points to 13 airline and hotel loyalty programs at a 1:1 ratio. Whether or not that’s a good deal depends on the value of the loyalty program’s miles. Chase travel partners include United, British Airways, Southwest, IHG, Marriott and others.
Redeeming for travel through Chase with one of the three fee-based cards is the only dependable way to get more than a penny apiece for your Chase Sapphire Preferred points. More specifically, you’ll get 1 cent per Chase Sapphire Preferred point with each of the following redemption methods:
Cash back/statement credit
These two options offer the most versatility in terms of what you can spend your points on. But it costs you 25% in lost value. When you “Shop with Points” on Amazon.com, the points are worth just 0.8 cents each.
Finally, you also have the option of transferring your Chase Sapphire Preferred points to one of Chase’s 13 travel partners. Transfers are done on a 1:1 basis, in 1,000-point increments. And how much you get for transferred points depends on how much the particular travel partner’s points or miles are worth. This offers a certain amount of boom-or-bust potential. Your Chase Sapphire Preferred points could wind up being worth a lot more than normal or a lot less.
At the end of the day, if you don’t plan to redeem for travel through Chase, you might do better with a different credit card. It’s not as rewarding when used as a cash-back vehicle, and there are plenty of more versatile rewards cards available.
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