How can I get the most out of Chase Sapphire Preferred?

To get the most out of Chase Sapphire Preferred, earn the card’s initial bonus and referral bonuses, take advantage of benefits, and redeem points for travel rather than cash back. Cardholders should also charge only what they can pay in full each month, because it’s not possible for someone to get the most out of Chase Sapphire Preferred if they have to pay interest.

The first step to start maximizing the value of Chase Sapphire Preferred is to spend $4,000 in the first 3 months after account opening to earn the initial bonus of 60,000 points. Then, refer as many friends as possible to the card each year to get a bonus of 15,000 points for each of the first five who are approved.

Lastly, one of the keys to getting the most out of Chase Sapphire Preferred is redeeming your rewards points for travel. Points are worth 1.25 cents each when you redeem them for travel through Chase Ultimate Rewards, compared to just 1 cent each toward cash back or gift cards. You can also consider transferring your points to Chase’s airline and hotel loyalty program partners at a 1:1 ratio. This may give you more value for your points, depending on the program.