Why The Chase Sapphire Preferred Is My Next Card

When I’m trying to decide what my next credit card is going to be, I consider a lot of factors. What trips do I want to take in the next one to two years? What points do I currently have? What points do I want? What’s my 5/24 status? 

These questions always help guide me towards a card that will help me meet my goals. I don’t open cards just for the sake of opening them.

Should You be Tempted by Chase’s “Pay Yourself Back” Offer?

Chase is offering a new way for Sapphire card holders to redeem their Ultimate Reward (UR) points. But does it make sense for you? Let’s move about the socially-distanced cabin and take a look.

What is it?

Chase has dubbed it the “Pay Yourself Back” feature. It allows Sapphire card holders to redeem their points for a statement credit. Another way to look at it is as a purchase eraser.

As with redeeming UR points in the Chase travel portal, the redemption rate will depend on which card you have.

The Basics of Chase Ultimate Rewards

Welcome! Today we continue our series on the types of credit card reward programs frequented by travelers. Here we’ll dive into the world of Chase.

In case you're joining us for the first time, or missed a prior post in this series, please check out the index below:

Credit Card Reward Programs for Travelers: An IntroductionThe Basics of American Express Membership RewardsThe Basics of Chase Ultimate Rewards (this post)The Basics of Capital One Rewards The Basics of Marriott BonvoyThe Basics of Citi ThankYou Points

Like American Express, Chase has a plethora of cards on offer.

[100k ENDS TODAY] Chase Sapphire Reserve vs. Citi Prestige vs. Amex Platinum

The sign up bonus that currently comes with the Chase Sapphire Reserve Card when you apply online, 100,000 Ultimate Rewards after spending $4,000 on the card within three months of opening it, will drop to 50,000 Ultimate Rewards for the same spending requirement this coming Thursday, January 12.