Making the Most of the Chase Sapphire Preferred

With high rewards earnings, flexible point redemption and a hefty welcome bonus, the Chase Sapphire Preferred® Card has long been one of the Nerds' favorite travel cards and one of our most recommended cards overall.

Here's how to get the most out of it.

» MORE: NerdWallet’s best travel rewards credit cards

Spend enough to get the sign-up bonus

The Chase Sapphire Preferred® Card features a rich welcome offer: Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.

Of course, you do have to spend enough to actually get the bonus, which can be a stretch depending on your typical expenses. Applying for a new card before any planned major purchases can help get you closer to earning those points.

» MORE: 12 ways to reach a credit card’s minimum spend requirement

Combine it with another Chase card

If you carry other cards that earn Chase Ultimate Rewards® points, you can transfer those points into your Chase Sapphire Preferred® Card account. This makes it possible to amass a lot of points, especially if you earn multiple welcome bonuses. Plus, you’ll give yourself more ways to redeem those points later on.

If another member of your household also has a card that earns Chase Ultimate Rewards®, you can also combine points with them.

Options for companion cards include the Chase Freedom Flex® and Chase Freedom Unlimited®.

Book travel through Chase

Chase Ultimate Rewards® points are worth 1 cent apiece when redeemed for cash back, but can potentially be worth more with the Chase Sapphire Preferred® Card.

Previously, you could redeem for travel at a value of 1.25 cents per point, but the Chase Sapphire Preferred® Card is one of Chase’s cards that offers Points Boost. Essentially, the base value is 1 cent per point for travel redemptions through Chase, but certain airline and hotel bookings can be made at 1.5 or 1.75 cents per point.

Transfer points to other programs

The Chase Sapphire Preferred® Card allows you to transfer points to more than a dozen airline and hotel partners, which, in some cases, can actually lead to higher redemption rates than one would receive when redeeming for travel directly through Chase.

While the Chase Freedom Flex® andChase Freedom Unlimited® earn Chase Ultimate Rewards® points, you can’t transfer them to travel partners unless you also hold an eligible Chase travel card like the Chase Sapphire Preferred® Card. Moving the points you earn on a Freedom card over to the Chase Sapphire Preferred® Card gives you more redemption flexibility.

Here are all of Chase’s 1:1 transfer partners:

Make use of the card’s other benefits

In addition to a welcome bonus, rewards on purchases and flexible redemptions, the Chase Sapphire Preferred® Card offers:

• An annual $50 statement credit for hotel stays booked through Chase.

• A points bonus equal to 10% of your previous year’s spending on the card each account anniversary.

• A free DashPass membership, plus extra earnings on Lyft and eligible Peloton purchases (limited-time offer).

• Coverage in the event of a trip cancellation, delay or interruption, plus coverage for baggage delays.