Why I’d Never Choose The Chase Sapphire Preferred (Or Reserve For That Matter)—And Why I Use the Wells Fargo Autograph℠ Card (Among Others) Instead (2024)

As mentioned, the consensus among credit card experts is that the Sapphire Preferred should be a wallet essential. And ultimately, when it comes to credit cards, it really is to each their own. But, this is my reasoning for why I found the card doesn’t work for my spending habits.

Rewards Rates Are Far Too Low

None of the rewards categories offered are higher than what I receive on my no-annual-fee cards. Consider the Capital One SavorOne Cash Rewards Credit Card’s (rates & fees) 3% on dining, groceries, entertainment and streaming services, the UMB Simply Rewards Visa*’s 3% on gas, groceries, dining, discount stores and restaurants or the Chase Freedom Flex℠’s 3% on dining and drugstores. These cards are just a few of countless options that meet or exceed the Sapphire Preferred’s rewards on daily expenses while charging no annual fee.

Additionally, the low 1 point per dollar earned on all other purchases for the Sapphire Preferred doesn’t motivate me to use it as my go-to card. Any flat-rate 2% credit card can beat this rewards structure for most of my purchases.

Chase Travel Isn’t the Best Booking Site

With the Freedom Flex in my wallet, I already qualify for 5% back on general travel booked through Chase Travel. But I’ve never chosen that booking route.

In my experience, Chase Travel has been a little tedious for comparison shopping since it’s behind a login screen. For flights, it often doesn’t offer the full range of times or the shortest layovers. In general, I’ve found prices are higher than other travel booking sites—higher to the point that even the Chase Freedom Flex℠’s 5% cash back doesn’t sway the decision.

I will admit that cashing in Sapphire Preferred rewards at 25% more value through Chase sounds tempting. But I’ve crunched the numbers. If I shop around for the best deal, redeem my points for cash back and actually earn another round of points for my travel purchase, it’s nearly a wash.

Pro Tip

Unless you’re getting more than one cent per point on a travel redemption, it may be a better idea to redeem your points for cash back (assuming a 1:1 ratio). Then you can earn points by spending the cash back you just recouped.

It Doesn’t Align With How I Travel

I love to travel—I’m actually wrapping up my seventh week abroad in the last six months. But the Chase Sapphire Preferred® Card doesn’t match my travel style. I do a lot of solo adventures, so I’m booking Airbnbs or camping along the way. Neither option can readily be booked through Chase Travel. I rarely stay in hotels, so to redeem the $50 hotel statement credit, I might need to pay more per night than I usually would.

I want the freedom to shop around for the best price and still earn top-tier rewards. Since the Citi Double Cash® Card earns 2% cash back on all purchases—1% when purchases are made and another 1% when they’re paid off, it’s easy to match the 2 points per dollar the Sapphire Preferred earns on travel purchased anywhere besides the Chase Travel portal. With the ability to earn 3 points per dollar on travel or transit and no annual fee or foreign transaction fees, the Wells Fargo Autograph℠ Card* easily beats the Sapphire Preferred for my travel purchases.

Pro Tip

The Capital One SavorOne Cash Rewards Credit Card earns 3% cash back on entertainment, which includes theater tickets, tourist attractions, amusem*nt parks and professional sporting events. It’s a great option to get the most out of your travel activities.

Featured Partner Offer

Citi Double Cash® Card

Apply Now

On Citi's Website

Welcome Bonus

Earn $200 cash back

Annual Fee

Regular APR

19.24% - 29.24% (Variable)

Credit Score

Excellent, Good, Fair

Editorial Review

The Citi Double Cash card’s simple cash back structure and long-lasting balance transfer APR offer make the Citi Double Cash a favorite among those who want to set it and forget it. It offers a solid cashback rate on all purchases and 0% intro APR on balance transfers, all without an annual fee.

Pros & Cons

Earn up to 2% cash back—1% when the purchase is made and 1% when payment is made on the account
No cash-back cap—no limit on the amount of cash back that can be earned
No annual fee
Introductory APR period for balance transfers

Foreign transaction fee
Balance transfer fee
Lack of benefits seen in other no annual fee cards
No introductory 0% APR on purchases

Card Details

Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24.
Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 19.24% – 29.24%, based on your creditworthiness.
Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).

Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.

Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

The Points Transfer Game Involves Too Many Hoops For Me

For the right person, the ability to transfer points to one of Chase’s 14 hotel and airline travel partners is probably ideal. But it’s too many steps for me. Of course, I could learn. My credit card strategy isn’t overly simplistic; I already price-compare flights on different dates and airlines and shop around my tours on Viator, GetYourGuide and Expedia. I’m just not ready to jump to this next level.

Granted, this is a huge benefit, if you’re willing to play the miles game. If you are one of those travelers, the Sapphire Preferred may have its place in your wallet.

The Annual Fee Eats Into Rewards Earnings

If I’m going to pay an annual fee for a credit card, I want to use it at least 50% of the time. So I’d want to use it at drugstores, discount stores, entertainment venues and for travel booked outside of Chase Travel too.

Notice that most of these expenses earn just 1 point per dollar with the Sapphire Preferred so I wouldn’t use it for much beyond dining and restaurants. That means the annual fee is just eating into my net yearly rewards—without contributing much.

Most Card Benefits Can Be Found Elsewhere

The Sapphire Preferred boasts a wide array of travel and purchase protections. While not all of these benefits are offered on a single no annual fee card, they can be obtained through a combination of cards if you need them.

Credit Card	Auto Rental Collision Damage Waiver	Trip Cancelation/Interruption Insurance	Purchase Protection/Extended Warranty	Cellphone Protection	Foreign Transaction Fees
Capital One SavorOne Cash Rewards Credit Card	No	No	Extended warranty only	No	None (rates & fees)
Chase Freedom Flex℠	Yes	Yes	Both	Yes	3% of each transaction in U.S. dollars
United Gateway℠ Card	Yes	Yes	Both	No	$0
Wells Fargo Autograph℠ Card*	Yes	No	No	Yes	None

There are a couple of benefits the Preferred can boast over its competitors—namely trip delay reimbursem*nt and baggage delay insurance. When I travel, I try to avoid checked bags, so the baggage delay protection isn’t a huge help. Thus far, I’ve gambled with the trip delay insurance, and I’ve gotten lucky. The travel protections in the European Union are extraordinary— for example I received $658 plus meals and a hotel from a delayed flight in October 2023—without the trip delay insurance.

It is worth noting that the Sapphire Preferred’s auto rental collision damage waiver is primary vs. the secondary coverage of the cards above. While that initially sounds like a big deal, I usually rent cars outside of the U.S., Mexico, or Canada, so the insurance on the cards above will act as primary coverage since personal car insurance usually doesn’t cover incidents outside of North America and may not even cover you outside the U.S.