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.

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.

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.

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.