So ladies and gents, here in my hand is the Chase app I Preferred one of the best beginner travel credit cards due to its relatively low annual fee, flexible reward structure, and the different benefits it offers. Now what's cool is this was actually one of my first travel credit cards that I ever got. and it's actually one of the cards that I have a pretty strong sentimental attachment to now before I dive a bit deeper onto why that is I'm gonna be sharing with you my thoughts on this card, the updates for 2023 on the benefits, the strategy on picking this card up for this year, and who this card would be best meant for. On top of that, I'm also gonna be going over some additional tips and tricks for anyone who's trying to redeem the most amount of value out of these cards.

and I'll also be sharing with you some additional tips and tricks on how to get a proof of this card if you're trying to apply today. So at the time of filming this video, The Chase Sapphire Preferred is going to offer you 60 000 bonus ultimate reward points after you spend four thousand dollars on purchases in the first three months from opening your account. Right off the bat I Remember when I was getting into the credit card space I had no idea what points were worth, so just whenever you hear one point, just imagine that to being one cent at the minimum. There are often times where you can get more value or more bang for the buck, where your points are worth more than one cent.

So if 60 000 bonus points is worth one cent, that would be six hundred dollars. But on the other hand, if it's worth two cents, sixty thousand bonus points would be worth twelve hundred dollars towards the end of the video. I'll share with you exactly how you can get some bigger redemptions just like that. But moving forward with a card like this, you'll be earning 5x points on travel purchase through the Chase Ultimate Rewards portal, which excludes Hotel purchases that qualify for the 50 annual Ultimate Rewards Hotel credit.

Now this is a bit more of a newer perk I'll talk about it soon, but all you need to know is that you'll get 5x there. but you'll also get 2x points on all other travel. So that 50 annual credit is actually really simple to use. All you have to do is log into your account, go into the Chase Ultimate Rewards portal.

look at different hotels you want to stay at, and when you find one that that's over fifty dollars, this will naturally apply to your statement as a credit. This is just one of those few benefits that Chase offers in order to help offset that annual fee of 95. A little bit of a history lesson too. Back when I had this card, it was actually no annual fee for the first year and then 95.

after that, Chase did decide to switch it up. I Think the change happened about two to three years ago and since then it's 95. Now Ladies and Gents, though that's not all. but the Chase Sapphire preferred is also going to give you three x points on dining, which is pretty amazing for the fact that this was meant to be a travel card, but it's still offering you some benefits.

Outside of that, Chase also had a partnership with Lyft and even right now through March 31st, 2025, you can earn 5x points on Lyft rides which is 3x points in addition to the 2x points that you would already earn on travel. So if you happen to not like Uber for whatever reason and you primarily use Lyft you would be getting an additional incentive with that 5x cashback that you get using this card. Not only that, but ladies and Gents Chase added another additional cash earning benefit to this card which is 3x points on select streaming services and online grocery purchases. Now this here did not come with a card back in the day, but right now it seems like with the new updated version, you'd be earning this perk.

I Cannot count on my fingers how many different streaming services I use I know I got Netflix HBO Max Hulu Maybe I can count it on my fingers, but you guys know what I mean. There are just a lot of different subscription services that people are using and when you qualify to earn 3x, you would then be maximizing the points that you can get on top of that. I Used to do a lot more grocery shopping in person, but nowadays I'm actually ordering it more online. So with Chase offering this 3x I do think it pairs really well with a lot of other cards.

One last thing that Chase Sapphire Preferred offers is a 10 anniversary points boost. So without reading the exact fine print, it can sound a little bit misleading. It can sound like you're getting 10 anniversary points boost on maybe the cashback that you're earning or the points that you can get on this card, but that's actually not not the case. So what Chase means with this benefit is that each account anniversary year, you'll earn bonus points that equals 10 percent of your total spend in points from purchases made with your credit card during their previous account anniversary year at a rate of one point for each one dollar spent.

So don't mistake this as earning 10 back of the points that you would be getting in a given year. This is simply just adding point one percent to the existing bonus category on The Chase Sapphire Preferred. so you know you'd be getting 5x back on travel purchase through the Ultimate Rewards portal, three percent back on dining, 3x back on online grocery store purchases, or you could think of 5.1 percent back, 3.1 percent back, and etc etc. Now on top of that, this card does offer a few other benefits with the Chase Staff I Preferred.

You can also get six months of complimentary Instacart Plus, which you can activate by July 31st, 2024.. I Will say Instigar Plus has actually been coming in handy just because I Use ubereats for a lot of my online Grocery and even food deliveries. but it looks like Instacart has the most amount of grocery stores that aren't normally available in some other apps that I primarily use. On top of that, they're also going to be giving you a complimentary access to Dash Pass a membership for both Dash Pass and caviar for a minimum of one year when you activate by December 31st, 2024..

they'll also be giving you a 10 monthly statement credit from Gopuff. You'll be getting zero dollar foreign transaction fees, trip cancellation Insurance You'll get zero liability protection, you get baggage delay insurance, and you'll also get primary auto rental collision damage waiver. So even at this point, this card is packed with a bunch of benefits. But I Want to start by talking more about who this is best meant for I Would not consider this to be a viable end game card unless you've exhausted all of your options and there's nothing left but this.

The Chase Staff I Preferred is really going to be good for anyone who might not be traveling too much, but you still want to be able to get a significant amount of points. And if you ever did have the option of traveling, you know that you have a card of available to you. This was like the 2016 version of Brian Jung straight out of Community College still rather broke, still trying to make a name for himself, and even back then I knew there was no way I could afford the annual fee on the Platinum card or even the Chase Sapphire Reserve I Just can't imagine anyone who would be in my shoes to consider those cards even viable. This would be next up on the list.

A annual fee of 95 is about 7.91 every single month in order to hold a card like this. by paying that small amount and getting the massive welcome bonus offer of 60 000 points AKA 600 plus dollars and then the slew of other benefits and their expanded cash back category I Think this makes for one of the best popular beginner travel credit cards. Another reason why this card is so great for any beginner or even just mid-tier card holders is for the fact that we talk a lot about The Chase Trifecta on this channel and this is an essential into that setup. I'm sure if you're watching a video like this, you already know about some of the other credit cards, but if you don't, the Chase Freedom unlimited or the Chase Freedom Flex pair so so well with this.

And that's because the Chase ecosystem just works really well together. If you happen to have the Chase Freedom Card by owning this card and hitting that welcome bonus, you're gonna be getting a lot more points. But more than that, you have access to the Ultimate Rewards travel portal. So if you want to actually use those points, if you've accrued on some of those beginner credit cards, or if you have some additional business cards, you can get 25 more value.

So if you have a thousand dollars in Chase Ultimate reward points or a hundred thousand points, you would be getting one thousand, two hundred fifty dollars in upgraded value through that portal. Now the Chase Sapphire Reserve is going to give you 50 more points, but keep in mind it's much higher of an annual fee. It's 5x the annual fee, so for anyone who's not traveling, it may not be worth it at all. Another benefit of this card is the fact that yes, it has an annual fee of 95, but you're getting a whole ton of stuff where I know you guys can recoup value very quick within that first year.

But more than that you can also find a ton of different downgrade paths to make sure that you know after one year you don't like holding this card. Maybe ask for retention offer so you call the bank and you let them know. Hey, this card is a little bit hard to use I don't know. how long I can keep it for and they'll say you know what we're sorry about that.

We'll waive your annual fee for this year or hey, you know what we're sorry about that? Here's 10 000 Chase Ultimate Reward Points equivalent to a hundred dollars. you go that route or you could also just downgrade it to a Chase Sapphire regular card which a lot of people don't know about, a secret little tip or trick right there which has no annual fee. By the way, that card is not publicly offered, it's a downgrade path only card as another option. You could always just downgrade this card into another Chase Freedom product.

Now there are advantages and disadvantages: I Highly recommend. Only downgrading once you have been able to get that welcome bonus offer so you don't exhaust any options. The best way to always get a card is to apply for it. Naturally, like if you guys would apply for this card through the link Down Below in the description yeah, I Know that was a pretty nice little transition right there, but I'm I'm being serious.

If you guys do want to support this channel, check out the link Down Below in the description I Also have a QR code somewhere here on the screen, but always make sure that you have the offer best for yourself. Always make sure that this card fits your own personal spending needs. And please if you you happen to not be using credit cards correctly which means you're never paying interest, it's always on auto payment. You never carry a balance.

This card is right for you. but if you do the opposite of that, no, no avoid this type of content. Just skip out of this video now. So with all that being said, who is this card best meant for? I Feel like I answered it I Feel like this is just good for anyone who's trying to step into the travel game who may not be making too much money, but you're ready to step up your life and you're trying to expand your beginner credit card selection.

It's almost like baby steps. You know you don't need to go all the way and shoot for the moon on the AmEx Platinum card, but you don't want to just hold beginner travel cards for the entirety of your life. There are some people I know who are afraid of having annual fee credit cards, but they travel so much where I know they'll get positive value but they don't look outside Past that ladies and gents. I'll say please do not be like that because if you properly know how to use a credit card, even just from that welcome bonus for that first year, you'll be getting positive value.

Now, if you do want to get approved for this card, be sure to have a credit score of at least 700. You might think because it's a beginner's travel card that you might not need a higher score, but that's not going to be the case. You want to make sure you have a decent credit score for. There have been times where people with a 660 credit score still manage to slip through sometimes to a card like this, but at the end of the day the better your score is, the higher chance you'll have in getting approved.

Now Ladies and gents, keep in mind using the Chase Ultimate Rewards portal is very simple. I mean it's one of the reasons why a lot of people opt in for Chase compared to a competitor like American Express you can easily redeem hotels Airlines You can rent a car. There's a lot that you can do if you want to keep it simple, easy to use, and you happen to do a lot more domestic travel too. The Chase card is what I would recommend.

Now a few things to watch out for. Chase has something called the 524 rule which pretty much means that if you've opened up five or more credit cards within the last 24 months, you would get automatically denied for a card within them. If you haven't applied for that many cards or the two years has passed by and you're good to go, there are a few things I recommend you to do to make sure that you get approved. The first thing is to make sure that you have some type of relationship with the bank.

This could be a Freedom Card This could be a Chase checking account. This could also be just another weird product like a CD within chase that you've had open for a while. Having some type of history with them is going to point towards a bit more trust from the bank knowing that they can approve you without worry. Like I mentioned, having a good personal score is gonna go the longest way.

It's probably the biggest factor in getting you approved. But not only that, if you happen to some reason get denied for this card, what the credit card companies will always do is send you a letter in the mail telling you exactly why. If you read the reason why, it's like hey, you've opened too many cards, just wait a little bit or hey, your credit score is too low find ways to increase it. A lot of the problems that you guys might be dealing with and getting denied are all videos that I've made solutions with.

So if you guys did enjoy this review video, be sure to drop a like down below comment down below your credit score if you plan on applying for this card. I'd Love to see some data points on this stuff. and if you don't know how to get started with credit cards, you're just getting into the journey. I Made a full video called the Ultimate credit Card Guide.

Be sure to watch that. It's like a 30 40 minute video so you're gonna need to put a little bit of time into it On top of that. I Also have a Facebook group of over thirty thousand members called the Credit Society So if you guys want to go ahead and join me there, be sure to hit the link Down Below in the description to the newsletter and then I'll email you an invitation to the group. And not only that, if you guys do sign up for that newsletter, I'm actually giving away five personalized credit card binders now these are our prototypes, but it will come directly from myself and I will ship it out.

If you guys have a lot of credit cards you're trying to organize, this is one of the best things to do that with. Last but not least, if you guys are interested at all in applying for any one of these cards like I mentioned, be sure to check out the links Down Below in the comment section that is pinned there or check out the links Down Below in the description or scan the QR code here on your screen if you're watching it on your TV or your laptop like always. If you guys did enjoy this video, be sure to like subscribe. Follow me.

Twitter Instagram Everything is down below. Thank you all so much again for watching and until next time. Peace out.