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With its welcome combination of generous rewards and flexible redemption options, the Chase Sapphire Preferred Card is one of the most popular travel reward credit cards on the market.

The card has an enticing sign up offer that gives new cardholders 50,000 bonus points once you spend $4,000 in the first 3 months. That works out to the equivalent of $625 when you redeem your points for travel-related purchases through the Chase Ultimate Rewards website. You get 25% more value per point when you redeem them for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. You can also get an extra 5000 points after adding an authorized user who makes a purchase in the first 3 months.

	Chase Sapphire Preferred® Card Add to Favorites	$0 intro first year $95 annual fee	Earn 50,000 bonus points when you spend $4,000 on purchases in the first 3 months from account opening. That's $625 in travel when you redeem through Chase Ultimate Rewards® Read Review »
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	Chase Sapphire Preferred® Card
Apply Now Add to Favorites
Sign Up Bonus $0 intro first year $95 annual fee Earn 50,000 bonus points when you spend $4,000 on purchases in the first 3 months from account opening. That's $625 in travel when you redeem through Chase Ultimate Rewards® Annual Fee Already have this card? Maximize your rewards.
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Card members get 2x points on travel purchases. Chase has an attractively flexible definition of what constitutes travel, including such things as airlines, hotels, campgrounds, car rental agencies, cruise lines, travel agencies, buses, taxis, tolls, parking garages, Uber and more. Dining purchases are likewise awarded 2x points and include sit-down or eat-in establishments and fast food restaurants. You receive 1 point per $1 spent on all other purchases.

Chase Sapphire Preferred Cardholders can redeem their points for cash, gift cards, travel rewards and more. There are no blackout dates or restrictions—Chase promises that as long as there is a seat on a flight, you can book it. Cardmembers are also permitted to transfer their points (at a value of 1:1 point) to a variety of airline and hotel loyalty programs. Chase has a total of 11 hotel and airway partners. The airline transfer partners are British Airways, Korean Air, Singapore Airlines, Southwest Airlines, United Airlines, Air France/KLM Flying Blue and Virgin Atlantic. Hotel transfer partners are Hyatt, Intercontinental Hotel Group, Marriott and Ritz Carlton.

The card also features a wide array of additional useful benefits. It comes with purchase, return, price and extended warranty protection, as well as auto rental collision damage waiver, trip cancellation/interruption/delay insurance and baggage delay insurance.

There is an annual fee of $95, which is waived in the first year. There are no foreign transaction fees.

If you’re a frequent flier who spends a significant amount on travel and dining, then the Chase Sapphire Preferred card is a worthwhile option that gives you generous rewards and redemption versatility.

[Image via Getty]