Two popular travel rewards cards are the Chase Sapphire Preferred® Card and the Alaska Airlines Visa® credit card.
The Sapphire Preferred is one of the most popular travel rewards cards because it offers nice welcome bonus and extra points on travel and dining, which can be transferred to airline and hotel partners or redeemed directly for travel at a rate of 1.25 cents per point through Chase Travel℠. The Sapphire Preferred also offers great travel and purchase protections for a card with a $95 annual fee.
The Alaska Visa offers valuable perks for frequent Alaska flyers, including a free checked bag and an annual companion fare from $122 when meeting spending requirements. This card excels with its ability to earn hard-to-get Alaska miles, which provide exceptional value when redeeming for partner airline flights, especially in premium cabins.
This article will compare each card based on several factors to help you make an informed decision on which card is the best to add to your wallet.
Full Review: Chase Sapphire Preferred® Card and Alaska Airlines Visa® credit card.
Overview: Sapphire Preferred vs Alaska Visa
Welcome Bonus
Chase Sapphire Preferred:
Let’s begin with one of the most attractive aspects of the Chase Sapphire Preferred: the welcome bonus. Currently, new cardholders can earn the following welcome bonus:
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Alaska Airlines Visa:
The Alaska Airlines Visa currently offers the following welcome bonus:
Receive 60,000 Miles plus Alaska’s Famous Companion Fare after making $3,000 in purchases within the first 90 days; Additionally, receive a 30% flight discount code after account opening.
Earning Points
Chase Sapphire Preferred:
The Chase Sapphire Preferred earns Ultimate Rewards points and offers bonus points on spending in several categories:
- 5 points per dollar on travel booked through Chase Travel;
- 5 points per dollar on Lyft purchases (through March 2025);
- 5 points per dollar on Peloton equipment and accessory purchases of $250 or more (through March 2025, with a limit of 25,000 bonus points);
- 3 points per dollar on dining, including eligible delivery services, takeout, and dining out;
- 3 points per dollar on online grocery store purchases (excludes Target, Walmart, and wholesale clubs);
- 3 points per dollar on select streaming services;
- 2 points per dollar on all travel not booked through Chase Travel; and
- 1 point per dollar on all other eligible spending.
Alaska Airlines Visa:
The Alaska Airlines Visa earns Alaska miles at the following rates:
- 3 miles per dollar on Alaska Airlines purchases;
- 2 miles per dollar at gas stations;
- 2 miles per dollar on cable and streaming services;
- 2 miles per dollar on local transit, including rideshare, trains, tolls, ferries, and more; and
- 1 mile per dollar on all other eligible purchases.
Winner:
The Chase Sapphire Preferred offers more points in more categories than the Alaska Visa.
Card Benefits
Chase Sapphire Preferred:
The Chase Sapphire Preferred offers nice benefits, including:
10% Points Bonus: You will earn bonus points equivalent to 10% of your total spending in points earned with your Chase Sapphire Preferred Card during the past account anniversary year. For example, if you spent $10,000 during your cardmember year, you would receive an additional 1,000 points ($10,000 * 10% = 1,000 points).
$50 Hotel Credit: The Chase Sapphire Preferred card offers up to $50 in statement credits every account anniversary year if you book your hotel stays through Chase Travel.
DashPass Membership: This card offers a one-year DashPass membership for free, which includes DoorDash and Caviar, offering unlimited deliveries with free delivery fees and reduced service fees for eligible purchases. The offer must be activated by December 31, 2027. Once the free membership is over, you will be automatically enrolled in DashPass at the prevailing monthly rate.
Instacart Membership: Have your groceries delivered to your doorstep with a complimentary 6-month Instacart+ membership plus a $15 credit once every quarter. Enrollment is required by July 31, 2024.
No Foreign Transaction Fees: You’ll save money on every purchase while traveling internationally since this card doesn’t add the typical 3% surcharge that many other cards impose.
Travel Benefits
Primary Rental Car Insurance: When you rent a car and pay with this card, you’ll receive comprehensive coverage including damage and theft protection. Simply decline the rental company’s collision damage waiver and charge the entire rental to your card to activate coverage. This insurance covers damage, theft, and valid loss-of-use charges worldwide.
Trip Cancellation & Interruption Insurance: This protection reimburses you for non-refundable, prepaid travel expenses if you need to cancel before departure or cut your trip short due to covered situations like severe illness or weather events. Coverage activates when you pay for your trip with the card, but it’s important to note that reimbursement only applies for specific covered reasons rather than any cancellation.
Trip Delay Insurance: When your trip is significantly delayed due to covered reasons like equipment failures or severe weather, this protection reimburses you for reasonable expenses including lodging, meals, toiletries, and medication. The coverage activates when you pay for travel with your card and extends to family members on the same itinerary, though you’ll need to seek reimbursement from the travel carrier first.
Lost Luggage Reimbursement: Your checked luggage gets extra protection against loss, theft, or damage beyond the basic compensation offered by carriers when you pay for travel with this card.
Baggage Delay Insurance: Missing luggage doesn’t have to derail your trip – this coverage steps in to reimburse you for essential purchases when your checked bags are delayed by airlines, trains, or other carriers. You can grab the necessities you need, from a fresh outfit to personal care items, while waiting for your bags to arrive.
Purchase Benefits
120-Day Purchase Protection: Get 120 days of protection against damage, theft, and even loss of your purchases – one of the longest windows available. This premium coverage automatically applies when you pay with your card.
Extended Warranty Protection: Your purchases gain an extra year of warranty protection when bought with this card, extending manufacturer warranties of three years or less without the inflated prices of store warranty plans.
Alaska Airlines Visa:
The Alaska Airlines Visa offers the following benefits for its cardholders:
Free Checked Bag: You and up to six guests on your reservation can check their first bag free when using the card for ticket purchases. Authorized users can also enjoy this perk when booking their tickets with the card, making it perfect for families who want to save on baggage fees.
Priority Boarding: Skip the regular boarding line with priority boarding access for you and up to six guests on your reservation. You’ll need to use your card for the ticket purchase to unlock this benefit, and authorized users can also get priority boarding when paying with the card.
Annual Companion Fare: Score a companion ticket from $122 ($99 fare plus taxes starting at $23) when you spend $6,000 in your card anniversary year. You can use this benefit for one-way or roundtrip flights anywhere Alaska flies, including Hawaii, Costa Rica, and Mexico, and your companion will even earn miles and be eligible for upgrades.
Elite Miles Earning: Starting in 2025, you’ll earn one elite qualifying mile for every $3 spent on the card, up to 30,000 EQMs annually. For 2024, you can earn 4,000 EQMs for every $10,000 spent, up to 20,000 EQMs after $50,000 in spending.
20% In-Flight Savings:Save 20% on all inflight purchases, including food, beverages, and even Wi-Fi, when you pay with your card. The statement credit posts within seven days, and there’s no limit to how often you can use this benefit.
Lounge Discount: Get $100 off an Alaska Lounge+ annual membership when using your card for the purchase. This membership gives you access to all Alaska Lounges plus nearly 100 partner lounges worldwide, including American Admirals Clubs.
Potential 10% Rewards Bonus: If you have an eligible Bank of America account, you can earn a 10% rewards bonus on all miles from card purchases.
No Foreign Transaction Fees: You’ll save money on every purchase while traveling internationally since this card doesn’t add the typical 3% surcharge that many other cards impose.
Winner:
The Chase Sapphire Preferred offers more travel and purchase protections than the Alaska Visa making it a better option for most people.
Value of the Annual Fee
Chase Sapphire Preferred:
The Chase Sapphire Preferred has a $95 annual fee, which may give some people pause. However, as a frequent traveler, I’ve found that the card’s benefits and rewards can easily offset this cost.
Think about it this way: if you take advantage of the welcome bonus and redeem those points for travel, you’ve already recouped the annual fee many times over. Plus, the ongoing rewards and perks like travel insurance, hotel credit, and no foreign transaction fees can save you money and provide peace of mind during your trips.
Alaska Airlines Visa:
The Alaska Airlines Visa Signature® credit card has a reasonable $95 annual fee, which is consistent with many other co-branded airline credit cards. The card’s benefits that help offset the annual fee include a free checked bag for you and up to six guests, priority boarding, 20% back on inflight purchases, a valuable companion fare (when spending $6,000 per year), and a $100 discount on Alaska Lounge+ membership.
Winner:
It depends on how much you fly Alaska Airlines to take advantage of the free checked bag. If you don’t use this benefit, the Chase Sapphire Preferred is a better value with its superior travel and purchase protections and special benefits.
Redeeming Points
Chase Sapphire Preferred:
The Chase Sapphire Preferred offers exceptional flexibility when it comes to points redemption, allowing you to create the travel experiences you’ve been dreaming of.
One popular redemption option is booking travel through the Chase Travel portal. Here, your points are worth 1.25 cents apiece, meaning that a substantial amount of points can be redeemed for a significant value towards travel. I’ve used this option to book flights, hotels, and rental cars, and I appreciate the simplicity of the process. Plus, when you book through the portal, you can still earn airline miles and hotel points on your reservations.
If you’re looking to stretch your points even further, transfer to Chase’s airline and hotel partners. Some notable transfer partners include United Airlines, Southwest Airlines, British Airways, Air France/KLM, Hyatt, and Marriott. By strategically transferring points, you can unlock incredible redemption opportunities like first-class flights or luxurious resort stays.
In my experience, transferring points to Hyatt has yielded some of the most valuable redemptions. By leveraging my Ultimate Rewards points, I’ve booked top-tier properties like the Park Hyatt Paris-Vendôme and the Andaz Maui at Wailea Resort for a fraction of the cash price.
Of course, if you’re not in the mood for travel, you can always redeem your points for statement credits or gift cards at a rate of 1 cent per point. While this may not provide the most bang for your buck, it’s a decent option to have for those times when you need a little extra cash in your pocket.
Ultimate Rewards Transfer Partners [1 to 1]
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Aer Lingus
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Air Canada Aeroplan
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Air France/KLM
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British Airways
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Emirates
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Hyatt Hotels
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Iberia
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IHG Hotels
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JetBlue
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Marriott
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Singapore
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Southwest
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United
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Virgin Atlantic
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Alaska Airlines Visa:
Alaska Airlines Mileage Plan offers outstanding value for travelers from North America through its partnerships with premier carriers like American Airlines, British Airways, Cathay Pacific, and Japan Airlines. These alliances open up a world of possibilities for both domestic and international travel.
For flights within North America, Mileage Plan’s distance-based pricing is particularly attractive. Short-haul economy flights under 700 miles can be booked for just 4,500 miles, while flights between 701 and 1,400 miles cost only 7,500 miles. This makes Mileage Plan an excellent choice for domestic travel, especially on routes operated by Alaska or American Airlines.
International travelers from North America can take advantage of some impressive sweet spots. Flying from the Northeast US to London in business class costs just 45,000 miles. For those looking to explore Asia, you can book a business class flight from the US with a stopover for 85,000 miles. This generous stopover policy allows you to effectively visit two destinations for the price of one.
Flights to South America also offer good value. Business class awards from North America to destinations like Lima or São Paulo can be booked for 35,000 to 50,000 miles, depending on the distance.
To maximize value when redeeming from North America, focus on shorter domestic flights, leverage stopovers on long-haul international itineraries, and look for premium cabin awards on Alaska’s great partners.
Winner:
Tie. The Chase Sapphire Preferred offers more rewards flexibility, but Alaska Airlines miles are quite valuable and offer the ability to travel anywhere in the world.
The Verdict
Both the Chase Sapphire Preferred and Alaska Airlines Visa are excellent card choices, but they offer different advantages for travelers.
The Sapphire Preferred is a better option if you fly multiple airlines each year and want travel protections like trip delay insurance, primary rental car insurance, and more.
The Alaska Airlines Visa could be a better option if you can take advantage of the free checked bag benefit at least several times per year.
Which card are you going to choose?
