“Bank program cards” are usually the worst piece of plastic you can carry from the standpoint of gaining elite status and redeeming miles. That’s because most of programs don’t offer many point-transfer options, and they set their own terms for redeeming points.
One exception is the Chase Sapphire Preferred card, which we recommended in the July 2011 issue because it allows point-transfer to a few airlines, among them British Airways and Continental.
The card just got even better by adding United as a transfer partner—and at a one-to-one redemption rate.
Card Highlights
- Alliance Trifecta—Point transfer partners: British Airways (oneworld), Continental and United (Star Alliance), and Korean Air (SkyTeam), all at a rate of 1:1.
- Transfer time: Up to seven business days.
- Buying points: 5,000 point-per-month limit at 2.5¢ per point, so in a year you could buy a maximum of 60,000 points—a cent per mile less than UA charges, saving you $600 annually. (Almost a free upgrade in and of itself!)
- Hotel point transfer partners: Hyatt Hotels and Resorts, InterContinental Priority Club, and Marriot.
- Fee: $95, waived for the first year.
- Bonus: 50,000 points if you spend $3,000 in the first three months after signing on. That’s equivalent to almost two free domestic upgrades.
You Should Get the Card If:
You want United miles, along with the flexibility to use another carrier: That’s because this is the only card that lets you transfer to two other airline alliances (British Airways/oneworld and Korean/SkyTeam), while still being able to earn miles on United. This cannot be done through Amex Membership Rewards and can be done through Starwood if you want to exchange your points at the abysmal rate of two points for one United mile.You want United miles as a back-up to your primary program: It’s a good second card if United competes with your preferred carrier at your home airport. Actually, the best.
You want 50,000 miles to use for free upgrades or an award mileage ticket: You just have to hit the $3,000 spending target within three months of getting the card.
You want to be able to buy more United miles: The card allows you to buy up to 5,000 miles per month or 60,000 miles annually. Combine that with the United buying limit of 100,000 miles per calendar year and you can net 160,000 miles annually. Plus Chase sells points for 2.5 cents, a penny per mile less than United.
You want a multi-airline card: The Chase Sapphire Preferred card, even though bank-managed, is a multi-airline card, providing access to the three major alliances. The only other cards that offer this are from American Express. Amex cards aren’t accepted everywhere so you’ll always need a good backup card.