Chase Sapphire Preferred or Costco Anywhere Visa — Which One Fits Your Lifestyle?
You’re juggling the idea of a new credit card, but the choice between travel rewards and cash-back savings has you stuck. The Chase Sapphire Preferred and Costco Anywhere Visa are both heavy hitters in their own fields, promising to save you money and earn rewards—if you pick the right one for your lifestyle.
| Feature | Chase Sapphire Preferred | Costco Anywhere Visa |
|---|---|---|
| Annual Fee | $95 | ✓ None (with Costco membership) |
| Rewards Categories | Travel, Dining | Gas, Travel, Dining, Costco |
| Sign-Up Bonus | 60,000 points | ✗ None |
| Foreign Transaction Fees | ✗ None | ✗ None |
| Cash Back Rate | 1% on non-category purchases | 1% – 4% |
| Travel Insurance | ✓ | ✗ |
✅ chase sapphire preferred Pros
- Strong travel rewards and dining benefits.
- Robust travel protection features.
- High-value sign-up bonus.
❌ chase sapphire preferred Cons
- $95 annual fee.
- Lower cash back on non-category purchases.
- No direct cash back option.
✅ costco anywhere visa Pros
- No annual fee with a Costco membership.
- High cash back rates on gas and travel.
- Versatile rewards across multiple categories.
❌ costco anywhere visa Cons
- Requires Costco membership to apply.
- Cash back redeemed only once a year.
- No sign-up bonus.
Rewards and Benefits
When it comes to maximizing your rewards, the Chase Sapphire Preferred shines with its lucrative travel and dining points. If you’re a frequent traveler or dining enthusiast, these points can quickly add up to free flights or hotel stays. However, if your spending leans more towards everyday expenses like gas and groceries, the Costco Anywhere Visa might be your better bet. With its 4% cash back on gas and 3% on dining and travel, this card offers significant savings without needing to chase points.
Annual Fees and Memberships
The Chase Sapphire Preferred comes with a $95 annual fee, which might make you pause. Yet, the value can easily outweigh the cost if you capitalize on the sign-up bonus and travel rewards. On the flip side, the Costco Anywhere Visa has no annual fee, but there’s a catch—you need a Costco membership. If you’re already a member, this is a non-issue, but it could add extra cost if you’re not.
Flexibility and Usability
Flexibility is key, and here’s where the Costco Anywhere Visa offers an edge with its broad cash back categories. The Chase Sapphire Preferred, while offering excellent travel perks, is less versatile for everyday purchases unless you’re dining out frequently. If you want straightforward cash back without juggling point conversions, Costco’s card might be the simpler choice. However, for those valuing travel insurance and priority pass lounges, Chase has its unique perks.
The Costco Anywhere Visa’s annual cash back redemption can be a bit of a buzzkill. You have to wait until February to get your rewards. Also, while Chase Sapphire Preferred offers enticing travel benefits, these can be redundant if you already have a travel insurance policy. Both cards have their fine print that could affect their value, so read the terms carefully.
Our Final Verdict: Which One Should You Buy?
If you’re a travel aficionado who loves dining experiences and can make the most of travel perks, the Chase Sapphire Preferred is your go-to card. It’s perfect for those who don’t mind paying an annual fee to earn rewards that can quickly offset the cost. On the other hand, the Costco Anywhere Visa is ideal for the everyday spender, especially if you’re a Costco member. Its generous cash back on gas, travel, and dining, all without an annual fee, make it a practical choice for the budget-conscious.
Is the Costco Anywhere Visa worth it if I don’t shop at Costco often?
If your spending habits align with the high cash back categories like gas and travel, it can still be worth it, but the membership requirement might be a dealbreaker.
How long does it take to earn enough rewards with the Chase Sapphire Preferred?
If you capitalize on the sign-up bonus and use the card primarily for travel and dining, you can quickly see significant rewards within the first year.
Can I use either card internationally without fees?
Yes, both cards waive foreign transaction fees, making them suitable for international travel without incurring extra charges.
