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Chase Sapphire Preferred

in Personal Credit Cards

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Chase Sapphire Preferred

Unaffiliated

in Personal Credit Cards

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Overview

Who is the Chase Sapphire Preferred Designed For?

The Chase Sapphire Preferred credit card is designed for frequent travelers with excellent credit. The Sapphire Preferred has both a large signup bonus and a generous rewards program. There is a hefty annual fee to consider, but it's waived the first year and the card's many benefits and perks more than justify it.

What are Chase's Sapphire Preferred Rates?

Rates for the Chase Sapphire Preferred range from a 17.49% APR to 24.49% APR for purchases and balance transfers. Cash advances have a rate of 26.49% APR.

Notice that the 15-month 0% APR intro rate is no longer available. However, this offer – or similar ones – do pop up from time to time.

What Are the Fees for the Chase Sapphire Preferred?

The Chase Sapphire Preferred has a $95 annual fee, which is waived the first year. Thera are no foreign transaction fees, a must for any travel credit card worth its salt. There is, however, a 5% balance transfer fee ($5 minimum) and a 5% cash advance fee ($10 minimum). Late payments incur fees ranging from $15 to $37 depending on whether the balance is less than $100, less than $250, or more than $250. The return payment fee is $37.

What Is Chase's Sapphire Preferred Rewards Program Like?

Chase uses Ultimate Rewards as its rewards program. As you would expect from a travel rewards card, the program is geared toward travelers and foodies. You get double points on dining and travel expenses, plus a 25% more value when you use points to make travel purchases on Chase's Ultimate Rewards program.

A special perk of the Ultimate Rewards program is that you can connect it to your Amazon account and make purchases with points. Points can also be transferred to participating frequent travel programs, such as British Airways Executive Club, Korean Air SKYPASS, United MileagePlus, and Marriot Rewards.

What about the Chase Sapphire Preferred Signup Bonus?

Chase Sapphire Preferred has a generous 50,000 points signup bonus for new customers. That is the equivalent of $625 toward travel when redeemed through the Chase Ultimate Rewards program. To qualify, you must spend $4,000 on credit card purchases during the first three months from opening your account. Balance transfers, cash advances and purchasing traveler checks do not qualify as purchases.

Does the Chase Sapphire Preferred Have Any Other Benefits?

Chase's Sapphire Preferred offers its cardholders prime travel and shopping benefits. These include trip cancellation insurance (up to $10,000), auto rental collision damage waiver, travel accident insurance, travel and emergency assistance services, lost luggage reimbursement, trip delay reimbursement (up to $500 per ticket) and baggage delay insurance (up to $500). It also provides extended warranty protection, price protection, return protection and purchase protection, which covers new purchases against theft and damage for four months (up to $500 per claim).

How Is Chase Sapphire Preferred Better Than Other Credit Cards?

The Chase Sapphire Preferred Card is simply one of the best prime travel credit cards available. It has a generous and flexible rewards program that allows cardholders to build up points quickly and provides multiple ways of redeeming points. There is a 1:1 cash-back equivalency on Amazon and you can transfer points to other reward programs. It has all the travel and shopping benefits (and more) you would expect from a prime travel card and still manages to squeeze in a 50,000-point signup bonus

The only catch is that it has a $95 annual fee starting from the second year and requires applicants to have excellent credit. However, if you are a frequent traveler and meet its stringent credit requirements, you should consider applying for the Chase Sapphire Preferred credit card.

SUPERMONEY Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Availability

Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Grace Period for Late Payment (Days)
21
Minimum Interest Charge
$0
Foreign Currency Transaction Fee
0%
No Annual Fee First Year
No Foreign Transaction Fee
Late Payment Penalty
$37
Returned Payment Fee
$37
Annual Fee
$95
Minimum Age
18
Credit Score Range
700 - 850
850 300 700
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Customer Type
Personal
Car Rental Insurance
Extended Warranty
Fraud Liability
Travel Insurance
Emergency Support
Flight Insurance
Lost Luggage Insurance
Credit Card Benefits
  • Auto Rental Collision Damage Waiver
  • Emergency Support
  • Extended Warranty Protection
  • Fraud Liability
  • Identity Theft Protection
  • Purchase Protection
  • Travel Accident Insurance
  • Travel Assistance
  • Trip Cancellation Insurance
Bonus Rewards
2x
No Blackout Dates
Every Purchase
1x
No Reward Expiration Period
Rewards Categories
  • Airfare
  • Every Purchase
  • Hotels
  • Restaurants
  • Trains, Cruises, Other Travel
Signup Bonus (points)
50,000
Purchase APR
(Variable APR)
17.49% - 24.49%
0% 29%
Cash Advance APR
(Variable APR)
Starting at
26.49%
Balance Computation
daily balance method (including new transactions)
Balance Transfer APR
(Variable APR)
17.49% - 24.49%
8% 29%
Transfer Fee
5%
Transfer Fee %
5%
Transfer Fee Minimum
$5

Reviews

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