| Last updated on April 1st, 2024
Chase Sapphire Preferred
Chase Sapphire Preferred
Chase Sapphire Preferred
- 21.49% to 28.49% variable based on creditworthiness and Prime Rate Regular Purchase APR
- 21.49% to 28.49% variable based on creditworthiness and Prime Rate Balance Transfer APR
- 29.99% variable based on Prime Rate Cash Advance APR
At a Glance
For customers with a hunger for travel and (literally) dining, the Chase Sapphire Preferred® Card offers a robust set of rewards and perks to ensure that they get the most out of their purchases. Plus, a sizable introductory bonus allows them to begin collecting – and redeeming – points immediately.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Travel℠.
- Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠. For example, 60,000 points are worth $750 toward travel.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.
- Member FDIC
- Regular Purchase APR: 21.49% to 28.49% variable based on creditworthiness and Prime Rate
- Balance Transfer APR: 21.49% to 28.49% variable based on creditworthiness and Prime Rate
- Balance Transfer Transaction Fee: Either $5 or 5% of each transfer amount, whichever is greater
- Cash Advance APR: 29.99% variable based on Prime Rate
- Cash Advance Transaction Fee: Either $10 or 5% of each transaction amount, whichever is greater
- Penalty APR: Up to 29.99% variable based on the Prime Rate
- Annual Fee: $95
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $40
- You travel often enough to make up for the annual fee
- You'll take advantage of the travel insurance and other emergency perks
- You're looking for flexibility when it comes to rewards, with the option to redeem for gift cards, flights and more
- You plan to maximize your points by redeeming through Chase Ultimate Rewards®
- You have a very good to excellent credit score, and can meet the spending requirement for the introductory bonus
In-Depth Review: Chase Sapphire Preferred
The Chase Sapphire Preferred® Card’s biggest selling point is its traveler-friendly nature. An excellent welcome offer and 3X (but up to 5X) on many eligible purchases within the travel and dining categories set cardholders up for a steady stream of rewards.
How to Get the Card
Getting Chase credit cards is straightforward, with the Sapphire Preferred no different. Applicants will need a “good” or “excellent” credit score. Applying for credit cards from Chase is similar across all cards, including the Sapphire Reserve. You’ll need the following information to apply:
- Aged 18 or older
- S. mailing address (no PO Boxes permitted)
- SSN or ITIN
- FICO Score above 670 (good)
- Proof of income
How to Earn Rewards
Welcome Offer
The Chase Sapphire Preferred Card starts you off on a high note with a generous introductory bonus of 60,000 points. You must spend at least $4,000 in your first three months as a cardholder to earn this major reward boost.
Earn Up to 5X
In addition to the bonus, the Sapphire Preferred Card allows you to earn up to 5X points for every dollar spent. That 5X point applies to all travel purchased through Chase Ultimate Rewards, though other travel purchases earn an impressive 2X points per dollar spent.
The Sapphire Preferred also enjoys enhanced Ultimate Rewards earning potential in other categories, including:
- 3x points on dining, including eligible delivery services, takeout, and dining out (previously 2x)
- 3x points on select streaming services
- 3x points on online grocery purchases (excluding Target, Walmart, and wholesale clubs)
As an extra incentive, Chase rewards you with an additional point boost when you refer a friend. Most importantly, your points don’t expire.
How to Redeem Rewards
Regardless of whether you plan a weekend road trip or a month-long overseas getaway, you can use the Chase Sapphire Preferred® credit card for any, if not every, point in your vacation. Namely, you can redeem your points for:
| Statement credits | Gift cards | Travel |
| Shopping | Charitable donations | Transfers with partners |
However, you don’t have to worry if you’re already a member of a travel loyalty program; this card also allows you to transfer your rewards to partnered programs at a 1:1 ratio, so you don’t lose any value. Eligible loyalty programs include:
| Aer Lingus (AerClub) | Air France/KLM (Flying Blue) | Emirates (Skywards) |
| Air Canada (Aeroplan) | British Airways (Executive Club) | Iberia Plus |
| JetBlue (TrueBlue) | Southwest (Rapid Rewards) | Singapore Airlines (KrisFlyer) |
| Virgin Atlantic (Flying Club) | United Airlines (MileagePlus) | IHG Rewards |
| Marriott Bonvoy | World of Hyatt |
Travel Benefits
While not as impressive as the Sapphire Reserve when it comes to travel perks, the Sapphire Preferred still offers plenty of value for its $95 annual fee. First, cardholders enjoy a $50 annual credit on hotel stays purchased through Ultimate Rewards.
Travel Insurance
If you’re the type of traveler who likes to be prepared for anything, the Chase Sapphire Preferred® Card has you covered. Along with bonus points, your cardholder status makes you eligible for several types of emergency coverage. This includes:
- Travel insurance: $10,000 per person for trip cancellation or interruption on nonrefundable travel costs
- Trip reimbursement coverage up to $500 per ticket for flights delayed over 12 hours
- $100 per day reimbursement for essentials when your bags are delayed more than 6 hours
- Collision insurance for car rentals when you waive coverage with the rental company
- Purchase protection for damage and theft up to 120 days after a purchase
- Extended manufacturer’s warranties on eligible items
Remember that, like coverage with other travel rewards cards, there are certain limitations and restrictions. For example, the trip cancellation insurance is capped at $20,000 per trip. Your circumstances must also fall under a covered situation, such as hostile weather or sickness.
Visa Signature Benefits
| Zero Fraud Liability | Cardholder Inquiry Services | Emergency Card Replacement | Luxury Hotel Collection | Extended Warranty Coverage |
| Roadside Dispatch | Lost/Stolen Card Reporting | ID Navigator from Norton | Travel & Emergency Assistance |
Comparisons
| Citi Premier® | Citi Custom Cash℠ | Chase Sapphire Preferred | |
|---|---|---|---|
| Rewards | Earn 3X points on dining, groceries, gas stations, air travel, and hotel stays, plus 1X on all other purchases | Earn 5% on purchases on your highest eligible spend category each billing cycle up to $500 spent, plus 1% on all other purchases | Earn 5X on travel purchased through Chase Ultimate Rewards, 2X on all other travel purchases, 3X on dining, 3X on groceries and streaming services, and 1X on all other purchases |
| Other | $100 annual hotel credit | 0% intro APR for 15 months from account opening on purchases and balance transfers | $50 annual hotel credit |
| Annual fee | $95 | $0 | $95 |
Dining Comparison
| Chase Sapphire Preferred | Capital One® Savor® Rewards | American Express® Gold Card | |
|---|---|---|---|
| Rewards rate | Earn 5X on travel purchased through Chase Ultimate Rewards, 2X on all other travel purchases, 3X on dining, 3X on groceries and streaming services, and 1X on all other purchases | Earn unlimited 4% back on dining & entertainment, plus 3% back on groceries, and 1% on all other purchases | Earn 4X Membership Rewards® points at Restaurants, including takeout and delivery in the U.S., plus at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X), 3X on flights booked directly with airlines or through Amex, and 1X on all other purchases |
| Credits | $50 hotel | $9.99/month Postmates | $240 (dining/ Uber Eats) |
| Annual fee | $95 | $95 | $250 |
What We Like About the Sapphire Preferred
The Chase Sapphire Preferred provides enough value to justify the annual fee. That’s because the card has a firm grasp on exactly what it wants to be.
The Sapphire Preferred is a great budget travel credit card. By budget, we mean it provides plenty of great travel perks for a more modest $95 annual fee (compared to the $150 annual fee with the American Express Green Card or the $595 fee with the Sapphire Reserve).
The Sapphire Preferred comes with a straightforward hotel statement credit each year, plus essential protections travelers need, like car rental insurance, lost luggage reimbursement, baggage delay, and more.
Another travel-related perk of the Chase Sapphire Preferred Card is access to the Chase Ultimate Rewards travel portal. This portal allows you to book flights, hotels, and rental cars directly through Chase, giving you the convenience of a one-stop shop for all your travel needs. Plus, when you book through the portal using your Chase Sapphire Preferred Card, you’ll earn 25% more value for your points.
Things to Consider
Despite the great features, there are still things to consider with the Chase Sapphire Preferred Card. These include the foreign transaction fees, making it less favorable for international use than other travel-focused credit cards with no foreign transaction fees.
FAQs
Here are some of the most commonly asked questions regarding the Chase Sapphire Preferred Visa Signature, along with the answers:
- Chase credit cards require a good or excellent credit score to qualify.
- Chase Ultimate Rewards points are worth one cent per point ($0.01/point). That said, Chase Sapphire cardholders enjoy even more value thanks to enhanced redemption rates through Ultimate Rewards. The Sapphire Preferred Card earns 25% more on travel, for example, or 1.25 cents per points. The Sapphire Reserve enjoys 50% more value, or 1.5 cents per point when redeeming through Chase Ultimate Rewards for travel.
- Chase Ultimate Rewards points won’t expire as long as your credit card account stays open and in good standing.
- Chase’s 5/24 rule means that you can’t be approved for most Chase cards if you’ve opened five or more personal credit cards (from any card issuer) within the past 24 months.
- Chase will often automatically increase your credit limit about every 12 months, but an increase is never guaranteed.
- The Chase Sapphire Preferred Card and the Chase Sapphire Reserve® are both made out of metal.
- Chase credit, debit, and banking products are available in all 50 U.S. states plus the District of Columbia.
Chase Rating
How does Chase stack up? Here are a selection of expert reviews for the card, as well as an overview of JP Morgan Chase as a bank:
| BestCards | Better Business Bureau | TrustPilot |
|
4.5/5 |
3.5/5 |
2/5 |
Should You Apply for the Chase Sapphire Preferred®?
To make the most of the Chase Sapphire Preferred Card – especially its $95 annual fee – customers will have to make a habit of using the card often. This card rewards those who reward themselves, so individuals planning to only make occasional purchases in other areas of consumption should consider a different credit card.
Meanwhile, if you’re looking for more impressive rewards and don’t mind the $550 annual fee, you can consider the Chase Sapphire Reserve® Card. When comparing the Chase Sapphire Preferred vs Reserve cards, you’ll notice several differences. Namely, the Reserve offers an extra point for dining and travel, a generous statement credit and even more value when you redeem through Ultimate Rewards.
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