Choosing the right credit card is an essential step for anyone looking to make the most of their spending. With so many options on the market, finding a card that offers the perfect balance of rewards, benefits, and practicality can feel overwhelming. That’s where the Chase Sapphire Preferred® Card shines.
Designed for individuals who enjoy traveling, dining, and earning significant rewards, this card is packed with perks that cater to a modern lifestyle. Whether you’re planning your next trip or looking to maximize everyday purchases, the Chase Sapphire Preferred® Card provides unmatched value and flexibility.
Key information about the credit card
How does the annual fee work?
The Chase Sapphire Preferred® Card charges an annual fee of $95, which is billed on the first statement after account opening and annually on the anniversary of your account. While the idea of paying an annual fee might deter some applicants, the benefits of this card far outweigh its cost for most users.
How is the credit limit determined?
When applying for the Chase Sapphire Preferred® Card, your credit limit is determined based on several factors, including your credit score, income, and current debt levels. Chase performs a thorough evaluation of your financial situation to decide on an appropriate limit, ensuring responsible lending practices and a good fit for your spending habits.
Advantages of the credit card
- Reward points on travel: Earn 5x total points on travel purchased through Chase Travel (excluding hotel purchases that qualify for the $50 Annual Chase Travel Hotel Credit). This makes the card an excellent companion for frequent flyers and road trip enthusiasts.
- Dining and entertainment rewards: Enjoy 3x points on dining, including eligible delivery services, takeout, and dining out, as well as on select streaming services and online grocery purchases (excluding Target, Walmart, and wholesale clubs).
- Flexible point redemption: Chase Ultimate Rewards® allows you to redeem points for travel, cash back, gift cards, or even transfer them to leading airline and hotel partners for added value.
- Generous sign-up bonus: New cardmembers earn 60,000 bonus points after spending $4,000 on purchases in the first three months. That’s a significant value for anyone looking to kickstart their rewards journey.
- No foreign transaction fees: Use your card abroad without worrying about additional charges, making it ideal for international travelers.
- Additional travel perks: Each account anniversary, you earn 10% bonus points on your total purchases from the previous year. Plus, enjoy built-in benefits like trip cancellation insurance, auto rental collision damage waivers, and more.
Standout advantage
One of the most impressive features of the Chase Sapphire Preferred® Card is the 25% bonus you receive when redeeming points through Chase Ultimate Rewards®. For instance, redeeming the 60,000-point sign-up bonus gives you $750 in travel value instead of the standard $600. This added value applies to flights, hotels, car rentals, and even experiences, making the card a powerhouse for travel enthusiasts.
Additionally, points can be transferred to a variety of travel partners at a 1:1 ratio, including popular airlines and hotel programs, allowing cardholders to unlock even greater redemption opportunities. This flexibility is unmatched among entry-level travel credit cards.
Disadvantages
- Annual fee: The $95 fee may not appeal to those who prioritize no-fee options.
- Limited bonus categories: While the card offers impressive rewards for travel and dining, everyday purchases outside these categories earn only 1 point per dollar.
- No introductory APR: This card lacks a 0% APR promotion for new purchases or balance transfers, which might deter those looking to consolidate debt or finance large purchases interest-free.
- High variable APR: With rates ranging from 20.74% to 27.74%, carrying a balance can become costly over time.
A standout disadvantage
The main drawback of the Chase Sapphire Preferred® Card is its focus on specific bonus categories. While the rewards for travel and dining are generous, purchases outside these categories earn only the base rate of 1 point per dollar. This can be limiting for cardholders whose spending habits include significant expenses in non-bonus categories, such as utilities or education.
Who can apply for this card?
The Chase Sapphire Preferred® Card is designed for individuals who meet specific eligibility criteria. Applicants must be at least 18 years old and possess a valid Social Security Number or Individual Taxpayer Identification Number. A good to excellent credit score (typically 700 or above) is generally required, and Chase also considers your income, existing debts, and financial history.
This card is not available to those who currently hold a Sapphire card or have received a new cardmember bonus for any Sapphire card within the past 48 months. While it is not specifically marketed to individuals with poor credit, those with strong financial profiles will find it a valuable addition to their wallet.
How to apply for the Chase Sapphire Preferred® Card
For the website
To apply for the Chase Sapphire Preferred® Card online, visit Chase’s official website and navigate to the card’s dedicated page. Once there, click on the “Apply Now” button to begin the process. You’ll need to provide personal details such as your name, address, and Social Security Number, along with information about your income and employment.
The online application typically provides an instant decision. However, if your application requires further review, Chase will notify you via email or mail within a few business days. This method is ideal for those who value convenience and want to complete their application quickly.
Through the app
The Chase mobile app offers another straightforward way to apply for the Sapphire Preferred® Card. Start by downloading the app from your device’s app store. If you’re a new user, create a Chase account and log in. Navigate to the credit card section and select the Chase Sapphire Preferred® Card to begin your application.
Once you’ve filled out the necessary information, the app allows you to submit your application seamlessly. This option is perfect for those who manage most of their finances digitally and want to keep the entire process mobile.
At the branch
If you prefer a more personal approach, you can visit a Chase branch to apply for the Sapphire Preferred® Card. Speak with a representative who can walk you through the application process, clarify any doubts, and ensure you provide all required documents. This method is particularly beneficial for applicants with unique financial circumstances or those who appreciate face-to-face interaction.
