Whether you travel for business or for pleasure, being a member of a credit card rewards program can go a long way towards managing your budget. There are several different credit card companies that offer these reward programs, and Chase is among them.
With the Chase Sapphire Preferred Credit Card, you can move redeemable points to other loyalty programs, including Hyatt and United Airlines. Not only will you have an opportunity to improve your savings but you can also have a lot of fun searching for the best strategy to get the most value out of this program.
With this in mind, this review will cover the benefits offered by the Sapphire Preferred Credit Card, its fees and charges, and provide a step-by-step guide on how to apply for this card.
Features and Benefits
Exciting Sign-Up Bonus
New cardholders can earn 60,000 points after $4,000 in purchases within the first three months. Hitting the spending threshold on everyday bills is the simplest path. Always confirm the current offer before applying.
Points Transfer
Points transfer at a 1:1 ratio to select airlines and hotels. Moving points only when a seat or room is available helps lock in value. Check partner availability and any transfer minimums first.
Multiply the Rewards
Earn 3x points on dining, groceries, food delivery, and streaming purchases. These categories align with frequent, everyday spending. Terms can change, so verify the current earn table.
Travel booked through Chase Ultimate Rewards earns 5x points, while other travel earns 2x. Portal bookings usually maximize returns on flights and hotels. Standard travel outside the portal still accrues at the base rate.
Yearly Statement Credits
On top of the excellent opportunity to earn rewards points for spending, cardholders of the Chase Sapphire Preferred Credit Card earn up to $50 in statement credits each year on the card account's annual anniversary.
The $50 credit applies to hotel stays booked via Chase Ultimate Rewards. Using the portal ensures proper tracking and automatic application. Keep confirmation emails for easy follow-up.
Fees and Charges
Fee review matters because it shapes total ownership cost. The overview highlights common charges tied to this card. Validate current rates on the issuer’s site before applying.
- Annual fee - $95
- Purchase APR - 20.49% to 27.49% variable
- Balance fransfer APR - 20.49% to 27.49%
- Cash advance APR - 29.49%
- Minimum interest charge - None
- My Chase Plan fee - 1.72%
- Cash advance fee - $10 or 5% of transaction, whichever is greater
- Balance transfer fee - $5 or 5% of transaction, whichever is greater
- Late payment fee - Up to $40
- Over limit fee - Up to $40
Sapphire Preferred Credit Card Eligibility Requirements
When it comes to travel credit cards that are highlighted by great reward programs, in most cases, you need to have a high-annual income to be eligible. Luckily, that is not the case with the Sapphire Preferred Credit Card.
However, you do need to have a good credit score that is between 690 and 850.
Additionally, you must be a US citizen or permanent resident, and 18 years old or older.
How to Apply
To apply, visit the official Chase website as a guest or as a signed-in user, which is faster and more reliable.
After you submit the inquiry with all of the required information and documents including name, residential address, date of birth, Social Security number, driver's license, or other identifying documents, you wil be met with an instant decision.
If approved, you will receive the card within 48 hours.
Bank Contact Details
To reach Chase Bank via phone, call 1 (800) 432-3117 for credit card support.
Chase bank's head office address is 270 Park Ave., New York, NY 10017, USA.
Summary
Throughout this article, you've learned the relevant fees and charges that pair with this credit card, as well as the features that you will get to experience as an owner of a Sapphire Preferred Credit Card.
It is up to you to make the final credit card choice based on your preferences and current needs!
Note: Consider the risks involved in using credit products before applying by consulting the issuing institution’s terms and conditions.
