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Chase Sapphire Preferred Card
Chase Sapphire Preferred Card: The Premier Travel Rewards Credit Card
The Chase Sapphire Preferred Card is a highly regarded credit card issued by Chase Bank, tailored for travel enthusiasts and reward-seekers alike. This card stands out for its exceptional rewards structure, generous sign-up bonuses, and a plethora of benefits that cater to a variety of consumers.
Card Type
The Chase Sapphire Preferred Card falls under the category of travel rewards credit card. It is designed to help users earn rewards on everyday spending while providing extensive travel perks, making it a preferred choice for travelers.
Annual Fee
The card does carry an annual fee of $95. However, this fee can be easily offset by the rewards earned through daily purchases, especially for frequent travelers.
Rewards Program
The rewards structure is one of the card’s most compelling features. Cardholders earn 2 points per dollar on travel and dining at restaurants and 1 point per dollar on all other purchases. Points can be redeemed for travel, cashback, gift cards, or through the Chase Ultimate Rewards program for greater value.
Sign-Up Bonus
Upon meeting the spending requirement, new cardholders can earn a substantial sign-up bonus of 60,000 points after spending $4,000 on purchases in the first 3 months from account opening. This bonus alone is worth $750 when redeemed for travel through the Chase Ultimate Rewards program.
APR (Annual Percentage Rate)
The standard APR for the Chase Sapphire Preferred Card ranges between 20.24% – 27.24%, depending on creditworthiness. There is no introductory APR offer available for purchases or balance transfers.
Foreign Transaction Fees
For those who travel internationally, it’s important to note that the Chase Sapphire Preferred Card does not charge foreign transaction fees, making it an ideal choice for users traveling abroad.
Balance Transfer Options
While the card does not feature promotional balance transfer offers, cardholders can still perform balance transfers with a fee of 5% or $5, whichever is greater. This is essential for those looking to consolidate credit card debt.
Additional Fees
Aside from the annual fee, cardholders should be aware of other possible fees, including late payment fees which can be up to $40, and cash advance fees which can significantly add to costs.
Card Benefits and Perks
The Chase Sapphire Preferred Card offers numerous benefits to enhance the travel experience. These include comprehensive travel insurance, trip cancellation insurance, access to exclusive dining experiences, and up to 2x points on travel and dining purchases. Additionally, cardholders gain access to the Luxury Hotel & Resort Collection, which includes complimentary room upgrades and early check-in.
Customer Protections and Insurance
Chase provides robust customer protections with this card. Cardholders enjoy fraud liability protection, purchase protection against theft or damage for a limited time, and rental car insurance, which can serve as primary coverage when renting a vehicle.
Eligibility and Credit Score Requirements
To qualify for the Chase Sapphire Preferred Card, applicants typically need a credit score of about 700 or higher. This requirement aligns well with other premium travel rewards cards, making it accessible for those with good to excellent credit.
Introductory Offers
While there are no introductory 0% APR offers for this card, the lucrative sign-up bonus is a significant incentive for new applicants.
Special Features or Unique Selling Points
The Chase Sapphire Preferred Card is unique due to its partnerships with various travel platforms and the ability to transfer points to over 14 airline and hotel loyalty programs. This flexibility allows cardholders to maximize their rewards and tailor them to their travel needs.