Chase Sapphire Preferred: BiggerPockets Review
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Chase Sapphire Preferred is a travel credit card, often compared against its cousin, the Chase Sapphire Reserve. Preferred comes with a $95 annual fee (compared with $550 for the Reserve) and offers less substantial but still impressive travel perks.
- The Chase Sapphire Preferred credit card comes with a substantial 60,000 bonus points on sign-up—equivalent to $750 in travel when redeemed through the Chase Ultimate Rewards Portal.
- There’s a $95 annual fee, which is much less than the Chase Sapphire Reserve at $550, for lesser but still hefty travel benefits.
- There’s no foreign transaction fee for this travel-focused card.
- The card earns two points on travel and dining purchases, or one point per dollar on other purchases.
- Preferred comes with some new perks, including a subscription to DoorDash’s premium service, DashPass.
CURRENT SIGN-UP BONUS
The current sign-up offer is 60,00 bonus points after you spend $4,000 on purchases in the first three months after opening your account. It’s equivalent to $750 toward travel when redeemed through the Chase Ultimate Rewards portal. You’re eligible to receive it if you don’t have a Sapphire card and haven’t received a new cardmember bonus for any Sapphire card in the past 48 months.
People with good to excellent credit are likely to get approved. Apply with a minimum credit score in the high 600s, though approval for this card is less strict than for Chase’s Sapphire Reserve for which you might need a minimum credit score in the low 700s.
- Chase Sapphire Preferred comes with a hefty sign-up bonus, worth $750 in travel.
- You get major travel perks with this card, even though the annual fee is a somewhat modest $95—a far cry from the $550 annual fee of the Sapphire Reserve.
- There’s no fee to add additional users onto this card.
- The card comes with extra perks like free enrollment in DashPass, DoorDash’s subscription service, for at least a year.
- If you’re not traveling now due to the pandemic, you won’t get the most out of the card’s main benefit in normal times: travel perks.
- While the $95 annual fee is small compared to Chase’s Sapphire Reserve card, it still amounts to an expense some might choose to avoid with a low- or no-fee card.
- This card doesn’t offer an introductory APR.
- APR: 15.99 to 22.99 percent
- Annual fee: $95
- Balance transfer fee: $5 or five percent of the amount of each transfer, whichever is more
- Foreign transaction fee: $0