
Introduction
Intro APR | 0% for 12 months |
Annual Fee | $0 first year |
APR Range | 18.24%–25.24% variable APR |
About the Chase Sapphire Preferred Rewards Card
Chase Sapphire Preferred is a premium travel and dining rewards card that doubles the reward points on travel and dining purchases. There is no introductory interest rate and no foreign transaction fee. Travel redemption is worth 25% more if redeemed through Chase Ultimate Rewards than if redeemed for cash.
Benefits
Chase Sapphire Preferred has an excellent sign-up bonus of 50,000 points ($625 toward travel) after spending $4000 in the first three months of opening the account. By doubling the reward points on travel purchases, frequent travelers are able to make the most out of using this credit card. If you already have a frequent travel program, you can easily transfer your points to any of the airline or hotel rewards programs that Chase partners with at a 1:1 point value. For the first year, there is no annual fee.
Drawbacks
After the first year, this credit card has a high annual fee of $95, so it is not a good fit if you do not travel and dine out frequently enough to justify paying the fee. Another potential drawback is that you will get double rewards points only on travel and dining, while some competing credit cards have double the points for all purchase categories.
How To Get The Chase Freedom Card
To qualify for a Chase Sapphire Preferred Card, it’s recommended that you have a credit score of 750 or more. Chase also has a 5/24 rule that says you can’t open another Chase account if you have opened more than 5 Chase credit cards in the past 24 months. You must be at least 18 years old and must have a verifiable income to qualify.
About Chase Bank
Chase Bank, or JPMorgan Chase & Co as they are also known, is one of the biggest global financial services firms worldwide. In the US, they have branches in all 50 states and a state of the art online banking platform. Their services include consumer checking and credit cards, mortgages, commercial banking, auto loans, investing & retirement planning, and business banking.