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Chase Sapphire Preferred® Card review
An excellent card with a welcome offer worth $1,000 in value.
finder.com’s rating: 4.3 / 5
★★★★★
- Get this card if you want a signup bonus worth up to $1,000, and you want to dip your toes into the Chase Ultimate Rewards program.
- Pick something else if you don’t plan on transferring your earned points or want more travel perks.
- Apply with a good to excellent credit score of 670 or higher.
80,000
Points as welcome offer
Up to 5x
Points
$95
Annual fee
15.99% to 22.99%
Purchase APR (variable)
Details
| Annual fee | $95 |
|---|---|
| Welcome Offer | 80,000 points after spending $4,000 in the first 3 months, a value of up to $1,000 through Chase Ultimate Rewards. Plus up to $50 statement credit towards groceries |
| Rewards | 5x points on Lyft, 2x points on up to $1,000 on groceries until April 30, 2021, 2x points on travel and dining and 1x points on all other purchases |
| Purchase APR | 15.99% to 22.99% variable |
| Balance transfer APR | 15.99% to 22.99% variable |
| Recommended minimum credit score | 670 |
| Issuer | Visa |
Review by
Megan Horner
megan.horner@finder.comMegan Horner is the credit cards publisher at Finder. She's passionate about helping you find the best credit cards to meet your financial needs — whether that's earning great rewards or improving your credit score. Megan's expertise has been spotlighted on Lifehacker, CreditCards.com, American Banker and featured on news broadcasts across the country.
Expert review
How to apply for the Chase Sapphire Preferred® Card
- Click Apply now.
- Complete the application with details like your name, address, annual income and Social Security number.
- Review and submit your application.
How long will it take to be approved?
Because approval is automated on the Chase website, you’re likely to get a decision within minutes. If there are issues with your application, it could take up to a few weeks to hear back.
Age requirements
To apply for the Chase Sapphire Preferred® Card, you must be at least 18 years old in most places. The minimum age requirement bumps up to 19 for residents of Alabama and Nebraska and 21 in Puerto Rico.
Required documents and information
- Your name, residential status and address
- Your Social Security number and date of birth
- Your email address and phone number
- Financial information, like your annual salary and wages
What credit score do I need?
You’ll have a better chance of approval for this card if you apply with a good to excellent credit score of 670 to 850.
Approval odds
Based on our gathered data, there’s a clear drop off point for qualification when moving from good to fair. Having a credit score on the upper-end of “Good” is your best bet for qualifying. If your credit score is on the lower-end of “Good” or dips into “Fair,” you might want to just apply for a card better matched for your credit history.
Based on a survey of 64 people (out of 365 respondents) on finder.com
| Answer choices | Responses |
|---|---|
| 740-850 | 57.81% |
| 670-739 | 35.94% |
| 580-669 | 4.69% |
| 300-579 | 1.56% |
Chase Sapphire Preferred® Card benefits
- REWARDS: 5x points on Lyft rides, 2x points on travel and dining. Chase Sapphire Preferred® Card rewards can be attractive if you’re a frequent traveler, as you’ll earn 5x points on Lyft rides through March 2022 and 2x points on travel and dining. Earn 1 point per dollar you spend on everything else. Pay attention to the bonus categories before getting this card. If you rarely travel or dine out, you might be better served by a different product. If you spend consistently in those categories, however, this card might be a great choice for you. A 2x-point earn rate easily turns into a 2.5% redemption rate if you redeem your points for eligible travel through the Chase portal.
- SIGNUP BONUS: Earn up to 80,000 bonus points and a $50 statement credit on grocery store purchases. When you spend $4,000 on purchases in the first 3 months your account is open, you’ll earn 80,000 points. That’s worth $1,000 when redeemed through Chase Ultimate Rewards. As part of this welcome offer, Chase is also offering a $50 statement credit toward grocery store purchases at eligible retailers.
- Points are worth more when redeemed through Chase Ultimate Rewards. If you redeem your points through Chase Ultimate Rewards, they’re worth 25% more. This is a big perk that elevates the Chase Sapphire Preferred® Card above the rest. For example, you can redeem 80,000 points for $1,000 worth of travel purchases, rather than the industry-standard $600 — 1 point equals 1 cent.
- Point transfers at a 1:1 ratio to airline programs. You can transfer Chase points to airline programs that include Aer Lingus Aer Club, British Airways Executive Club, Emirates Skywards, Flying Blue Air France KLM, Singapore Airlines KrisFlyer, Southwest Airlines Rapid Rewards, United MileagePlus and Virgin Atlantic Flying Club.
- Point transfers at a 1:1 ratio to hotel programs. Transfer points to hotel programs that include IHG Rewards Club, Marriott Rewards and Ritz-Carlton Rewards.
- No Chase Sapphire Preferred® Card foreign transaction fee. You wouldn’t expect anything less from a travel card. Many credit cards come with a 3% foreign transaction fee, making the Chase Sapphire Preferred® Card an excellent choice when you’re shopping abroad.
- No authorized user fees. There’s no fee to add an authorized user. Unfortunately, you won’t earn the 5,000-point authorized user bonus offered previously, but individuals on your card account will earn points for you whenever they spend.
- Peloton statement credits. Until December 31, 2021, the Chase Sapphire Preferred® Card will grant you up to $60 in statement credits on Peloton Digital and All-Access Memberships.
- Purchase coverage. Purchase coverage includes purchase protection that insures your purchases against theft or damage and provides price protection, return protection and extended warranties.
- Travel benefits. Enjoy Chase Sapphire Preferred® Card travel and purchase benefits, such as trip cancellation reimbursement, travel emergency assistance, baggage delay insurance and purchase protection.
What to watch out for
- Potentially high APR. Depending on your credit, you could be approved for a purchase and balance transfer APR as high as 22.99% variable. The average credit card APR is around 16%.
- Higher cash advance APR. Cash advances come with a 24.99% variable APR.
- No grace period on balance transfers or cash advances. Purchases come with a grace period — that is, you’ll have at least 21 days after the close of the billing cycle to pay off your balance before accruing interest. This isn’t the case with balance transfers or cash advances: You’ll start accruing interest on them immediately.
- No airport lounge access. The Chase Sapphire Preferred® Card doesn’t offer these benefits, but you can find them with the Chase Sapphire Reserve®.
Is the annual fee worth it?
Yes. The Chase Sapphire Preferred® Card has a $95 annual fee. That’s comparable to fees of other mid-tier travel cards, and for the price, you get perks and rewards greater than the price would suggest. The points you earn for example are worth 25% more when redeemed for airfare, hotels, cruises and car rentals through Chase Ultimate Rewards. This gives you a 1.25% redemption rate, which is better than that of most other travel cards. At that rate, you’d need 7,600 points to break even on the annual fee with rewards alone.
The card’s signup bonus is also one of the largest for the price on the market and it can pay for your annual fee several times over alone.
Compare Sapphire Preferred to similar credit cards
The Chase Sapphire Preferred is best compared to similar upper-mid tier cards and premium cards. Here’s how it stacks up next to two such cards, the Chase Sapphire Reserve and the Amex Gold Card.
Chase Sapphire Preferred® Card
★★★★★
Terms apply, see rates & fees| Go to site |
|---|
|
Minimum credit score 670 |
|
Annual fee $95 |
|
Purchase APR 15.99% to 22.99% variable |
|
Balance transfer APR 15.99% to 22.99% variable |
|
Rewards 5x points on Lyft, 2x points on up to $1,000 on groceries until April 30, 2021, 2x points on travel and dining and 1x points on all other purchases |
|
Welcome offer 80,000 points after spending $4,000 in the first 3 months, a value of up to $1,000 through Chase Ultimate Rewards. Plus up to $50 statement credit towards groceries |
Chase Sapphire Reserve®
★★★★★
Terms apply, see rates & fees| Go to site |
|---|
|
Minimum credit score 740 |
|
Annual fee $550 |
|
Purchase APR 16.99% to 23.99% variable |
|
Balance transfer APR 16.99% to 23.99% variable |
|
Rewards 10x points on Lyft rides, 3x points on dining and travel after earning your $300 travel credit and 1x points on all other purchases |
|
Welcome offer 60,000 points after spending $4,000 in the first 3 months, a value of up to $900 through Chase Ultimate Rewards. |
American Express® Gold Card
★★★★★
Terms apply, see rates & fees| Go to site |
|---|
|
Minimum credit score 670 |
|
Annual fee $250 |
|
Purchase APR See Pay Over Time APR |
|
Balance transfer APR N/A |
|
Rewards 4x at restaurants including delivery and Uber Eats; 4x at US supermarkets on up to $25,000 annually (then 1x points), 3x points on directly-booked flights and 1x points on all other purchases |
|
Welcome offer 60,000 points after spending $4,000 in the first 6 months |
Compare even more credit cards
Should I get the Chase Sapphire Preferred® Card or Chase Sapphire Reserve®?
The Chase Sapphire Preferred® Card is a mid-tier travel card that can be an excellent starting product to get into the travel game. The Chase Sapphire Reserve®, meanwhile, is a premium card with a hefty price tag — but you’ll find many top-of-the-line features. Which you get greatly depends on how invested you are in the Chase Ultimate Rewards program. You can read our full Sapphire comparison for more insight on which is the better choice for you.
Chase Sapphire Preferred® Card reviews and complaints
Cardholders generally have great things to say about the Chase Sapphire Preferred® Card points and travel benefits — even if they’re not thrilled with the annual fee. They say the card is slightly easier to apply for as a Chase customer: Because the bank already has your personal details, you may not have to complete the entire credit card application.
JPMorgan Chase Credit Card is not accredited with the Better Business Bureau but it has an A+ rating and a composite score of 1.18 out of 5 stars based on 229 customer reviews as of October 2020. Most customer complaints revolve around poor customer service and hidden costs Chase credit cards in general. Make sure you read your card’s terms and the rewards agreement to avoid issues with your account.
As of October 2020, Chase earns a Trustpilot score of 1.3 out of 5. Most negative reviews cite slow responses to fraud complaints and less-than-helpful customer service. Positive reviews cite the bank’s great mobile app and quick resolutions to their issues. Overall, your mileage may vary with Chase customer support.
What interests you most about this credit card?
Based on a survey of 215 people (out of 365 respondents) on finder.com
| Answer choices | Responses |
|---|---|
| Rewards | 34.42% |
| Signup bonus | 17.21% |
| Features and benefits | 44.65% |
| APR | 3.72% |
I got the card. Now what?
- Make timely payments. Pay your card bill online at the Chase website, where you can enroll in autopay.
- Avoid interest. After the close of each billing cycle, you have a grace period of at least 21 days to pay your balance. If you do, you won’t pay interest on your purchases.
- Avoid fees. Late and returned payments come with fees of up to $39. The balance transfer fee is $5 of the amount of each transfer, and the cash advance fee is $10 or 5% of the cash advance amount, whichever is greater.
- Contact customer service. If you have questions, contact Chase Credit Cards support at 1-800-432-3117.
- Earn points. Use your card on purchases that net you the biggest value based on your card. Check out our Chase earning guide for tips on maximizing your earnings.
- Redeem your points. You can redeem your Chase points through the Chase Ultimate Rewards portal on a number of options, including gift cards, travel, cash back and merchandise.
Bottom line
The Chase Sapphire Preferred® Card is among the best travel cards you’ll find. With its 2x points on travel and dining, it’s a solid credit card for globetrotters and foodies.
Those points go far too, with a 25% boost if you redeem them through Chase Ultimate Rewards. And the 1:1 point transfers to airline and hotel programs means your points are extremely flexible.
Compare Chase Sapphire Preferred® Card with other cards
- Compare with Chase Sapphire Reserve®
- Compare with American Express® Gold Card
- Compare with Capital One® Venture® Rewards Credit Card
- Compare with Marriott Bonvoy™ American Express® Card
- Compare with Barclaycard Arrival® Plus World Elite Mastercard®
- Compare with Barclaycard Arrival® Plus World Elite Mastercard®
- Compare with Bank of America® Travel Rewards Credit Card
- Compare with Citi® Double Cash Card
- Compare with Citi® / AAdvantage® Executive World Elite™ Mastercard®
- Compare with Citi Prestige® Credit Card
- Compare with Chase Freedom Unlimited®
- Compare with Citi Premier® Card
- Compare with Chase Slate® credit card
- Compare with Delta SkyMiles® Gold American Express Card
- Compare with Southwest Rapid Rewards® Premier Credit Card
- Compare with United MileagePlus® Club card
- Compare with Discover it® Miles Travel Credit Card
Credit card ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our team evaluates credit cards to determine their value against similar cards on the market.
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