Chase Sapphire Preferred® Card review

How to apply for the Chase Sapphire Preferred® Card

1. Learn more about how to apply for Chase Sapphire Preferred® Card.
2. Complete the application with details like your name, address, annual income and Social Security number.
3. 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

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

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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, 5x points on Chase travel and 2x points on other travel purchases, 3x points on dining, select streaming and online groceries. 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 5x points on travel booked through the Chase travel portal. This is a big boost from the card’s old 2x point rate, which you’ll still receive on all other travel purchases. What’s more, the card now also earns 3x points on dining, select streaming services and online groceries (with the exception of Target, Walmart and other wholesale clubs).
• SIGNUP BONUS: Earn up to 60,000 bonus points when you spend $4,000 on purchases in the first 3 months your account is open. That’s worth $750 when redeemed through Chase Ultimate Rewards.
• Annual hotel statement credit. You’ll receive $50 in statement credit each year toward hotels booked through the Chase travel portal.
• A 10% point bonus each year. At each card anniversary you’ll earn bonus points equal to 10% of your total purchases made the prior year.
• 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 60,000 points for $750 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.
• 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.

Chase Sapphire Preferred® Card drawbacks

• 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® Card 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

★★★★★

Finder Rating: 4.6 / 5

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 travel through Chase Ultimate Rewards, 3x points on dining and 2x points on all other travel purchases
Welcome offer 60,000 points after spending $4,000 in the first 3 months.

Chase Sapphire Reserve®

★★★★★

Finder Rating: 4.6 / 5

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 5x points on flights and 10x points on hotels and car rentals through Chase Ultimate Rewards, 3x points on other travel after earning your $300 travel credit, 10x points on Lyft rides, 10x points on Chase Dining through Ultimate Rewards, 3x points on other dining and 1x points on all other purchases
Welcome offer 50,000 points after spending $4,000 in the first 3 months, a value of up to $750 through Chase Ultimate Rewards.

American Express® Gold Card

★★★★★

Finder Rating: 4.6 / 5

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 other eligible purchases
Welcome offer 60,000 points after spending $4,000 in the first 6 months

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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 August 2021. 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 August 2021, 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

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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 $40. 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 new and impressive earning rates on travel, dining and more, it’s a steal at $95 a year and one of the best all-around cards on the market.