Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

Chase Sapphire Preferred® Card review

An excellent card with Chase's highest ever signup bonus worth $1,250 in value.

finder.com’s rating: 4.3 / 5

★★★★★

  • Get this card if you want Chase’s biggest signup bonus worth up to $1,250, 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.

100,000

Points as welcome offer

Up to 5x

Points

$95

Annual fee

15.99% to 22.99%

Purchase APR (variable)

Details

Annual fee$95
Welcome Offer100,000 points after spending $4,000 in the first 3 months. That's $1,250 when you redeem through Chase Ultimate Rewards®
Rewards5x points on Lyft, 2x points on travel and dining and 1x points on all other purchases
Purchase APR15.99% to 22.99% variable
Balance transfer APR15.99% to 22.99% variable
Recommended minimum credit score670
IssuerVisa

Review by


Megan 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

A traditional favorite among travel enthusiasts, the Chase Sapphire Preferred® Card offers 2x points on travel and dining for a $95-a-year price tag. And now, it offers a superb 5x points on Lyft rides through March 2022, as well as an incredible 100,000 bonus points after you spend $4,000 in your first 3 months — Chase’s largest welcome offer to date.

The card consistently garners attention for its reward boost: I get 25% more value when I redeem points for airfare, hotel stays, cruises and car rentals through Chase Ultimate Rewards. Due to recent changes to the Chase Freedom lineup, however, the Chase Sapphire Preferred® Card has lost some of the raw value that helped round out the card’s strong perks. Both Chase Freedom Flex℠ and Chase Freedom Unlimited® now offer comparable reward rates for no annual fee, which steals some of the Sapphire Preferred’s thunder.

That said, Chase seems to have positioned the card as the “signup bonus” card among its lineup. The card consistently holds one of the highest welcome offer values out of all Chase cards and in fact, currently holds the highest value Chase has ever released: 100,000 points after $4,000 in purchases are made within the first 3 months from account opening. This is worth $1,250 in travel through Chase Ultimate Rewards and can be worth even more if you transfer those points to any of Chase’s travel partners.

I redeemed my signup bonus for two round-trip flights from San Diego to Salt Lake and one round-trip flight from San Diego to Sacramento. Buying these flights with my points saved me around $750. Purchasing them was easy through the Chase Ultimate Rewards Portal. It looks like a normal flight search engine, with flight options much like Kayak.

Now that I have this card, I’ll likely upgrade to the Chase Sapphire Reserve®. As long as I use the $300 in travel credit and premium travel perks, I can make the annual fee worth it. The Chase Sapphire Preferred® Card was a great starting point to see if I would take advantage of a higher-level, premium travel card before I opened a card with a high annual fee.

Apply now

How to apply for the Chase Sapphire Preferred® Card

  1. Click Apply now.
  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

  • 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

survey question 2
Answer choicesResponses
740-85057.81%
670-73935.94%
580-6694.69%
300-5791.56%

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 100,000 bonus points when you spend $4,000 on purchases in the first 3 months your account is open, you’ll earn 100,000 points. That’s worth $1,250 when redeemed through Chase Ultimate Rewards. This is Chase’s highest ever signup bonus across its flagship cards and is reason enough to consider applying, particularly if you’re already invested in the Chase Ultimate Rewards program. You’ll want to act fast though, as this card’s welcome offer has a history of changing frequently.
  • 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 100,000 points for $1,250 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® 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: 4.3 / 5

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 travel and dining and 1x points on all other purchases

Welcome offer

100,000 points after spending $4,000 in the first 3 months. That's $1,250 when you redeem through Chase Ultimate Rewards®

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

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.

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.

Apply now

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

survey question 3
Answer choicesResponses
Rewards34.42%
Signup bonus17.21%
Features and benefits44.65%
APR3.72%
Back to top

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.
Back to top

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.

06/04/2021Old: Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.New:Our best offer ever! Earn 100,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $1,250 when you redeem through Chase Ultimate Rewards®.
Back to top

Credit card ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

Our team evaluates credit cards to determine their value against similar cards on the market.

We rank card types — travel, cash back, business — on a set of factors that are most relevant to that type of card. We create these rankings to help you narrow down a credit card that best suits your spending and budget.

Learn the details of our methodology and scoring.

Ask an expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our finder.com Terms of Use and Privacy and Cookies Policy.
Go to site