Chase Sapphire Preferred Credit Card

Chase Sapphire Preferred® Card

Card Details

Signing Promotion

Earn 40,000 bonus points after you spend $3,000 in the first 3 months.

Reward Rate

1.07%* question

Annual Fee

Introductory Annual Fee of $0 the first year, then $95.

APR, Variable

APR: 15.99% (Variable)
Penalty APR: 29.99%, Variable
Cash Advance APR: 19.24%, Variable

Intro APR Promotions

Purchase: None
Transfer: None
Card Features
  • Earn 40,000 bonus points when you spend $3,000 on purchases in the first 3 months from account opening. That's $500 in travel when you redeem through Chase Ultimate RewardsSM.
  • Earn 5,000 additional bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening.
  • 2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases
  • No foreign transaction fees, plus Chip and Signature enabled for international travel.
  • 1:1 point transfer to participating frequent travel programs at full value — that means 1,000 Ultimate Rewards points equal 1,000 partner miles/points.
  • 24/7 direct access to dedicated customer service specialists
  • Introductory Annual Fee of $0 the first year, then $95
Apply Now

on Chase's
secure website

thumbsupPros
  • High rewards rate
  • No foreign transaction fee
thumbsdownCons
  • Has annual fee
Disclaimer: This content is not provided or commissioned by Chase Bank USA, N.A. Opinions expressed here are author's alone, not those of Chase Bank USA, N.A, and have not been reviewed, approved or otherwise endorsed by Chase Bank USA, N.A. "Sponsored" above means this site may be compensated through the Chase Bank USA, N.A Affiliate Program.

Editor's Review

Author: Tim
How much is a Sapphire Preferred point worth? It pays standard Chase Ultimate Rewards Points, but with a few added bonuses.

Chase Sapphire Preferred Points versus the Chase Sapphire Sapphire Preferred has several unusual features unique to this card. First, the card boasts 1:1 point transfer to major hotel and airlines, which is not the case for the normal Sapphire card or any other Chase cards. Also, there is a 7% annual dividend on your point balance. Lastly, your points get a 20% boost when you redeem at Chase Ultimate Rewards travel booking service, so you can redeem 8,000 points for $100 worth of travel. This means your points are effectively worth 25% more!

These extra features come at a cost. The card has an $95 annual fee (waived the first year), compared to no annual fee for the Chase Sapphire card.

Chase Sapphire Preferred versus other Rewards Cards There are certainly cards that pay higher reward rates on an ongoing basis, with no annual fee. For example, 5% back on gas & groceries with the American Express Blue Cash, 5% on gas with the PenFed Platinum Cashback Card, or 5% on dining with the Citi Forward card.

However, Chase is finally stepping to the plate and offering points that attempt to match American Express Membership Reward Points in terms of flexibility - specifically 1:1 point transfer to major airlines and hotels. It's difficult to put a value on the ability to add 5,000 miles to a specific frequent flyer program because you're just short of a ticket. Or to be able to transfer some points over to your hotel program to get a room upgrade. Add to this the 7% annual dividend and one of the lowest APRs on a tier 1 rewards card, and the card may be worth serious consideration.

1:1 point conversion partners include Amtrak, British Airways, Continental Airlines Intercontinental Hotels Group, and Marriott.
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