Do you want to see a complete review of Chase Sapphire Preferred credit card? From Responsible Economy we show you all the features: fees, interest rate, cash back and everything you need to know. You will also be able to see an explanatory video and a comparison with the best credit cards that you can apply for in 2023. Welcome!
Features
In this section you have all the detailed characteristics of the Chase Sapphire Preferred credit card:
Fees
Undoubtedly the commissions are one of the most important points of any credit card. Chase Sapphire Preferred has an annual commission of $95. This is without a doubt one of the worst features of this card.
With this credit card you can carry out transactions abroad without having to pay commissions.
Paying late or returned payments has a commission of $40.
Interest rate
If you pay for purchases at the end of the month you will not have to pay any charges. Deferred purchases have an interest rate of 21.24% to 28.24% APR, based on your creditworthiness.
Another downside to the Sapphire card is that it doesn’t offer any introductory APR offers. Most credit cards offer at least 15 introductory months at 0% APR. Even Chase Freedom Unlimited offers this offer.
Bonus
Chase Sapphire Preferred offers a welcome bonus of 60,000 points as long as you spend $4,000 in the first 3 months. These 60,000 points are equivalent in dollars to a range between $300 and $750 depending on how you redeem the points. As I assume you know, points have a different value depending on how you redeem them.
Cash back
We show you a list with all the cash back you have available:
- Earn up to $50 in statement credits each account anniversary year for hotel stays purchased through Chase Ultimate Rewards.
- Earn 5x total points on travel purchased through Chase Ultimate Rewards, excluding hotel purchases that qualify for the $50 Annual Ultimate Rewards Hotel Credit.
- Earn 2x on other travel purchases.
- Earn 3x points on dining, including eligible delivery services, takeout and dining out.
- Earn 3x points on online grocery purchases (excluding Target, Walmart and wholesale clubs).
- Earn 3x points on select streaming services.
- Plus, earn 1 point per dollar spent on all other purchases.
Travel insurance
Here you have all the insurance associated with Chase Sapphire Preffered:
Trip Cancellation/Interruption Insurance
If your trip is canceled or cut short by sickness, severe weather and other covered situations, you can be reimbursed up to $10,000 per person and $20,000 per trip for your pre-paid, non-refundable travel expenses, including passenger fares, tours, and hotels.
Auto Rental Collision Damage Waiver
Decline the rental company’s collision insurance and charge the entire rental cost to your card. Coverage is primary and provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most rental cars in the U.S. and abroad.
Baggage Delay Insurance
Reimburses you for essential purchases like toiletries and clothing for baggage delays over 6 hours by passenger carrier up to $100 a day for 5 days.
Trip Delay Reimbursement
If your common carrier travel is delayed more than 12 hours or requires an overnight stay, you and your family are covered for unreimbursed expenses, such as meals and lodging, up to $500 per ticket.
Travel and Emergency Assistance Services
If you run into a problem away from home, call the Benefit Administrator for legal and medical referrals or other travel and emergency assistance. (You will be responsible for the cost of any goods or services obtained).
Purchase Protection
Covers your new purchases for 120 days against damage or theft up to $500 per claim and $50,000 per account.
Extended Warranty Protection
Extends the time period of the U.S. manufacturer’s warranty by an additional year, on eligible warranties of three years or less.
Comparison with the best credit cards
We have made a comparison of the Chase Sapphire Preferred with the best credit cards that you can apply for in the United States in 2023:
- Fees: $0
- Cashback: 1,5%-6,5%
- Bonus: up to $300
- Credit Score: 690-850
- Fees: $0
- Cashback: 2%
- Welcome bonus: $200
- Credit Score: 690-850
- Fees: $95
- Cashback: 1x-5x
- Welcome bonus: 60.000 points
- Credit Score: 690-850
- Fees: $0
- Cashback: 1%-10%
- Welcome bonus:$200
- Credit Score: 690-850
- Fees: $95
- Cashback: 2x-5x
- Welcome bonus:75.000 miles
- Credit Score: 690-850
- Fees: $0
- Cashback: 1%-5%
- Welcome bonus: up to $300
- Credit Score: 690-850
- Fees: $0
- Cashback: 1%-5%
- Welcome bonus: $200
- Credit Score: 690-850
- Fees: $0
- Cashback: up to 3%
- Welcome bonus: $200
- Credit Score: 690-850
- Fees: $0
- Cashback: up to 4%
- Welcome bonus: $0
- Credit Score: 690-850
- Fees: $0
- Cashback: up to 5%
- Welcome bonus: $0
- Credit Score: 690-850
- Fees: $0
- Cashback: up to 3%
- Welcome bonus: $0
- Credit Score: 690-850
Video Chase credit cards
We have also made a video with all Chase credit cards:
Pros and cons
After seeing all the characteristics of the Chase Sapphire Preferred credit card and comparing it with the best credit cards, we have made a table with all the advantages and disadvantages:
| Pros | Cons |
|---|---|
| Welcome bonus | Good or excellent credit score |
| Cash back up to 5% | $95 annual fees |
| travel insurance |
Requirements
These are the requirements to apply for this Chase credit card:
- Must be over 18 years old
- Live in the United States
- Have a Social Security
- Credit score good or excellent
- Have an American phone
Conclusions and opinions
After all the review carried out, our opinion is that the Chase Sapphire Preferred credit card is only recommended for all those who make a lot of trips because of the insurance they have associated. It is a credit card with an annual fee of $95 and also has no introductory APR offer.
Frequent questions
Here we answer all the questions you may have about the Chase Sapphire Preferred:
Anothers products of Chase
Here are more products that Chase offers::
- Checking accounts: here you have all Chase checking accounts:
- Savings: Chase savings account review.
- Credit cards: all Chase credit cards.
- If you are a student here is the Chase freedom Student credit card review.
More information about Chase
Here you have interest information about Chase:
| Information | Description |
|---|---|
| Website | https://www.chase.com/ |
| YouTube | https://www.youtube.com/chase |
| https://twitter.com/Chase | |
| Phone | 1-800-432-3117 |
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Updated the day 1 September, 2023 by Alfredo Barandiarán
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