Partner relationships
We receive compensation from certain partners whose offers may appear on our website. This is noted on an offer's detail page using the designation "Partner," where applicable. That's how BiggerPockets makes money and is able to provide its guidance, information, and tools to you for free.
While such compensation may influence the specific products we review and where they appear on the website, it does not in any way affect BiggerPockets' recommendations. We do not allow our advertisers to influence our opinion of such advertisers or their offers that appear on the website, and any opinions expressed are our own. BiggerPockets tries to present a wide array of offers, but our offers do not represent all financial services or products. Because we value transparency, here's a list of the partners with whom we partner to provide financial products, and from whom we might receive payment if you apply for and receive one of their products.
Chase Sapphire Preferred: BiggerPockets Review
These companies are not responsible for any reviews posted on the website, nor do they endorse or guarantee any posted comments or reviews. Reviews should not be relied upon as the sole basis for choosing a financial product. Read our editorial guidelines for reviews.
Chase Sapphire Preferred is a travel credit card, often compared against its cousin, the Chase Sapphire Reserve. Preferred comes with a $95 annual fee (compared with $550 for the Reserve) and offers less substantial but still impressive travel perks.Â
Quick facts
- The Chase Sapphire Preferred credit card comes with a substantial 60,000 bonus points on sign-up—equivalent to $750 in travel when redeemed through the Chase Ultimate Rewards Portal.
- There’s a $95 annual fee, which is much less than the Chase Sapphire Reserve at $550, for lesser but still hefty travel benefits.
- There’s no foreign transaction fee for this travel-focused card.
- The card earns two points on travel and dining purchases, or one point per dollar on other purchases.
- Preferred comes with some new perks, including a subscription to DoorDash’s premium service, DashPass.
CURRENT SIGN-UP BONUS
The current sign-up offer is 60,00 bonus points after you spend $4,000 on purchases in the first three months after opening your account. It’s equivalent to $750 toward travel when redeemed through the Chase Ultimate Rewards portal. You’re eligible to receive it if you don’t have a Sapphire card and haven’t received a new cardmember bonus for any Sapphire card in the past 48 months.
CREDIT REQUIREMENTS
People with good to excellent credit are likely to get approved. Apply with a minimum credit score in the high 600s, though approval for this card is less strict than for Chase’s Sapphire Reserve for which you might need a minimum credit score in the low 700s.
PROS
- Chase Sapphire Preferred comes with a hefty sign-up bonus, worth $750 in travel.
- You get major travel perks with this card, even though the annual fee is a somewhat modest $95—a far cry from the $550 annual fee of the Sapphire Reserve.
- There’s no fee to add additional users onto this card.
- The card comes with extra perks like free enrollment in DashPass, DoorDash’s subscription service, for at least a year.
CONS
- If you’re not traveling now due to the pandemic, you won’t get the most out of the card’s main benefit in normal times: travel perks.
- While the $95 annual fee is small compared to Chase’s Sapphire Reserve card, it still amounts to an expense some might choose to avoid with a low- or no-fee card.
- This card doesn’t offer an introductory APR.
The stats
- APR: 15.99 to 22.99 percent
- Annual fee: $95
- Balance transfer fee: $5 or five percent of the amount of each transfer, whichever is more
- Foreign transaction fee: $0