Welcome to the ultimate guide to finding the perfect flexible spending credit card with Chase! In this comprehensive article, we’ll explore the benefits, rewards rate, annual fees, and credit range of the Chase Sapphire Preferred® Card. Whether you’re a frequent traveler, a food enthusiast, or simply looking for a card that offers flexibility in spending, we’ve got you covered. Let’s dive in!
Section 1: The Chase Sapphire Preferred® Card
At A Glance
The Chase Sapphire Preferred® Card is a highly sought-after credit card that offers a wide range of benefits and rewards. With this card, you have the opportunity to earn 60,000 bonus points after spending $4,000 on purchases within the first 3 months of account opening. These points can be redeemed for various travel expenses or transferred to partner loyalty programs for even greater value.
But the perks don’t stop there! The card provides an impressive rewards rate, earning you 5x points on travel purchased through Chase Ultimate Rewards®, 3x points on dining, and 2x points on all other travel purchases. This makes it an ideal choice for individuals who love to explore new destinations and savor delicious meals.
Highlights
Let’s take a closer look at some of the key highlights of the Chase Sapphire Preferred® Card:
– Earn 60,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening.
– Enjoy benefits such as 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining, and 2x on all other travel purchases.
– Get 25% more value when you redeem for airfare, hotels, car rentals, and cruises through Chase Ultimate Rewards®.
– Benefit from valuable travel insurances, including Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, and Lost Luggage Insurance.
– Complimentary access to DashPass, which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.
Section 2: Rates & Fees
The Chase Sapphire Preferred® Card offers competitive rates and fees:
– Annual Fee: The annual fee for the Chase Sapphire Preferred® Card is $95. Considering the generous rewards and benefits offered by the card, this fee is justified for many cardholders.
– Purchase APR: The variable purchase APR for the card ranges from 15.99% to 22.99%, depending on your creditworthiness.
– Balance Transfer Fee: If you wish to transfer a balance to your Chase Sapphire Preferred® Card, you’ll incur a fee of either $5 or 5% of the transferred amount, whichever is greater.
– Foreign Transaction Fee: When using the card for purchases made abroad, there is no foreign transaction fee. This makes it an excellent travel companion.
Section 3: Editor’s Take
Overall Rating
Our editor has given the Chase Sapphire Preferred® Card an impressive rating of 4.5 out of 5. This rating is based on the card’s attractive rewards rate, valuable benefits, and competitive fees. It’s truly a standout option in the world of flexible spending credit cards.
Why We Like This Card
There are several reasons why we love the Chase Sapphire Preferred® Card:
– Generous travel rewards: The ability to earn 5x points on travel and 3x points on dining is a huge plus for frequent travelers and foodies.
– Valuable travel insurances: With features like Trip Cancellation/Interruption Insurance and Lost Luggage Insurance, you can travel with peace of mind.
– Flexibility in redemption: The option to transfer points to partner loyalty programs or redeem them for travel through Chase Ultimate Rewards® provides incredible flexibility.
Pros
– Competitive rewards rate on travel and dining
– Valuable travel insurances
– Flexible redemption options
– No foreign transaction fee
– Complimentary access to DashPass
Cons
– $95 annual fee
– Higher purchase APR for those with lower credit scores
Bottom Line
The Chase Sapphire Preferred® Card is an excellent choice for individuals seeking a flexible spending credit card with exceptional rewards and benefits. Whether you’re a frequent traveler or a lover of great food, this card has something to offer. With a generous sign-up bonus and valuable perks, it’s a smart choice for maximizing your spending power.
Section 4: Card Details
For a detailed breakdown of the card’s rates, fees, and benefits, refer to the table below:
| Card Details | Chase Sapphire Preferred® Card |
|---|---|
| Annual Fee | $95 |
| Purchase APR | 15.99% – 22.99% variable |
| Balance Transfer Fee | $5 or 5% of the transferred amount |
| Foreign Transaction Fee | None |
| Rewards Rate | 5x on travel through Chase Ultimate Rewards®, 3x on dining, 2x on all other travel purchases |
| Bonus Points | 60,000 points after spending $4,000 within the first 3 months |
Section 5: Frequently Asked Questions
Q: How do I earn the sign-up bonus on the Chase Sapphire Preferred® Card?
A: To earn the sign-up bonus, you must spend $4,000 on purchases within the first 3 months from account opening.
Q: What types of purchases qualify for the 5x points on travel?
A: The 5x points on travel apply to purchases made through Chase Ultimate Rewards®, including flights, hotels, car rentals, and cruises.
Q: Can I redeem my points for cash?
A: While cash redemptions are available, you’ll get the best value by redeeming your points for travel expenses through Chase Ultimate Rewards®.
Q: Are there any blackout dates when redeeming points for travel?
A: No, there are no blackout dates. As long as there is availability, you can book your travel using your points.
Q: Is the DashPass membership permanent?
A: No, the complimentary DashPass membership lasts for a minimum of one year if activated by December 31, 2024.
Q: Can I transfer my points to other loyalty programs?
A: Yes, the Chase Sapphire Preferred® Card allows you to transfer your points to various partner loyalty programs for added flexibility and value.
Q: What is the typical credit range for approval?
A: The Chase Sapphire Preferred® Card is generally available to individuals with a good to excellent credit score, typically ranging from 670 to 850.
Q: Is there a fee for balance transfers?
A: Yes, there is a balance transfer fee of either $5 or 5% of the transferred amount, whichever is greater.
Q: Does the card provide any travel insurance benefits?
A: Yes, the Chase Sapphire Preferred® Card offers valuable travel insurances, including Trip Cancellation/Interruption Insurance and Lost Luggage Insurance.
Q: Can additional cardmembers earn rewards?
A: Yes, additional cardmembers can earn rewards on purchases made with their individual cards.
Section 6: Conclusion
Congratulations! You’ve reached the end of our ultimate guide to finding the perfect flexible spending credit card with Chase. We hope this comprehensive article has provided you with valuable insights into the benefits, rewards rate, and features of the Chase Sapphire Preferred® Card. Now it’s time to explore your options further and find the card that suits your spending needs the best. Happy card hunting!