Calling all savvy travelers! Are you looking for a credit card that can help pay for your travel expenses and also fuel your endless love affair with rewards points?
Then, the Sapphire Preferred Credit Card is the card for you. The card, which many people deem as one the most valuable travel rewards cards ever, has created a lot of hype in the credit card market with its generous sign-up bonus and lucrative reward system. But, that’s not all.
A variable APR, no foreign transaction fee, and numerous travel perks - the credit card is a dream come true for travelers. In this article, you can read about all the other amazing features that come with the Sapphire Preferred Credit Card and also learn how to apply.
Features of the Sapphire Preferred Credit Card
The Sapphire Preferred Credit Card is a favorite amid miles and reward points collectors. Targeted towards regular travelers, the card does not charge any foreign transfer fee. As a cardholder, you can enjoy trip delay protection and primary car rental.
You will also get a complimentary DashPass membership for a minimum of one year. With the DashPass membership, you can get free food delivery and discounted service fees on specific purchases from DoorDash.
The most exciting feature, however, is the massive sign-up bonus of 80,000 points. To qualify for this bonus, you are required to spend $4,000 in the first three months. Also, this card will open a world of bonus points against dining and travel purchases.
Pros and Cons of the Sapphire Preferred Credit Card
Apart from the stellar sign-up bonus, you can earn a 25% bonus when you redeem points through Ultimate Rewards. Moreover, there is also the option for travel partner points transfer.
Having said that, with an annual fee of $95 the credit card is quite expensive. The APR is also fixed at an above-average rate. Plus, it lacks some fancy travel perks such as lounge access.
Rates and Fees of the Sapphire Preferred Credit Card
Before you apply for this credit card, it is essential to be aware of all the associated charges. Below is a list of rates and fees that come with the Sapphire Preferred Credit Card.
● Annual fee - $95
● Purchase and balance transfer APR - 15.99% to 22.99%
● Cash advance APR - 24.99% p.a.
● Balance transfer fee - $5 or 5% (whichever is greater)
● Cash Advance fee - $10 or 5% (whichever is greater)
● Foreign transaction fee - 0%
● Late payment fee - Up to $39
Eligibility for the Sapphire Preferred Credit Card
The main factors that can help determine your eligibility for the Chase Sapphire Preferred card are your credit score and your relationship with the bank. If you have a credit score over 646, getting approval would be quite easy.
Additionally, if you are a long-term Chase customer with a large amount in your account, your chances of getting approval will increase. However, Chase Bank will automatically reject your credit card application if you have opened more than five credit cards in the last 24 months.
How to Apply for the Sapphire Preferred Credit Card
Getting your hands on the Sapphire Preferred Credit Card is quite easy! Thanks to technological development, you can now apply online for the card by simply proving some personal, financial, and security information.
The next step is a ‘review’ section where you can add up to five authorized card users and review the terms and pricing before finally completing the application. In less than five minutes, the bank will provide an application decision based on your eligibility.
Chase Bank Address and Contact
You can find out more about the Sapphire Preferred Credit Card by contacting the bank directly. Chase Bank can be reached using the following details.
Address: 270 Park Ave. New York, NY 10017
Contact: 1-212-270-6000
Conclusion
The Sapphire Preferred Credit Card offers some of the best perks out there for frequent travelers. Despite that, the variable APR and annual fee make maintenance of this credit card quite expensive for many users.
Disclaimer: There are risks involved when applying for and using credit products. Ensure you consult the bank's terms and conditions page before agreeing to anything.
