How to Apply for your Chase Sapphire Preferred Credit Card
The Chase Sapphire Preferred Card is a travel rewards credit card that offers 60,000 bonus points after spending $4,000 on purchases in the first 3 months. These points can be redeemed for $750 towards travel through Chase Travel. The card also offers 5x points on travel purchased through Chase Travel, 3x points on dining, 3x on online grocery purchases, 3x on select streaming services and 2x on other travel purchases. It also offers no foreign transaction fees, travel and purchase coverage, and partner benefits.
Benefits of the Card
The Chase Sapphire Preferred Card is designed for those who seek to maximize their rewards through travel, dining expenditures and online grocery purchases. It offers a range of benefits tailored to enhance the cardholder’s spending experience, making it a competitive choice in the travel rewards credit card market. Below are some of the top benefits that come with the Chase Sapphire Preferred Card, each explained in detail to provide a clear understanding of what the card offers.
Earn 60,000 Bonus Points
The Chase Sapphire Preferred Card offers a significant new cardmember offer of 60,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening. This introductory bonus is equivalent to $750 toward travel when redeemed through Chase Travel. This substantial bonus provides a head start for new cardholders, allowing them to leverage their initial spending into valuable travel rewards.
Premium Dining & Travel Rewards
Cardholders earn 5x total points on travel purchased through Chase Travel, excluding hotel purchases that qualify for the $50 Annual Chase Travel Hotel Credit. Additionally, 3x points are earned on dining at restaurants, including eligible delivery services, takeout, and dining out, and 2x points on other travel purchases. This rewards structure is designed to benefit those who frequently dine out or travel, making every dollar spent in these categories more rewarding.
Annual Travel Credit
The card provides up to $50 in statement credits each account anniversary year for hotel stays purchased through Chase Travel. This benefit effectively reduces the annual cost of card ownership and encourages cardholders to book their hotel stays through Chase, ensuring they get the most out of their card.
No Foreign Transaction Fees
For travelers, the absence of foreign transaction fees on purchases made abroad is a significant advantage. This benefit allows cardholders to use their card internationally without incurring additional charges, making it an ideal choice for those who travel outside the United States.
1:1 Point Transfer to Partner Airlines and Hotels
The Chase Sapphire Preferred Card offers the flexibility of 1:1 point transfer to leading airline and hotel loyalty programs. This feature allows cardholders to maximize the value of their points by transferring them to a variety of partners, providing the opportunity to take advantage of the best deals and rewards available across different programs.
Comprehensive Travel and Purchase Coverage
Cardholders benefit from a suite of travel and purchase protections, including trip cancellation/interruption insurance, auto rental collision damage waiver, baggage delay insurance, and more. These protections offer peace of mind when traveling or making significant purchases, ensuring that cardholders are covered in various unforeseen circumstances.
Prerequisites to obtain the Chase Sapphire Preferred credit card
The Chase Sapphire Preferred has specific requirements that applicants must meet to be considered for approval. Take a look below:
- Age and Residency: Applicants must be at least 18 years old and have a valid Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN). They must also be a legal resident of the United States.
- Credit Score: A good to excellent credit score is typically required for the Chase Sapphire Preferred Card. This usually means a credit score of 690 or higher, though the exact score needed can vary.
- Income: Applicants must have a steady income to demonstrate the ability to repay any credit extended. Chase does not specify a minimum income requirement, but the applicant’s income level will be considered during the approval process.
- Credit History: A solid credit history, free of major financial problems such as bankruptcies or accounts in collections, is essential to apply for this card. The length of credit history, credit utilization, and history of on-time payments will also be evaluated.
- Chase’s 5/24 Rule: Chase is known for its unofficial “5/24” rule, where applicants who have opened five or more personal credit cards (with any issuer) in the past 24 months are likely to be denied.
About Chase Bank Financial Institution
Chase Bank is the consumer and commercial banking arm of the larger JPMorgan Chase financial services firm. Here’s a quick rundown:
- Large and Established: Chase is the biggest bank in the US by assets, boasting over 5,100 branches and 17,000 ATMs nationwide.
- Variety of Products: They offer various products, including checking and savings accounts, credit cards, mortgages, auto loans, and investment services.
- Online Banking: They have a robust online banking platform for managing finances conveniently.
If you’re looking for a major bank with a wide range of services and a large branch network, Chase Bank is a strong contender.
Who is this Card for?
The Chase Sapphire Preferred Card is ideal for frequent travelers and diners seeking rewards on travel and dining expenses. It offers significant points, no foreign transaction fees, travel and purchase coverage, and the ability to transfer points to airline and hotel partners, with a moderate annual fee.
Step by Step to Apply for the Chase Sapphire Preferred credit card
The Chase Sapphire Preferred Card application procedure is simple and can be performed online. This is an in-depth introduction to assist you with the application process:
- Visit the Official Chase Sapphire Preferred Card Page: start by going to the official Chase Sapphire Preferred Card page
- Review Card Details: Make sure the card fits your needs by taking a moment to go over the annual fee, rewards program, benefits, and any other relevant information before applying.
- Click on “Apply Now”: Click on the “Apply Now” button when you’re ready to move forward. You’ll be able to find the application form only after that.
- Fill Out the Application Form: Fill out the application by providing your employment, financial, and personal details. Information like your name, residence, income, and Social Security number (SSN) will be included in this.
- Review and Submit: Check the accuracy of all the information you supplied before submitting your application. After that, submit your application and accept the terms and conditions.
- Wait for Approval: After submission, you will typically receive a decision within a few minutes. However, in some cases, it may take longer if additional information is needed.
Pros and Cons of the Card
Offering a variety of advantages, the Chase Sapphire Preferred Card appeals to a broad spectrum of customers, particularly those who travel and eat out frequently. Like any financial product, though, it has advantages and disadvantages. The primary points are outlined as follows:
Pros
- Generous Sign-Up Bonus: New cardmembers can earn 60,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening, equivalent to $750 toward travel when redeemed through Chase Travel.
- Reward Points on Spending: Earns 5x points on travel purchased through Chase Travel (excluding hotel purchases that qualify for the $50 Annual Hotel Credit), 3x points on dining, 3x points on online grocery purchases, 3x points on select streaming services and 2x points on other travel purchases.
- Annual Hotel Credit: Offers up to $50 in statement credits each account anniversary year for hotel stays purchased through Chase Travel.
- No Foreign Transaction Fees: Ideal for international travelers, as it does not charge any fees on foreign transactions.
- Flexible Redemption Options: Points can be transferred on a 1:1 basis to several major airline and hotel loyalty programs, increasing the potential value of points.
- Travel and Purchase Protections: Includes trip cancellation/interruption insurance, auto rental collision damage waiver, and more.
Cons
- Annual Fee: There’s a $95 annual fee, which might be a burden for some users, especially those who may not spend enough to offset the fee through rewards.
- Credit Requirements: Requires a good to excellent credit score for approval, limiting accessibility for some potential applicants.
- Limited Bonus Categories: While the card offers high rewards rates on travel and dining, everyday spending categories such as gas earn only 1 point per dollar.
- No Intro APR Offer: Unlike some other credit cards, it does not offer an introductory APR on purchases or balance transfers.
How to Activate the Card?
Activating your Chase Sapphire Preferred Card is a quick and easy way to make sure it’s ready to use as soon as you receive it. Here’s how to get your card activated:
- Online Activation: Log in to your Chase account by visiting the Chase website. You will need to make an account if you don’t already have one. After logging in, follow the prompts to enter the card details to activate your new card.
- Mobile App Activation: To activate your card via the mobile app, download the Chase Mobile app from the Google Play Store or the App Store. Seek for the card activation option on the app after logging in or creating an account. To activate it, enter the details of your card.
- Call to Activate: You have the option to use the phone number that comes with your new card to activate it. This number can be found in the paperwork that goes with the card or on a sticker that is affixed to the front of the card. To activate your card, either follow the automated prompts or contact customer support.
To find out more about how to activate your card, go to the official Chase Bank card activation webpage.
Fees and Tariffs
Here’s a summary of the main costs associated with the Chase Sapphire Preferred Card:
- Annual Fee: $95
- Purchase APR: Variable 21.49% to 28.49%, based on creditworthiness and market rates.
- Balance Transfer APR: Variable 21.49% to 28.49%, based on creditworthiness.
- Cash Advance APR: Variable 29.99%, may vary with the market based on the Prime Rate.
- Penalty APR: If you make a payment that is returned unpaid or do not make the minimum payment by the deadline, you may be charged up to 29.99%. This APR could be applicable for an unlimited period of time.
- Balance Transfers: Either $5 or 5% of the amount of each transfer, whichever is greater.
- Cash Advances: Either $10 or 5% of the amount of each transaction, whichever is greater.
- Foreign Transactions: No charges applied
- Minimum Interest Charge: No charge applied
Customer Service
You can get support or additional details about the Chase Sapphire Preferred Card by contacting Chase through the following official channels:
- Official Website: Go to the Card’s official webpage for comprehensive details about the Chase Sapphire Preferred Card.
- Call Center: 1-800-432-3117 is the number to reach Chase customer service directly for assistance.
- Chase Mobile App
