Chip Lupo, Credit Card Writer
@CLoop
Yes, you can carry a balance on the Chase Sapphire Preferred® Card, which allows you to pay off your purchases and other transactions over time. There is a minimum monthly payment you must make, and you can carry the remaining balance. Keep in mind that carrying a balance may not always be the best idea, as it leads to interest charges.
Key Things to Know About Carrying a Balance on the Chase Sapphire Preferred
- Carrying a balance allowed? Yes
- Minimum monthly payment: Any past-due amount, plus either $40 or 1% of the new balance (including any interest and fees), whichever is higher.
- Regular APR: 19.99% - 28.24% (V)
- Cash advance APR: 29.24% (V)
If you want to calculate how long it will take to pay off a balance with a certain monthly payment, or how much of a payment you will need to make to pay off your card in a certain amount of time, you can check out WalletHub’s free credit card payoff calculator.
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People also ask
How can I do a balance transfer with the Chase Sapphire Preferred card?
You can do a balance transfer with the Chase Sapphire Preferred card either online or over the phone at (800) 945-2000. To transfer a balance online, you need to enter the amount you want to transfer, verify the information, and submit the request. Just keep in mind that balance transfers are expensive with this card as there are no intro balance transfer APRs available.
People who shift existing credit debt to Chase Sapphire Preferred will immediately start owing interest at...
read full answer by Maria Adams, Credit Cards ModeratorDoes the Chase Sapphire Preferred card have a grace period?
The Chase Sapphire Preferred grace period is at least 21 days. The grace period lasts from the end of each billing period to the payment due date. If you pay your statement balance in full every month, Chase will not charge any interest.
What you should know about the Chase Sapphire Preferred grace period:
- You are not required to pay the entire balance by the due date. But if you decide to pay less than the full...
What is the Chase Sapphire Preferred credit limit?
The Chase Sapphire Preferred credit limit is $5,000, at a minimum. But some cardholders can get a credit limit higher than that. Plenty of Chase Sapphire Preferred cardholders report limits of at least $10,000, and some say they have a limit of $20,000 or more. Chase doesn’t publicly disclose the Chase Sapphire Preferred maximum credit limit.
What you should know about the Chase Sapphire Preferred credit limit:
- The credit limit you get on your Chase Sapphire Preferred will depend mainly on your...
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