No, the Chase Sapphire Preferred credit card does not have a 0% APR offer for either purchases or balance transfers. Chase Sapphire Preferred is more suited for frequent travelers. It has a $0 foreign transaction fee. And it offers 5 points / $1 on travel purchases (booked through Chase Ultimate Rewards).
If you’re planning on making a large upcoming purchase and you intend on carrying a balance, you should get a 0% APR credit card. Just keep in mind that most of these credit cards require at least good credit for approval. If you’d like to know where you stand, you can check your credit score for free, right here on WalletHub.
The Chase Sapphire Preferred APR is 16.24% - 23.24% (V). Newly approved applicants are assigned a rate from Chase Sapphire Preferred’s APR range based on their credit standing and ability to pay the bills. Chase Sapphire Preferred does not offer a lower introductory APR to new cardholders.
Chase Sapphire Preferred’s high interest rates are pretty much par for the course for a rewards card, since they’re not meant to be used for financing. Also, rewards cards tend to come with annual fees and are more suited for customers who pay their balance in full each month. And that’s exactly what you should do with Chase Sapphire Preferred. By always paying your bill on time and in full, you’ll save yourself a lot of money. There’s a penalty APR of up to 29.99% for paying late. But there is a late payment fee of up to See Terms if you don’t make at least the minimum payment.… read full answer
It’s also useful to note that there’s one more major type of Chase Sapphire Preferred APR; the cash advance APR, which is 25.24% (V). Essentially, you can use your credit card like a debit card to withdraw money from ATMs. But you’ll be hit with this even-higher-than-normal APR on whatever you borrow, with no grace period. And on top of that you’ll have to pay a fee: Either $10 or 5% of the amount of each transaction, whichever is greater. You should only do a cash advance if you’re in an emergency situation and have no other options.
The Chase Freedom Unlimited credit card has introductory APRs of 0% for 15 months for purchases and balance transfers. Once the intro periods expire, any remaining balance on the Chase Freedom Unlimited credit card will be subject to the regular APR of 15.24% - 23.99% (V).
It’s important to remember that even though you don’t pay interest during 0% APR periods, you still must make timely minimum payments each month. You should also consider paying more than the minimum, since you’ll want to pay off the credit card balance before the regular APR kicks in. And you should also consider the balance transfer fee if you plan to transfer a balance to this card: Either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days (5%, min $5 after). For help planning your payments, try out WalletHub’s … read full answerCredit Card Calculator.
The only surefire way to get the $550 Chase Sapphire Reserve annual fee waived is if you’re an active servicemember and you check that box on the application. As long as Chase can confirm your active duty status, they won’t charge you any fees. Otherwise, your odds of getting a Chase Sapphire Reserve annual fee waiver are next to none. … read full answerChase Sapphire Preferred Card also has a $95 annual fee. But it’s not like Chase will penalize you for asking for a fee waiver, so why not give it a shot?
There are a few details you should be aware of before calling and asking for a fee waiver, though. And in the likely event that you don’t get one, you’ll need to know what perks are available to determine whether Sapphire Reserve is worth it.
Here’s what you should know about Chase Sapphire Reserve annual fee waivers:
If you’re in the armed forces full-time, you’re eligible to have all Sapphire Reserve fees waived, except for the returned check fee. You can get this benefit by indicating your service on the application (there’s a box to check off) or by calling Chase customer service at 1-800-432-3117. Chase will have to verify your status.
If you want to try for a fee waiver or reduction, you can call the number on the back of your card or the general Chase customer service line: 1-800-432-3117.
According to people who’ve had luck with fee waivers on other credit cards, having a high income and spending a lot can help. Since the issuer is already making a lot of money from the fees it charges merchants when you make purchases, the thinking goes, they might be more willing to give you a break.
The Chase Sapphire Reserve initial bonus is worth $750, which covers more than a year and a half of annual fees. And if you’re a frequent traveler, you should always get more than $450 in value per year, between the $300 annual travel credit, free airport lounge access, 3 points per $1 spent on travel and more benefits.
While it’s unlikely that you’ll get the Chase Sapphire Reserve annual fee waived, you might as well try. The worst that can happen is Chase will say “no.” But if you do have to pay $550 every year, just make sure you take advantage of the card’s huge list of benefits in order to get your money’s worth. That or get one of the many credit cards with no annual fee.
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