The Chase Sapphire Preferred annual fee is $95 per year. Chase Sapphire Preferred’s $95 annual fee is higher than the average annual fee among new credit card offers right now. It’s not the only fee you need to worry about with the Chase Sapphire Preferred® Card, either.
Chase Sapphire Preferred Fees
Annual Fee: $95
Cash Advance Fee: Either $10 or 5% of the amount of each transaction, whichever is greater.
Foreign Fee: $0
Balance Transfer Fee: Either $5 or 5% of the amount of each transfer, whichever is greater.
Chase credit card annual fees depend on the card. Several Chase credit cards come with a $0 annual fee, while others charge up to $550, annually.
Chase applies an annual fee to some of its credit cards to help cover the cost of the card’s benefits and rewards. For example, the … read full answerChase Sapphire Preferred® Card and the Chase Sapphire Reserve® card are among the best travel rewards cards on the market and they annually charge $95 and $550, respectively. There’s also a host of co-branded airline and hotel rewards cards that offer an array of perks and rewards, so you should plan to pay an annual fee if you should decide to use any of these cards.
Whether a Chase credit card with an annual fee is worth it depends on your lifestyle, your spending habits, and rewards and travel preferences. If you’re a frequent traveler and loyal to a particular airline or hotel chain, the annual fee will more than pay for itself. If you don’t travel much, or don’t anticipate making any big purchases over the course of a year, stick with a Chase credit card with no annual fee.
Chase Sapphire Preferred is worth the $95 annual fee, as long as you spend at least $1,334 per month. That will enable you to qualify for the card’s initial rewards bonus, which will cover the cost of many years’ annual fees.
You get 100,000 points when you spend $4,000 during the first 3 months after you open your account. That’s a value of $1,250 when you redeem for travel through Chase Ultimate Rewards. (Points are worth 1 cent each, plus Chase Ultimate Rewards gives you an extra 25% redemption value.) The bonus alone will pay for 10+ years’ of membership dues.… read full answer
The third type of bonus you can get is from referrals. You earn 15,000 points for every person who signs up for Chase Sapphire Preferred using your referral link, with a limit of 75,000 points per year. That means you can earn an extra $188-$938 in travel every year, more than enough to offset the annual fee. You can’t forget about the everyday rewards you’ll earn on purchases, either.
Plus, Chase Sapphire Preferred has more benefits than just reward points. There are no blackout dates or other travel restrictions. And you’ll get a number of other free perks like travel insurance, roadside assistance, and purchase protection. All of these things enhance the value of this card even more.
Therefore, while Chase Sapphire Preferred’s annual fee certainly is above average, the rest of the offer is, too. So as long as you have excellent credit and spend enough to qualify for the initial bonus, Chase Sapphire Preferred is well worth the price.
Chase points are worth 1.15 cents per point, on average. The value of Chase points depends on which Chase credit card you have and how you choose to redeem the points. For example, points from Chase are worth up to 1.5 cents each when redeemed for travel through Chase Ultimate Rewards, and they are worth 1 cent each when redeemed for cash back. … read full answer
One thing worth noting is that the Chase Sapphire Preferred, Sapphire Reserve and Ink Business Preferred credit cards give 25% to 50% more value per point than other Chase credit cards when redeeming for travel through Chase Ultimate Rewards.
Tips for Maximizing the Value of Chase Points
Redeem Points for Ultimate Rewards Travel.
Chase points are worth the most when redeemed for travel through Chase Ultimate Rewards, but you need the right Chase credit card.
Get a Chase Sapphire card.
Chase Sapphire Preferred points are worth 1.25 cents apiece when redeemed for Ultimate Rewards travel, or you could get 1.5 cents per $1 point in value from Chase Sapphire Reserve.
Redeem Chase points regularly.
Chase points do not expire due to account inactivity, but stockpiling points does put you at risk of rewards devaluation. Plus, you won't get to enjoy the fruits of your spending if you don't redeem.
Keep your account in good standing.
If Chase closes your account because of a failure to pay the bill or fraudulent activity, you'll lose any unredeemed points you have saved.
Redeem before closing your account.
Any points you don't redeem before closing your account will be lost.
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