Maria Adams, Credit Cards Moderator
@m_adams
The Chase Sapphire Preferred APR is 20.24% - 27.24% (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. That’s because these cards are 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.
Here is what you need to know about the Chase Sapphire Preferred APR:
- Regular APR: 20.24% - 27.24% (V), based on each approved applicant’s income, debt, and credit score, among other factors. The card’s interest rate is variable, meaning it can change based on certain economic conditions.
- Cash Advance APR: The cash advance interest rate is 29.24% (V). Cash advances are also subject to a fee of Either $10 or 5% of the amount of each transaction, whichever is greater.. There is no grace period for cash advances, so interest starts to accumulate as soon as you complete the transaction.
- Penalty APR: The penalty APR is up to 29.99% (V). This APR may be applied to your account when making a late payment or for returned payments. Note that besides the penalty interest rate, there is also a late payment fee if you don’t make at least the minimum payment.
You can avoid Chase Sapphire Preferred APRs altogether by staying away from cash advances and by always paying the entire balance in full and on time.
Ultimately, note that all Chase Sapphire Preferred card APRs will be listed on your statement and on your online account summary.

Chase Sapphire Preferred® Card
Mark Farms, Member
@mark_farms
The better your credit is, the lower you'll get.
People also ask
Did we answer your question?