How long is the Chase Sapphire Preferred grace period? This question is about the Chase Sapphire Preferred® Card

How long is the Chase Sapphire Preferred grace period?

Answer Question Report Abuse

This question is about the Chase Sapphire Preferred® Card

WalletHub, Financial Company

@WalletHub • 02/07/22 This answer was first published on 07/02/20 and it was last updated on 02/07/22.For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

Permalink Report Abuse

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.

Here’s more info about the Chase Sapphire Preferred grace period:

Keep in mind that you are not required to pay the entire balance by the due date. But if you decide to pay less than the full amount due, you will lose the grace period. The remaining Chase Sapphire Preferred balance and any new purchases will then start to accrue interest that compounds daily. To get a credit card grace period back, you will need to pay the statement balance in full for two consecutive months.

Keep in mind that the Chase Sapphire Preferred grace period only applies to purchases. That means any cash advances or balance transfers you make will begin to accrue interest the day you make them. You should probably avoid these transactions, anyway – cash advances and balance transfers are both expensive with this card.

Answer Question

How much is the Chase Sapphire Preferred late fee?

The Chase Sapphire Preferred late fee is a maximum of $29 for the first late payment. The late fee increases to a maximum $40 on late payments that occur within the following 6 billing periods. Chase Sapphire Preferred late fees will never be more than the minimum payment amount due. The Sapphire Preferred card also does not charge a penalty APR which means Chase won’t automatically raise your interest rate because of late payments.… read full answer

show less

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.

… read full answer

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 credit score, income, and other existing debts, along with your credit utilization.

The closer to perfect your credit is and the more money you make relative to what you owe, the higher credit limit you can expect.

You can also ask for a Chase Sapphire Preferred credit limit increase by calling the number on the back of your card. However, there is no guarantee you’ll be approved. You should also note that credit limit increase requests will trigger hard pulls, which can temporarily hurt your credit score.

To increase your chances of approval, it’s best to make sure you’ve paid the bill on time for at least six straight months.

Not many cards have minimum credit limits higher than Chase Sapphire Preferred’s, but Chase Sapphire Reserve® is one of them. Chase Sapphire Reserve’s limit is $10,000 or more.

show less

WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.

WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.

Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.

Ask a Question

140

Ask Question

Ask Your Question

WalletHub Transparency

We are committed to being fully transparent with our readers. Opinions expressed here are the author’s and/or WalletHub editors'. WalletHub editorial content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by any company. In addition, it is not any company’s responsibility to ensure all questions are answered.