Chip Lupo, Credit Card Writer
@CLoop
You need to spend at least $1,520 per year to make Chase Sapphire Preferred worth it, depending on what you purchase. The best way to get your money’s worth from Chase Sapphire Preferred is to qualify for its initial bonus, use the card for travel and dining purchases, and pay the bill in full each month.
Chase Sapphire Preferred offers 75,000 points for spending $5,000 on purchases in the first 3 months. That bonus is redeemable for $750 when redeemed for cash, gift cards, and travel. The initial bonus alone will cover the card’s $95 annual fee for several years.
In addition, Chase Sapphire Preferred offers 1 - 5 points per $1 spent on purchases.
To learn more, check out WalletHub’s full Chase Sapphire Preferred review.
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People also ask
How much do I have to spend on Chase Sapphire Reserve to break even?
You have to spend approximately $18,333 per year (an average of $1,527 per month) on travel and dining or $55,000 on non-travel/dining purchases to break even with the Chase Sapphire Reserve Card. This is without taking into account the card’s initial bonus or other big benefits. New cardholders would just need to spend $6,000 in the first 3 months on the card to recover the cost of the annual fee.
By meeting the spending requirement, you earn...
read full answer by Maria Adams, Credit Cards ModeratorHow much are 80,000 Chase points worth?
80,000 Chase points are worth around $760 with most Chase credit cards, whether you spend them on travel, cash back, gift cards, experiences or shopping.
How Much 80,000 Chase Points Are Worth
| Category | Average Value |
| Travel | $760 |
| Cash Back | $760 |
| Merchandise | $760 ... |
Is it hard to get Chase Sapphire Reserve card?
It is hard to get the Chase Sapphire Reserve® card because you need an excellent credit score to qualify. You will need a credit score of 750 or higher for good approval odds, as well as an SSN or ITIN and enough income to afford the monthly bill payments. You can check your credit score for free, right here on WalletHub.
What You Need to Get Chase Sapphire Reserve
- Excellent credit score of 750+
- Steady income
- Low...
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