Chip Lupo, Credit Card Writer
@CLoop
No, Chase Sapphire Preferred is not free for the first year anymore. The Chase Sapphire Preferred® Card’s annual fee is $95, and it is first charged when a new cardholder opens the account, then every 12 months after that. Unless you’re an eligible member of the U.S. military, it’s unlikely that Chase will waive the annual fee. Still, there’s no harm in calling customer service at 1 (800) 432-3117 to request an annual fee waiver or a discount.
Chase Sapphire Preferred waived its annual fee for the first year until 2019, when it discontinued the promotion and increased the card’s initial bonus. Chase Sapphire Preferred’s bonus is currently one of the best credit card bonuses on the market, offering 75,000 points for spending $5,000 on purchases in the first 3 months.
Chase Sapphire Preferred’s annual fee is well above the $26.75 average for new credit card offers, according to WalletHub’s Credit Card Landscape Report. However, Chase Sapphire Preferred cardholders have plenty of opportunities to recoup the cost – particularly the hefty initial bonus, which will cover the fee several times over once you meet the spending requirement.
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People also ask
How can I get my Chase Sapphire Preferred annual fee waived?
The only way you may get the Chase Sapphire Preferred card’s $95 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 may not charge you any fees. Otherwise, your odds of getting a Chase Sapphire Preferred annual fee waiver are pretty small.
Chase Sapphire Preferred Annual Fee Waivers Details
- If you’re in the armed forces full-time, you’re eligible to...
Is the Chase Sapphire Preferred card free?
No, the Chase Sapphire Preferred card isn’t free, as it charges a $95 annual fee. In return for the annual fee, the card offers a big initial bonus and generous ongoing rewards. Cardholders also enjoy several valuable benefits.
If you are looking for a credit card that you can own for free, there are several good options to choose from. Just apply for a credit card with no annual fees, monthly fees, or one-time "processing" fees, and avoid interest charges by paying the bill in full by the due date every month the...
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