Chase Sapphire Preferred vs. Chase Freedom
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Please note: Chase Freedom® may no longer be available to new applicants.
The Verdict: This is something of an apples-to-oranges comparison, despite both offers requiring good-to-excellent credit for approval, as Chase’s Sapphire Preferred and Freedom cards serve somewhat different needs. Sapphire Preferred offers rewards in the form of points and is geared toward travel, whereas Freedom positions itself as a cash-back card for everyday expenses. Sapphire Preferred isn’t built for carrying a balance from month to month, but Freedom’s 15-month 0% intro term gives it some financing functionality. And Freedom has no annual fee, whereas Sapphire Preferred charges $95.
In fact, those complementary differences are why some people use Chase Freedom and Sapphire Preferred in combination. But if you want to pick just one, the decision figures to center on the cards’ respective initial bonuses and your tolerance for rotating rewards categories. Sapphire Preferred’s 60,000 points for spending $4,000 within 3 months of account opening are redeemable for $750 in travel expenses, which dwarfs Freedom’s $200 for spending $500 in the same timeframe. And while Freedom’s maximum earning rate (5% back) is higher than Sapphire Preferred’s (2 points per $1 spent on travel and dining), that Freedom rate applies to only the first $1,500 spent in bonus categories that change on a quarterly basis (and require you to sign up just as frequently).
You can take a closer look at the tradeoffs between these Chase credit cards below.
SIDE BY SIDE COMPARISON
General
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Network | VISA | VISA |
Credit Card Company | Chase | Chase |
Min Credit Required | Excellent or Good | Excellent or Good |
Annual Fee | $0 | $95 |
Purchases
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Intro APR | 0% | N/A |
Intro APR Period | 15 months | N/A |
Regular APR | 14.99% - 23.74% (V) | 15.99% - 22.99% (V) |
Transfers
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Intro APR | N/A | N/A |
Intro APR Period | N/A | N/A |
Regular APR | 14.99% - 23.74% (V) | 15.99% - 22.99% (V) |
Transfer Fee | 5% (min $5) | Either $5 or 5% of the amount of each transfer, whichever is greater. |
Rewards
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Reward Type | Cash Back | Points |
Reward Bonus | $200 | 60,000 points |
Reward Cap | No | No |
Reward Details |
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Penalties
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Max Late Fee | See Terms | See Terms |
Max Overlimit Fee | See Terms | See Terms |
Max Default APR | None | None |
Cash
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Cash APR | 24.99% (V) | 24.99% (V) |
Cash Advance Fee | Either $10 or 5% of the amount of each transaction, whichever is greater. | Either $10 or 5% of the amount of each transaction, whichever is greater. |
Other
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Additional Info |
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One-time Setup Fees | None | None |
Foreign Transaction Fee | 3% of each transaction in U.S. dollars | $0 |
Grace Period | See Terms | See Terms |
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Chase Sapphire Preferred vs. Chase Freedom: Initial Bonus
This one’s no contest. Sapphire Preferred’s bonus worth $750 in travel dominates Freedom’s $200 in cash. The one saving grace for Freedom’s bonus, however, is that it gives you 5% cash back on groceries, up to $12,000 spent the first year. Plus, you will get much more value per dollar spent: $0.40 versus Sapphire Preferred’s $0.19.
Category Winner: Sapphire Preferred
Chase Sapphire Preferred vs. Chase Freedom: Ongoing Rewards
Fees and initial bonuses aside, the average person (who spends $32,010 annually) would earn roughly $45 more with Freedom ($960) than Sapphire Preferred ($915) over the first two years of use. But that assumes Freedom’s bonus categories perfectly match the user’s spending habits, which is far from guaranteed — perhaps even unlikely.
With that in mind, we’ll call this category a draw. Freedom has the edge in terms of pure dollars and cents, but Sapphire Preferred isn’t far behind and has a big advantage when it comes to convenience. You have to register for Freedom’s new bonus categories each quarter, after all.
Category Winner: Tie
Chase Sapphire Preferred vs. Chase Freedom: Interest Rates
Another area where the call is far from close, Chase Freedom’s financing capabilities dominate those of its sibling Sapphire Preferred. Freedom offers 0% for 15 months on purchases, whereas Sapphire Preferred has no low-rate intro financing option. When it comes to regular rates, Freedom is again preferable, for context, the average credit card requiring good credit for approval has a 19.3% regular APR, according to our latest Credit Card Landscape Report.
Category Winner: Freedom
Chase Sapphire Preferred vs. Chase Freedom: Fees
Nobody likes credit-card fees, particularly annual and foreign-transaction fees. They’re pretty much sunk costs that are only worthwhile if the card’s rewards structure will be able to outweigh the cost, based on your spending habits.
The Chase Freedom Card doesn’t assess an annual fee, whereas Sapphire Preferred charges $95. But it’s worth noting that Sapphire Preferred’s best feature — its hefty initial bonus — is attainable in just three months and can offset years of annual fees.
And the differences do not stop here, Chase Freedom imposes a foreign-transaction fee of 3% and charges a balance-transfer fee of 5%, while Chase Sapphire Preferred does not charge a foreign-transaction fee and charges a 5% balance-transfer fee.
As a result, both of these cards have their strengths and weaknesses when it comes to fees. Sapphire Preferred is best for high-spending travelers who don’t plan to keep the card for more than a few years, with Freedom being more appropriate for everyone else — fee-wise, at least. But we have to give the tiebreaker to Freedom given its lack of fixed annual costs.
Category Winner: Freedom
Chase Sapphire Preferred vs. Chase Freedom: Consumer Reviews
Our editors have a far higher opinion of Chase Sapphire Preferred than Chase Freedom, giving the former 4.5 out of 5 stars while the latter received 3.3 stars.
WalletHub users appear to feel the same way, giving Sapphire Preferred an average rating of 4.0 out of 5, compared to 3.8 for Freedom.
Category Winner: Sapphire Preferred
Still Not Sure?
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