The Chase Sapphire Preferred Agreement: Everything You Need to Know
If you`re looking for a travel rewards credit card, you may have heard of the Chase Sapphire Preferred. This card is known for its generous rewards program, which allows you to earn points for every dollar you spend on travel and dining. But before you sign up for the card, it`s important to understand the terms and conditions of the Chase Sapphire Preferred Agreement.
What is the Chase Sapphire Preferred Agreement?
The Chase Sapphire Preferred Agreement is a legal document that outlines the terms and conditions of the Chase Sapphire Preferred credit card. This document includes information on things like interest rates, fees, rewards, and other important details that you need to know before using the card.
What are the key features of the Chase Sapphire Preferred Agreement?
Here are some of the key features of the Chase Sapphire Preferred Agreement that you should be aware of:
– Interest rates: The variable APR for purchases and balance transfers is currently between 15.99% and 22.99%, depending on your creditworthiness.
– Annual fee: There is a $95 annual fee for the Chase Sapphire Preferred card.
– Rewards program: The card allows you to earn 2x points per dollar on travel and dining, and 1x points per dollar on all other purchases. You can redeem points for travel, cash back, gift cards, and more.
– Sign-up bonus: If you spend $4,000 in the first three months of opening your account, you`ll earn 60,000 bonus points, which can be redeemed for $750 in travel through the Chase Ultimate Rewards program.
– Foreign transaction fees: There are no foreign transaction fees for the Chase Sapphire Preferred card, making it a great choice for international travel.
What are some important things to consider before applying for the Chase Sapphire Preferred card?
Before you apply for the Chase Sapphire Preferred card, there are a few important things you should consider:
– Your credit score: This card requires a good to excellent credit score, so be sure to check your score before applying.
– Your spending habits: If you don`t spend a lot on travel and dining, you may not earn enough points to make the annual fee worth it.
– Your travel plans: If you`re not planning on traveling anytime soon, you may want to consider a different rewards program that better suits your lifestyle.
– Your ability to pay off your balance: The interest rates on the Chase Sapphire Preferred card can be high, so be sure you can pay off your balance in full each month to avoid accruing interest charges.
In conclusion, while the Chase Sapphire Preferred card can be a great choice for those who travel frequently and dine out often, it`s important to read and understand the terms and conditions of the Chase Sapphire Preferred Agreement before signing up. This will help you make an informed decision and ensure that you`re getting the most out of your credit card rewards program.