Unlock Limitless Rewards Without Breaking The Bank: When Is Chase Sapphire Preferred Annual Fee Charged?
What To Know
- The annual fee cycle for the Chase Sapphire Preferred® Card begins on the account anniversary date and lasts for 365 days.
- By understanding when the annual fee is charged and how to offset its cost, cardmembers can maximize the card’s benefits and make the most of their membership.
- The first annual fee will be charged on the account anniversary date, which is typically the same as the date when the card was opened.
The Chase Sapphire Preferred® Card‘s annual fee is charged annually on the cardmember’s account anniversary date. This date is typically the same as the date when the card was opened.
Understanding the Annual Fee Cycle
The annual fee cycle for the Chase Sapphire Preferred® Card begins on the account anniversary date and lasts for 365 days. During this period, cardmembers are responsible for paying the annual fee to maintain their card membership.
Fee Amount and Payment
The annual fee for the Chase Sapphire Preferred® Card is $95. It is automatically charged to the cardmember’s account on the anniversary date. Cardmembers can pay the fee online, by phone, or by mail.
Avoiding the Annual Fee
There is no way to avoid the annual fee for the Chase Sapphire Preferred® Card. However, cardmembers can offset the cost of the fee by utilizing the card’s rewards and benefits, such as:
- Earning Ultimate Rewards points: Cardmembers earn 2 points per dollar on all purchases, making it easy to accumulate points towards travel, dining, and other rewards.
- Travel benefits: The card offers a variety of travel perks, including trip cancellation/interruption insurance, baggage delay insurance, and airport lounge access.
- Shopping benefits: Cardmembers enjoy exclusive discounts and offers on shopping, dining, and entertainment.
Additional Fees to Consider
In addition to the annual fee, there are other fees that cardmembers should be aware of:
- Balance transfer fee: 5% of the amount transferred, with a minimum of $5.
- Cash advance fee: 5% of the amount advanced, with a minimum of $10.
- Foreign transaction fee: 3% of the amount charged in a foreign currency.
When is the Best Time to Apply for the Chase Sapphire Preferred® Card?
The best time to apply for the Chase Sapphire Preferred® Card is when you are eligible for the welcome bonus. The welcome bonus typically consists of a large number of Ultimate Rewards points that can be redeemed for travel, dining, and other rewards.
Takeaways: Making the Most of Your Chase Sapphire Preferred® Card
The Chase Sapphire Preferred® Card offers a suite of valuable rewards and benefits. By understanding when the annual fee is charged and how to offset its cost, cardmembers can maximize the card’s benefits and make the most of their membership.
Quick Answers to Your FAQs
Q: When will I be charged my first annual fee for the Chase Sapphire Preferred® Card?
A: The first annual fee will be charged on the account anniversary date, which is typically the same as the date when the card was opened.
Q: Can I pay my annual fee before the due date?
A: Yes, you can pay your annual fee at any time before the due date. However, you will not receive a refund if you cancel your card before the end of the annual fee cycle.
Q: What happens if I don’t pay my annual fee?
A: If you do not pay your annual fee by the due date, your Chase Sapphire Preferred® Card account will be closed. You will also lose any remaining Ultimate Rewards points.