Beyond travel, the Chase Sapphire Preferred is an excellent card for everyday use. With its simple earning structure and ability to redeem points for travel, cash back, gift cards, or even Amazon purchases, it's easy to get value no matter how you spend.
What does your credit score need to be to get the Chase Sapphire Preferred card? While there is no set score needed, we recommend you have a credit score of at least 670, a clean 2 years of credit history, and an income of at least $30,000 per year.
If you prefer branch accessibility, sign-up bonuses and lower overdraft protection fees, Chase Bank may be the best option for you. Chase currently has over 4,700 branches established in 48 states while Citi only has 700. Chase often offers generous sign-up bonuses for new customers.
The Sapphire Preferred doesn't have the highest earning rates out there, but it still offers a solid return on many purchases: 5 points per dollar on travel booked through Chase Travel. 5 points per dollar on Lyft rides (through March 31, 2025)
Visa Signature-branded credit cards, such as the Chase Sapphire Preferred® Card typically offer a starting credit limit of $5,000 or more. Credit Karma user data suggests that the average limit for the Chase Sapphire Preferred is around $10,000.
The cons of banking with Citi are that its banking fee structure is complicated, and certain markets aren't eligible for the bank's high-yield savings account.
Chase has a traditional savings account and a premium savings account. The main downside to both accounts is that they pay low savings rates.
The 5/24 rule, often referred to as the Chase 5/24 rule, is an unofficial Chase guideline that states you will not be approved for a new Chase card if you have opened five or more credit card accounts from any bank within the past 24 months.
Generally, you'll need to have a credit score of at least 700 in order to qualify for the Chase Sapphire Preferred® Card. It is possible for you to qualify with a lower score — or even be rejected with a higher score — but to improve your odds of being approved, aim to have a score above 700.
Are there Chase Sapphire Preferred airport lounges? Priority Pass membership is not a benefit of the Chase Sapphire Preferred card. However, this shouldn't prevent you from exploring Priority Pass memberships, which begin at $99. The Chase Sapphire Preferred card offers other premium dining and travel rewards.
The Chase Sapphire Preferred Card requires an annual income of at least $30,000, according to user reports. Chase doesn't publicly disclose the Sapphire Preferred Card's income requirements, but you can apply for the card if you meet the credit score requirement, are at least 18 years old, and have an SSN or ITIN.
The Chase Sapphire Preferred® Card isn't exclusively for rich people, though a high income will help you afford the $95 annual fee. High-income cardholders may also find it easier to spend enough to qualify for the card's initial bonus of 60,000 points for spending $4,000 in the first 3 months.
Pay your balances on time: Avoid carrying a balance on your credit card if possible. When your statement is issued, you'll have a statement balance and a minimum amount due. If you pay the statement balance on time, there should not be a balance to charge interest on.
Undoubtedly, the most high-profile payment card in the world is often considered the American Express Centurion Card, commonly known as the “Amex Black Card.” However, true exclusivity goes beyond mere recognition; it embodies a luxury and distinction that few can access.
Owning more than two or three credit cards can become unmanageable for many people. However, your credit needs and financial situation are unique, so there's no hard and fast rule about how many credit cards are too many. The important thing is to make sure that you use your credit cards responsibly.
You will need a fair to excellent credit score to qualify for the best Citi credit cards. A fair score is generally considered 580 to 669, a good credit score ranges from 670 to 739 and an excellent score is 740 and above.
More branches or more ATMs
For more branches, Chase may be better for you. But for more free ATMs and higher CD rates, Citibank may be more attractive. Both banks have a range of accounts and services, but they're similarly bogged down by poor rates.
Citi is a bank that's uniquely positioned for this moment. Through our vast global network and our on-the-ground expertise, we can connect the dots, anticipate change and empathize the needs of our clients in ways that other banks simply cannot.
Citibank, a renowned name in the financial world, is known for its exceptional services, global presence, and innovative approach to banking. Another part of Citi that holds great value is their talented and diverse workforce, that is made of individuals from various backgrounds and expertise.
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.
A credit limit is usually determined by reviewing factors like credit score, credit history and debt-to-income ratio. A higher credit score and positive credit history may cause a lender to set a higher credit limit. Credit utilization and credit mix also tend to be considered when lenders determine a credit limit.
The Chase Sapphire Preferred Card and the Chase Sapphire Reserve® are both made out of metal. In fact, when the Reserve made its debut in 2016, it was so popular that the card issuer temporarily ran out of metal to make more.