Chase is one of the most prominent credit card issuers in the United States. It offers cards with generous rewards even for those with bad credit. Speaking of rewards, there are two cards from Chase that stand out proudly – the Chase Sapphire Preferred and Chase Freedom. How does one compare with the other? Which one best suits your situation?
Promos and Fees
If you love bonuses, the Chase Sapphire Preferred is probably your best choice. It comes with a total of 40,000 Ultimate Rewards points, which can be redeemed for air travel tickets worth $500 to $625. That is a lot of free money, but of course, there is a price – there is a required minimum spending limit that you need to reach within the first three months of card membership before you can avail of this reward.
If you want a more achievable rate, Chase Freedom only requires you to spend $500 for the first three months. However, you will only get a small bonus for this. There is no clear winner here, as it will depend on how you plan on spending your initial credits. If you are willing to achieve the required minimum purchase for Chase Sapphire Preferred, then obviously, the said card will be a better deal.
When it comes to the introductory APRs, Chase Freedom beats Sapphire Preferred. For 15 months, Freedom does not accrue interest on both purchases and balance transfers. On the other hand, Sapphire Preferred does not have an intro offer.
If you are a frequent traveler and you use Sapphire Preferred overseas, you don’t have to worry about foreign transaction fees. Freedom charges up to 3%, making the other the true winner for an international traveler. Nevertheless, Freedom does not charge an annual fee, while Sapphire Preferred costs $95 yearly.
Benefits and Rewards
Aside from the welcome bonuses, both Freedom and Sapphire Preferred are created for spenders. Freedom is a great card for those who want a no-frills rewards structure. There are no spending tiers – just 1% cash back on every purchase you make. This makes it easier for you to calculate the total amount you can redeem each year. Plus, the rewards are in cash back form, which is more upfront than points or miles. You can also earn bonus cash backs if you enroll for different categories, which revolve every three months.
Meanwhile, Chase Sapphire Preferred is more focused on rewarding travelers. Although one point is guaranteed for all purchases you make, travel and dining expenses let you earn two points for every dollar. You also get a 7% increase for all the points you have accumulated each year. This card also comes with price protection, which allows you to receive a refund in case you have paid for an item with a differing price than what has been advertised.
Which Card Wins?
It is always difficult to say which card is the best, because it will ultimately depend on the cardholder’s lifestyle. In the case of the Chase Sapphire Preferred vs. Chase Freedom, the former is better if you want great rewards, benefits, and customer assistance for frequent travelers. If you crave for simplicity but with a high percentage of rewards, Chase Freedom is a good option.
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