Chase Sapphire Preferred®
Unlock high credit limits, up to $10,000+, earn 75,000 points as a welcome bonus, enjoy robust travel rewards, protections and a $95 annual fee.
Chase Sapphire Preferred® Card Overview
The Chase Sapphire Preferred® Card stands out for Canadians seeking high credit limits with premium travel rewards. This Visa Signature card typically offers starting limits of $5,000 or more. Many users report limits above $10,000 for well-qualified applicants. Its $95 annual fee is offset by strong benefits, including an annual $50 travel hotel credit and a notable 75,000-point welcome bonus for new members after spending $5,000 in the first three months.
The card’s competitive regular APR ranges from 19.49% to 27.74% variable, making it ideal for responsible consumers. Additional benefits include transferable points, extensive travel insurance, and 10% annual points boosts. Applicants should have a good-to-excellent credit score, with recommendations starting at 670. The combination of a high credit limit and valuable rewards can help users manage expenses, earn on travel, and benefit from robust protection features.
Many Canadians choose this card to maximize travel points, access top-tier travel partners, and enjoy flexibility in how they redeem rewards. The routine upgrade opportunities based on credit profile allow for even greater purchasing power over time.
How to Apply: Step by Step
1. Review your credit score and ensure it meets the minimum requirements (670+ is recommended).
2. Prepare accurate employment and income information for your application.
3. Complete the online application, including supporting documents if necessary.
4. Submit your application and await approval, which typically happens quickly.
5. Upon approval, set up your online account, activate your card, and start making purchases to work toward the welcome bonus.
Notable Pros
The Chase Sapphire Preferred® Card is prized for its high credit limits, allowing more flexibility for significant purchases or travel. Cardholders enjoy up to 5x points on travel, 3x on dining, and 10% annual points boosts, maximizing every dollar spent.
Another advantage is the $50 annual travel hotel credit, further enhancing value for those who book regular trips. The welcome bonus is attainable, and the ability to transfer points to travel partners adds redemption versatility.
Potential Cons
This card does come with a $95 annual fee, which may not appeal to those who seldom use travel benefits. Approval typically requires a good-to-excellent credit score, posing a barrier for some applicants.
Additionally, applicants should be mindful of the variable APR, as carrying a balance could quickly become costly despite its competitive nature for this card segment.
Verdict: Is Chase Sapphire Preferred® Right for You?
The Chase Sapphire Preferred® Card is an outstanding choice for Canadians aiming for high credit limits and top-tier travel rewards. If you frequently travel, value flexible rewards, and have strong credit, this card delivers excellent value. Consider your spending habits and goals to decide if its benefits align with your financial priorities.
