The Chase Sapphire Preferred Card is so popular because it offers valuable bonus rewards, travel benefits, and numerous transfer partners. You could earn roughly $2,000 in net rewards from the Chase Sapphire Preferred card in two years, factoring in the $95 annual fee, according to WalletHub calculations.

Benefits of the Chase Sapphire Preferred® Card

Potential drawbacks include the annual fee and an APR of 21.49% to 28.49% (V), which is higher than average among cards for good to excellent credit. However, if you pay off your balance in full each month, you won't have to worry about interest charges, and the rewards will likely outweigh the fees, especially if you travel frequently.

Chase Sapphire Preferred is one of the highest-rated cards on WalletHub, with an editor's rating of 5/5 and an average user rating of 4.0 / 5. You can learn more about this popular card from our full Chase Sapphire Preferred review.

Yes, you might be able to downgrade a Chase Sapphire Preferred card to Chase Freedom Unlimited®. To find out if you're eligible for a downgrade you will need to call customer service at (800) 432-3117. One of the eligibility requirements is that your Chase Sapphire Preferred account must be open for at least 12 months and in good standing.

If you do downgrade from Chase Sapphire Preferred to Chase Freedom Unlimited, the card number, credit limit and APR will stay the same. You can use...

The best Chase Sapphire Preferred Card benefits are trip delay reimbursement and waived DoorDash delivery fees on orders over $12. The Chase Sapphire Preferred® Card also has purchase protection and extended warranty protection, which are more common perks across Chase credit cards.

Chase Sapphire Preferred Card Benefits

• Trip delay reimbursement
• Waived DoorDash delivery fees on orders over $12
• Purchase protection
• Extended warranty protection
• Baggage delay insurance
• Travel and emergency assistance services
• Trip cancellation/interruption...

You can get a Chase Sapphire Preferred referral bonus for each friend that you invite to apply for the same card and gets approved. The referral bonus is 10,000 points for every referral who is approved and the limit is 75,000 points per calendar year. So, if you've already accumulated 70,000 bonus points within a calendar year, your next successful referral will only earn you an additional 5,000 bonus points, bringing you to the maximum limit of...

The Chase Freedom Unlimited foreign transaction fee is 3% of each transaction in U.S. dollars. This fee applies to transactions made both in person and online.

So, if you plan on spending a lot of money overseas or at foreign-based merchants, it can really add up quickly. Hence, you're better off using Chase Freedom Unlimited for your everyday purchases and getting a second card with no foreign transaction fee for your foreign purchases.

You can check out our editors' latest picks for the...

To maximize your Chase Sapphire Preferred rental car insurance benefit, decline the rental car company's coverage and charge all car rentals to your card. This benefit covers damage due to a collision or theft, up to the actual cash value of the rental car. Chase Sapphire Preferred also awards cardholders with 2 points per $1 spent on car rentals, and you should make sure to redeem for travel to get maximum value.

Chase Sapphire Preferred's rental car insurance coverage isn't...

There are 11 airlines and three major airline alliances that you can use with Chase Sapphire, all of which are listed below:

• Aer Lingus
• Air Canada Aeroplan
• British Airways
• Emirates Skywards
• Flying Blue AIR FRANCE KLM
• Iberia Plus
• JetBlue
• Singapore Airlines
• Southwest Airlines
• United Airlines
• Virgin Atlantic Major airline alliances:
• Oneworld airlines
• SkyTeam airlines
• Star Alliance airlines

How...

The best Chase Freedom Unlimited benefits include rental car insurance, trip cancellation/interruption protection, and extended product warranties. Both the Visa Platinum and Visa Signature versions of the Chase Freedom Unlimited card have those benefits. Chase chooses whether each Chase Freedom Unlimited applicant gets the Signature or Platinum version of the card based on the applicant's credit history and ability to pay.

Best Chase Freedom Unlimited Benefits

• Rental Car Insurance
  Provides secondary coverage for up to 31 consecutive days against damage and theft,...

The Chase Freedom Unlimited credit score requirement is at least 700. Chase requires a minimum of good credit to qualify for the Freedom Unlimited card, which means a credit score of 700 or higher will give you good odds of getting approved.

You should note that while your credit score is an important factor, there are plenty of other things that will impact your chances of being approved for the Chase Freedom Unlimited card, too. Some other key...

Applicants for the Chase Sapphire Preferred card need a credit score of 700 or higher for good approval odds. This card requires at least good credit to qualify, and the higher your credit score is, the better your approval odds will be.

You can check your latest credit score for free on WalletHub to see where you stand.

It's important to note that while your credit score is an important factor in determining whether or not you will be approved for...