Disclosure: We get a commission for links on the blog. You don’t have to use our links, but we’re very grateful when you do. American Express, Barclaycard, Capital One, Chase, Citibank and US Bank are Million Mile Secrets advertising partners. Opinions expressed here are the author's alone, and have not been reviewed, approved or endorsed by our partners. Here’s our Advertiser Disclosure.
According to Wandering Aramean, Chase is doing market research on higher annual fees for the Chase Sapphire Preferred card. The fees being tested are $125 and $149. That is is a big increase from the current $95 annual fee!
The application page looks the same, except for a different annual fee and phone number. The annual fee you get could be $95, $125, or $149. So be careful if you apply for this card directly through Chase!
If you apply through my link, you will still get the $95 fee. For now at least.
Chase Sapphire Preferred
Link: Chase Sapphire Preferred
The Chase Sapphire Preferred gives you:
- 40,000 Chase Ultimate Rewards points when you spend $4,000 within 3 months
- 5,000 Chase Ultimate Rewards points when you make your first purchase and add an authorized user within 3 months
- 2X points on travel and dining
- Annual Fee waived the 1st year, then $95 (for now)
- NO foreign transaction fees
I like the Chase Sapphire Preferred card because you can transfer the points you earn to airline and hotel partners at a 1:1 ratio. We’ve taken some great trips – to Paris, India & Macau – because of these transfers such
You can also redeem your points for gift cards at 1 cent per point. So the 40,000 point bonus is worth $400 in gift cards. And you get an extra 5,000 points for adding an authorized user.
But I prefer to transfer Chase Ultimate Rewards points to airlines and hotels because I can get much more than $400 worth of travel from the points. This is 1 of the main ways Emily and I can have Big Travel with Small Money!
Chase is testing out higher annual fees of $125 and $149! So if you plan on applying for the Chase Sapphire Preferred card, you may want to apply now to avoid paying a higher annual fee later.
That said, remember that the annual fee is waived for 1st year.