Which Chase Credit Card Should You Apply For?

Decide which Chase Visa is best for your spending style.

Chase credit cards are often some of the most competitive cards in terms of the value of rewards offered. In particular, the Chase Sapphire Preferred, Chase Freedom and Chase Sapphire Reserve offer plenty of value to the users. And For those who already bank with Chase, getting your credit card through the same company can offer some major conveniences

If you are confident you’re going to pay your balance every month in full, a Chase Visa card can give you a chance to earn rewards or cash back on purchases you would be making anyway. So, if you want to apply for a Chase credit card, take a look at these three Chase credit cards — though there are even more to choose from —  and consider whether these cards are right for you.

Chase Credit Cards
Credit CardBest ForAPR
Chase Sapphire PreferredTravel rewards with annual fee waived in first year17.74% to 24.74% variable APR
Chase FreedomCash back16.74% to 25.49% variable APR
Chase Sapphire ReserveTravel rewards17.74% to 24.74% variable APR
Information accurate as of Sept. 6, 2018.

Chase Sapphire Preferred

With the Chase Sapphire Preferred card, benefits include:

  • 50,000 bonus points if you spend $4,000 or more in the first three months
  • Double points for travel and dining
  • 25 percent more value when points are redeemed through Chase Ultimate Rewards

Chase travel rewards cards are generally considered to be at or near the top of the heap. Through the Chase Sapphire options, Chase credit cards offer extra points on travel and dining. However, the 50,000 bonus points you can pick up by charging $4,000 or more in the first three months of having the card really makes it stand out.

You’ll also get an additional 25 percent in value if you choose to redeem the rewards points from your Chase Bank credit card through Chase Ultimate Rewards — those 50,000 bonus points can be worth $625 when redeemed for travel.

There are caveats, though, including a $95 annual fee that kicks in the second year. However, given that points are worth 1 cent apiece when redeemed for cash (or 1 1/4 cents on Chase Ultimate Rewards), you’ll at least break even on that fee in cash provided you’re getting at least 9,500 rewards points a year and paying your balance in full each month.

Chase Sapphire Reserve

The Chase Sapphire Reserve card offers the following features:

  • 50,000 bonus points if you spend $4,000 or more in the first three months
  • Triple points on travel and dining
  • 50 percent more value when points are redeemed through Chase Ultimate Rewards

The Chase Sapphire Reserve is similar to its Preferred counterpart — offering Chase rewards that are especially good for frequent travelers — except that the stakes are higher. The annual fee rises to $450 a year, but you’ll get triple points on travel and dining as opposed to just double from the Preferred card. Essentially, you’ll need to use the card and travel significantly more to get the most value possible.

The card also offers an annual travel credit of $300 a year, meaning the annual fee effectively becomes $150, and you would only need to get 15,000 points to earn that money back. That’s enough to make plenty of globetrotters reach for a Chase credit card application.

Choose the Banking Option That Works for You: Chase Checking Account Review

Chase Freedom

The Chase Freedom credit card offers:

  • $150 bonus if you spend $500 or more in the first three months
  • 0% introductory APR on balance transfers and purchases for the first 15 months
  • 1 percent cash back on all purchases with up to 5 percent for quarterly bonus categories

Although the Chase Sapphire credit card rewards are ideal for people who travel and eat out a lot, the Chase Freedom card offers a much simpler proposition: 1 percent cash back on all purchases. You also get as much as 5 percent across rotating categories that change each quarter, but only on the first $1,500 in purchases.

Chase Freedom has the added utility of being a good balance-transfer card. If you have existing credit card debt, you can move it onto your Chase Freedom card and forgo interest payments for a year and three months. You will pay a balance transfer fee of 5 percent or $5, whichever is greater, but avoiding costly compound interest for 15 months should more than make up for that. And, even if you don’t have an existing balance, you will get an introductory 0% APR on purchases in the first 15 months. This allows you to avoid interest rates and — as long as you’re 100 percent sure you can clear the balance before interest kicks in — potentially use the card like an interest-free personal loan for that period.

Also See: What Is Chase QuickPay With Zelle?

Which Chase Credit Card Is Right for You?

Choose the Chase credit card that fits your needs in terms of rewards, APR, annual fees and more. Decide which factors are most important to you and evaluate the different offerings so you can pick the card that will allow you to maximize your rewards while saving the most money on fees and interest. Keep in mind there are other Chase credit cards available so do your research to choose the best one for you.

More on Credit Cards

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