Credit Card Answers
Direct, objective answers to complex credit card questions.
What credit score do you need for the Chase Sapphire Preferred?
You typically need a good to excellent credit score (670+) to be approved for the Chase Sapphire Preferred. A score of 720 or higher gives you the best odds of approval.
How is estimated annual value calculated for credit cards?
Estimated annual value subtracts the card's annual fee from the total expected value of its rewards and usable credits, based on a specific yearly spending scenario.
Does an annual fee reduce the overall value of a credit card?
Yes, an annual fee directly reduces your net return. However, if a card's premium reward multipliers and statement credits exceed the fee, it can still produce a higher net value than a no-fee card.
How do credit card reward spend caps work?
Reward caps limit the amount of money you can spend at a high multiplier rate within a specific timeframe, usually a quarter or a year. Once exceeded, your earning rate drops to a baseline 1%.