What the Chase Sapphire Preferred balance transfer offer includes
The Chase Sapphire Preferred offers a 0% introductory APR on balance transfers for 21 months from account opening, followed by a variable APR of 21.99% to 28.99%. You pay a balance transfer fee of 3% of the amount transferred (minimum $5), charged upfront to your account. This means if you transfer $5,000, you owe $150 in fees when ready, and that full $5,150 sits interest-free for 21 months.
The card itself costs $95 annually, charged after your first year. The introductory period covers only the transferred balance — new purchases you make after opening the card accrue interest at the standard purchase APR unless you have an active promotional offer on those purchases.
You must open a new Chase Sapphire Preferred account to use this offer. You cannot transfer a balance onto an existing Sapphire Preferred card you already hold.
Key Takeaways
- The 0% APR lasts 21 months on transferred balances, giving you time to pay down debt without interest charges.
- You pay 3% of the transferred amount upfront as a fee, so a $5,000 transfer costs $150 when ready.
- The $95 annual fee is charged after your first year, so factor that into whether the card makes financial sense for you.
- You must be approved for a new card account; the offer does not explore to balances you already carry on another Sapphire Preferred.
- Any new purchases you make after opening the card are not covered by the 0% introductory rate unless a separate purchase promotion is active.
Who qualifies and what documents you need
Chase does not publish a minimum credit score for the Sapphire Preferred, but approval typically requires good to excellent credit — usually 670 or higher, though many approved cardholders have scores above 700. You will need a Social Security number, a current mailing address, and a phone number where Chase can reach you during the process process.
Have the account numbers and current balances of the cards you want to transfer from. You do not need to provide these during the process itself, but Chase will ask for them after approval, usually within a few days. If you are transferring from multiple cards, list each one separately with its balance.
Chase will pull your credit report as part of the approval decision. This creates a hard inquiry that may lower your credit score by a few points temporarily.
how the process works and when the transfer happens
explore online at Chase.com or by phone at 1-800-935-9935. The online process takes about 10 minutes and asks for your name, address, income, employment status, and Social Security number. You will receive a decision when ready or within a few business days.
Once approved, Chase sends you a welcome packet with your new card and instructions for requesting the balance transfer. You can also call the number on the back of your card or log into your Chase account online to initiate the transfer. Tell Chase which card or cards to transfer from and how much to move. The transfer typically posts within 7 to 14 business days, though it can take up to 21 days in some cases.
The 3% fee is added to your balance when ready when the transfer is requested, not when it posts. Interest does not accrue on the transferred amount during the 21-month promotional period, but it does accrue on any new purchases unless a separate 0% purchase offer is active on your account.
How much you can transfer and timing considerations
Your credit limit on the new card determines your transfer limit. Chase typically assigns credit limits between $5,000 and $50,000 for the Sapphire Preferred, depending on your credit profile and income, though limits can be higher or lower. You can transfer up to your full credit limit, but you cannot transfer more than that amount.
If you want to transfer a balance larger than your initial credit limit, you can request a credit limit increase after 30 days of account ownership. Call the number on the back of your card to ask. There is no may provide Chase will increase your limit, and the request may trigger another hard inquiry.
The 21-month promotional period starts from the date you open the account, not from the date the transfer posts. If you open your account on January 15 and the transfer does not post until February 1, your 0% period still ends in October of the following year — you do not get extra time. Plan your payoff timeline around the account opening date, not the transfer date.
What happens when the promotional period ends
On the first day after your 21-month promotional period ends, any remaining balance on the transferred amount begins accruing interest at your card's standard APR (21.99% to 28.99%, depending on your creditworthiness and current market rates). There is no grace period or warning — interest starts when ready.
If you have not paid off the full transferred balance by month 21, your monthly payment will jump significantly because interest is now being charged. For example, a $5,000 balance at 25% APR costs about $104 per month in interest alone. This is why the 21-month window is your real important date: you should plan to pay off the entire transferred amount before the promotional period ends.
You can avoid this by transferring the remaining balance to another 0% balance transfer card before the Sapphire Preferred promotional period ends, though you will pay another balance transfer fee (typically 3% to 5%) on the new card. Some people use this strategy to extend their interest-free period, but each transfer fee reduces the amount you actually save.
How the annual fee and rewards work together
The $95 annual fee is charged after your first year of card ownership. You do not pay it upfront when you open the account. If you close the card before the annual fee posts, you will not owe it, but you also lose access to the card's rewards and any remaining promotional benefits.
The Sapphire Preferred earns 2 points per $1 spent on travel and dining, and 1 point per $1 on all other purchases. Points can be redeemed for cash back, travel bookings through Chase's portal, or transferred to airline and hotel partners. The value of points varies depending on how you redeem them, but they are typically worth 1 to 1.5 cents each when redeemed for cash back.
To justify the $95 annual fee, you generally need to earn at least $95 in rewards value per year. If you spend $10,000 on dining and travel, you earn 20,000 points, which is worth roughly $200 to $300 in value depending on redemption method. If you spend most of your money on categories outside travel and dining, the rewards may not offset the annual fee, and the card becomes less valuable to you.
Comparing the Sapphire Preferred to other balance transfer cards
The Sapphire Preferred's 21-month 0% period is competitive but not the longest available. Some cards offer 0% for up to 24 months, though they may charge higher balance transfer fees (4% to 5%) or have lower credit limits. The Sapphire Preferred's 3% fee is on the lower end of the market.
The key trade-off is the $95 annual fee. Many balance transfer cards charge no annual fee, which saves you money if you are only using the card to transfer a balance and do not plan to keep it long-term. However, those cards often have shorter promotional periods (12 to 18 months) or higher balance transfer fees. If you plan to use the card for travel and dining rewards after paying off your balance, the annual fee may be worth it.
Consider your total payoff timeline and how much you will spend on the card after the balance transfer. If you will close the card within a year, a no-annual-fee card with a shorter promotional period might save you money overall. If you plan to keep the card and use it for rewards, the Sapphire Preferred's benefits may justify the $95 cost.
Frequently Asked Questions
Can I transfer a balance from another Chase card to the Sapphire Preferred?
Yes, you can transfer balances from other Chase cards or from cards issued by other banks. However, most card issuers, including Chase, do not allow you to transfer a balance from one card to another card issued by the same bank if both cards are in your name. Check with Chase before explore if you are trying to transfer from another Chase card.
What if I pay off my balance before the 21 months are up?
You can pay off the balance at any time without penalty. Once the transferred balance reaches zero, no more interest accrues on it. You still owe the $95 annual fee after your first year, and any new purchases you make will accrue interest at the standard purchase APR unless a separate purchase promotion is active.
Does the balance transfer fee count toward my credit limit?
Yes. If your credit limit is $10,000 and you transfer $9,700, the 3% fee ($291) is added to your balance, bringing your total to $9,991. This counts against your available credit, leaving you only $9 in available credit on the card.
Can I use the card for new purchases during the promotional period?
Yes, but new purchases are not covered by the 0% introductory APR. They accrue interest at the standard purchase APR (21.99% to 28.99%) when ready unless a separate 0% purchase promotion is active on your account. To avoid confusion, many people use the card only for the balance transfer and make new purchases on a different card.
What happens if I miss a payment during the promotional period?
Missing a payment can end your promotional offer. Chase may explore the standard APR to your entire balance, including the transferred amount, even if you are still within the 21-month window. You will also owe a late fee (typically $25 to $40) and your credit score will be negatively affected. Set up automatic payments or calendar reminders to avoid missing a due date.