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While i ve kept this card for years some folks decide to downgrade the card to the no annual fee chase sapphire instead of canceling it to avoid paying the preferred version s annual fee.

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But you will not get all the same benefits as the chase sapphire preferred. It s a watered down version of the chase sapphire preferred with no earning on. With no annual fee the card is structured for potential cardholders that may have more limited spending and may not be able to take advantage of the higher rewards the preferred and other other annual fee. The chase sapphire preferred annual fee of 95 is waived for military servicemembers.

This is thanks to the chase military lending act mla. Of course the main value in holding ultimate rewards points lies in the ability to transfer them but you can get that with a 95 annual fee chase sapphire preferred card. The no annual fee chase sapphire credit card is no longer open to new applications but you can request a product change to this card by calling chase. The card earns 2x on dining and 1x on all other purchases.

Card details for the no annual fee sapphire card. These perks are available with no annual fees. The 95 annual fee is waived for the first year.

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