• Advanced,  Credit Cards,  Miles and Points,  Travel Rewards

    Should You Pay the Annual Fee for the Chase Sapphire Preferred?

    Chase Sapphire Preferred (CSP) provides a number of additional benefits that the Chase Freedom card doesn’t offer. However, those extras come at a cost. After being waived the first year, the annual fee of $95 will kick in. Is it worth paying? I’ll walk you through the extra benefits and do the math for you with a calculator at the end of this article. The premise behind this exercise is that you are deciding whether to keep your CSP and pay the annual fee or downgrade it to a Freedom card to save the $95 (or simply cancel if you already have a Freedom). To make this determination, my calculator requires only 4 variables:…