 TITLE: What Is a Penalty APR? CONTENT: ### Chase Sapphire Preferred® Card\nChase Sapphire Preferred® Card\n------------------------------\nApply\non Chase's website\n**Recommended FICO® Score\\***\nGood - Exceptional\nChase Sapphire Preferred® Card\n------------------------------\nAPR\n15.99% - 22.99% Variable\nRewards\n2X points on Travel\n1X points on All Other Purchases\n**Intro Bonus**\nOur best offer ever! Earn 100,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,250 when you redeem through Chase Ultimate Rewards®.\n##### Card Details\n*   Our best offer ever! Earn 100,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,250 when you redeem through Chase Ultimate Rewards®.\n*   Enjoy new benefits such as a $50 annual Ultimate Rewards Hotel Credit, 5X points on travel purchased through Chase Ultimate Rewards®, 3X points on dining and 2X points on all other travel purchases, plus more.\n*   Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 100,000 points are worth $1,250 toward travel.\n*   With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.\n*   Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash's subscription service. Activate by 12\/31\/21.\n*   Count on Trip Cancellation\/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.\n*   Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12\/31\/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.\nThe Chase Sapphire Preferred® Card is a travel rewards card that hits all the right marks for moderate travelers. It offers a big intro bonus, extra rewards on dining and travel purchases, a variety of redemption options and no foreign transaction fees. However, there is a $95 annual fee.\nShould Finding a Card Without a Penalty APR Be a Priority?\n----------------------------------------------------------\nWhile there are credit cards with and without penalty APRs, you should generally focus on other features, fees and benefits when trying to pick a new card. A penalty APR can lead to more interest expenses, but only if you don't make a minimum payment.\nA penalty APR should also be a low concern relative to the other consequences of missing a credit card payment. Credit card late fees, for example, can cost $20 to $40 and likely outweigh your additional interest charges due to a penalty APR. And if you're worried about being consistently late on your payments, keep in mind that being over 30 days late could result in the card issuer reporting a late payment to the credit bureaus, which will hurt your credit.\nA card that doesn't have an annual fee or has a low standard APR might save you money, making it easier to afford your payments. Even if a card does charge a penalty APR, making all your payments on time will prevent it from affecting you. If you want to compare cards' terms quickly and get matched with cards, you can use Experian CreditMatchTM to review the current offers. END