Chase Sapphire Preferred Card
The Chase Sapphire Preferred credit card is another exclusive credit card, but comes in a different color then the rest of the exclusive, "Black," cards. This card offers some of the best benefits and perks that other exclusive credit cards just can't offer. The Sapphire Preferred credit card is a step-up from the regular Chase Sapphire Credit Card that Chase bank also offers. There is a annual fee of only $95, which isn’t that much when compared to all the benefits that cardholders receive.
When cardholders first sign-up for the Sapphire Preferred credit card, they will receive an immediate 40,000 bonus points. This is by far one of the best sign-up bonuses in the market today. In order to receive the 40,000 bonus points, cardholders must spend at least $3,000 within the first 3 months of card ownership.
Chase has partnered with some of the best travel rewards programs that allow 1:1 point transfer, which means 1,000 Ultimate Rewards points equal 1,000 partner miles or points. Some of the participating rewards programs include United MileagePlus, British Airways Executive Club, the Ritz-Carlton Rewards, Marriott Rewards, and many others. Having the ability to transfer your points to these partner rewards programs make your points far more valuable.
The Chase Sapphire Preferred Card allows you to earn bonus points in multiple ways. For every dollar spent, cardholders can receive two points on travel, two points on dining, and one point on all other purchases. Providing multiple ways to earn bonus points makes it easy for your rewards to quickly accumulate.
If you travel internationally on a regular basis or if you have a big vacation on the horizon, you want to ensure the credit card you are using will not charge you foreign transaction fees. Similar credit cards will charge as much as 3% per foreign currency transaction. The Chase Sapphire Preferred Card does not charge foreign currency transaction fees, so you will be able to travel without worrying about unanticipated fees.
At the end of each year, Chase Sapphire Preferred customers will receive a 7 percent Annual Points Dividend on all new points earned on purchases, even on points already redeemed. Unlike many rewards credit cards that require you to meet certain spending criteria in order to be eligible for a bonus, all Chase Sapphire Preferred® cardholders are eligible for this bonus.
Sapphire Preferred members also have access to 24/7 Direct Access to Expert Service Advisors. Need assistance for traveling or purchases? Well, if you’re a member then you can contact an advisor at any time.
All members will receive purchase protection, extended protection, price protection, and return protection.
Purchase Protection: Replaces, repairs or reimburses you for eligible items of personal property within ninety (90) days of the date of purchase.
Extended Protection: Doubles the free repair period under the original manufacturer's U.S. warranty up to 1 additional year on eligible warranties of 3 years or less.
Price Protection: Receive a refund of the difference between the price you paid for an eligible item on the card and a subsequent covered lower advertised price for the same item within the first 90 days of purchase.
Return Protection: If a retailer will not accept a return within the first 90 days of purchase, you can be reimbursed for the cost of an eligible item purchased on your card.
To qualify for the Sapphire Preferred; applicants must have at least a 700 credit score with no major credit blemishes and an annual income of at least $120,000. This card does not have a spending limit, so Chase is much more stringent on who they accept. Applicants can complete an application online to determine if they are eligible. There is no exclusive offers in the mail that applicants must have in order to apply. The application process is very short and takes your income, credit history, and housing status to determine if you meet the requirements for the Sapphire Preferred credit card.
The standard APR for the Sapphire Preferred is currently 15.24 percent variable. As long as you pay your card off monthly then you will be able to take advantage of the credit points system without having to pay any interest fees or other charges.