Update: Chase Sapphire is now earning you 2 points for every dollar spent on dining whether fast food or fine dining. One point per dollar is earned in any other category.
Are you looking for a card that adds flexibility to the rewards program by offering the option to redeem points on just about anything— airfare, hotel rooms, shopping and simple cash back? If yes, then Chase Sapphire Card is the one for you.
The Chase Sapphire Card is brought to you by JP Morgan Chase, a well known name in the banking industry.
The Chase Sapphire card starts you out with 10,000 bonus points and carries no annual fee. This is the equivalent of $100 cash back. You can think of each point as being worth one penny cash back. You can redeem your bonus points for travel, gift cards, merchandise, cash back and more. There are no limits on your bonus points and the best part is that there is no expiration date for your bonus points. Each dollar spent yields one Ultimate Rewards point. You can get double points on travel bookings made with the in-house travel booking tool.
You need excellent credit to apply for this card. You can apply online or contact JP Morgan Chase by phone. The standard APR and the balance transfer rate is 15.24%. Unfortunately this card does not have a lower introductory APR offer. The card offers a 20 day grace period. The cash advance APR is 19.24% and the default APR is a hefty 29.99%.
It comes with a host of insurance features – travel insurance, rental car insurance and lost luggage reimbursement. One of my personal favorite features of this card is it’s account management center which lets you track your spending, monitor your balance and view your transaction history. The card also comes with a 24 hour toll free customer care number and online banking.
The card has a zero liability fraud protection. If you loose or damage your Chase Sapphire Card, all you need to do is report it to Chase and you will receive an emergency replacement. Chase will arrange for emergency cash until your card arrives. It has a balance transfer feature which allows you to transfer balances from cards with higher APRs.
While the Chase Sapphire Card does not have an annual fee, it does charge a late fee and an over limit fee of $15 – $39. If you make an international purchase using your Chase Sapphire Card, you will be charged a fee of 3% of the purchase amount. There is a cash advance fee of 3% or $10; whichever is greater.
The superior rewards flexibility and appealing signup incentives along with the low APR make it a very appealing card for those searching for a rewarding rewards card.