With the summer months quickly approaching, credit card issuers are scrambling to create incentives on their travel reward credit cards. It’s no secret that a good bonus attract thousands of new cardholders, and Chase has decided to go after customers with this offer of 10,000 point bonus for new holders of the Chase Sapphire® Card, which is redeemable for $100 toward travel when you redeem through Chase Ultimate Rewards. You can earn these bonus miles after you make $500 in purchases within the first three months of card ownership. When you take a look at what other credit cards are offering, the $100 and additional perks is about as good as you’re going to find.
Chase is not including an introductory offer such as a 0% APR for a certain amount of months with the Chase Sapphire Card. The standard purchase and balance transfer rate is a variable 15.99% APR and the rate for cash advances is a variable 19.24% APR. If you default on your payments to Chase, the bank will penalize you with a variable rate of 29.99% APR. There is no annual fee. You’ll need excellent credit for Chase to approve your application.
The rewards program on the Chase Sapphire Card is fairly straightforward, offering points on two different types of purchases. Points never expire and there is no limit to the amount of points that you can earn each year. Here is the breakdown for the points:
- Two points for every dollar spent on dining at restaurants
- One point for every dollar spent on all other purchases
As a cardmember you will have access to a live representative to answer all customer service calls. I recently shared my experience dealing with Chase customer service related to a different card. No matter the time of call, a human being will always be available. One of the largest complaints customers have about credit cards is the inability for automated response systems to provide useful information, so this is not an issue with the Chase Sapphire Card.
When looking for an overall credit card, the important aspects for most customers include the interest rate, rewards program, annual fee and bonus offer. This card comes out on top in all four areas plus a big positive for customer service. If you’re looking at applying for the Chase Sapphire® Card and the $100 cash back bonus or would like to find more information about the card, visit the card’s secure application page.
Updated January 21, 2014 and originally published June 1, 2011. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.