The Chase Sapphire(SM) Card is a new rewards credit card that is offering 10,000 bonus points after you spend $500 in the first 3 months, which can be redeemed for $100 cash. No annual fee.
As a rewards card, it offers 2 points per dollar on dining and 1 point for every dollar in purchases (100 points = $1, or the usual 1% back). The nice part is that redemptions are easy – you can even redeem in $1 increments as long as above $25, so you could cash out $27 or $113 without anything left over. There are no earning caps, or points expiration dates.
In addition, you can get double points on airfare booked through their Ultimate Rewards website. It also promotes a “premium, dedicated service line that gives you access to a live person anytime, 24/7.” Fine print:
10,000 bonus points
You will qualify for and receive your bonus after you make $500 in purchases within the first three months of card ownership. Purchases includes balance transfers, or any checks that are used to access your account, and excludes cash advances. After qualifying, please allow 6 to 8 weeks for bonus points to post to your account. This one-time bonus offer is valid only for first-time cardmembers with new accounts.
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Looks like a good card to get just for the sign up bonus.
Jonathan, what savings accounts are you using now a days? I’ve stuck with dollarsavingsdirect for a while now. It doesn’t look like there are that many savings accounts with significantly higher interest rates.
Wish I had caught this offer when it was originally 25,000 points via Slickdeals for the Sapphire card.
IS the Chase Sapphire Card a Visa or MasterCard credit card? Also, please note: this credit card is a NPSL= no pre-set spending limit, which means no over-the-limit-fees. It also means that Chase will not report your credit limit to the 3 credit bureaus; instead, they will only report the highest balance you charge as the available balance.
Well, I tried it a few weeks ago, and they rejected me since I have 3 credit cards with them (before one was with WaMu) for total ~$15k, but I don’t carry over any balances…
Is booking a flight through the ultimate rewards site actually a reasonable thing to do? Most of the time things like that are a complete rip off.
The $100 sign up bonus seems to be the only real benefit to getting this card. Otherwise, the Freedom cards seem like Chase’s best…. actually my AAA Chase card is good for 5% on gas and 2% on insurance payments, so that’s a pretty good one as well.
I’ve never used the Ultimate Rewards system, but you’re probably right in that it won’t be a better deal than using Kayak or something. The $100 bonus is the main draw.
I applied for the Chase Freedom card a few weeks ago and got rejected. Their reason is I had applied for too many cards or something, which is not true. I guess I shouldn’t even bother applying for the saphire card.
Well, I just discovered that Chase switched my Freedom card to this. Clearly a downgrade, IMO, since I was making 3% back on most of my purchases with the Freedom card, and now I’ll be making just 1% back. Luckily I’ve got another Freedom card that I haven’t been using for the past year or so, so I guess I’ll replace the sapphire card in my wallet with that one.
I don’t have the option to get cash out in $1 increments either. I’m limited to $50, $75, $100, etc. Sucks because I have about $48 in points so it looks like I’ll have to use the card a little more to get to $50.
Nevermind about the $1 increments thing. I just found it on the Ultimate Rewards website, under the “Shopping” menu -> “Pay Yourself Back”.
I spoke to the personal banker at Chase about this card, and he told me that to qualify for this card you need to have a credit score of over 700.