If you are looking for a credit card the search can be complicated. There are many different types of credit cards and finding which one meets your needs takes time and research. Whether you have bad credit, no credit or excellent credit the credit card search is the same; it involves research, understanding your needs, and knowing what maintaining good credit means.
If you have good to excellent credit the Chase Sapphire Preferred Credit Card is an excellent option to consider applying for. This card is ideal for those already with established excellent credit as they offer incentives for those who add an authorized user and travel frequently.
What is Chase Sapphire?
This is an unsecured credit card that is very beneficial if you travel a lot because they offer many opportunities to earn a lot of points that convert into travel bookings, cash, or gift cards. Here are some of the benefits:
- Travel benefits
- Earn 1.25 cents per point when you book your travel through Chase’s travel portal
- Deferred interest promotion
Why Choose Chase Sapphire?
Even if you do not travel frequently, this card has a lot of benefits for those who eat out as well. Every time you go to a restaurant you receive two times the points for using your card. There are also flexible travel options on what your points count for. Chase grants points for Uber rides, tolls, parking at airports and other things. Even if you are using your card for more everyday-like travel means the points still count. You can also transfer points to other participating hotels and airlines, even if you do not book through Chase. If you do book through Chase you can save 20% on your booking.
Sign On Bonus
This card offers an amazing sign on bonus when you are approved. It also gives high rewards for eating out and travel and little restrictions on how you can use your points. When you spend $4,000 within the first three months of having the card you get 50,000 points or 645 travel dollars. If you plan on using this card frequently this can save you a lot of money on travel. Because of all of the rewards excellent credit is a must. You want to make sure that you do not have too many credit accounts open and that your credit is flawless. Their process is selective.
What Should I Look Out For When Using This Card?
It is a must to carry out detailed research on the different credit cards from diverse banking institutions. One of the trending credit cards in the market is the Chase Sapphire Credit Card which offers unique benefits to the cardholders. You might think like do the benefits or rewards on this card expire and the annual fees for availing the services of the card. The credit card comes with a bundle of features and benefits that have left the cardholders in awe. Some of the features that stand out from the rest of the providers are as follows:
- An expenditure of $4,000 comes with a bonus of 50,000 points and a waiver on the annual fee for the first year which is $95.
- The card provides surprising benefits on dining and travel expenditures.
- An inbuilt EMV chip fortifies the card against any unethical intrusion attempts and increases in the global acceptance rate.
So do the benefits or rewards on this card expire? No, they do not unless you have stopped paying the annual fees associated with the card.
Good Credit is Important
If you are set on applying for this card it is not impossible to get approved but make sure you have a high chance of approval with a good credit score. Even if you want to apply for this card but do not have perfect credit, the best thing to do is work on raising your score before you apply. Have maybe one other open credit card but not too many, and work on building your score using the credit accounts you have open. For example, work on using your credit card for small monthly purchases and then pay the balance off in full each month. In addition, always have the majority of your credit line available for use, and make a habit of paying all bills on time. You want to approach the Chase Sapphire application with your best credit score that may take work if you have low credit but it is not impossible. The annual fee is something to keep in mind because after the first year it is $95 a year.
Overall, this card offers amazing benefits and opportunities to save a lot on flights and travel plans. The introductory promotional offer with deferred APR can also help you launch your vacation savings by allowing you to charge without having to worry about interest. The Chase Sapphire Preferred Card is a great option to apply for now or work towards applying for. Essentially with this card, you can get up to two travel miles for each dollar you spend. In addition, it offers no APR for the first twelve months. If you are planning a vacation you could use your card to finance it and enjoy no interest for the first twelve months and receive all of the rewards for using your card. For example, if you have the money saved for your vacation, use your credit card to pay for the vacation, and then pay off the bill at the end of the billing cycle with all of the money you had saved. That way you get the benefits of using your card and do not have to pay interest. In addition, there are no foreign transaction fees, which means that you can go out of the United States and use your card without having to pay extra. Your miles also do not expire. This gives you time to use your card and earn miles and then redeem them at a time that is most convenient for you. The APR has three rates 16.99%, 20.99%, and 23.99%.
Insurance for charges levied for Trip Cancellation/Trip Interruption
Any unforeseen situations can become the cause for the cancellation or delay of your long-planned holidays which is followed by high cancellations charges. But the feature of Chase Sapphire Credit Card comes to your rescue with its automatic insurance feature for flight tickets as well as hotels. The insurance reimburses amounts up to $10,000 for a trip. The feature can be availed by the cardholder and the immediate family member only when the transactions were done using the Sapphire Credit card.
Insurance For Luggage
If the delays in the handover of luggage extend beyond six hours, then the cardholder is eligible for a reimbursement of $100 per day for a maximum period of 5 days. The amount can be used for the essentials such as toiletries and clothing. For luggage that is misplaced and cannot be recovered, the cardholder gets compensation of $3000, though it requires original receipt of the contents of the suitcases misplaced and often the full amount of $3,000 is not reimbursed by the firm.
Compensation For Trip Delays
Last moment delay is the most annoying and saddening moments for a traveler. Factors like weather and mismanagement can lead to such scenarios. Even though airlines arrange for accommodations in a moderate hotel, the traveler ends up spending money that is not covered by the airlines. Chase Sapphire credit card comes to the rescue for cases where the delays extend to 12 hours and beyond. The traveler can claim up to $500 per ticket for expenditures incurred directly from his or her pocket.
Insurance for Personal Property
The feature provides coverage of up to $500 for personal properties acquired using the Sapphire Preferred Card in case of theft, involuntary damage or loss. The claim can be made up to 120 days from the date of purchase. This is a common feature of most of the credit card from different financial firms. Some of the items which do not fall in the list of eligible items are antiques, animals and perishable items.
Coverage For Items With Extended Manufacturer Warranty
This feature provides coverage on eligible properties for one extra year only if the manufacturer warranty of that products extends up to 3 years. Some excluded items in this list include aircraft, yachts, medical devices, etc. A cardholder can claim up to $10,000 for eligible items. The users of Sapphire Preferred Credit Card have given positive feedback regarding how they have saved thousands of dollars by utilizing the features that come along with the special card. The Claim processes are swifter when proper documents and receipts are submitted in the correct order.