The Chase Sapphire credit card has its advantages, though it comes at a price.
The Chase Sapphire has no introductory APR, or annual percentage rate. The APR does come at a low 15.4%, which you should know is a low APR when you see other credit card APRs, and the APR is also variable – so remember that at some time in the future, this low APR is going to change.
But aside from the Chase Sapphire having no APR just for new accounts, you shouldn’t have any problems at all using the card.
If you are responsible in your spending and always pay the full payment monthly, even a high APR should not be a problem for you.
And that is the bad news – the good news comes next.
First 3 Months of Your Chase Sapphire Credit Card
First of all, Chase Sapphire wants you to use the card immediately. It has a 90 day promo where, if you use the card for transactions worth more than USD 3,000, you receive 25,000 points in return, or the equivalent of USD 250.
Make sure you are going to reach the mark if you are going to go for it – it is a simple matter of planning and budgeting.
But if you are on the fence with regards to spending USD 1,000 a month for the first 3 months of your Chase Sapphire, best not to go for it.
You are getting only USD 250 in return for USD 3,000 worth of purchases, which is a big sum, but not worth getting into credit card debt over in the first place. But if USD 3,000 is well within your 3 month expenses, go for it. No sense in wasting the points.
One to 10 points for Every Purchase
Using the card for dining, traveling and your hotel stays earns you two points on the dollar if you make the transaction through Ultimate Rewards.
Through the Ultimate Rewards Mall, you can shop online at over 300 stores where you can earn up to 10 points per dollar spent. The points never expire, so the points just add up until you wish to redeem the points for most of your travel needs, or even for a rewards with a 2,000 point minimum.
The card also has no travel restrictions or dates where you can’t use the card. The card has an online Travel Booking Tool which you may find useful for making travel arrangements. The tool also doubles the points you earn if you purchase your airline tickets through ordinary channels.
Built-in Travel Insurance
The Chase Sapphire credit card was made with the traveler in mind. The card has an Auto Rental Collision Damage Waiver, so damages to a rented car in your travel should not unnecessarily worry you.
The card also assures you of ready medical or legal aid, should you need it while on the road. You are also insured against delays while traveling, cancellations, and even your luggage issues like being lost or delayed are part of the insurance package.
Most importantly, you are protected from identity theft with Chase Sapphire. You will not be held accountable for purchases made without your consent, and this is aside from the card’s protection in the warranty, purchase and return of a product.
As an aside, if your yearly expenses with a credit card amount to more than USD 130,000, you might want to think about Chase Sapphire Preferred for more benefits and advantages of using the card.
Lastly let me remind readers that the best way to handle any credit card is by paying off debt in full every month if you have to pay interest on the remaining balance otherwise.
Although the bonus point offer is time-limited, the best way to earn that is to apply for Chase Sapphire card just before making a big purchase or family travel. Watch out for that annual fee though, it’s due from second year onward.
Based on the travel reward and that up front $250 reward offer, makes Chase Sapphire card get “Apply” rating from us.
If you use the card, do share your thoughts with us here.
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