I've been researching credit cards for awhile now and I have been wanting one that would suit all of my needs. Specifically I wanted one with rewards but the Chase Freedom quarterly rotating 5% cash back categories just didn't do it for me. I wanted frequent flyer points but didn't think the Southwest or Capital 1 cards were for me. I have a Citibank Thank You card (and it's my only card) but the rewards I earn are pitiful. I checked out so many other cards such as the rest of the Citi line-up and American Express. None of the cards were worthy enough for me...or I was just looking for the perfect card.
I remember reading up about the Chase Sapphire Preferred card but I didn't look into it too much after learning that it had a $95 annual fee. After doing more research on it, I found that it had everything I wanted. You get 2 miles per $1 for all dining/travel purchases, 1 mile per $1 everything else, and 10 miles if you book travel through Ultimate Rewards. Also if you shop through the online retailers through their portal then you get more points. I love banking with Chase (as long as I meet the requirements for no fees) and their customer service so that also played a large part in my decision. I get 50,000 points after $3k purchase in 3 months which can be redeemed 1:1 and Chase travel partners such as Hyatt, Marriott's, Continental, British Airways, etc. I can't wait to redeem them this way!!!
I was instantly approved for $5k and I was bummed since I was hoping for $10k. I don't even like keeping a balance more than $1,000 but I like having higher credit limits and I personally thought my credit score close to 800 was pretty good. Anyway this card will be my primary card since I really like the rewards system and the interest is lower than my Citi card. I forgot to mention that the amount I get to redeem my points at outweighs the annual fee based on the amount I spend. This card also pays out 7% dividend of your total bonus points, there are no foreign transaction fees and the extra travel insurance and trip cancellation perks are a plus. This card meets all the requirements I had on my list. Note: They have a regular Chase Sapphire card without the annual fee but I really wanted a card for free foreign transactions so I went with the preferred/annual fee route.
I've never been excited for a credit card before...what a nerd! I don't know what I'm going to use it for besides daily expenses so the $3k in the first 3 months will be tough for me to hit. Maybe I should start Christmas shopping for my family and then buy the iPad I was planning to buy. Obviously I can't just spend $3k to get the bonus points. My back-up plan is to pay for something my mom needs on my card and have her pay me in cash so I can rack up the points. I should have gotten this card before I paid for my LSAT classes and stuff!
Are there any Chase Sapphire Preferred members reading this? I'd love to hear your thoughts on the card:)