10.10.2011

Something Sapphire (and Preferred)


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:)

5 comments:

Counting all my stars and saving it said...Best Blogger Tips[Reply to comment]Best Blogger Templates

I personally love Chase I have been their customer since they were Wamu. A lot of people bash on them but luckily enough I have not had any negative activities. As of right now I am a Chase freedom card holder and so far so good. I will look into the Sapphire sounds like it would benefit me as well. Thank you for sharing! :)

Katherine said...Best Blogger Tips[Reply to comment]Best Blogger Templates

I just got a Chase card (United) and so far am loving it - the Sapphire looks like a great card!

My money, my life said...Best Blogger Tips[Reply to comment]Best Blogger Templates

hey lady, I just emailed your gmail with the LSAT info. Sorry that it took a while, it's been a while since I looked at it and I had to hunt it down :)

Rafiki said...Best Blogger Tips[Reply to comment]Best Blogger Templates

That's awesome. For the longest while I've been trying to get a rewards card for myself but the banks tell me I haven't been working long enough so I have to wait. Our system is so much different than your own.

Anyways I can hardly wait to get my first credit card as I can't wait for the rewards but at this point I would even settle for a non rewards card as it would really help with tracking.

Anyways, those are some killer rewards you got and for the three month plan I think you should go the route of paying for stuff for people and taking the cash. Not only from your mom but for anyone who is cool with it. It would help you reach the 3k mark much faster.

Enjoy it and use it responsibly.

Kat Tanita said...Best Blogger Tips[Reply to comment]Best Blogger Templates

Your comment made my day!! I LOVE your blog! So many helpful tips :) Have a great weekend!


XO
Kat
www.withlovefromkat.com

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