New cardholders can earn up to 40,000 bonus points, plus 2x points for every dollar spent on dining at restaurants and travel.
Review of Chase Sapphire Preferred credit card
If dumping your no-rewards credit card was on your list of 2013 to-dos, there’s no time like the present. Rewards of every kind are being offered for savvy consumers, and if travel is your bailiwick, consider the Chase Sapphire Preferred credit card as one option.
Right now, new cardholders can earn 40,000 points after spending $3,000 in the first three months of opening the account. Balance transfers aren’t eligible for this bonus offer. Standard rewards tiers include two points for each dollar you spend on travel, such as flights and hotel nights; two points for each dollar spent on dining at restaurants; one point for each dollar spent on all your other purchases.
Also, you can get a 7-percent annual points dividend on all points earned on purchases in the previous year. There are no limits to the number of points that can be earned. The card does come with a $95 annual fee however there is an introductory annual fee of $0 the first year, then the annual fee will be $95.
Chase’s Ultimate Rewards program touts its claim that cardholders can book flights for an average of 20 percent fewer rewards points if booked on the rewards program website, plus there are no blackout dates or restrictions.
The card has a variable APR of 15.24 percent on purchases and balance transfers; 19.24 percent variable APR on cash advances and overdraft advances. Balance transfers are charged $5 or 3 percent of each transfer, whichever is greater, and cash advances cost $10 or 5 percent of each advance, whichever is greater. There are no foreign transaction fees for this card on purchases made outside the United States.