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The Chase Sapphire Credit Card is no longer offered. You can find similar card on our Best Chase Credit Cards page.
Like many other banks and credit card companies, Chase offers a myriad of rewards credit cards that appeal to a variety of customers. There are deals ranging from basic cash back rewards to larger sign on bonus deals accompanied by travel rewards; all of these cards play off of the rewards points system developed by Chase. If a potential Chase cardholder is looking for a credit card that offers decent rewards without having to spend a ton of cash, the Chase Sapphire Credit Card serves as viable option.
Benefits and Rewards
When obtaining the Chase Sapphire Credit Card, new cardholders can pay their way towards a sign up bonus of 10,000 rewards points by spending $500 within the first three months of cardholding. Since each reward point is worth about one cent, these points convert to $100 which translates to a 20% return on the initial $500 of purchases.
There is a spending bonus associated with the Sapphire Card; double rewards points are awarded per dollar spent at a restaurant which encourages going out to eat for a date or family outing.
The standard benefit that accompanies this card is a one point award per dollar spent on everyday purchases. These reward points are redeemable one the cardholder has accrued a minimum of 2000 points. Points may be redeemed towards rewards that involve fixed-value travel rewards, gift cards, or statement credits.
If there is ever a case of fraudulent spending, Chase protects its account members with Fraud Liability Protection. Cardholder can rest assured that suspicious activity on card accounts are covered by Chase which provides security for its members.
Rates and Fees
Since this card does not offer as many benefits as some of the upper tier cards offered by Chase, there is no annual fee for holding the Chase Sapphire Credit Card. While the annual fee is missing, transaction fees still present themselves in the case of cash advances or balance transfers. If a balance transfer is carried out, a fee of either $5 or 5% applies to the total amount of the transaction; the choice between $5 or 5% depends on whichever value is greater.
In the event of a cash advance, a transaction fee of $10 or 5% applies to the cash advance total (once again the decision between $10 or 5% depends on the greater value). Foreign transaction fees are applied at a rate of 3% when using the Chase Sapphire Credit Card abroad.
Standard Chase penalty fees apply to the Sapphire Card; for instance, late payments garner a fee of either $15, $27, or $37 depending on the balance amount (under $100, between $100 – $250, or over $250, respectively). A returned payment brings about a penalty fee of up to $37, but there is no penalty fee for a returned check.
The Regular annual percentage rate (APR) ranges from 14.24% to 23.24% on regular purchases while the balance transfer APR follows the same rates as the regular APR. Cash advance APR is 25.24% (variable), and overdraft annual percentage rate runs at 25.24% (variable).
Owning the Chase Sapphire Credit Card provides some decent benefits, but the sign on bonuses do not particularly match up with other Chase credit cards. While there are less costs associated with the Sapphire Card, there are less benefits available as a direct consequence. If potential Chase members are not bothered by lack of special benefits and simply want a credit card with some beneficial return over time, the Chase Sapphire Credit Card is an option that will not disappoint or impress.
Not satisfied? Check out some of the best Chase credit cards that we have reviewed.
Author: Jeff Gitlen
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