Chase Sapphire Card
The new high-end “Chase Sapphire Card” is being rolled out soon for select existing credit card holders.
It’s unclear what the credit card actually offers, but I received a letter in the mail from Chase concerning the card yesterday.
It read: “Thank you for being one of our most valuable customers. We’re recognizing your loyalty with an exclusive invitation to upgrade your card to the new Chase Sapphire – at no cost.”
Among the known features, the Chase Sapphire credit card will provide a “higher level of services and benefits,” including 24-hour concierge service and improved rewards via the company’s new “Ultimate Rewards” program.
The rewards program offers no earnings caps, no expirations, no blackout dates, and no travel restrictions.
According to the letter, I’ll receive a formal application in the upcoming weeks to upgrade my current Chase credit card to the new Sapphire card.
It’ll be interesting to find out more details about the card, and just how exclusive it really is.
It seems to be following in the footsteps of the Visa Black Card and the Black American Express Card.
Credit card issuers are certainly pooling card holders into two diverging groups; one group is seeing credit card accounts closed or credit lines cut, while the other group is seeing improved benefits and services.
Of course, it’s probably all of bunch of hype, and there’s a good chance I won’t actually bother upgrading, as I don’t use my Chase credit card much anyways.
Update: The Chase Sapphire Card basically wipes out a pre-set spending limit, similar to some higher-end American Express credit cards, and instead determines how much you can spend based on your purchase history and other credit reporting details.
That means no over the limit fees, but it also means your credit utilization could get thrown out of whack because your actual balance may appear as your total credit limit on your credit report.
As a result, I’m not going to upgrade…just not compelling enough for me.
(photo: gemteck1)
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Posted Under: Credit News