Chase Sapphire Card
Under the points-based program, dubbed Ultimate Rewards, customers will earn points for every dollar spent on certain Chase credit cards, with no earnings caps or expiration dates. Points can be redeemed for travel, cash, statement credits or gift cards, generally on a one-for-one basis with each point worth one penny. Users can also redeem points for merchandise, although the redemption rate is slightly less than one percent.
Similar to American Express and Citi’s rewards program, Ultimate Rewards is designed to work with all of Chase’s reward credit cards.
Chase Sapphire Card
At the same time, Chase has launched a new high end rewards card called Sapphire. The Sapphire card lets you earn points every time you use your Chase Sapphire card to make a purchase. You can redeem points for virtually any reward—without expiration dates, blackout dates or limits to what you can earn.
Sapphire cardholders earn:
- One point for every dollar you spend on the card*
- Double points on airfare purchased through the Travel Booking Tool*
- Up to 10 bonus points per dollar when you shop online at over 300 of your favorite merchants featured at the Ultimate Rewards Mall.*
The Sapphire card comes in two versions, standard or Preferred. The preferred card has a $95 dollar annual fee, but is waived the first year. It offers enhanced rewards over the standard version, including the opportunity to earn 10,000 bonus points each year you spend at least $50,000 with the card.
How does Ultimate Rewards and the Sapphire Card compare
Chase’s new program offer some noteworthy rewards, although they are not best in the rewards credit card category. Citi Foward, for example, offers up to 5 points per $1 spent, and it does not have an annual fee.
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