Wow, no matter how many credit cards I research, there are always more.This time, as per the title, I will be reviewing the Chase Sapphire Preferred credit card from, you guessed it, Chase! This is a Visa card that offers a lot of value and features for it’s annual fee of $95. Luckily, it’s waived the first year, so you can try it out for free. It also has an amazing bonus, valued at up to $625, after you spend $4000 in your first 3 months of use. Points are worth about 1 cent each, but you get 25% more value from those points if you spend them on travel or dining.
Even if you don’t reach the amount required for that bonus, you can still get a ton of points. You get 2 points per dollar you spend on dining, and travel(airfare, hotels, taxis, and trains), and 1 point per dollar you spend on just about everything else. While traveling, you’ll enjoy it’s absence of foreign exchange fees, and auto insurance. Most cards offer an auto-rental collision waiver, but Chase steps it up with this card. Most other credit cards offer secondary insurance, meaning they only cover what your primary insurance doesn’t. Chase offers primary insurance, meaning they deal with everything, which can make you seem like a better driver to your insurance company :-).
Like all credit cards, they also offer a $0 liability protection, meaning you won’t be charged for purchases you never made. It’s also a Visa Signature, so Visa provides a few benefits not listed on this page.
It surprises me just how many rewards credit cards use Visa, as Visa has the lowest merchant fees, meaning they get less per purchase, than say American Express.