August 26, 2009
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News: Chase Launches Exclusive CC
Have you searched for a good credit card rewards program lately; if so, then you know the offers aren't as abundant as they once were. However, credit card companies have targeted a less risky group of consumers, the more elite creditworthy customer. JP Morgan Chase has launched its new Chase SapphireSM credit card. The Sapphire's target market is the very affluent; so if you're not in the top 15% of all Americans, this card isn't for you. Unlike many new card offers that come with higher fees and less incentives, the Sapphire does not have an annual fee and has some impressive rewards. Most of these premium cards come with higher interchange fees and cost merchants and banks more to process. It is not known if the new Chase Sapphire card will also cost higher interchange fees.
Don't feel too poorly about not being included in the target market, the new Chase Sapphire SM credit card rewards are out of the ordinary and considered a onetime life experience. For cardholders that have a burning desire to tour the Grand Canyon via air or jeep, it'll cost them 11,000 to 24,000 point. If you're interested in whale watching in San Diego or Boston, you'll need a mere 1,800 to 3,200 points. For the impatient sightseer; you can skip the line at the Empire State Building for just 2,400 points adults and 1,900 points for a child. Of course, the Sapphire credit card also has some of the traditional reward offerings for hotel and airfare discounts.
The list goes on with more impressive rewards; and, although the exclusive credit card doesn't have an annual fee, there are some less than inviting conditions. Late fees can run as high as $39.00 while interest rates begin at 12.24% APR and can run as high as 29.99%. If you are one of the lucky top 15%, you can check the new Chase Sapphire card out on their website at www.chase.com/credit-cards.htm.