Chase Sapphire Preferred Questions

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daudi81
 
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Chase Sapphire Preferred Questions

Postby daudi81 » Thu Feb 13, 2014 4:20 pm

So I just applied for this card as I have a lot of expenses for business and wanted something to get rewards for my trouble. I have no idea how I got approved, my credit has been damaged pretty bad (set up autopay on several cards, but 2 of them were still continually late. I'm working on getting it resolved since it was their system's fault.). I do have a very good and established credit history though, several cars paid off, lots of credit cards, 2 homes paid off, and a well established income of $450k salary. I don't know what my credit is right now, but it's probably horrible until i can get it fixed.

Questions:

I applied for the Chase Sapphire Preferred but when I got accepted it just said Chase Preferred....is that a typo? I don't really want the regular sapphire.

How does this compare to other travel cards? I don't have a lot of time to research this stuff, but I just see a lot of commercials for it and I bank with Chase, so I figured I'd try it out.

I've read that the card is metal. Is that correct? My close friend has the centurion, and I've always thought the metal thing was cool. I just don't spend 250k per month, so I'm sure I couldn't get it. How does the metal thing work anyway? Does it have a regular metal strip or do you used it another way? Do people constantly hound you or ask questions about it when you pay? My buddy with the centurion always gets slammed with questions, and I think that would get very annoying. But, being the famous black card, it's in a whole league if it's own prestige-wise so that may be why he gets bugged.


MrMosby
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Postby MrMosby » Thu Feb 13, 2014 5:21 pm

It's Metal laminated with Plastic, and its not significantly different like the Centurion or the Ritz card, or Palladium which are metal through and through.


As far as General Purpose travel reward cards go, it's pretty good. I saw a post on Flyer talk a while back that value the Baclay's arrival at roughly 2.2 cents per point, Sapphire 2.0 cents per point and Amex MR at 1.8 cents per point.


Now granted with bonus/etc your mileage way vary.


But in general its one of the better rewards cards.
Everyday Preferred $45K | Amex Platinum NPSL | Citi Hilton HHonors Reserve $45K | Delta Platinum $30K | Chase Sapphire Preferred $64K | Citi Hilton HHonors $45K | Discover IT $25K

samhradh
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Postby samhradh » Thu Feb 13, 2014 10:57 pm

CSP points are more commonly valued at 2.14 (factor in the dividend).

I suggest you do some research first as you've already admitted you haven't. Saves us a lot of trouble.
Citi Forward ($10.1K), AmEx Blue Cash Everyday ($30K), Chase Freedom ($12.4K), Discover it ($5.5K), Barclaycard Arrival ($12.5K), L.L. Bean Visa ($5K). FICO 806 (TU), 812 (EQ), 806 (EX).

takeshi
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Postby takeshi » Fri Feb 14, 2014 9:33 am

daudi81 wrote:How does this compare to other travel cards? I don't have a lot of time to research this stuff

It's really up to you to compare them. No card comparison results in a single best card for everyone. If you don't have time to research then why would we have the time to do it for you -- especially without knowing what you specifically need/want? If you don't have time then wait until you do have time or make time. We all make time for the things that matter to us.

daudi81 wrote:How does the metal thing work anyway?

Works just like a non-metal card.

daudi81 wrote:Do people constantly hound you or ask questions about it when you pay?

Not really. Some notice and comment. Some don't care.

MemberSince 79
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Postby MemberSince 79 » Fri Feb 14, 2014 4:47 pm

You could always call Chase, as they will tell you right away. Not sure where you saw the typo, but the cards are clearly labeled Preferred. So when it arrives you will know. Check the card, a lot of the accompanying paperwork doesn't differentiate.
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back when it meant something.
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freyj6
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Postby freyj6 » Sat Feb 15, 2014 3:21 pm

How does this compare to other travel cards? I don't have a lot of time to research this stuff, but I just see a lot of commercials for it and I bank with Chase, so I figured I'd try it out.


Most people consider it to be one of the best. I'd agree, as long as you're willing to put up with a little bit of complication (probably the best perk is that you can transfer points to other vendors, where they're often worth 1.5-2 cents a piece. If you do that, the rewards rate can be as high as 4% on travel/dining and 2% on everything else.

If you just redeem for travel normally through Chase, you essentially get 25% more value out of your points. So the rewards rate for regular spending would be 1.34 and 2.68 respectively, which is still quite good.

The only real competitor as a stand-alone travel card, in my opinion, is the Barclaycard Arrival. The cool thing about the Arrival is that it earns 2.2% on everything, so if most of your spending is on non-travel, non-dining purchases, it's a bit better. And it uses a simpler system if you don't want to deal with transferring points and stuff.

I'd go with one of those two.

Good luck!
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MrMosby
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Postby MrMosby » Sat Feb 15, 2014 6:27 pm

I'd say anything MR points is also in the top 3 though. I struggle to believe Barclay's will keep the 2.2% up long term.

With MR you can get transfer bonuses, etc and value work out close to the same imho. But you have to use them wisely.

Right now I primarily use my sapphire and ritz cards, but will probably pick up an Amex charge once a good offer comes along because we fly delta more often than not.
Everyday Preferred $45K | Amex Platinum NPSL | Citi Hilton HHonors Reserve $45K | Delta Platinum $30K | Chase Sapphire Preferred $64K | Citi Hilton HHonors $45K | Discover IT $25K



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