JP Morgan Chase recently celebrated the second anniversary of their Chase Sapphire Preferred card account by doubling the reward points earned on purchases made at selected travel and dining vendors.
Company officials claim that the Sapphire Preferred account not rivals gold cards offered by rival card issuers as the must have card for affluent consumers.
It is fairly standard for rewards credit cards to allow customers to collect extra rewards for travel and food purchases, but Chase Sapphire’s extended list of qualifying transactions looks set to create an all new industry standard.
Chase Sapphire Preferred cardholders now earn double reward points on every dollar spent on travel expenses including airfares, train tickets, car rentals, hotel accommodation, general travel agencies and taxi cabs. Many rival companies offer double points to Gold cardholders on airfare, hotel stays and car rentals only.
When it comes to dining, Chase Sapphire Preferred cardholders can enjoy widened definitions of dining which now includes coffee shops, fast food outlets, take out, and casual eateries in additional to traditional sit-down restaurants.
The improved rewards earning opportunities are just one of the attractive features enjoyed by Chase Sapphire Preferred customers. Some of the other perks offered include a dedicated customer service team which answers calls in person rather than using a ‘phone tree’ or automated response system.
Cardholders also have access to the Chase Ultimate Rewards program, allowing them to redeem their reward points for exclusive rewards and experiences including VIP parties, access to major sporting events and entertainments events. Reward points can also be redeemed for standard rewards including airmiles, merchandise and hotel accommodation.
In a press release regarding the second anniversary celebrations for the Chase Sapphire Preferred card, company officials said that they intend to spread the word about the new upgraded Sapphire credit card with a brand new advertising campaign which will gently poke fun at the rising value of gold on international commodity markets.
The credit card issuer wants to ensure that affluent consumers know that Gold cards are old news and the new must have credit card account id the Chase Sapphire Preferred account. Existing cardholders will automatically receive the enhanced benefits of the credit card account while new customers will enjoy a substantial 50,000 point sign up bonus if they spend $3,000 on their new Chase Sapphire Preferred credit card.
JP Morgan Chase is the latest in a long line of card issuers who are working on improving premium cards to attract more affluent consumers.