Generous sign-up bonuses have been the most sustainable way for us to maintain a high point balance and continue our free travel. That’s why this credit card from Chase is huge news. Their new Chase Sapphire Reserve card is open for applications as of today, and their juicy sign-on bonus is the best I’ve ever seen. (Nope, I do not get commission on this blog for endorsing Chase Bank. Be aware that some blogs do, so do your own research before applying for any credit card.)
If you’re considering diving into the world of miles and points, now’s the time.
Before applying, make sure your credit score is at least 700. You can check your credit score for free at http://www.creditsesame.com.
Unfortunately, if your score is not at least 700, you should stop reading this post and google ways to increase your credit score. Work on boosting your credit score first, then look into applying for credit cards.
If your credit score is 700+ and you’re new to credit cards, here are some rules to live by:
- Follow the credit card’s terms and conditions exactly to ensure you get the sign-up bonus.
- Pay your credit card in full each month! Credit cards always have hefty interest rates and late fees. If you know you’ll over-spend, do not get a credit card. You’re probably better off actually paying cash for your dream vacation versus getting slammed with crazy high interest rates.
To apply for the Chase Sapphire Reserve card, follow this link:
Here are their terms and conditions:
- 100,000 Ultimate Reward points after spending $4,000 in the first 3 months
- If you are not a big spender (like me), I recommend going to CVS and purchasing 8 x $500 visa gift cards ($3.95 fee for each, so $31.60 total). This ensures that you fulfill the requirements to get the 100,000 bonus points.
- $300 annual travel credit
- $450 annual fee (really $150 with the annual credit….)
- $450 annual fee is worth it just to get the sign-up bonus in my opinion
- I would not keep this card and pay the $450 fee because we do not spend enough money for this to make sense.
Ultimate Reward points are awesome because they can easily be transferred out to your frequent flyer accounts or hotels. I like to transfer my points to United or Southwest if I’m looking for flights. For hotels, I might transfer my points to Hyatt or IHG if it makes sense.
This card would give you a lot of flexibility is planning your dream trip. I guarantee it.