Update: Somebody mentioned that application links regularly do not work during the weekend, so the Chase Sapphire no annual fee card will most likely be sticking around. It is strange that the Fairmont offer is redirecting though.
Chase looks to have made a number of changes to it’s credit card line up. Below we have a look at those changes:
- Chase Sapphire Preferred no longer has a 7% annual dividend. This has been replaced by primary car rental insurance. Existing cardholders will have their 7% dividend paid out in February of 2015 and again in 2016 according to MMS. Trip cancellation and interruption coverage is also doubling.
- The Chase Fairmont card is no longer available. Chase has removed most mentions of it from their website and all the applications redirect to https://creditcards.chase.com/
- Similarly the Chase Sapphire (no annual fee) card no longer has working application links. These don’t redirect so we’re not sure if this is an intentional change from Chase or not.
- Chase Freedom is also back up to $175/17,500 points from $125/12,500 points, read our coverage of this here.
Our Thoughts
I actually see the Chase Sapphire Preferred change as an upgrade, keeping the card past the first year and paying an annual fee is not worth it. Unless you’re getting an insanely highly return on your airline/hotel points you’d be better off using a cash back card that earns at a high rate on every day purchases, for restaurant spend and other category bonuses you’re even better off going with another card. Not many cards come with primary rental insurance (the only one I can think of are the United cards from Chase) so this could be a useful benefit for those who are renting.
The Chase Fairmont card being removed is a real downer, I hope this is only a temporary removal or another card company plans to pick up the Fairmont relationship instead (hopefully somebody who is generous with approvals and doesn’t already have a bunch of awesome sign up bonuses). This was one of the most underrated sign up bonuses for a hotel card, giving you two free nights at any Fairmont location and a card we had plan to give more attention to in the near future.
The Chase Sapphire no annual fee being removed is a bit of a nothing change to be honest, if you downgrade your Sapphire Preferred you should be doing it to a Freedom card anyway so you can increase the amount you can spend in the 5% categories (this is an easy way to get multiple Freedom cards).
Overall these changes are pretty disappointing, Chase was smart to add a benefit whilst removing one to make it seem like a net positive. I’d take this opportunity to evaluate whether paying the annual fee on the Chase Sapphire Preferred is really your best option, chances are it isn’t. Hopefully this motivates more of you to research more and find the best card combination for your unique situation.
What do you think of these changes? Let us know in the comments.
