There’s been a lot of discussion since we pointed out that the Chase Freedom credit card has one of the best reward programs.
So let’s see what you think about the new Chase Sapphire credit card. We think it provides an intriguing combination of cash rebates and interest rates.
It charges no annual fee and an annual interest rate of 12.24% on purchases, which is lower than the teaser rate on many other credit cards.
As soon as cardholders make their first purchase they receive enough bonus points for a $100 rebate.
After that they earn points on all purchases, which can be redeemed for a 1% cash rebate. (Chase promotes a higher 2% to 10% rebate on purchases made through its Ultimate Rewards program, but that’s more marketing gimmick than real savings.)
This seems to strike a good balance for consumers who need a low interest rate because they occasionally carry a balance, but want to benefit with a modest cash rebate when they’re all paid up.
Click here to compare rates and rewards from dozens of credit cards in our database.