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In general the cards from three of the biggest US issuers — American Express, Chase, and Citi — match one another:
- Each has co-branded hotel and airline credit cards, which offer special perks
- Each has cards that accrue a transferrable points currency
- Each has cards that accrue bonus points in many categories and are among the best for everyday spend, with annual fees around ~$100
However, if you look at the card portfolios from issuers, you’ll notice there’s one area where Chase doesn’t compete.
Premium credit card options…
- They each have a $450 annual fee
- They each offer an annual airline credit, in the range of $200-250
- They each offer a Priority Pass membership
- Then there are several other perks on each card
Chase hasn’t historically offer a product that competes with this. Well, at least until now…
The Sapphire Elite Card could be coming soon…
While it hasn’t been officially confirmed, Doctor of Credit suggests that Chase will be launching a new premium credit card on August 21, 2016, called the Sapphire Elite Card. As of now we don’t know many details, though it’s suggested that:
- The annual fee will be in the range of $300-400
- The card will offer a sign-up bonus of up to 100,000 points (though we don’t know the minimum spend)
Beyond that everything is pretty unclear at this point. We don’t know what the points earning structure will look like, or what the perks will look like. But I imagine the card is getting its inspiration from The Platinum Card® from American Express and the Citi Prestige Card, so I imagine benefits will be similar. It’s interesting that the annual fee will supposedly be $50-150 lower, though, given that typically all these issuers just match one another.
This card will obviously be a premium version of the Chase Sapphire Preferred Card, which offers double points on dining and travel, and is considered one of the all around best cards out there for everyday spend.
At this point it’s all speculation and rumors, though I guess we’ll soon find out the details of this card. I’ve always been surprised that Chase hasn’t competed in this market, so I’m curious to see what they come up with.
What would you like to see from a “premium” Chase credit card?