'Crimes Of Fashion' Blogger Revelas Hidden Talent
Jane Seymour's Modest And Modern Style
Is Sapphire The New Black?
You wouldn't think that this would be the time to launch a luxury credit card but JPMorgan Chase & Co. has come out with a new card, Chase Sapphire, which is aimed at the affluent. Bloomberg News reports that Chase Sapphire is for households with incomes exceeding $120,000. The new card has no pre-set spending limit and holders earn a point for every dollar they spend. There are two Chase Sapphire cards. The basic card offers the Ultimate Rewards program that includes double points on airfare purchased through the company's travel booking tool and up to ten bonus points per dollar for shopping at any of the over 300 merchants featured at the Ultimate Rewards Mall. The Preferred card also includes a 25 percent travel bonus that means points are 25 percent more valuable when booked online with the travel booking tool. Preferred card members will receive 10,000 bonus points on purchases of $50,000 or more per year. The cards also offer concierge service and emergency services for travelers. The Chase Sapphire has no annual fee and the Chase Preferred has a fee of $95 after the first year. Chase Sapphire has a 10.24 percent variable interest rate and a $39 late fee for balances over $250.
The Sapphire card is meant to compete against American Express and its many programs for affluent cardholders. The Bloomberg article states that American Express CEO Kenneth Chenault told investors recently that his cardholders on average spend 3.5 times more than Visa cardholders and 4.5 times more than MasterCard users. The Sapphire's points and rewards program are meant to appeal to those who use their cards frequently. Will it work? American Express's cardholders are pretty loyal to the brand. But with American Express raising fees and rates being able to switch to a new card with no annual fee might be appealing.
16 Grammys Looks That Weren't Working
Whitney Houston Dead: Singer Dies at 48, Body Found in Beverly Hilton Hotel
Worst Movie Mistakes: Date Night Edition (PHOTOS)
Whitney Houston Autopsy: Cause of Death Determined?
Whitney Houston, Bobbi Kristina: Late Singer's Daughter Hospitalized
How Hattie Lost 300 Pounds: 'I Was Ready To Do Whatever It Took To Survive'
Whitney Houston Dead: Stars React to Legend's Sudden Death
Adele Five-Year Break? Singer Plans to Focus on Relationship, Write 'Happy Record'
PHOTOS: President Obama's Kissing Technique
Jennifer Hudson Whitney Tribute: Grammy President Reveals Why Singer Was Chosen for Musical Memorial
Grammy 2012 Winners' List: Adele Sweeps Music's Biggest Night
Matt Bomer Comes Out As Gay
5-Hour Energy: A Success Equal Parts Caffeine, Chemistry and Meditation
3 Economic Misconceptions That Need to Die
Grammy Awards 2012: The Best & Worst Of The Red Carpet!
People With Easy-To-Pronounce Names More Likely To Succeed, Study Says
12 Grammys Stars Who Gave Good Style
Photos Of Dead Lacrosse Player's Injured Body Shown To Jury
The Top 10 Slacker Colleges
15 Funny Valentine's Day Cards
Mystery Disease Kills Thousands
WATCH: 25 Million Tons Of Japan Tsunami Debris Headed Directly Our Way
JUNGLE SURVIVAL: Marines Drink Snake Blood, Eat Insects
Oprah Under Fire For Controversial Tweet
PHOTOS: Thank God For Grown-Up Glamour
15 Funny Valentine's Day Quotes
Scuba-Diving Murder Trial: Prosecutors Drop One Charge Against Husband
Taylor Swift Does Great Depression Chic
PHOTOS: Kate Spends Valentine's Day Solo!
PHOTO: Kate Upton Scores 'Sports Illustrated' Swimsuit Issue Cover!
PHOTOS: Beautiful Scars
The 13 Least Romantic Valentine's Day Gifts