JPMorgan Chase launches Sapphire Card for affluent customers
The market is on the rebound, though it’s still far from recovery as economists claim, but the global gloom is not stopping JPMorgan Chase from launching a new luxury credit card called the “Chase Sapphire,” taking aim at the market for affluent card holders dominated by American Express Co. This luxury credit card from JPMorgan will set elite shoppers apart with no pre-set credit limit, no annual fee and is strictly for households with incomes exceeding $120,000. The new card lures the high-end shoppers with exclusive privileges and concierge service. Chase Sapphire holders earn a point for every dollar they spend. There are two Chase Sapphire cards. The basic card offers the Ultimate Rewards program on shopping at any of the over 300 merchants featured at the Ultimate Rewards Mall and on airfare purchased through the company’s travel booking tool. While the Chase Sapphire Preferred card members will receive 10,000 bonus points on purchases of $50,000 or more per year, concierge services and other emergency services for travelers. The high-end shoppers have not really restrained themselves from indulging in extreme spending, so this might not be a bad idea at all even in the present economic scenario. Let us know how would you react to this by leaving comments in our comments section.