Sunday, August 18, 2013

Chase Sapphire Preferred Card Review

Chase Sapphire Preferred Card Review

Chase Sapphire Preferred CardOne of the most talked about cards on the web is the Chase Sapphire Preferred card. People tend to abosolutely love it so I decided to give it a spin. Why? 40k rewards points sold me on the signup. My review is below:
Point Accumulation
40,000 Sign-On Bonus
: This is what ultimately drove me to signup for the CSP. 40k in points can be valued at $400. I wanted the reward points for travel rewards where Chase gives a 20% bump so my 40k was actually worth $500.
Double Points on Travel, Restaurants, and Transportation: This means travel spending results in 2 points per dollar. 2 points spent on travel yields 2.4% in cash back return. 2.4% is nearly unheard of in return.
Triple Points on Restaurants for First Fridays: Do you like to let loose after a long work week? Chase Sapphire Preferred offers triple points at restaurants on the first Friday of each month for the rest of 2013.
7% Annual Point Dividend: We know that you receive double points on travel, restaurants, and transportation, but you will also generate a 7% annual point dividend on all of the points. Even points that were redeemed.
No Foreign Transaction Fees: Fees can run 3% for many credit cards. This is a huge money saver for any overseas traveler. 
Annual Fee: Waived for the first year. After that $95. Why would you not want to take a test drive for free?
I clearly took the deal and went for the CSP test drive. If you are looking for a card that will give you a great signup bonus as well as perk throughout the way you should strongly consider this card.

Net Worth July August 2013

I am consolidating all accounts into one master list. Previously I was only tracking non-joint accounts, but now that student loan debt is at zero it makes sense to be completely representative of the household assets and liabilities.

We are about to close on a house soon so there will be drastic changes in cash and debt levels. We intend to save systematically via 401(k) accounts, SEP-IRA accounts, taxable investment accounts, and high yield savings accounts while paying the mortgage. 

Just the facts:

Assets are $484,646 debts are $95.45 for a net worth of $484,550.Assets are composed of: $286,952 in investment/retirement accounts and $197,694 in cash.Debts are composed of: $0 in student debt (woot! woot!). Other liabilities include $95.45 in credit card debt that is paid off in full each month.



The journey continues....