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The number one commandment for travel rewards credit cards is to pay your bill in full each month, but there are times when large purchases or emergency situations arise and that rule simply isn’t feasible. If you find yourself in that boat, you may be in luck as Chase is currently offering some Chase Sapphire Preferred cardholders lower promotional interest rates.
TPG Travel Editor Melanie Lieberman received an email from Chase with an offer for a 9.99% promotional APR on all new purchases made between August 1, 2019 and Jan. 31, 2020. Those targeted cardholders, who are interested, must activate the offer by July 25, 2019.
The 9.99% promotional APR is significantly less than the usual 18.24% to 25.24% variable APR. However, it still negates the value of any points you’d earn and could hurt your credit score, so you’ll only want to take advantage of the offer if you really need to.
If you need a low APR, it could also make sense to open up a new card. There are a number of cards, such as the Citi Simplicity Card, Chase Freedom and Blue Cash Everyday® Card from American Express, which offer an introductory APR period. Just be sure to mark the end dates of the promotional periods in your calendar to avoid hefty fees.
Featured image by Isabelle Raphael / The Points Guy.
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NEW INCREASED OFFER: 60,000 Points
TPG'S BONUS VALUATION*: $1,200
CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners
*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
- 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel