I own a good amount of credit cards, all with zero balance. I use each of them to maximize the amount of money I get back on each purchase I make. I have been reading up on a “tier list” of credit cards and while I understand this is highly subjective of the user, the Chase sapphire card(s) are always among the best of the best credit cards you can get, which I don’t understand. I do agree that the sapphire cards come with great features, but it all seems negligible due to the annual fee.
To put into perspective, the sapphire preferred card gives 3x points on dining and 3x points for online groceries but charges a $95 annual fee. However, a card I own, the savor one card gives 3% back on dining and grocery in general (doesn’t have to be online) AND it have NO annual fee. The sapphire preferred card also gives 2x points on travel, but any 2% cash back card can match this and usually they have no annual fee as well.
I do realize that their welcome bonus of a hefty 100,000 points (about $1000) is enticing but I just don’t see the value of this card in the long run because of its annual fee. I already have cards that give me 3% back on dining and groceries, a card that has rotating 5% categories, and cards that give me 2% unlimited cash back. Am I missing something here? I want to get the card but I just don’t want to get it for the “status symbol” if it won’t net me profit.