Latest news with #creditcard
CNET
39 minutes ago
- Business
- CNET
You Can Snag a $200 Amazon Instant Gift Card. Here's How
Zooey Liao/CNET The Prime Visa is easily the best credit card for shopping on Amazon with its high rewards rate and instant Amazon gift card offer. Ahead of the four-day Prime Day event on July 8-11, this card just upped its welcome offer from $150 to $200. It's rare for a credit card to offer a welcome bonus that you don't have to "earn" by spending a certain amount with the card. And while the Prime Visa technically has no annual fee, you'll need to be an Prime member to get approved for this card, which costs $139 annually. I've had the Prime Visa card for going on four years, and it comes in handy when I need last-minute gifts or everyday essentials. I also like that it earns 5% back on all purchases at Amazon and Whole foods, and often earns even higher rewards on select items during events Prime Day. How do you earn a $200 Amazon gift card with the Prime Visa? All you have to do to earn this $200 gift card is get approved for a new Prime Visa credit card. Once approved for the Prime Visa, you'll receive the Amazon gift card right away. Most cards require you to spend a certain amount in the first few months of account ownership to "earn" a bonus, but the Prime Visa card doesn't. The gift card is automatically added to your Amazon Prime account when you're approved for this card. What are the Prime Day benefits of the Prime Visa card? Amazon's flagship card is a great all-around rewards card, since it offers 5% back on travel booked through Chase and 2% back at gas stations, restaurants and rideshare services. You can also earn 7% back or more on eligible Amazon items from July 8 to 11 when you opt for no-rush delivery, and 10% back on select products. Checking out on Amazon is certainly convenient, but I also like to shop small. You can do both by shopping through Amazon's small business shopping hub. It's not the smoothest shopping experience, but it's worked well for me in a pinch. Is the Prime Visa the best card for shopping Prime Day? It's difficult to find another card that offers all of the same Amazon perks as the Prime Visa. But this card only makes sense if you're a Prime member and regular Amazon shopper. If you're not a Prime member, check out the card's younger sibling, the Amazon Visa, which earns 3% back at Amazon. It's not as rewarding but has no annual fee and comes with a $50 gift card on approval. Don't shop Amazon often enough to justify either card? No problem. Our CNET credit card editor, Evan Zimmer, recommends the Blue Cash Preferred Card from American Express for groceries and gas and the Wells Fargo Active Cash Card* for pretty much everything else. There's also the Blue Cash Everyday Card from American Express, which has no annual fee and offers rewards with select U.S. online retailers, including Amazon. For rates and fees of the Blue Cash Preferred Card from American Express, click here. *Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Please visit for more details. Underwritten by Amex Assurance Company. *All information about the Prime Visa and Wells Fargo Active Cash card has been collected independently by CNET and has not been reviewed by the issuer.
Yahoo
13 hours ago
- Business
- Yahoo
Why the biggest-ever ‘triple witching' options expiration could deliver a jolt to Friday's trading
On Friday, option traders will face something unprecedented: A monthly options-expiration event coming one day after a holiday when major U.S. stock exchanges will have been closed for business. Contracts tied to more than $6 trillion in stocks, ETFs and indexes are due to expire during the latest 'triple witching' options-expiration event — potentially the largest sum on record, according to data from SpotGamma. 'I'm at my wit's end': My niece paid off her husband's credit card but fell behind on her taxes. How can I help her? Why the biggest-ever 'triple witching' options expiration could deliver a jolt to Friday's trading Israel-Iran clash delivers a fresh shock to investors. History suggests this is the move to make. 'I prepaid our mom's rent for a year': My sister is a millionaire and never helps our mother. How do I cut her out of her will? I'm 75 and have a reverse mortgage. Should I pay it off with my $200K savings — and live off Social Security instead? The quarterly undertaking is typically associated with higher trading volumes and greater volatility in the U.S. stock market. See: Is the stock market open on Juneteenth? Will the post office deliver mail? But the June event will take place one day after Thursday's Juneteenth markets holiday, and a monthly options-expiration event has never before followed a markets holiday, according to Dow Jones data going back to at least 2000 — although there have been numerous examples where monthly expirations occurred on the Friday before a long holiday weekend. 'On the one hand, it has the potential to be a low-volume day; a lot of people will probably take Friday off and make it a long weekend,' said Bret Kenwell, a U.S. investment analyst at eToro, told MarketWatch on Wednesday. 'But triple-witching days are usually one of the most high-volume days of the entire quarter,' he added. 'So it does have the potential for maybe some wackier moves, and maybe some bumpiness.' Adding to the uncertainty, the latest bout of volatility inspired by the Israel-Iran conflict has pushed the Cboe Volatility Index VIX back above 20, a level roughly equivalent to its long-term average. Higher volatility tends to push the premiums that traders pay for option contracts higher. The VIX is based on activity in options tied to the S&P 500. Brent Kochuba, founder of SpotGamma, said he had initially expected volatility to subside heading into Thursday's holiday. SpotGamma is a provider of data and analytics about the options market. 'But that may not be in the cards due to the geopolitical backdrop,' Kochuba told MarketWatch via email. U.S stocks were trading higher on Wednesday afternoon as Federal Reserve Chairman Jerome Powell held his regular press conference following the conclusion of the central bank's two-day policy meeting. The S&P 500 SPX was up by 20 points, or 0.3%, at 6,002 in recent trade, according to FactSet data. The Dow Jones Industrial Average DJIA was up by 122 points, or 0.3%, at 42,339. The Nasdaq Composite COMP was up by 113 points, or 0.3%, at 19,660. Mike DeStefano contributed reporting Why Tom Lee says the odds favor a stock-market rally after the Fed decision I'm 51, earn $129K and have $165K in my 401(k). Can I afford to retire when my husband, 59, draws Social Security at 62? 20 companies in the S&P 500 whose investors have gained the greatest rewards from stock buybacks Israel-Iran conflict poses three challenges for stocks that could slam market by up to 20%, warns RBC 'It might be another Apple or Microsoft': My wife invested $100K in one stock and it exploded 1,500%. Do we sell? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Chase's $795 Sapphire Reserve card signals a shift in the credit card perk wars
A fresh candidate is vying to become the ultimate first-world problem: Is the new $795 annual fee for the Chase Sapphire Reserve, the first "viral" credit card, still worth it? It's a premium cardholder's dilemma. But it's also a lagging economic indicator, a sign of the heightened competition for affluent consumers. And a stark reminder of the labor market dichotomy, where things are decent if you have a job and disheartening if you don't. That's another way of getting at how a financial proposition can seem like an absurd agreement to one person but an irresistible deal to another. Why stress over a few more hundred when the value of the return nets you thousands? What we are also talking about is purchasing power and consumer wealth gaps. It's what animates much of our national politics and fuels chitchat among friends: the price of eggs, of a Chipotle order, childcare, a car, a mortgage, college, the list goes on (and so do the subscription charges). For consumers, the higher price comes with a host of rewards and an expanding ecosystem of partner benefits. So the math for what is essentially a tricked-out $800 coupon book can still make sense for you. By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy It certainly does for Chase (JPM), whose card overhaul underscores greater competition for affluent customers as lenders scramble to out-perk one another. And, with that whopping fee, further attempts to transform the relationship between bank and client and truly turn it into club and member. On Monday, American Express (AXP) announced it is revamping its Platinum cards (details coming in the fall) with its "largest investment ever" to entice consumers with travel, dining, and lifestyle benefits. Wells Fargo (WFC), newly unleashed from regulatory restrictions, is trying to get in on the action too, unveiling its own travel-focused card as part of an effort to grow its lackluster credit card business. Something is clearly happening. For card issuers, one set of valuable customers is those who charge tens of thousands of dollars on their cards, generating swipe fees, and those willing to pony up the annual price tag without exercising the variety of perks. In a financial sense, customers who optimize for perks but don't spend all that much aren't as valuable — which the new fee addresses, making more money off people if they don't swipe or tap enough and pricing out the low-rollers. Lenders angling for only the highest tiers of wealthy consumers also speaks to where we are in the economic cycle. Earlier this month, executives at dollar store chains disclosed that they are seeing an influx of higher-income shoppers as uncertainty grips the country and households go on the hunt for bargains. So people who typically shop at more expensive retailers with middle and high incomes are trading down, just as premium credit card lines are prepared to jettison clients who stand slightly higher on the wealth ladder. More rationale will come when the bank reports its quarterly results. But we can only imagine that executives are confident in their "affluent consumer" strategy. As JPMChase CEO Jamie Dimon said a few years ago, "The card was so successful it cost us $200 million, but we expect that to have a good return on it. I wish it was a $400 million loss." Hamza Shaban is a reporter for Yahoo Finance covering markets and the economy. Follow Hamza on X @hshaban. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNN
3 days ago
- Business
- CNN
Chase Sapphire Reserve is making big changes, including a $795 annual price hike
CNN Underscored reviews financial products based on their overall value. We may receive a commission through our affiliate partners if you apply and are approved for a product, but our reporting is always independent and objective. This may impact how links appear on this site. This site does not include all financial companies or all available financial offers. Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit to learn more. The Chase Sapphire Reserve® card, one of the most popular high-end travel rewards credit cards, is getting a makeover, and it will have a much higher annual fee to go with it. Chase just announced that, beginning June 23, 2025, cardholders will have to pay a fee of $795 per year instead of the current $550 annual fee. That's a 44.5% hike, vaulting the Sapphire Reserve ahead of the competing The Platinum Card® by American Express, which has an annual fee of $695. Cardholders will get a slew of new benefits for that increased annual fee, but one of the most attractive features of the Chase Sapphire Reserve is going away. The card will now earn just 1 point per dollar spent on general travel purchases, in exchange for higher earnings on flights and hotels. That change is sure to irk cardholders using the Sapphire Reserve as their go-to card for everyday travel expenses. Here's a look at what's changing and what's staying the same, as well as possible alternatives now that the hiked annual fee and changed earnings may make the Chase Sapphire Reserve less attractive to some. The annual fee hike goes into effect on June 23. If you apply for and are approved for the Chase Sapphire Reserve card before that date, you will be charged the current fee of $550. Existing cardholders will be charged the higher annual fee beginning Oct. 26, so if you already have the card and your anniversary date falls before that day, you will still pay the current, lower fee. The annual fee to add an authorized user is also going up on the same dates, from $75 to $195. That's an increase of 160%. Instead of earning 3x points per dollar on all travel expenses, the card will now earn up to 8x points on some travel categories, but only 1x on general travel, including mass transit, vacation bookings like Airbnb and cruises. The good news is that the Chase Sapphire Reserve card will now offer increased points earnings on flights booked through Chase Travel, as well as flights and hotels booked directly. Hotels booked through Chase Travel: Now earns 8x (previously 10x) Hotels booked directly: Now earns 4x (previously 3x), after using the $300 travel credit Flights booked through Chase Travel: Now earns 8x (previously 5x) Flights booked directly with airlines: Now earns 4x (previously 3x), after using the $300 travel credit Rental cars booked through Chase Travel: Now earns 8x (previously 10x) All other travel, including vacation rentals and mass transit: Now earns 1x (previously 3x) It will also continue to earn 3x on dining, 5x on eligible Lyft rides and 10x on eligible Peloton purchases. Like in its current incarnation, the revamped Sapphire Reserve offers credits that help offset the annual fee. In exchange for a much higher fee, there are a host of new credits. $500 annual statement credit for stays booked on The Edit, a collection of luxury hotels and resorts curated by Chase (split into two biannual credits of $250) $300 annual credit at Sapphire Reserve Exclusive Tables, which can be booked on OpenTable (split into two $150 biannual credits, activation required) $300 annually in monthly DoorDash promotions (a $5 restaurant promo and two $10 promos on everyday essentials each month, activation required by Dec. 31, 2027) $300 annual statement credit for concert and event tickets purchased on StubHub or Viagogo (split into two $150 biannual credits, activation required) $250 annual statement credit for Apple TV+ and Apple Music subscriptions (one-time activation per each service required, on or the Chase mobile app) $120 in annual Lyft credits, up to $10 monthly (through Sept. 30, 2027) $120 in annual statement credits toward Peloton memberships, $10 monthly (through Dec. 31, 2027) Complimentary DashPass membership with DoorDash, worth $120 (activation required, by Dec. 31, 2027) The $300 annual travel credit, applied automatically to all purchases in the travel category and resetting each year on the anniversary date, is unchanged. Unlike the travel credit, the new credits aren't applied automatically, and maximizing them requires some work on your part. They are also geared more toward lifestyle purchases rather than travel. That said, if you can utilize all of the credits to their maximum, that's the equivalent of more than $2,300, which would offset the annual fee by almost three times. A travel benefit that's being added to the Chase Sapphire Reserve is automatic Platinum elite status with IHG One Rewards, the loyalty program of hotel chain IHG, which includes brands such as Holiday Inn, Intercontinental and Crowne Plaza. Platinum is the second-highest of IHG's four elite levels and gets you, among other perks, 60% bonus points on IHG stays, a welcome amenity of points or a drink/snack, early check-in if available and guaranteed room availability within 72 hours. IHG Platinum status also includes Five Star status with Hertz, which would otherwise require spending $2,400 on car rentals in a year. Five Star status gets you complimentary one-car-class upgrades when available and 25% bonus points on all Hertz rentals. After spending $75,000 on the Chase Sapphire Reserve in a calendar year, cardholders will have access to the following additional perks: IHG One Rewards Diamond status, the highest elite level in the IHG One Rewards program Southwest Airlines A-List status $500 Southwest Airlines credit (when booked through Chase Travel) $250 credit for The Shops at Chase, an online shopping portal for cardmembers featuring brands such as Bang & Olufsen, Breitling, Cuisinart, Dyson, Ray-Ban, Samsonite, Sony and Tumi While these are attractive perks, the threshold to unlock them is very high. Some of the benefits that have made the Chase Sapphire Reserve one of the most popular travel cards at the high end of the credit-card market remain, including the benefits listed below. $100 application fee credit every four years for Global Entry, TSA PreCheck or Nexus (note that the application fee for Global Entry recently increased to $120) Access to Chase Sapphire Lounges at US airports with up to two guests and complimentary Priority Pass Select membership (activation required), allowing access to more than 1,200 airport lounges worldwide Trip cancellation/interruption insurance, trip delay reimbursement, lost luggage reimbursement, baggage delay insurance, rental car protection, travel accident insurance and emergency evacuation assistance for trips booked with the card The Chase Sapphire Reserve may not be the card for people who don't plan to use the numerous credits that can more offset the steep annual fee, which will be raised from $550 to $795 starting June 23. There are, however, other cards that offer travel benefits and could be an alternative. A less expensive choice within the Chase credit card ecosystem is the Chase Sapphire Preferred, with an annual fee of $95. For that much more palatable cost, the Preferred still earns 3x points on dining and 2x on all travel, making it more attractive for travel expenses that aren't flights, hotels or Lyft rides. The Capital One Venture X Rewards Credit Card, with an annual fee of $395, earns 10x on hotels and rental cars and 5x on flights booked through Capital One Travel. It also offers the same annual travel credit as the Chase Sapphire Reserve — $300 — when booking through Capital One. Crucially for many travelers, it also offers complimentary airline lounge access, both at Capital One's own airport lounges and Priority Pass lounges. And with an annual fee of $695, the American Express Platinum Card currently sits alongside the Chase Sapphire Reserve at the top of the market — and is suddenly the cheaper to hold of the two. It offers many similar benefits to the Sapphire Reserve, a slew of statement credits and access to the American Express Membership Rewards ecosystem of transferable points. It also earns 5x points for flights booked directly with airlines or with American Express Travel, up to $500,000 on these purchases per calendar year and earns 5x points on prepaid hotels booked with American Express Travel. It also has the most comprehensive lounge access, including Priority Pass lounges, American Express Centurion lounges and Delta Sky Club (when flying eligible Delta flights, subject to visit limits). The following FAQs have been answered by CNN Underscored senior money editor and credit card expert Alberto Riva. Is the annual fee for the Chase Sapphire Reserve card increasing? Is the annual fee for the Chase Sapphire Reserve card increasing? Yes, the annual fee is increasing from $550 to $795 on June 23, 2025. Will the Chase Sapphire Reserve card still have dining credits? Will the Chase Sapphire Reserve card still have dining credits? The Chase Sapphire Reserve card will continue to earn 3x on dining worldwide. Will the Chase Sapphire Reserve card have a $10 monthly Lyft credit? Will the Chase Sapphire Reserve card have a $10 monthly Lyft credit? Yes, the Chase Sapphire Reserve will have up to $120 in annual Lyft credits, up to $10 monthly (through Sept. 30, 2027). CNN Underscored's team of expert editors and contributors carefully reviews credit cards, travel rewards and loyalty programs to help readers navigate changes and make informed financial decisions. For this story on the Chase Sapphire Reserve updates, credit card expert Alberto Riva applied his years of industry knowledge to ensure every detail is accurate and actionable. Our recommendations are grounded in real-world value — not hype — and backed by thorough analysis, expert insight and a commitment to clarity and transparency. Editorial disclaimer: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
CNET
3 days ago
- Business
- CNET
Don't Wait: Score an Instant $200 Amazon Gift Card Ahead of Prime Day With This Card
Zooey Liao/CNET With the threat of tariffs driving up prices across the country, Amazon's four-day Prime Day event could help you save money on everyday essentials or home gadgets and tech. If you plan to shop this event, the Prime Visa* just increased its instant gift card welcome bonus to $200. It's rare for a credit card to offer a welcome bonus that you don't have to "earn" by spending a certain amount with the card. And while the Prime Visa technically has no annual fee, you'll need to be an Prime member to get approved for this card, which costs $139 annually. I've had the Prime Visa card for going on four years, and it comes in handy when I need last-minute gifts or everyday essentials. I also like that it earns 5% back on all purchases at Amazon and Whole foods, and often earns even higher rewards on select items during events Prime Day. How do you earn a $200 Amazon gift card with the Prime Visa? All you have to do to earn this $200 gift card is get approved for a new Prime Visa credit card. Once approved for the Prime Visa, you'll receive the Amazon gift card right away. Most cards require you to spend a certain amount in the first few months of account ownership to "earn" a bonus, but the Prime Visa card doesn't. The gift card is automatically added to your Amazon Prime account when you're approved for this card. What are the Prime Day benefits of the Prime Visa card? Amazon's flagship card is a great all-around rewards card, since it offers 5% back on travel booked through Chase and 2% back at gas stations, restaurants and rideshare services. You can also earn 7% back or more on eligible Amazon items from July 8 to 11 when you opt for no-rush delivery, and 10% back on select products. Checking out on Amazon is certainly convenient, but I also like to shop small. You can do both by shopping through Amazon's small business shopping hub. It's not the smoothest shopping experience, but it's worked well for me in a pinch. Is the Prime Visa the best card for shopping Prime Day? It's difficult to find another card that offers all of the same Amazon perks as the Prime Visa. But this card only makes sense if you're a Prime member and regular Amazon shopper. If you're not a Prime member, check out the card's younger sibling, the Amazon Visa, which earns 3% back at Amazon. It's not as rewarding but has no annual fee and comes with a $50 gift card on approval. Don't shop Amazon often enough to justify either card? No problem. Our CNET credit card editor, Evan Zimmer, recommends the Blue Cash Preferred Card from American Express for groceries and gas and the Wells Fargo Active Cash Card* for pretty much everything else. There's also the Blue Cash Everyday Card from American Express, which has no annual fee and offers rewards with select U.S. online retailers, including Amazon. For rates and fees of the Blue Cash Preferred Card from American Express, click here. *Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Please visit for more details. Underwritten by Amex Assurance Company. *All information about the Prime Visa and Wells Fargo Active Cash card has been collected independently by CNET and has not been reviewed by the issuer.
