Skip to content
RATING
Review

This Week in Credit Card News: August 6–12

Updated Sep 09, 2021 | Published Aug 12, 20212 min read

Advertiser Disclosure

Credit Card Insider is an independent, advertising supported website. Credit Card Insider receives compensation from some credit card issuers as advertisers. Advertiser relationships do not affect card ratings or our Editor’s Best Card Picks. Credit Card Insider has not reviewed all available credit card offers in the marketplace. Content is not provided or commissioned by any credit card issuers. Reasonable efforts are made to maintain accurate information, though all credit card information is presented without warranty. When you click on any ‘Apply Now’ button, the most up-to-date terms and conditions, rates, and fee information will be presented by the issuer. Credit Card Insider has partnered with CardRatings for our coverage of credit card products. Credit Card Insider and CardRatings may receive a commission from card issuers. A list of these issuers can be found on our Editorial Guidelines.

At a glance

New benefits announced for Chase Sapphire Preferred and Sapphire Reserve Credit Cards; Venmo introduces “Cash Back to Crypto” program for Venmo Visa Signature Credit Card.

Credit Card Insider receives compensation from advertisers whose products may be mentioned on this page. Advertiser relationships do not affect card evaluations. Advertising partners do not edit or endorse our editorial content. Content is accurate to the best of our knowledge when it's published. Learn more in our Editorial Guidelines.

New Benefits Announced for Chase Sapphire Preferred and Sapphire Reserve Credit Cards

  • Chase has revealed some new benefits and rewards coming to two popular travel credit cards:
  • The new features will be available for all new and existing cardholders starting August 16.
  • New features for the Sapphire Preferred include:
    • 5X Ultimate Rewards points for Travel purchased through Chase Ultimate Rewards
    • 3X points for Dining, including eligible delivery and takeout (previously 2X)
    • 3X points for Select streaming services
    • 3X points for Online grocery purchases (excluding Target, Walmart, and wholesale clubs)
    • 10% anniversary point bonus
    • $50 annual credit on hotel stays purchased through Ultimate Rewards
    • New card design
  • New features for the Sapphire Reserve include:
    • 10X Ultimate Rewards points for Chase Dining purchases through Ultimate Rewards
    • 10X points for Hotel stays and Car rentals purchased through Ultimate Rewards
    • 5X points for Air travel purchased through Ultimate Rewards
    • “Reserved by Sapphire” exclusive dining reservation program (available later this year)
  • These upgrades seem like a response to other issuers making more forays into the travel space, like Capital One opening airport lounges. The new perks should make the Sapphire cards much more competitive with other travel credit cards.
  • Learn more about the Chase Sapphire Preferred Card’s benefits.
  • Learn more about the Chase Sapphire Reserve Card’s benefits.

Venmo Introduces “Cash Back to Crypto” Program for Venmo Visa Signature Credit Card

  • Venmo now allows users to buy and sell certain cryptocurrencies on its platform. Users of the Venmo Visa Signature® Credit Card (Review) can now trade their cash back rewards for crypto, as well.
  • Currently, Venmo allows the buying and selling of Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.
  • Currently, crypto in Venmo accounts cannot be transferred to external wallets. It can only be bought and sold, although this may change. Venmo does not provide a private key.
  • Buying and selling crypto on Venmo will incur transaction fees and a currency conversion spread.
  • The Venmo Visa Signature Card offers 3% cash back in your top spend category each month, 2% in your second top spend category, and 1% for everything else. Eligible categories include:
    • Groceries
    • Travel
    • Dining and Nightlife
    • Bills and Utilities (a rare category)
  • Source: Venmo crypto FAQ
Was this helpful?
Written by

Brendan Harkness

Brendan has been writing about personal finance for over eight years, and is now taking on the challenge of bringing high-quality credit education to the masses. He makes sure that Credit Card Insider is covering the most important credit topics transparently and precisely, and that we have up-to-date reviews of credit cards so you can find cards that are right for you.

Do you have a correction, tip, or suggestion for a new post? Contact us here.

The responses below are not provided or commissioned by bank advertisers. Responses have not been reviewed, approved or otherwise endorsed by bank advertisers. It is not the bank advertisers' responsibility to ensure all posts are accurate and/or questions are answered.

Scroll to top