One day left for the Chase Sapphire Preferred…

UPDATE: This offer is expired. You can find the current application, bonus, and benefits here.

Tomorrow is going to be the worst day for credit card sign-up bonuses in a long time. At 10AM eastern the Chase Sapphire Preferred 50,000 point sign-up bonus is being pulled. If only it were a cruel late April Fools’ joke.

As I’ve mentioned several times before, Chase has only been directly offering a 40,000 point sign-up bonus on the card for a couple of weeks now, though the affiliate links (like mine) still offer 50,000 points until tomorrow morning.

The card has amazing benefits which I’ve covered a hundred times before, including no foreign transaction fees, double points on dining and travel, and access to an amazing shopping mall that can earn the average person tens of thousands of bonus points per year.

So rather than rehash all that, let me point out four things:

  • This card will boost your confidence and get you dates. Do you have any clue how gratifying it is to hear on a near daily basis “wow, I’ve never seen one as thick as this before.” It’s a sexy card.
  • The $3,000 minimum spent isn’t that hard to accomplish. You just have to spend $3,000 within three months to get the 50,000 points. Amazon Payments will let you send $1,000 per month to someone by credit card without any fees. There you go, your minimum spend is taken care of.
  • Humans work at Chase. People always ask “I signed up for XYZ Chase card on XYZ date, can I get approved for the Chase Sapphire Preferred?” Even if you initially get denied, Chase has a great reconsideration line with humans empowered to overturn any decision. If you have an existing Chase card, they’ll in almost all instances let you close the existing card in lieu of a new one, and you still get the sign-up bonus.
  • Signing up for credit cards doesn’t ruin your credit score. I’d argue it actually helped mine. The number of inquiries on your credit score makes up only a small part of your credit score. A larger part of your credit score is your utilization and length of credit history, both of which can be helped by having more long-term credit cards.

Any questions on the card? Let me know below and I’ll help ASAP.

On a somewhat unrelated note, I got two American Admirals Club passes in the mail today which expire on December 31, 2012. I have no use for them since I have an American Express Platinum which gives me access to Admirals Clubs. Instead let me know in the comments whether you have the Chase Sapphire Preferred card or not, and I’ll randomly pick a winner at 10AM eastern tomorrow.

Comments

  1. I have been procrastinating about applying for this card…but am clicking your link to apply for it today! Thanks for the heads-up.

  2. I have the Chase card and use it as my primary card for whenever I’m not trying to meet a minimum spend on something else. I plan on signing my wife up tonight. In a few months, when I’ve finished spending on another current card, I’ll sign up for the Ink Bold (for me) and the Freedom (for my wife).

    And I could make good use of those lounge passes, I think.

  3. “Tomorrow is going to be the worst day for credit card sign-up bonuses in a long time”

    That sounds a bit hyperbolic to me – a decrease of 10K UR points is the worst day for sign up bonuses in a long time?

  4. I will be much relieved not to hear about the Chase Sapphire cards again for a while on Boardingarea.

  5. After procrastinating on the Chase Sapphire Preferred, I got approved last week and it’s coming in the mail tomorrow. At last.

  6. I got it 3 months ago when the rumors were first floated about it being a ‘limited time offer.’

  7. I don’t need the lounge passes, but “Humans work at Chase” is a HUGE perk!

    My husband and I each have the card, and I love that the folks at Chase *answer the phone* and *know what they’re talking about*! It’s really refreshing.

  8. I have the card. I was afraid I wouldn’t be able to hit the minimum spend and would need to use Amazon Payments, but I hit it easily due to some plane tickets and Frequent Miler’s Staples deals.

  9. @ JettyBoy — Perhaps a bit hyperbolic (it wasn’t the intent), though symbolically it’s a sad change. The Chase Sapphire Preferred in my opinion offered both the best sign-up bonus AND the best benefits of any card. It was a “no brainer.” While the benefits are still great, the sign-up bonus isn’t really the absolute best out there anymore.

  10. Was approved for the Sapphire Preferred last night – swapped it in for the Continental OnePass card. I was not proactive enough so I am probably going to be missing out on the MileagePlus Explorer go around =\

  11. Had it since January. Great card, and probably the only one with an annual fee that I’ll keep.

  12. It has been my go to card since I got it and it does make an impression when i wbip it out.
    ps could definately use one of those passes.

  13. I had Chase close my British Airways card that I got last year for the 100k bonus (coming up for renewal of the $95 annual fee) and move my credit line to the Chase Sapphire Preferred. I consider it a double win!

  14. Just got the Chase Sapphire last week when I saw the 50K offer was expiring. Lounge passes would be awesome for our trip to Germany this summer!!!

  15. Regarding the $1k/month Amazon Payments – could you just “send” yourself $1k/month for 3 months and call it good? Do you even need to involve anyone else, and instead just send it to your own bank account? Any reason not to do this?

  16. I’ve had the card for a couple of months now and it’s amazing! I’ll face a difficult decision next February, though, where it will cost me $95 if I want to keep it.

  17. No. But it might hurt your credit score; while utilization is important, and getting a new card can help with that, so is your credit age. When you get a new card, your average age is LOWERED. That hurts your credit.

  18. I do have this card, and it is the only one I am keeping past the annual fee. It’s a no-brainer for me, especially with the “cool” factor (though I will say that my wife is getting sick of cute waitresses using the card as an excuse to flirt!).

  19. I really want the card, but as a recent college grad I don’t think I’d even get approved…

  20. have the card and definitely recommend it to anyone that doesn’t. my go to card for all travel and dining spend.

  21. I applied a few days ago through your referral link, and they said it was pending approval. Is there a phone number I can call today to follow-up on this today so that I can ensure to get the 50k bonus?

  22. @ Antonio — Yes, I suggest calling them at 1-888-245-0625. They may be able to instantly approve your application there. Thanks for using my link, I appreciate it!

  23. I have way too many Chase cards already.

    I could however use the Admirals Club passes.

    Thanks

  24. I have the card and use it for EVERYTHING. It really is a great card, especially the no foreign transaction fee benefit!

  25. After reading your blog for a couple of months, I too applied for, and received my Sapphire Preferred card, but unfortunately not early enough to get the extra, end of year, percentage on the sign-up bonus. Still, it will probably be worth it for me to pay the fee this year for that percentage boost.

  26. I applied for the Sapphire Preferred the other day, but have not received a decision yet. Probably another call to the reconsideration line is in order.

  27. I don’t have the Chase Sapphire. Still considering it. I also don’t have the AmEx Platinum — hence why I’m hoping to witn the AC passes.

  28. I have the Chase Sapphire. I’m considering swapping it for my United branded Visa Select as my main “do not cancel” card.

  29. If I cancel the card after a year, do they charge the annual fee? I’m just not sure how much I would use it as I have the Amex Reserve.

  30. @ Mark — Nope, as long as you cancel before the first year is up there’s no annual fee.

  31. I have one. And I applied through your referral link. Does that give me more score of getting your pass?

  32. @ Get Gowing — I believe if you exceed $20,000 in payments they have to report it to the IRS. Other than that they don’t.

  33. Just applied… and my application requires further review. Got the United Explorer card about 60 days ago. Time to call the re-considreation line…

  34. I love my Sapphire Preferred. Although I accidentally left it behind at a restaurant over the weekend so I better go pick it up!

  35. I have the Chase Sapphire Preferred. It’s my first foray into the mileage game and has worked well as my regular spend card.

  36. I just used your referral link to apply and was instantly approved. 50k points! And yeah, Admirals Club passes would be greatly appreciated…

  37. I have the card and use it often. It is great when travelling abroad. And yes, it often gets positive comments.

  38. I just applied through your link but received a message that said: “Thank you for applying. Your application requires further review before we make a decision.” Called Chase customer service and was told approval apartment is closed until morning. Will try calling again first thing tomorrow!

  39. I have the Chase Sapphire card and I love it! Use it all the time. That, and my Gold Amex card.

  40. I just applied and just waiting to get my Chase Sapphire in the mail. Can’t wait to start using it and get the bonus!

  41. Just got it, and it is sexy. Though convincing my wife to go on a date with me isn’t too difficult a task. 😉

  42. I applied and waiting for it to arrive.
    Looking forward to the bonus
    Not sure where to use Sapphire vs. my Presidential Plus Chase.
    I will use the latter for car rental and to buy UA flights.

  43. I got the card last month and i think it’s absolutely awesome! I would love to get the lounge passes as a have flights on American coming up.

    (btw Lucky, I’ve indeed gotten some, shall we say, “positive reactions” for using the card 😉

  44. I’ve got it — grandfathered in from an earlier Chase Trevel Card. Can’t say the cool appearance has made any difference. It fits snugly enough in my wallet that it’s hard to pull out of its slot.

  45. I have the card, and it is a key part of my arsenal. The 2.14x points (after the 7% dividend) is clutch, especially since it’s so much more than just airfare and hotels.

  46. Hi,

    Am not a local US resident but also interested in applying for the card if possible.

    Am willing to deposit a sum of money with the bank if necessary. All I want are the points! haha.

    Do you think that’s possible? Please advise 🙂

  47. I have the Chase Sapphire, flips out everyone since they try to read the number and there are no numbers in the front! LOL, then they say, I’ve not seen one of these…makes them think I am super cool!

  48. I have the card and love it for the ability to transfer to so many air/hotel partners! My Citi AA cards are still my faves to build up miles for intl travel, but this is definitely a super card.

  49. I have the card and love it for the ability to transfer to so many air/hotel partners! My Citi AA cards are still my faves to build up miles for intl travel, but this is definitely a super card. And the weight (it’s graphite) always freaks out people in stores. What could be more fun than that?

  50. I waited until the final hour but your post finally convinced me to make the jump! Card will be here in two weeks.

  51. Damn, they really did pull it right at 10! Just tried to apply (10:04 ET) and got “this offer is no longer available”

  52. @ david — If only!

    @ Eric P — Do you at least use the American Express SPG when trying to accrue AA miles so you essentially earn a 25% bonus?

    @ JL — I wasn’t kidding!

  53. Applied at 12:15pm ET using the link and the 50k bonus was still showing. Immediately approved. Anyone else get it to work after 10am? Hope it wasn’t a glitch. An hour later it didn’t work. Think I’m good?

  54. Hi, I really want this card, especially the Mastercard stamp. However, I just got out of college and I don’t really have a credit line yet. My credit score is 693 but I don’t have a sufficient credit history. I’m just starting to pay my loans so that’ll help eventually.

    I tried calling Chase but unless you already have an account with them, there’s no getting through.

    Do you recommend I apply for the card anyway?

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