Possible change in sign-up bonus coming to the Chase Sapphire Preferred?

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Link: Chase Sapphire Preferred® Card

I’ve just been informed that Chase will be “updating” the Chase Sapphire Preferred® Card very soon, and that I have to pull all affiliate links to the card on Monday, August 20 at 10AM ET.

Credit card companies often update their sign-up bonuses based on whether they’re meeting their targets or not. For example, in March Chase decreased the sign-up bonus on the Chase Sapphire Preferred card from 50,000 points to 40,000 points, and in April they increased the minimum spend required to earn the sign-up bonus on the Ink Bold® Business Charge Card from $5,000 to $10,000.

With this change there are a number of possible scenarios:

  • They could be decreasing the sign-up bonus or increasing the minimum spend required to earn the bonus. I think this is the most likely scenario, given how well the card is performing for Chase.
  • They could be increasing the sign-up bonus or decreasing the minimum spend required to earn the bonus. The former is always a possibility, though keep in mind Chase is usually pretty good about matching better bonuses within 90 days of applying for the card, so you could hedge your bets by signing up now. As far as the decreased minimum spend goes, I’d say that’s highly unlikely given the trend in the credit card industry whereby higher minimum spends are required in order to earn points from the sign-up bonus.
  • They could be introducing a new “product,” meaning they’re modifying the benefits of the card. If this happens there’s a distinct possibility that you could earn the sign-up bonus again after the switch over. Chase did this with the Ink Bold card, whereby last November they introduced the “new Ink Bold card.” Once that was introduced it was possible to earn the sign-up bonus again, even if you had the “old” Ink Bold card. And now it’s possible to earn the bonus yet again with the Ink Plus card, which is their latest product, even though it’s more or less the same thing.
  • They could be making some other small, inconsequential change. I haven’t seen this happen lately, but it’s a possibility. Usually they just advise us to update our material when that’s the case, and not pull the links altogether.

Anyway, if you’ve been eying the Chase Sapphire Preferred card, I’d consider applying before Monday. If the sign-up bonus goes down you’ll be glad you did, and if the sign-up bonus goes up you can always have Chase match it within 90 days, so it’s the best way to hedge your bets.

As a reminder, the Chase Sapphire Preferred card offers a 40,000 Ultimate Rewards point sign-up bonus after spending $3,000 within three months (used to be $3,000), with the annual fee waived the first year (and it’s a very reasonable $95 per year after that). But more than anything else it really is the single most valuable credit card out there. If I could just have one credit card it would be the Chase Sapphire Preferred, given that it offers double points on dining and travel, has no foreign transaction fees, and gives you access to the Ultimate Rewards Mall, which is the most rewarding online shopping portal by far. Best of all Ultimate Rewards points can be transferred 1:1 to United and Hyatt (their two most valuable transfer partners) as well as British Airways, Korean Air, Marriott, Priority Club, and more.

Keep in mind you can also pool your points from the Chase Sapphire Preferred® Card, Chase Freedom®, Ink Bold® Business Charge Card, and Ink Plus® Business Credit Card, and points can be transferred to mileage accounts in anyone’s name.

You can read more about the Chase Sapphire Preferred card here. Or if you have any questions about the card please let me know in the comments section below and I’ll respond as quickly as I can.

Link: Chase Sapphire Preferred® Card

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Comments

  1. C’mon 70k bonus. I’m applying for cards at the end of August. Would love to include a big bonus for this card!

  2. What are my chances of getting approved for the Chase Sapphire if I did a churn 3 weeks ago?

    I got 5 cards: 1 Chase, 1 Amex, 1 Barclays, and 2 Citi.

  3. 40k is not enough to get me to act. If it goes up, I’ll consider it. If it goes down, it’s even more on my “don’t bother” list. Of course, I can be a bit cavalier since one of us in the household already has the sapphire/freedom/checking trifecta.

  4. @Jarred, if you have several chase cards and have been a good customer by paying your bills on time, then there is a good chance you will get this card. If you “threaten” to close one of your other chase cards, they will probably put you on hold, then approve you without closing the other account. The reconsideration line is your best friend with chase.

  5. @ Steve — Yeah, I wish it were going up to, but this card has been performing REALLY well for Chase, so I can’t imagine they’d do that.

    @ Jarred — I’d say you have a good shot at it. If you have an existing Chase card you’d be willing to close in place of the new card I’d say it’s almost guaranteed.

  6. Offers have been trending more positive lately compared to the beginning of the year, thus, I’m betting on a superior offer of some sort. A new version would be best for a lot of us who already have the card – lets hope for that!

  7. We have a mortgage application coming up, so here is hoping that it’s an increased offer (or tweaked benefits) and not down to something “standard” like 25,000 points. If it’s an increase, do you think AMEX responds with a Premier Rewards match? They are really falling behind Chase in a big way….

  8. Sure hope there’s a simultaneous change in the Freedom signup bonus. Looking for an excuse to get my hands on that.

  9. When booking through Ultimate Rewards Mall, is it possible to accrue points/miles through the hotel or airline’s program? I booked a hotel once through Orbitz and then learned I could not earn points for that stay.

  10. If the update is a chip on the card, what are the odds of receiving a “chip-less” card if applying today? Wouldn’t that be cruel?

  11. This pushed me over the edge and got me to sign up for one.

    My hopes: I’d prefer a few more transfer partners over a slight bonus increase or lower spending requirement.

    Just hope that Chase doesn’t decide to increase the yearly fee for this card…

  12. @ Lord Fish — If Ultimate Rewards redirects you to the hotel’s website to book you still earn points (in other words if you’re using the mall). If you’re just booking hotels through the Ultimate Rewards website you probably aren’t technically eligible for points.

    If the update is just chip-and-pin, then there’s probably a decent shot you’d get it by the time you receive it.

  13. @ Euro — They’ve been pretty consistent on the $95 number, so I doubt that’s it.

    @ harv — While there are some mixed reports, most report being able to receive the bonus on both cards.

  14. Just a quick FYI. My UA President’s Plus Chase card just renewed. It is now blue-backed metal with no engraved numbers, same as Sapphire.

    Sorry if this isn’t news.

  15. Lucky… Out of curiosity, what do you actually get as a refferal bonus from the links you include if someone applies for and is approved for the card?

  16. @ Steve — Had no clue, good to know! Guess it makes the Chase Sapphire Preferred less special.

    @ Jack — Unfortunately the contract I signed prevents me from disclosing that. Different bloggers have different bonuses, so it’s unfortunately not something we’re allowed to reveal. Sorry. 🙁

  17. Have you heard anything new that should sway our decision whether to apply for this card before tomorrow morning?

  18. @ BB — I have absolutely no inside information on this and am just going based on history. The Points Guy seems to say with some authority to wait, so maybe he knows something I don’t? I don’t know one way or another, but based on the authority with which he says to wait, I might just hold off…

  19. It’s past August 20 10am ET and the Chase website for the Sapphire looks exactly the same to me.

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