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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.