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On Thursday I wrote about a possible change in sign-up bonuses coming to the Chase Sapphire Preferred card, since I was informed I’d have to pull my links this morning. My assumption was that it was a change for the worse due to the trend we’ve seen in the industry lately whereby credit card issuers are generally decreasing sign-up bonuses and increasing the minimum spend required to earn a sign-up bonus. While we’ve seen some promotional sign-up bonuses lately Chase just lowered their sign-up bonus on the Sapphire Preferred card in March, and I couldn’t imagine they’d go back to that amount, since it would just throw off consumers.
So my assumption was either that they’d make the card chip & pin (useful for international travel) or that they’d raise the minimum spend requirement. I even had two family members sign up for the card over the weekend, so that was truly my belief.
As it turns out the opposite is the case, and the minimum spend required to earn the 40,000 point sign-up bonus is going from $3,000 to $2,000, so that’s good news.
I suspect some bloggers were let in on this news early, since they posted (with extreme confidence) telling people not to worry, though I certainly wasn’t among them.
So the difference is hardly huge, though I guess a $1,000 decrease in the required minimum spend is quite nice. I’m puzzled though, given the trend we’ve seen in the opposite direction lately.
Either way, this remains a great card thanks to the double points on dining and travel, no foreign transaction fees, waived annual fee for the first year, amazing transfer partners, and good sign-up bonus.