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The hottest credit card bonus we’ve seen over the past few months (and arguably ever) has been on the new Chase Sapphire Reserve. The card has been offering a bonus of 100,000 Ultimate Rewards points after spending $4,000 within three months.
Not only does the $450 annual fee card have a great sign-up bonus, but it also has a lot of long term perks that make the card worth holding onto, in my opinion. The card offers triple points on dining and travel, a $300 annual travel credit, a Priority Pass membership, the ability to redeem all your Ultimate Rewards points for 1.5 cents each, and much more.
Given the ability to redeem Ultimate Rewards points earned on the card at 1.5 cents each towards the cost of travel, that means the 100,000 points can be redeemed for $1,500 worth of travel. However, you can arguably get even more value out of those points by transferring them to one of the excellent Ultimate Rewards transfer partners, like Hyatt Gold Passport, Korean Air SkyPass, etc.
The card has been around with the 100,000 point sign-up bonus since August, and like all good things, the increased bonus must come to an end.
The last day to apply for the Chase Sapphire Reserve Card online with the 100,000 point bonus will be January 11, 2017. At that point the bonus will be decreased to 50,000 Ultimate Rewards points after completing minimum spend.
However, the Chase Sapphire Reserve will continue to be available in-branch with the 100,000 point sign-up bonus through March 11, 2017.
If you are considering applying for this card, I’d recommend doing so in the coming days. Do keep in mind, however, that the “5/24 rule” applies to the card, meaning those who have opened five or more new card accounts in the past 24 months generally won’t be eligible for the offer.
What does this mean for the Chase Sapphire Preferred?
The number of Chase Sapphire Reserve applications has apparently greatly exceeded Chase’s expectations, and I have to wonder how much it has impacted applications for the Chase Sapphire Preferred.
The Chase Sapphire Preferred® Card is continuing to offer a sign-up bonus of 50,000 Ultimate Rewards points after spending $4,000 within three months, plus an additional 5,000 Ultimate Rewards points when you add an authorized user to the card that makes a purchase within three months.
With the 100,000 point sign-up bonus on the Reserve, I think a lot of people applied who may not otherwise consider a $450 per year card, given how compelling the benefits are.
However, given that the Preferred and Reserve will soon have the same sign-up bonus, I wonder how it will impact which card people apply for.
The Chase Sapphire Preferred is also extremely compelling, and I’d argue it’s the single most lucrative mid-range credit card. It offers double points on dining and travel, no foreign transaction fees, a compelling rewards structure, great travel and car rental protection, etc.
Redeem your Ultimate Rewards points for Korean Air first class
No Changes to the Ink Preferred bonus for now
Chase has introduced a new business card in the past couple of months as well. Specifically, I’m talking about the Ink Business Preferred℠ Credit Card, which is a $95 annual fee card offering a sign-up bonus of 80,000 Ultimate Rewards points after spending $5,000 within three months.
The card offers triple points on travel, shipping purchases, internet, cable and phone services, and advertising purchases made with social media sites and search engines. On top of that, the card offers some really unique purchase protection, in particular on cell phones.
Redeem your Ultimate Rewards points for a stay at the Park Hyatt Sydney
One other 100K sign-up bonus ends in a few weeks
The other card offering a sign-up bonus of up to 100,000 points at the moment is The Enhanced Business Platinum® Card from American Express OPEN, and that sign-up bonus ends on January 25, 2017.
The card’s great perks include a $200 annual airline fee credit, access to Boingo hotspots, 10 Gogo passes, access to American Express Fine Hotels & Resorts, access to Delta SkyClubs, a Priority Pass Select membership, access to Amex Centurion Lounge, a Global Entry fee credit, Gold elite status in Hilton HHonors and Starwood Preferred Guest/Marriott Rewards, a 50% refund when you redeem your points using the “Pay With Points” feature, and much more.
So this is another card you can consider if you’re looking for a big bonus but aren’t eligible for the Reserve.
Redeem your Membership Rewards points for Singapore Airlines Suites Class
If you’ve been eying the Chase Sapphire Reserve Card, this is your last chance to apply online with the 100K bonus. However, if you’re not able to get in on the offer in time, there are other great cards with sign-up bonuses that don’t seem to be changing soon, including on the Chase Sapphire Preferred® Card and Ink Business Preferred℠ Credit Card.
Do you plan on applying for the Chase Sapphire Reserve before the 100K point bonus is pulled?