The standard bonus for the Chase Sapphire Preferred Card is 55,000 Ultimate Rewards for spending $4,000 on the card within three months of account opening (+adding an authorized user). With that offer, the $95 annual fee is waive for the first year of cardmembership
There is a new offer out for Sapphire Preferred: 65,000 Ultimate Rewards for spending the same $4,000 within three months of account opening (+adding an authorized user). But this offer does not waive the $95 annual fee.
We do get commissions when you sign up for some card offers, but not this 60k offer for the Sapphire Preferred. We just want you to be aware of the best deals.
This offer is not available just anywhere. Personally I can’t find it by typing in “Chase Sapphire Preferred Card” into Google, nor if I Google search in an incognito window, nor after clearing my browser’s cache. Perhaps Chase is A/B testing the 50k/no annual fee and 60k/with annual fee to see which brings in more customers.
The rest of the new offer is the same as always…
- Category Bonuses: 2x on travel and restaurants
- Value of Ultimate Rewards: Worth 1.25 cents toward the purchase of any cash ticket OR can be transferred to various airlines and hotels for higher value redemptions
- Global Acceptance: Chip technology and no foreign transaction fees
- Annual Fee: $0 for the first 12 months, $95 per year afterwards
Which deal is better?
Depending on how averse you are annual fees, the 60k offer without the waived annual fee is the better the deal. I value Ultimate Rewards (when transferred to partner airlines to redeem on awards for outsized value) at 2 cents each, making the 10,000 extra bonus points worth $200. The annual fee is just $95. Even if you didn’t redeem the Ultimate Reward points this way and instead redeemed them through the Chase portal on cash flights, for 1.25 cents each, 10,000 x .0125 = $125, which is greater than $95.
Reminders about Eligibility
Chase has lots of rules regarding sign up bonus eligibility.
- If you have 5+ new credit card accounts with any bank (not counting many business cards) in the last 24 months, you will be denied most Chase personal and business credit cards (with the exception of these cards). However if you were targeted for a Chase offer, you can still be approved even if you have 5+ new credit cards in the last 24 months.
- Specific rule for the Sapphire branded cards (i.e. the Sapphire, Sapphire Preferred, and Sapphire Reserve): New applicants will not be approved for another credit card in the Sapphire family if they already have one open. In other words, if you currently hold a Sapphire card, you’re not eligible for a Sapphire Preferred nor a Sapphire Reserve. If you currently hold a Sapphire Preferred, you’re not eligible for a Sapphire Reserve. If you currently hold a Sapphire Reserve, you’re not eligible for a Sapphire Preferred.
- You can only get the bonus on the same Chase card once every 24 months. This 24 month clock starts when you got the last bonus (which may be several months after you got the card).
- You probably shouldn’t apply for more than two cards in a 30 day period. Chase is known for denying people who apply for more than that. That being said, I know people who have been approved for two personal and one business card from Chase on their first ever credit card applications. It is likely however that for any applications past the second in a 30 day period, you’ll have to make a reconsideration call for a pending application response if you want it approved. Reconsideration calls with Chase aren’t known for going as smoothly as they often do with other banks.
Sooo Many Sign Up Bonuses (!)
I know there have been a lot of posts about new, elevated bonus offers lately. It’s that time of year. In the last month we’ve seen new, higher (and in some cases, limited time) offers spring up on the…
- Citi ThankYou Premier Card (50k ThankYou Points)
- Starwood Preferred Guest Business Card from American Express (35k SPG Points)
- Gold & Platinum Delta SkyMiles Amex Cards (60k and 70k Delta miles)
- American Express Platinum Card (100k Membership Rewards)
- United MileagePlus Explorer Card (50k United miles)
And that’s not all, folks. Expect more from me soon on the new offers for the Avianca Vuela (60k LifeMiles miles) and Avianca Vida (40k LifeMiles).
Want insight as to which of these offers, if any, suit you and your travel goals? I offer Free Credit Card Consultations for that very purpose. I will start with your goal trip and work backwards, determining the best miles and points for that trip, and then the best cards to get those miles and points. Start by filling out this form.
There’s a new sign up bonus offer out for the Chase Sapphire Preferred. Spend $4,000 on the card within three months of opening it and you’ll get 60,000 bonus Ultimate Rewards instead of the standard 50,000. There is a price to pay for the extra 10,000 Ultimate Rewards, though. The standard offer waives the $95 annual fee the first year, while this 60k offer does not. No matter which way you cut it, 10,000 Ultimate Rewards are more valuable than $95, so I think the 60k offer is superior. However, if you’re extremely annual fee averse, the 50k Ultimate Rewards and no annual fee the first year offer is still available.
Hat tip Doctor of Credit