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Chase has increased the initial offer for the Chase Sapphire Preferred® Card to 100,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. This is one of the best card deals I’ve ever seen.
- It’s a 100,000 point bonus offer
- These are some of the most valuable points (along with American Express Membership Rewards)
- They can be used to buy travel directly, or to offset spending with Chase’s “Pay Yourself Back” at 1.25 cents apiece – so worth a minimum of $1250
- Or they can be transferred to airline miles (such as United, Southwest, Singapore, Air France) or hotel points (Hyatt, Marriott, IHG).
So how do you know if you are eligible for this card, and to earn its bonus? Here are the key considerations:
- You cannot be a current Sapphire cardmember – not only can’t you have a current Chase Sapphire Preferred® Card you also cannot have another Sapphire card open either.
- It needs to be at least 48 months since you last earned a bonus from a Sapphire card. If, for instance, you earned a 100,000 point bonus for a Sapphire Reserve card when it first came out and don’t have a Sapphire card any longer you’d qualify under this standard.
- You need to be under 5/24. Chase generally won’t approve new cardmembers who have had five or more new card accounts opened in the past 24 months. Generally speaking only cards that appear on your personal credit report count towards this total, so many small business cards do not get included in your ‘5/24’ total.
Meeting these rules mean you’re eligible to have your application considered. They don’t guarantee approval of course, that depends on income, credit score, and other factors. But anecdotally the Chase Sapphire Preferred® Card has appeared to be easier to get approved for than many other rewards cards, especially compared to Sapphire Reserve. (Among other reasons the Preferred a Visa Signature rather than Reserve’s Visa Infinite.)
CitiBusiness® / AAdvantage® Platinum Select® Mastercard® Earn 65,000 AAdvantage miles.