Link: Apply now for the Chase Sapphire Preferred® Card
The Chase Sapphire Preferred® Card is regarded as one of the most lucrative credit cards out there. The card has a reasonable annual fee, and offers strong perks. If you’ve been considering applying for this card, we’ve just seen an improved welcome offer rolled out, making it a great time to apply.
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Chase Sapphire Preferred 75K points welcome offer
The Chase Sapphire Preferred has a new welcome offer where you can earn 75,000 bonus Ultimate Rewards points after spending $5,000 within the first three months. This bonus is 25% better than before, as the card previously offered a bonus of 60,000 points.
Personally, I value Ultimate Rewards points at 1.7 cents each, so to me, the 75,000 bonus points are worth $1,275.
Who is eligible for the Chase Sapphire Preferred bonus?
When it comes to eligibility for the Chase Sapphire Preferred, here’s the official language in the application:
This credit card is unavailable to you if you currently have one open. The new cardmember bonus may not be available to you if you currently have any other personal Sapphire cards open, previously held this card or received a new cardmember bonus for this card. We may also consider the number of cards you have opened and closed, as well as other factors in determining your bonus eligibility.
Chase has recently updated its rules when it comes to getting approved for Sapphire cards. As you can see:
- The welcome offer may not be available to you if you’ve received a new bonus on this exact card, or if you currently have any Chase Sapphire personal card
- You should be eligible for the welcome offer if you haven’t had the Chase Sapphire Preferred before, though it may be possible to get the bonus if you’ve just had the Chase Sapphire Reserve® Card (review) before
- Chase now has a pop-up feature when applying for cards, so if you’re not eligible for the welcome bonus, you should receive a message telling you so (before there’s any sort of hard or soft credit pull)
Note that these restrictions are based on whether you’re the primary cardmember on one of these cards — if you’re currently an authorized user (or have been one in the past), you’d be eligible. Also keep in mind the general rules of applying for Chase cards, including the 5/24 rule (though there are increasingly reports of people being approved in spite of being over the 5/24 limit).
Why the Chase Sapphire Preferred is worth it
The $95 annual fee Chase Sapphire Preferred is one of the most well-rounded mid-range cards out there. The card has the following perks, among other things:
- The Sapphire Preferred has an amazing rewards structure — earn 5x points on travel booked through the Chase Travel Portal, 3x points on dining, streaming services, and online grocery store purchases (excluding Target, Walmart, and wholesale clubs), 2x points on travel purchases, and 1x points on all other purchases, plus 10% anniversary bonus points
- The Sapphire Preferred has great travel protection, including for delayed flights, lost bags, rental cars, and more
- The Sapphire Preferred acts as a good “hub” card for Chase Ultimate Rewards, and lets you maximize the other cards in the portfolio
- The Sapphire Preferred offers flexible points that can be transferred to a Chase Ultimate Rewards airline or hotel partner, or can be used with the Chase Points Boost feature, offering increased redemption value
- The Sapphire Preferred offers a $50 hotel credit every cardmember year, usable through the Chase Travel Portal
Read a full review of the Chase Sapphire Preferred here.
Bottom line
The Chase Sapphire Preferred is offering an improved welcome bonus of 75,000 Ultimate Rewards upon completing minimum spending. This is an excellent bonus, and it’s 20% bigger than before. In my opinion, this is one of the most well-rounded mid-range credit cards out there, so if you’re eligible and are interested, this could be a good time to apply.
Do you plan on picking up the Chase Sapphire Preferred with 75K bonus points?
The previous bonus points of 60k was better because it was before the terms changed and that is the reason they are doing this is to offset the change in the terms so many people that are currently some sort of "sapphire" cardmember will not qualify. It looks more than it is.
How is this improved? We are just coming off a 100k points offer just a couple of weeks ago.
Sapphire Preferred is week sauce. Citi Strata Premier or Wells Fargo Autograph Journey are much better than the Sapphire Preferred.
Any insight on whether CSP will also move to 2X on "direct travel airline / hotel" bookings only, similar to CSR revamp? So no cruises, no transit, no group trips etc...
@ gideyup11 -- Nothing has been announced yet on that front. It's certainly possible we see a refresh at some point, but I haven't even heard any rumors, so it's anyone's guess.
For what it's worth, Chase's email announcing points boost on the CSP pointed out that there were no other changes to the card at this time. Same earning rates and annual fee. So I definitely don't think any change is imminent.
This is 100% speculation, but I don't think Chase would roll out a 100k point signup bonus like they did a couple months back and then announce a refresh later. My gut feeling is that Chase is happy with the CSP's performance and occasionally see new signups dip below target and only feel the need to offer enhanced signup bonuses to bring it back on track.