Update: Dead
Apply for the Chase Sapphire Preferred
The Chase Sapphire Preferred is out with a massive 100,000 point sign up bonus which is now available online.
The Chase Sapphire Preferred (full review) is one of the first cards I recommend as someone’s first travel card. It's low annual fee coupled with a great signup bonus and bonus categories make this card a winner.
The new offer is for the a whopping 100,000 points after spending $5,000 in the first 3 months. I value Chase points at 1.7 cents each so the 100,000 points is worth $1,700.
New Chase Sapphire Preferred Sign Up Bonus
Who is Eligible
Chase has some specific restrictions on who is eligible for this card.
You are eligible if:
You currently have either the Chase Sapphire Preferred or the Chase Sapphire Reserve
You are a previous cardholder of either the Sapphire Preferred or the Sapphire Reserve.
You have not opened 5 new cards (regardless of issuer) in the last 24 months. There are reports that they are more lenient with this in the past. This is called Chase’s 5/24 rule.
You have good credit. The average credit score for this card is reported to be at 740.
What if You are a Current Cardholder
There is an easy(ish) way around the rule where you won’t be approved if you are a current card holder. You’ll need to downgrade your current Sapphire card to one of their no annual fee cards like the Chase Freedom Flex or the Chase Freedom Unlimited. After at least 4 days you won’t be considered a current Sapphire cardholder and can apply for the Sapphire Preferred again. I actually had my mom do this last year after convincing her that the Sapphire Reserve was not the right card for her! For most people the Sapphire Preferred makes more sense than the Sapphire Reserve.
Quick Facts
Signup Bonus: 100,000 Chase Ultimate Rewards Points after spending $5,000 in 3 months.
Points Earned: Chase Ultimate Rewards which you can use for 1.25 cents each toward travel or you can transfer them on a 1:1 basis to their 13 airline and hotel partners. I value Chase points at 1.7 cents per point.
Earnings Structure:
5x points on travel booked through the Chase Travel Portal.
5x points on Lyft rides.
3x points on dining.
3x points on online grocery stores
3x points on select streaming platforms
2x points on travel
Foreign Transaction Fees: None
Annual Fee: $95
Is it Worth It?
Absolutely. This is the best offer we’ve seen on this card in a long time. Earning 100,000 points on an amazing travel card with only a $95 annual fee is a steal.
