The Chase Sapphire Preferred Card Spending Requirement Decreases!

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As I mentioned last week, the Chase Sapphire Preferred offer was to get updated a bit today. I encouraged folks to just hold their course and not rush to apply just because something might be changing today. The sign-up bonus already dropped earlier this year, so I didn’t believe that would be happening again right now. Thankfully that hunch was correct that the sign-up bonus held steady at 40,000 Ultimate Reward points that can transfer 1:1 to Hyatt, United, British Airways, Priority Club, Marriott, and more. However, the good news is that the amount required to trigger the 40,000 point sign-up bonus dropped from $3,000 in the first three months to $2,000 in the first three months.  This puts it in line with the spending requirement on the American Express Premier Rewards Gold Card.

Application Link: Chase Sapphire Preferred

That is really good news given that we are typically seeing spending requirements increase as opposed to decrease. It may not be a huge difference, but every little bit can help when you are trying to maximize the number of miles and points you earn for every dollar you spend!

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Comments

  1. Great news!

    I am planning to go for the Chase trifecta.
    1) Do you happen to know whether it counts as 2 hard pulls if I apply for the Chase Sapphire Preferred and Chase Freedom at the same time?
    2) Is it advisable to apply for both at the same time?
    3) The current Chase Freedom bonus is for 10,000 points. Is there any point to waiting for a certain time of year to get the Chase Freedom (e.g. like the SPG Amex) or can I just go ahead and get it as soon as I can?

  2. @ RR
    1) It depends how soon between applications. If its the same time then 1 pull. I got two chase cards within 2 weeks; 1 pull.
    2) You will have to call in to get reconsidered and explain why.
    3) I saw some places with higher sign up, but then you had to pay someone to send you the link … but I dont remember where I saw that

  3. My husband received 30,000 UR points for the Chase Freedom card on April 4th when someone posted a wild link to the offer on Flyertalk, but Chase pulled the offer the same day. I do not know if there is a pattern in bonuses for the Freedom card, but 10,000 bonus points sounds low to me.

    If you apply for two Chase cards on the same day, the second one is automatically declined, but a call to the Chase reconsideration line can often get the second card approved.

  4. “that hunch was correct”
    why do I get the feeling that it is more than a hunch. Deals we like and you probably had inside info, but you had to remain silent due to contractual obligations.

    I really appreciate the twitter comments stating not to worry about the changes. That was nice of you two.

  5. @Vince @Heather

    Thanks.

    Would you happen to know if the Chase Freedom comes in both Visa and MC flavors? If so, could I argue that I’d like an MC card (all my other cards are Visa) because I do have a couple of merchants who don’t accept Visa but do accept MC?

  6. @RR, it may go through as one pull, or it may not. There is no guarantee especially since you won’t get an instant approval on the second app. They may then pull your credit again later on another day. So, it may work that way, but it may very well not. The Freedom bonus isn’t exciting, but there also isn’t any history to point to on when it might increase. The quarterly category bonuses are awesome, so you are missing out on potentially 7,500 bonus points every quarter you don’t have it. I actually signed up for no bonus by converting another old Chase rewards card to the Freedom.
    @Vince, thanks for the info. I hadn’t heard about paying someone for a link. How interesting.
    @Heather, everyone that got in on that 30K deal really lucked out! I got my mom in on 20K and was happy even with that. Well done!
    @Rasputin, sometimes we are given hints. Sometimes we are given facts we can share. Sometimes we have to read between the lines and make an educated guess. I will always do my best to figure out which direction changes are heading and will share as much of that guess as I am allowed. I know that many other bloggers do the same. We really do want to make sure that our readers get the best deal they possibly can. That said, I’m sure our best guesses won’t always be right. Fortunately this time we were on the right path.
    @RR, it does come in both flavors and sounds like a good reason to me!

  7. MP: do you have a link to the SP Mastercard with the 40k bonus? We have plenty of Visa Signature cards, and would prefer a MC for several reasons.

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