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Update: This offer is no longer available. View the current offer for the Chase Southwest Rapid Rewards credit card here.
Update: The Chase Sapphire Preferred® Card sign-up bonus offer is now reduced to 40,000 points when you spend $3,000 in the first 3 months.
All good deals must come to an end, which we saw on Sunday with the Chase 50,000 mile Southwest Premier card. Chase has now relaunched the card with a slightly lower annual fee ($69 vs. $99) and halved the sign-up bonus to 25,000 points (application link), which is still $416 towards Wanna Get Away fares. You also receive 3,000 in bonus points each year you renew, which is $50 towards Wanna Get Away fares.
This isn’t a bad deal, but there have been reports of people still getting targeted for the 50,000 offer, so if you can wait, it may make sense to apply for the best Chase bonuses like the 50,000 point Sapphire Preferred (I outlined my strategy with Chase offers here), because I’m not sure how much longer the 50k bonus on the Sapphire Preferred will last and I would bet on it going back down to 25,000 or less over it being increased (though that would be nice!).