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Final Reminder: Last Day To Apply For The Chase Sapphire Preferred 53,500 Sign-Up Bonus

by on April 2, 2012 · 46 comments

in Amazing Deal Alerts, Chase, Credit Cards

Update: The Chase Sapphire Preferred® Card sign-up bonus offer is now 40,000 points when you spend $3,000 in the first 3 months.

I wrote about it at the end of last week, but this is a final reminder that the Sapphire Preferred 50,000 point sign-up bonus will be ending tomorrow, Tuesday, April 3, 2012 at 10am EST, so if you were waiting to get this card, you should do it today. Chase currently only offers 40,000 points for signing up, so getting in on an affiliate links (like mine) is currently the best deal on the market. It is possible the bonus could go back to 50,000 or higher in the future, but I personally feel good getting it at 50,000 (actually 53,500 once you factor in the annual 7% annual dividend).

As you might have read yesterday’s Sunday Reader Question about how to keep earning and maximizing your points beyond sign-up bonuses, if you want a sustainable long-term points strategy, you need to get the best cards that provide you with the most return on your spending, and the Sapphire Preferred is definitely one of them, especially if you amplify its benefits and earning potential with the Ink Bold and Freedom cards and a Chase checking account, as I talked about in my other post today.

Just as a reminder of the key benefits of this card and Ultimate Rewards that I love:

Key Benefits:
- Ultimate Rewards points can be transferred (usually instantly) at a 1:1 ratio to United (Star Alliance), British Airways (Oneworld), Korean Air (Skyteam), Southwest, Hyatt, Marriott and Ritz-Carlton, Priority Club (Intercontinental, Holiday Inn, Crowne Plaza) and Amtrak. Tip: you can even transfer these points to other people – names do not have to match accounts.
- If you want to use points for any flight, they are worth 1.25 cents each. So the 50,000 sign-up bonus would equate to $625 in credit to be used on any trip and you earn miles on flights redeemed using this method.
- No foreign transaction fees. Check out this post to find out why foreign transaction fees are bad.
- You earn a 7% annual dividend on points earned in a year. So if you spend $30,000 on the card in a given year, Chase will give you an extra 2,100 points. You do get the 7% bonus on the 50,000 point sign-up bonus, so it’s basically a 53,500 point sign-up bonus.
- 24/7 Customer service – your phone calls are always answered by a human based in the US.
- 2 points per dollar for travel expenses charged on the card and up to 10 points per dollar on purchases through the Ultimate Rewards Mall.

Related posts:
Amazing Deal Alert: 50,000 Points for Chase Sapphire Preferred
Why I Love Ultimate Rewards
My Experience Getting Approved for the Sapphire Preferred

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author.s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through the credit card issuer Affiliate Program.

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  • David

    As I saw pointed out somewhere else, it’s actually a 56,710 point bonus because of the required minimum spend. Even better!

  • thepointsguy

    I don’t include minimum spend in my bonus calculation, because those are points earned, not given for the sign-up. But either way, it’s a great deal and I’m sad to see it go!

  • Andre LaPlume

    As a follow up to my note last week about Chase saying they’d mail their response, and what that meant regarding approval, on Saturday my wife got her new Chase card.

  • thepointsguy

    Nice! No reconsideration call needed?

  • http://www.facebook.com/gtthomas4 Grant Thomas

    I have a quick question, if I currently have a Chase Sapphire card, can I call also sign up for the preferred card? Does anyone have any experience doing this? Thanks.
    -Grant

  • Andre LaPlume

    None. I was getting ready to rehearse her in what to say too…

  • thepointsguy

    They won’t give you the 50k sign-up bonus if you upgrade. In fact you may even get denied applying for the Preferred card, but I’d just ask them to reconsider and if you get approved hopefully you get the bonus. Some people have been told no 50k bonus if you already have the regular Sapphire card, but it’s a little unclear. Would love for others to chime in.

  • TravAdam

    TPG, is the travel bonus (points redeemed for any flight) 25% as you state, or 20% that the ad states? I looked at my UR account and it says that it would be 20%. Do you know when that changed or why? Seems like it was a very quiet change.

  • http://www.facebook.com/gtthomas4 Grant Thomas

    I just gave them a call and was not able to upgrade my account because I opened the card in Oct. 2011. The rep said I could open a new Chase Sapphire Preferred card, but would not be eligible for the sign up bonus :(

  • thepointsguy

    For reasons unknown to me, both Chase and Amex market it as “20% fewer points” or a “20% rebate back in points”.

    A 20% rebate is the same thing as a 25% bonus. 100,000 points used would be $1,000 and a 20% rebate means only 80,000 points used for $1,000 in travel. 80,000 points with a 25% bonus = $1,000.

    I prefer to just think of it as 1.25 cents a point in value instead of a rebate.

  • CuseGuy07

    I had the regular Sapphire card (got it summer 2011), and got the 50k bonus for it. As I did more research, I found out about the Preferred version and applied for that in December 2011. I was initially denied, but called the reconsideration line and was approved pretty quickly. I fulfilled the 3k spending, and got the 50k bonus last month on my statement.

    So yes, it is possible to get both cards. I’ll probably be cancelling the regular Sapphire to get the Freedom soon in order to get the Chase Exclusives benefits.

  • loverofpeace

    For those that weren’t instantly approved, when are you calling the reconsideration line – the same day or is it better to wait for the letter in the mail before giving them a call?

  • ytrewq

    What’s the success rate when applying for two Chase cards at the same time?
    I am considering personal applications for a Chase Sapphire Preferred and aUnited Explorer Card.
    Alternatively a personal application of the Chase Sapphire Preferred card and Ink via my business.
    Would either one have greater success?

  • Nick

    I applied and got pending status… called 888-245-0625 number and she basically said something along the lines of this request is in pending status which means the status is locked and I would get a response in 10 days (which is probably a “no”). Didn’t seem to really be a forum for a discussion of the merits of my application.

  • thepointsguy

    Id give it a day and call back

  • Jbennoll

    I was just approved for a Chase Sapphire Preferred card, but learned today that the 50,000 mile offer ended “some time ago” according to a Chase representative.

  • arglebargle

    I got “pending” when applying for the Ink Bold in December. They ultimately approved it, but they never actually TOLD me…I got a clue something might have happened when I saw a new pull from them on my credit report. The new card just arrived in the mail suddenly a bit after that.

  • arglebargle

    Oh, and I never called reconsideration or anything to check. Just thought I’d make that clear.

  • PJ

    a friend of mine got BOTH sign on bonus and his wife was also later targeted for 50K with a single purchase MANY HAPPY RETURNS

  • thepointsguy

    If you apply via my link today or before you will get 50k. The rep was probably just looking up the public offer in her system which is indeed 40k

  • Balage

    cc promo again
    good old days… when the point collecting wasnt equal credit card “hacking”

  • Bohemiana

    I think you may have answered this question in other blogs but I have a Sapphire Preferred card (got it last July) and my husband is an additional cardholder. Can he apply to get his own account and get the bonus? (I put him on as a cardholder before I knew never to do this. This card was the first in my bonus bonanza last year.)

  • Sean

    So I applied today and got a pending status. Called the reconsideration line this evening, was given a reference number and asked to call back in “a day or two” while the application undergoes further review. Wasn’t given an opportunity really to ask for credit lines to be moved around, etc. What’s my next move? Do I call back later tonight? Don’t want to miss out on the 50k bonus if possible. (Background: I have 1 Chase card — United Explorer Visa — got it roughly 60 days ago).

  • thepointsguy

    As long as you applied today, you are fine. I’d call tomorrow or Wednesday but I don’t think they can do anything if its been passed for further review.

  • thepointsguy

    Yes- he can get his own and will be eligible for the 50k bonus.

  • loverofpeace

    Just wait, if you used the 50k link and are eventually approved you’ll get your 50k.

  • thepointsguy

    All depends on your credit and current relationship with Chase. If both are good, its possible to get approved for two- you’ll just have to call and nudge them a little and explain why you’d need two.

  • Bohemiana

    He just applied but got a message that said “you will receive a response in 10 days.” Is that a rejection?

    He input only his income (which isn’t much) rather than our household income, which is high. He applied and got Chase Southwest Rapid Rewards without a problem last year but we can’t remember if it was an automatic approval or not.

  • Jeffrey930

    My wife has sapphire regular since 2001…applied for sapphire preferred December 2011 and was approved also got the 50k bonus. Now she two sapphire regular and preferred.

  • Nkvarde

    I got denied initially and used the reconsideration line, and everything went through- thanks for the tip!

  • IH

    I was initially denied for the CSP card as well. I called the reconsideration line two days after but the rep said that it was under review and to call back in a week. 2 or maybe three days later, I log in to my Chase account – to check activity for my Continental OnePassPlus MC – and voila, I had the CSP account info posted. I received the card 3 business days later.

  • beachbumfl

    I just received my Sapphire Preferred card today. I already had the regular Sapphire card (for a few years) and figured I would try for the Preferred before the 50,000 deal expired. The only thing was that they called me a few days ago and asked if I would be willing to transfer some of the credit limit from one of my other two Chase cards (I had $20,000 on the regular Sapphire and $20,000 on the British Airways). So I told them to take $10,000 from the regular Sapphire and they said that would work. I called today and confirmed that I had $10,000 on my new card, along with the 50,000 point for $3,000 90 day spend. Thanks, pointsguy, for a great site.

  • David Yong

    Hi,

    Do you know if non-US citizens are eligible to apply for this card? Would be open to depositing some money with the bank in order to assure them that I’m not a credit risk, if necessary.

  • thepointsguy

    You dont need to be a US citizen but you do need a US Social Security Number and address

  • PJ

    wowwwwwww !! a new United Explorer with 50K from Chase coming to my wife 3rd card in our family. Basically, if you login your active mileageplus account ( active means non zero balance) at http://www.united.com and click on the link for 60K ( 50K with 1st purchase 10K more for additional 10K (?) Spend) mostly likely you will get it assuming you have not been getting too many new cards from Chase

  • David Yong

    hmm ok so there is no way I can get around that requirement? not even if I deposit an amount of money with a chase bank account?

  • Jim

    Just means the next good offer is around the corner!!!

  • ballardFlyer

    Thanks TPG – I just applied and got the 50K with 11 minutes to spare. Checked the offer after 10 am EST and it is dead – they don’t lie

  • Greg

    Signed up for the CSP cc through your link a couple of months ago and the card has been great. If I open a Ink cc can I combine the points?

  • thepointsguy

    Yep!

  • santafefran

    Thanks for the reminder TPG. I applied last night, got the message my app was pending. Fortuitously, my Mileage Plus United card with Chase was due for renewal this month so when I agreed to cancel it, the Sapphire Preferred was approved. High five!

  • Jimmycopp

    Just got a notice of 50% purchase bonus for United Explorer CC (3/28-5/28) is this normal? Or a good sign of things to come from chase….do they do this for sapphire?

  • Mark The Shark

    Do the bonus points arrive when you reach the spending threshold or do you need to wait until the statement is issued? If you need to wait until the statement is issued, if you pay the balance right away, will they give you your bonus points right away? I need these bonus points ASAP. Thanks!

  • thepointsguy

    When the statement closes after you reach the spend requirement. In my opinion chase is among the fastest to award signup bonuses

  • Mark the Shark

    AMEX has given me their bonus miles before the statement closes. I just applied for the Chase Ink Bold and hit the $5,000 spend, but the statement won’t close for another 3 weeks. Should I ask them to give me the 60k bonus offer now (which just came out, as I applied when it was 50k) or wait until the statement closes?

  • Sean

    As a follow up, I was going to call the reconsideration card tonight, but when I logged on to my Chase account, the Sapphire Preferred account was listed! Success!!

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