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New Lower Chase Sapphire Preferred Spending Requirement – Now $2,000 in 3 Months

by on August 20, 2012 · 47 comments

in Chase, Credit Cards, Sapphire Preferred

Update: Deal ended Wednesday August 22, 2012 at 3pm.

As I wrote on Friday, Chase has made a change to its Sapphire Preferred offer, and as I predicted, it’s for the better. The spending requirement in order to earn the entire 40,000 point sign-up bonus has been reduced from $3,000 in three months to $2,000 in three months, which should make it easier for more points-savvy consumers to get in on this card. Note: If you’ve gotten this card recently, you may want to ask Chase if you can get the lower spend requirement- they will often match current promotions if you’ve applied within the past ~60 days. The Chase Sapphire Preferred is one of my favorite travel credit cards because several key benefits including: -You can transfer Chase Ultimate Rewards points to a variety of partners United (Star Alliance), British Airways (Oneworld), Korean Air (SkyTeam) and Southwest, Hyatt, Marriott, Ritz-Carlton, Priority Club and Amtrak. Check out this post for more info on why I love Ultimate Rewards. -You earn a 7% annual dividend on all the points you accrue every year, regardless of if you’ve transferred or redeemed any of them in the meantime (note: this dividend no longer includes the 40,000-point sign-up bonus) -2x category spending bonuses on dining (from ballpark franks to 3-star Michelin restaurants) and travel (including taxis, parking, flights, hotels and even subways) -No foreign transaction fees -$95 annual fee waived for the first year This just makes getting it even easier – which is a nice change from the current trend of steadily higher sign-up spending requirements. Chase makes it possible to rack up tons of bonus points by using the Sapphire Preferred in combination with the Freedom and Ink Bold / Plus cards and a Chase checking account through Chase Exclusives. While this isn’t an earth shattering change to the offer, it’s definitely a positive change.  I would have liked to see the sign-up bonus increase, but I don’t think that’s going to happen anytime soon- especially since it’s major competitor the American Express Premier Rewards Gold card, has a 25,000 point sign-up bonus.

 

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  • Ted

    Disappointing as a current card holder. Was hoping for an EMV chip to be added

  • Gretchen

    I applied for the card and got approved last week. I have not received it yet. Will I qualify for the lower spending requirement ?

  • meniopia

    Interesting. My father actually signed up for this card through our banker two weeks ago, and it was already $2000 spending requirement with 40,000 sign-up bonus. I guess they already lowered the spending requirements in their branches but not online sign-up.

  • thepointsguy

    I’d call them and ask. They will often match promotions if you’ve applied within the last ~60 days.

  • thepointsguy

    Would love a chip for my Sapphire Preferred card since I use it abroad extensively. Maybe its an issue because the card is so thick?

  • Dmckenzie02

    Now if they would add US Airways as an airline partner….that would be another great enhancement..

  • Brian

    Very disappointing. I too was hoping for the chip. Yes, the card is thick, but they’ll do one-off plastic cards if customers request them, and I can’t see why they couldn’t do that with chip requests as well.

  • thepointsguy

    The more the merrier but I think united more than does the trick as a star alliance transfer partner

  • Bill

    I inquired, to see if they would honor the 2K spend vs the 3k spend on my newly acquired card. No go, denied.

  • Drwei

    My first post disappered!

    Thank you for all the great information.

    My question is if this change would make it a “new product”? I got the card a month ago with the 3k spending requirement. Cant I get my points, cancel in 9 month, and reapply? Or do the changes have to be more significant?

    Thank you!

  • Mike

    Isn’t it exactly the same thickness as a regular credit card? It’s heavier, but that’s because it has a metal core.

  • Gretchen

    I called and the agent said she was sending a request to the marketing dept. asking for the $2,000 spending requirement. I will receive a letter with an answer in a week or so. Fingers crossed.

  • Wjluong

    Was hoping for either the EMV chip or the bonus points to be upped. A little disappointing but still an awesome rewards card.

  • Wjluong

    Do you think they’ll lower the Ink Bold Plus spend requirement at some point TPG?

  • Marcus

    Agreed. One-way bookings are a benefit and the online booking system is so easy.

  • Jeremy

    I just did the same thing (applied last week and just got my card today) and got the same response…7 to 10 days for a reply.

    Also, is it me or does the card look different. The only thing in the front of the card is the logo on the upper left and my name on the bottom. The card numbers are on the back. Strange, but I think I like it.

  • lovepoints

    I agree – I totally want the EMV chip. This is my # 1 go to card while traveling internationally – come on Chase :)

  • pphoenixx

    If you already have the Chase Sapphire Preferred, wouldn’t it make more sense to get the Ink Classic card instead of the Ink Bold to avoid the extra annual fee, at least after the free year is up for the Bold given that one would apply for that one first because of the higher sign up bonus. Other than the higher spend caps on the categories what would make the Ink Bold worth the extra annual fee over the Ink Classic when you have the Sapphire.

  • thepointsguy

    Correct- I’d keep the Ink Classic longterm vs Bold. However, the extra 25k Ultimate Rewards points is worth at least $500 to me, so I’d snag that bonus before Classic.

  • thepointsguy

    I haven’t heard anything along those lines, but you never know. My gut is that it probably won’t change anytime soon, but I’ve been wrong before.

  • thepointsguy

    Great point.. its loaded in the system as a new product on the affiliate side of things, but I’m not 100% sure how Chase will treat it. Guess we will have to wait and see if any current Sapphire Preferred cardholders apply and get approved. Please share your experience if you go that route.

  • Brian

    FWIW – I emailed the CEO’s office, asking that they consider enhancing this card with a chip. I suggest others do the same so we get their attention.

  • Ramaterials

    Honestly, I was hoping for some type of lounge access or affliate loung access like the united Lounge. Though the united lounge is with the united card; If Chase is really wanting to strike at the Gold Card crowd, what better way than to provide some type of benefit that is reserved for the platinum but at a lower cost. That or the EMV chip since it does have no forex fees

  • Mark

    I am loyal to Delta, Hilton and Hertz, is there a good reason to get this card for the bonus points still? It seems like they would be difficult for me to use (no United or Southwest service at my home airport). Are UR points good for anything else besides travel? I guess I could go for a one-off stay at a Marriott/Ritz to use up the bonus points but I still have spend thresholds to meet for my Amex Plat (for bonus MR) and Delta Reserve (for MQM) cards for this year.

  • ART S.

    You could use the points to buy your Delta Flights and still get MQMs. That or you could subsidize your flight and get 3x (2 for flights and 1 for booking on Ultimate Rewards). I used to think TPG was blowing smoke, but I can’t see why one would not pair the Freedom + Sapphire Pref.

  • Mark

    So UR points work like Capital One Venture Rewards where you can redeem them for travel at $.01 per point or something like that in addition to the 1:1 transfers to other programs?

  • ART S.

    Correct, but I think its more like .012 with the 20% discount. However, I prefer to save these for Int’l B-Class and up flights (via 1:1 transfer). But if you were looking to earn MQMs, use points, and stay loyal to Delta – you could go that route.

  • Brian L.

    The problem with that is if they added lounge access, the annual fee would go up, probably by quite a bit. Part of the reason the AmEx Platinum, UA Club, DL Reserve, and AA Executive card have annual fees as high as they do is to pay the airlines for access to the lounges.

  • Lahaina12

    I’d appreciate some advice. I have both the Sapphire Preferred and Ink Bold cards. After the annual fee-free year is up, would it make more sense for me to keep only the Ink Bold and close the Chase Sapphire Preferred card (because of the 5x office supply category)?

  • http://twitter.com/Flyinace2000 William J Sisti

    Can you provide the contact info yo used (or where to find it)

  • Brian
  • David

    Thanks TPG. Do you know when Chase stopped applying the dividend to the 40,000-point bonus? Is that a new policy that was introduced with the lower spending requirement, or does that pre-date this change?

  • Grant

    I would actually keep the Chase Sapphire preferred card and downgrade the ink old to the ink classes. Same benefits as the bold but no annual fee. And you can transfer the points to the Chase Sapphire preferred.

  • solly

    Does this card offer car rental insurance in Israel?

  • http://mreverydaydollar.com/ Mr. Everyday Dollar

    I just got the Chase Sapphire Preferred recently after having the same old Citi credit card for 7 years! Playing the points game is awesome – between getting the Sapphire Preferred and the Chase Hyatt I’ve been able to book 4 nights for free at the Park Hyatt Buenos Aires, which is $500+/night.

    The cards also have other great benefits that I wrote about: http://mreverydaydollar.com/hidden-benefits-of-chase-sapphire-preferred/

  • Novotnyjack

    I just got my Chase Sapphire yesterday and called this morning about the reduced spending amount and was told it was still $3000. Now what???

  • Lahaina12

    Thanks, Grant. The only thing is, I want to keep the 2 free lounge passes/year benefit that comes with Ink Bold and I don’t think that comes with the downgraded Ink cards. Is this correct? What would be the benefit of keeping the Chase Sapphire over the Ink Bold?

  • thepointsguy

    It pre-dates this new spending requirement. I will find out for sure, but I believe it was earlier this summer

  • thepointsguy

    Did you get it in the late afternoon when the link said $2k spend? If so just push back or escalate to a supervisor. I’m sure they’ll make it right

  • solly

    Hi, does this card cover car rental insurance in Israel?

  • thepointsguy

    The World Mastercard version provides primary insurance..this link is for the Visa Signature

  • David

    I called, and they asked where I learned about this (and that marketing would not be impressed by a “blog” post). They said they would monitor and forward to marketing when I got to $2,000, but otherwise no dice, and I was advised to spend $3,000. Overall, pretty hostile tone to treat a new customer who has had the card active for about a day.

  • Estebanos

    Would it make sense for a married couple to both have this card? I already signed up, but wondering if it’s worth it for my wife if I can just add her to my card. Obviously no bonus since she wouldn’t be applying, but going forward that also means only 1 annual fee. So essentially it would just be for the sign-up bonus, but if that’s the case is there anything else that complements better?

  • ART S.

    Go regular Sapphire (Dining 2x) or Freedom (5x quarterly bonuses) for a no fee card. That way she could transfer her UR points earned on those cards to your UR account. The drawback on grabbing these cards: no 7% dividend on and you would lose out on the 2x Travel (which is an understatement, because tolls, parking, and other “travel” expenses count). The smart money, honestly, sign up for the Preferred and downgrade at the fee time to the regular Sapphire. That seems to be the strategy here (haven’t done it and plan on keeping this “heavyweight”)

  • Pingback: Chase Sapphire Preferred Lower Spending Requirement Ends at 3pm Eastern Today | The Points Guy

  • http://www.facebook.com/people/Pa-Robert/1848440987 Pa Robert

    @pointsguy – you should delete the dbag “mr everyday dollar” link – he effectively disparages you in the link he has the audacity to post here.

  • zeusman

    Hi, wondering whether you foresee any new developments re the Chase Sapphire Preferred card in the near future.