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The sign-up offer for the Chase Sapphire Preferred card has been increased from 40,000 to 50,000 points after $4,000 spent within the first three months. You can earn an additional 5,000 points when you add an authorized user and make a purchase within the first 3 months as well.
The Chase Sapphire Preferred routinely makes the list of top travel rewards cards, in part because it earns 2 points per dollar on travel and dining expenses. Furthermore, for the past few years, Chase has offered a bonus point promotion (3 points per dollar total) for dining purchases made on the first Friday of each month. This 3x bonus promo makes it easy to maximize earnings, since it applies to gift cards as well, allowing you to effectively pre-pay for restaurants you frequent and earn more points in the process.
Unfortunately, we have confirmed with Chase that this promotion will be disappearing at the end of the year. First Friday should continue as planned on August 7, September 4, October 2, November 6, and December 4; hopefully, Chase will add a new promotion to this card in the future.
Chase made several changes to Sapphire Preferred benefits back in 2014, some of which will also go into effect at the end of this year. The extra bonus point per dollar for travel booked through Ultimate Rewards will disappear, and the card will no longer offer any 7% annual dividend on points earned throughout the year. For cardholders who had an account prior to the change, the final dividend will arrive in early 2016.
It’s always disappointing to lose card benefits and sad to see promotions end, but we’re looking forward to see what Chase has planned next.
Even after the introduction of the Chase Sapphire Reserve, the Chase Sapphire Preferred is still a fantastic choice if you want to avoid the Reserve’s $450 annual fee, earn 2x on all travel & dining and earn a 50,000 point sign up bonus.
- Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
- Named Best Credit Card for Flexible Travel Redemption - Kiplinger's Personal Finance, July 2016
- 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
- Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
- No foreign transaction fees
- 1:1 point transfer to leading airline and hotel loyalty programs
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel
- No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards