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There is a newly increased signup bonus on the Chase Sapphire Preferred: 60,000 Ultimate Rewards points after $4,000 spend in the first three months. You can get another 5,000 bonus points for adding an authorized user and making a purchase in the first three months. Note that the annual fee is not waived the first year with this offer as it has been on the 50K offer. Still, the additional 10,000 Ultimate Rewards points are worth more than the $95 fee even if only used for a statement credit as 1 cent each.
- Get 60,000 Ultimate Rewards points after you spend $4,000 on purchases in the first 3 months with the Chase Sapphire Preferred.
- Get an additional 5,000 points after you add the first authorized user and make a purchase in the first 3 months
- See our Best Offers page or our Chase Sapphire Preferred card page for more information and a link to this offer
Key Card Details
- $95 annual fee is not waived the first year
- Earn 2x on travel and dining purchases
- Earn 1x everywhere else
- Get Primary CDW on rental cars when the entire cost of the rental is paid on your Chase Sapphire Reserve
Keep in mind that Chase will now only allow you to have one Sapphire product at a time (See: Chase ends ability to double up Sapphire Reserve and Sapphire Preferred bonuses). Additionally, you are not eligible for the signup bonus if you have received a signup bonus on any Sapphire-branded card within the past 24 months.
Also note that with this new offer, the annual fee is not waived the first year (whereas it was on the 50K offer). Still, a trade of 10K Ultimate Rewards points for $95 is one I’d be happy to make as those points are worth at least $125 in travel through the Chase portal (and potentially much more when transferring to partners).
That will exclude anyone who has gotten the Sapphire Reserve since that card is not yet 24 months old. However, if you have not opened a Sapphire card in the past 24 months and do not currently have one open, this increased offer certainly may be of interest. We recently compared the first year value of the Preferred vs the Reserve (See: Showdown: Sapphire Reserve vs Preferred First Year Value). For those who will not yet make use of the benefits to tip the balance in favor of the Reserve, this might be a good signup bonus to go after with an eye to potentially upgrade down the road.
H/T: Doctor of Credit