(EXPIRED) New 80K bonus on Sapphire Preferred (requires big spend)

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There is a new highest-ever signup bonus available on the Chase Sapphire Preferred card: Get 80,000 Chase Ultimate Rewards points total: 50K after spending $4,000 in the first 3 months and an additional 30,000 points after spenidng $20,000 on purchases in the first year of card membership. Those who are not interested in such big spend can still find a link to the typical 55K offer on our Best Offers page or Chase Sapphire Preferred page.

The Offer

  • Get 50,000 Chase Ultimate Rewards points after spending $4,000 in the first 3 months plus an additional 30,000 points after spending $20,000 on purchases in the first year of card membership
  • Direct link to this offer (not an affiliate link)

Key Card Details

  • Earn 2x travel & dining
  • Earn 1x everywhere else
  • Points worth 1.25 cents each when redeeming for travel through the Ultimate Rewards portal
  • $95 annual fee is waived the first year

Quick Thoughts

This is a big offer if you can meet the spend. Indeed, the Sapphire Preferred has never offered such a large signup bonus — after meeting the full $20K in spend, you would have at least 100,000 Ultimate Rewards points (more if any of that spending were on travel or dining). While the offer does not mention a bonus for adding an authorized user, this card normally awards 5K bonus points after adding an AU and making a single purchase, so it’s possible that the bonus would post for that despite no terms indicating it will.

The big spend required is an interesting change. After the initial 50K for $4K spend, you’ll have to spend another $16 in the first year to trigger the additional 30K point bonus. On the surface, that doesn’t look like a terrible deal. On the other hand, $16K spend on the Freedom Unlimited would yield 24,000 points. While more points is better than fewer points, some people will surely hesitate at putting so much spend on this card for a relatively marginal benefit over the best alternative.

Still, if you don’t have a premium Chase card in order to transfer Ultimate Rewards to Chase transfer partners, this is a fairly intriguing offer. Keep in mind that there is also an (apparently targeted) offer out for 100K on the Ink Business Preferred that is available in-branch only via a BRM or the standard 80K offer, which requires much less spend.

Keep in mind that this card is subject to 5/24, so if you have opened 5 or more new accounts in the past 24 months you will not be eligible.

Chase's 5/24 Rule: With most Chase credit cards, Chase will not approve your application if you have opened 5 or more cards with any bank in the past 24 months.

To determine your 5/24 status, see: 3 Easy Ways to Count Your 5/24 Status. The easiest option is to track all of your cards for free with Travel Freely.

Also keep in mind that Chase only allows you to have one Sapphire card and you are not eligible to receive the signup bonus if you have received a signup bonus on this card or the Chase Sapphire Reserve in the past 24 months.

H/T: Doctor of Credit

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