Well, well, well, with the introduction of the new Freedom Flex and the changes both cards have gone through, it is no surprise that Chase is starting to make some changes to their Sapphire cards!
If you take a look at the Chase Sapphire Preferred, you’d see that they are offering an 80,000 point sign up bonus for spending $4,000 within the first 3 months. With this offer, the annual fee is not waived within the first year.
From what some are reporting, if you recently applied for the 60k point offer, Chase is not matching to the higher bonus. Also, the offer looks to be lasting until November 8th.
What an exciting turn of events! First Chase gives us a huge revamp to their Freedom cards, and now we get a huge sign up bonus! The only other card that gives that high of a bonus is the Ink Preferred. The Sapphire Reserve is stuck at 50,000 points, and the normal offer on the Preferred is only 60,000 points.
That 80,000 point offer, at 2 cents per point (TPG), is worth $1,600! That is a total return of 40%, not including the additional points you would earn by meeting the spend requirement.
I’m hopeful that we will see more of a long term incentive to apply for this card other than points. With the changes to the Freedom cards especially, I’m not sure that the Sapphire Preferred will be worth it in the long term without additional adjustments. Here’s hoping that they revamp the Sapphire cards into something truly competitive now.
Are you interested in this new 80k point offer? Let us know your credit card application plan or experience applying down in the comment section below!