When it comes to Chase, the Sapphire Preferred was one of the cards that really revolutionized travel credit cards. With it’s reward categories in both travel and dining, it covered the major expenses of any trip. That being said, a few years ago, Chase released a premium version of the Sapphire Preferred called the Sapphire Reserve. The Reserve comes with an annual fee of $450, but offers plenty of benefits to offset that fee.
For a while, both cards offered the same sign up bonus. However, it looks like Chase would rather push the Sapphire Preferred. Not too long ago, Chase Increased the sign up bonus for the Preferred up to 60k points. Now for some, we are seeing an even better offer.
Keep in mind, this is a targeted offer; this is not available to everyone! There are two places where you can see this offer, either using the prequalification tool, or by logging into your Chase account and seeing if it shows up under my offers. While the public sign up bonus on the Preferred is normally 60,000 for spending $4,000 within the first 3 months, this offer is even higher.
The new offer that some people are being targeted for is a 70,000 offer for the same amount $4,000 spending within the first 3 months. In addition, the annual fee is not waived in the first year.
If you don’t have either the Sapphire Reserve or the Preferred, it’s hard to give a clear outline on what to do. If you can afford the $450 annual fee upfront, the Sapphire Reserve is the much better play long term, as not only are there plenty of credits to offset the $450 annual fee, but it also earns an additional point for every travel and dining expense. If you take into account the $300 statement credit, then the Reserve is only $55 more per year than the Preferred. However, the sign up bonus on the Reserve is only 50,000 points vs either 60,000 (public) or 70,000 (targeted).
If you aren’t planning any serious travel or dining within the next year, it could be worth signing up for the Preferred, getting the higher sign up bonus, and then upgrading it to the Reserve a year later (assuming your credit line is $10,000 or more as that is what the Reserve requires). If you are planning serious travel or dining in the next year, to the point where the extra point in travel and/or dining would earn you 10,000-20,000 points, then just go straight for the Reserve.
What do you think of this 70k targeted offer? Is the offer big enough to skip the Reserve for one year, and then upgrading a year later? Let us know what you think!