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If you’ve been following this blog you are probably well aware that the Chase Sapphire Preferred credit card pays out an annual 7% bonus on all points earned. Typically you’ll get this at some point in February for the prior year once your statement closes. My credit card statement closes on the 16th of every month and my points posted a few days thereafter.
Last year there was some talk that the 7% bonus would NOT be earned on the bonus points received from opening up the credit card and hitting the minimum spend requirements. Since I applied for this card last year, until my points posted I was not aware whether or not this would hold true. Luckily enough, I DID get the points on the 50,000 points I earned as the credit card bonus which was great! While this would not have swayed me away from getting the card, it is a nice addition. Now, going forward I am not sure whether my experience will hold true for years to come, but I sure hope so. That means that my 50,000 points earned was really 53,500 which is great. Unfortunately the bonus has since gone down to 40,000 points after meeting the minimum spend requirements, so if the 7% bonus still applies that will net 42,800 points.
I enjoy the 7% bonus as I typically do not think about it during each transaction, so getting that lump sum is a nice semi-forgotten about present. Now remember, if you close your card at the beginning of the calendar year, before the points hit your account, you will never see those 7% bonus points, so be cautious of that.
Anyone else have a different experience? You can learn more about this 7% bonus and the Chase Sapphire Preferred card as a whole in this prior blog post.