Changes to Chase Sapphire Preferred Card, and Bye Bye Chase Sapphire

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UPDATE: The Chase Sapphire Preferred card offer has officially increased to 40,000 bonus when spending $4,000 within the first 3 months. And the Chase Sapphire card is officially no longer available for new applicants.

Earlier today I received an email that the Chase Sapphire Preferred, Chase Sapphire, and Chase Freedom cards are changing this coming Monday. Sometimes that just means a marketing bullet is added or taken away, a change to the card benefits, or a change to the sign up offer. Typically we are not told of the change until the change actually happens.

Well, since I literally live above a Chase bank, I figured I might as well inquire about the possible changes. The representative that I spoke to gave me the following information:

  • The Chase Sapphire Preferred minimum spend amount is changing on November 16. Currently, you receive 40,000 points after spending $3,000 on the card within the first 90 days, but starting next week, the minimum spend will be increased to $4,000. Currently and going forward you can also earn an additional 5,000 points after adding an authorized user and the user makes a purchase within the first 3 months of account opening
  • The Chase Sapphire credit card is going away! Again, I was told this was happening on November 16.

While I wasn’t so surprised about the minimum spend rising, I was pretty shocked to hear that the non-Preferred version was no longer to be an option. And while the representative told me November 16th, my guess is that it is really November 17 as that is a Monday and typically changes to not occur on a Sunday. Although that is my assumption and I could totally be wrong. And I totally forgot to ask the branch representative about the Chase Freedom card! UPDATE: The Chase Freedom credit card is doubling its sign up offer!

Also keep in mind that these are the changes happening in the branch. That does not necessarily mean that the same changes will apply for online applications. Although, I am assuming it will as I received notification about online link changes. I have not received any confirmation from Chase if this holds true for online applications.

If applying for the Chase Sapphire Preferred credit card was on your radar and meeting the minimum spend requirements is difficult for you, then I suggest applying by tomorrow night. Remember though, there are many ways to meet minimum spend so I wouldn’t fully jump the gun if you’ve been on the fence. My assumption is if you can spend $3,000 on the card within 90 days you can also figure out a way to spend $4,000 on the card!

Now, if you’ve been eyeing the Chase Sapphire card then I highly suggest applying now. I really really really hope the representative was giving me incorrect information, but this is the only information I have to go by. The Chase Sapphire card is currently offering a 10,000 point bonus after you spend $500 in the first three months. You can also earn an additional 2,500 points after you add the first authorized user and make a purchase in the first 3 months from account opening.

The Chase Sapphire card comes with no annual fee, but does not give you the same perks as the preferred version. With this card you cannot transfer the points directly to partner loyalty programs. But, if you have the Chase Sapphire Preferred, Chase Ink Bold, or Chase Ink Plus, you can transfer the points from your Chase Sapphire account to one of those three “enhanced” accounts and then transfer them to partner programs. You can read more about maximizing your Chase Sapphire points in this post: “Maximizing your Chase Freedom, Chase Sapphire, Chase Ink Classic, and Chase Ink Cash Points.” Another difference between the two cards is that the Chase Sapphire card comes with a 3% foreign transaction fee, while the Chase Sapphire Preferred has no foreign transaction fees. At restaurants, you earn 2x points with both the cards, but with the Chase Sapphire you only receive 1x point on travel and 2x points with the Chase Sapphire Preferred. You can learn more about the differences of the two cards in this post: “Chase Sapphire Preferred vs. Chase Sapphire.”

Feel free to comment below if you’ve heard anything different. Remember, this was the information I heard from one branch representative. I am going to walk into the branch tomorrow again to confirm the information with a different branch representative, and also to inquire about the Chase Freedom credit card.

Key Links:

  • Chase Sapphire Preferred – 40,000 bonus points with $4,000 spend in 3 months plus an additional 5,000 points after adding an authorized user and the user makes a purchase within the first 3 months of account opening; Introductory annual fee of $0 the first year, then $95.
  • Chase Sapphire – 10,000 bonus points when you spend $500 on purchases in the first 3 months from account opening, plus an additional 2,500 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening; no annual fee. UPDATE: This card is no longer available.

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Comments

  1. “At restaurants, you earn 2x points with both the cards, but with the Chase Sapphire you only receive 1x point at gas stations and 2x points with the Chase Sapphire Preferred.”

    Since when does CSP get 2x on gas?

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