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When Chase launched the 80,000 point offer on the Chase Sapphire Preferred card, the miles and points world went a bit bonkers. That had a lot to do with the timing of the offer as much as the fact that you are getting 20,000 more bonus points for the same card and same spend ($4,000 within 3 months) as previously.
This offer ends November 8th and we can only assume that will mean a return to the baseline offer of 60,000 points for $4,000 in spend, though we don’t know for sure.
The timing of the offer was good for many Chase fans that picked up the Chase Sapphire Reserve back in the summer of 2016. That’s because on top of the Chase 5/24 rule, you are not eligible for a new Sapphire bonus if:
- You currently have a Chase Sapphire Reserve or Chase Sapphire Preferred card open.
- You got the signup bonus on either the Reserve or Preferred within the last 48 months.
Many that got the Reserve during the famous and never-repeated 100,000 bonus offer of 2016 just recently became eligible. Some are eligible now and some won’t be eligible until after November 8th.
If you aren’t quite sure when you received it, you can send Chase a secure message to research it, or call them, though in both cases getting a straight answer comes down to the particular agent they get. Some get a result on the first try and others give up after 5 tries.
If you are eligible, the bonus is pretty unbeatable.
However, for day to day spend, it still makes more sense to use a Chase Freedom Flex or Freedom Unlimited on dining purchases for 3X points as well as 5X points on groceries for one year with a new account. If you aren’t eligible for a Freedom Flex or Freedom Unlimited, then the Sapphire Preferred will at least earn 2X on groceries until next April.
Despite that add, the Preferred really needs a bonus category and benefits overhaul – and soon.
Note sure how to best spend your points? Don’t miss our Chase Ultimate Rewards points guide.
Did you go for the 80,000 point bonus?
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You can find credit cards that best match your spending habits and bonus categories at Your Best Credit Cards.
New to all of this? My “introduction to miles and points” book, MilesTalk: Live Your Wildest Travel Dreams Using Miles and Points is available on Amazon and at major booksellers.