Increased Offers On The Sapphire Preferred & Reserve Cards
We shared the other day that Chase had increased the offer on the Chase Sapphire Preferred card and it was available when logged into your account. They have now updated the public offer everywhere. But Chase didn’t stop there, they also increased the offer on the Chase Sapphire Reserve card. Let’s take a look at both the new offers.
Update 5/20/21: Per DoC there are some mailers with a June 1st end date so this go a week or two more. If you were planning on grabbing it I wouldn’t wait because you never know. But if you don’t drop under 5/24 until the end of May this could be great news.
Update 5/8/21: Per TheSultan1 Chase has an end date of May 22nd on a flyer for this offer.
Some Of These Offers May Have Ended Or Changed
Chase Sapphire Preferred Offer
- Earn 80,000 Bonus Points after you spend $4,000 on purchases with your new Sapphire Preferred card within the first 3 months of account opening.
- Plus receive up to $50 in statement credits for grocery store purchases.
- Annual fee of $95 is not waived.
Card Benefits
- Earn 2X points on travel and dining at restaurants- from airfare and hotels to fine dining and cafés.
- Earn 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 80,000 points are worth $1,000 toward travel or even more when points are transferred to travel partners.
- With Pay Yourself Back your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash’s subscription service. Activate by 12/31/21.
Chase Sapphire Reserve Offer
- Earn 60,000 Bonus Points after you spend $4,000 on purchases with your new Sapphire Preferred card within the first 3 months of account opening.
- Plus receive up to $300 in an annual travel credits.
- Annual fee of $550 is not waived.
Card Benefits
- Earn 3X points on travel and dining at restaurants- from airfare and hotels to fine dining and cafés.
- Earn 1 point per dollar spent on all other purchases.
- Get 50% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $900 toward travel or even more when points are transferred to travel partners.
- With Pay Yourself Back your points are worth 50% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
- Priority Pass Lounge membership
- The membership comes with the best guesting policy for PP lounges out there. Two accompanying guests in your travel party get in with the cardholder.
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash’s subscription service. Activate by 12/31/21.
- $60 DoorDash credit, expires 12/31/21.
- Receive up to $100 application fee credit for Global Entry or TSA Pre✓
Eligibility
The product is not available to either (i) current cardmembers of any Sapphire credit card, or (ii) previous cardmembers of any Sapphire credit card who received a new cardmember bonus within the last 48 months. If you are an existing Sapphire customer and would like this product, please call the number on the back of your card to see if you are eligible for a product change. You will not receive the new cardmember bonus if you change products.
The card also is subject to the Chase 5/24 rule.
Which Offer Should You Grab?
So which offer is better? That really comes down to your specific situation. I will say that most people would probably be better off taking the Chase Sapphire Preferred offer. The 20,000 points offer around $300 in more value. Plus, the annual fee is $155 lower, even if you give the travel credit the full $300 value ($550-$300-$95). I think the $50 grocery credit on the Preferred and $60 DoorDash credit for the Reserve pretty much wipe each other out.
You would need to spend quite a bit on travel and dining to bridge that gap even if you include the other perks that come along with the Chase Sapphire Reserve. It will make sense for some but I think most should sign up for the Sapphire Preferred and then upgrade to the Sapphire Reserve after the first year (if they want the increased earn rates and other perks).
Increased Offers On The Sapphire Preferred & Reserve Cards – Final Thoughts
While this is not the best we have seen in terms of a welcome offer for the Chase Sapphire Reserve (it was 100,000 at launch), it is better than the normal 50,000 point offer. The Chase Sapphire Preferred is however as good as we have ever seen it publicly. We have seen the 80,000 point offer before but the $50 grocery credit puts it over the top.
If you are in a two player system you may want to see if the increased offers hits the refer a friend program over the next few weeks before applying.
Are you grabbing either card? Which one do you value more?
Chase Sapphire Preferred® Card
Chase Sapphire Preferred® Card is the old king of travel rewards cards. Right now
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So if I downgrade my Preferred card to a Freedom, do I get to keep my points?
You would keep the points but they would no longer be transferrable and worth only 1 cent a piece in the portal unless you had another Ultimate Rewards premium card like the Ink Preferred etc.
Which card do you recommend if the annual fee is waived, i.e. MLA? I was above 5/24 during the 100K Reserve launch, so I held out. Last year I did a product change from the Sapphire to Freedom. Do you think a 100K offer will emerge from the dead once again?
You can never say never but I think it is unlikely that we see it again. It really hasn’t moved from 50-60K since then. I would grab the CSP myself and then upgrade it to the Reserve after the first year if that is the card you want long term.
still pissed off chase upped the reward to 80,000 literally days after I got my preferred card.
That is the worst 🙁
Did you reach out and ask them to match the increased offer?
They said “since that was the current reward on the date I received the card, that is the reward I receive….Is there anything else I can help you with today? have a wonderful day…”
“previous cardmembers of any Sapphire credit card who received a new cardmember bonus within the last 48 months.” How is this counted? The card opening date, 3 months after opening date or when you close close the card?
When the points posted
So if I cancel my current Sapphire Preferred card and wait a couple of weeks to reapply (haven’t gotten the bonus since over 5 years ago or more) can I get the new 80k bonus? I would have to transfer my points to a freedom card until I get the Sapphire again right?
Please advise,
Yeah if it has been over 48 months since earning a Sapphire Preferred or Reserve welcome offer you would need to transfer the points to a Freedom card, downgrade the CSP to another Freedom (or close it) and then reapply. You would be eligible for a new welcome offer at that point.
Thank you!!
How long after closing or converting my reserve card to a freedom, do I have to wait before applying for either card again for the bonus?
Thanks!
As long as it has been 48 months since you got your last welcome offer you can usually do it a week or two later.
If they want to get this card out there more, then they need to step back from the 5/24 rule. I would not mind picking it up as many people like the flexibility of the points. But, I’m over 5/24 so it’s a no go. Just sticking with AMEX and Membership Rewards for now.
Hmmm, so I was like you, but there haven’t been any compelling new card bonus offers during the pandemic. Except for momentarily forgetting and signing up for a Costco Anywhere card when joining Costco last summer, I’ve opened 0 cards since the pandemic started. So I’m under 5/24 and it wasn’t that hard and will continue to use my next two slots that open up for Chase cards.