40000 Signup Bonus Chase Sapphire Preferred

Update: Both offers are now dead.

This is a quick post with two updates regarding offers on two Chase credit cards.

1) As I posted a few days ago, the minimum spend requirement on the Chase Sapphire Preferred increased from $3k to $4k though you still earn the same 40,000 bonus points if you hit the minimum spend in 3 months. I’m happy to report that I have a working link that has a $3k minimum spend requirement instead of $4k which is the public offer on Chase’s website and on other blogs.

Before the change was implemented by Chase, I used the Chase Refer a Friend site to generate a link to the offer. For whatever reason, my refer a friend link still shows the $3k spend and was not updated to be $4k. My link states this is valid through November 30th but it could be updated at any point. As a sidenote, I do receive 5,000 bonus if you are approved via the link below and this offer is actually better than the public offer.

Chase Sapphire Preferred Application Link with $3k Minimum Spend Requirement

2) The other news from Chase is the signup bonus on the Chase Freedom has increased from 10,000 points to 20,000 points if you spend $500 in 3 months. You can also get an additional 2,500 points if you add an authorized user and make a purchase in the first 3 months. You generally earn 1% cashback on transactions but each quarter there are different categories in which you can earn 5% cash back.

The Chase Freedom is a cashback card but if you have a Chase Sapphire Preferred or Chase Ink Bold you can transfer the points from the Freedom card to the Sapphire Preferred or Bold card. This “unlocks” the points and then the points could be transferred to the different airlines and hotels in the Chase Ultimate Rewards program like Southwest, United, Hyatt, Marriott etc. There is no annual fee on this card so this is card you will have a long time, which will make Chase happy to see.

Chase Freedom Application Link

Several others, including the Frequent Miler, have confirmed the minimum spend requirement on the Chase Sapphire Preferred credit card is increasing to $4,000 starting on Monday. The signup bonus is rumored to remain the same with 40,000 points offered if you meet the minimum spend requirement in 3 months. Additionally, you can earn an extra 5,000 points if you add an authorized user. So the real difference is instead of having to spend $3,000 to unlock the signup bonus, starting Monday you will have to spend $4,000 to get the signup bonus. This begs the questions – should I apply for the Chase Sapphire Preferred Card before Monday?

The spending requirement goes up to $4k on Monday

If you were planning to get this card in the near future anyway, then the answer is obviously yes – spending $3,000 to get a signup bonus over 3 months is easier & better than spending $4,000. If you were on the fence or just getting started in the points & miles games, I think the answer is still yes. For many people and especially beginners, I consider this card to be the best overall card if I could only have one credit card. Here’s why:

Great Signup Bonus – 40,000 points + extra 5,000 points if you add an authorized user in the first 3 months
Double Points on all Travel and Dining Expenses – These are generally people’s largest expenses so it makes sense to maximize points earned in these categories
Valuable & Flexible Points – The Chase Ultimate Rewards program is great as you can transfer points to several airlines (United, Southwest, British Airways, etc.) and hotel programs (Hyatt, Marriott, IHG etc.)
No Foreign Transaction Fees – I always use this card overseas
Annual Fee Waived – The annual fee of $95 is waived for the first year so no upfront cost to you

Chase Sapphire Preferred Application Link

For some people the additional $1,000 spending requirement will not present a problem as either your normal spending habits or ability to manufacture spend can cover the $1,000 increase. Additionally, I wouldn’t go out of my to apply for this card if it doesn’t fit in your application strategy or you just applied for several other Chase credit cards recently. But for those still debating it, I would apply before the weekend is up to avoid having to spend another $1,000 to get the same signup bonus.

While I do not have any affiliate links, I occasionally do have referral links in which I must be a current card member to refer others. The links above are my referral links as this is the best offer publicly available. If you are approved, I will receive some bonus points from Chase. Thank you for your support!