Is the Spending Requirement for Chase Sapphire Preferred About to Go Up?

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Key Link: Chase Sapphire Preferred

Chase Sapphire Preferred is the best all-around, most rewarding personal credit card.

It has one of the best signup bonuses, has strong benefits, and is a great card that rewards ongoing spending (because it has flexible points that transfer to a variety of airlines and hotels, and because it earns double points on all travel and dining).

Dan’s Deals is reporting that the minimum spending required to earn the card’s signup bonus is about to go up, so you may want to get the card before that happens.

  • Bonus: 40,000 points after $3000 in spending within 3 months plus 5000 more points for adding a free authorized user to the account and making a purchase within that same timeframe
  • Valuable points: Chase points are among the two best currencies of any loyalty program. They transfer to United, British Airways, Singapore Airlines, Korean Air, Hyatt, Marriott, and more.
  • Strong earning: Double points on travel and dining, useful all over the world with no foreign transaction fees, and Visa acceptance.
  • Good benefits: Like primary collision damage coverage on rental cars.

Net net, I believe the Chase Sapphire Preferred Card has been probably the all-around most lucrative credit cards in the market for the past 3 years. There’s no annual fee the first year, then it has a $95 annual fee.

Dan relays that several Chase branches report a higher minimum spending requirement will begin on Monday. One of his commenters reported that their banker said there would be “either a decrease of bonus points or higher min spend for the sapphire preferred in the near future”

Either way, it sounds like now is a great time to take advantage of the bonus.

Chase Sapphire Preferred

Editorial note: any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Comments made in response to this post are not provided or commissioned nor have they been reviewed, approved, or otherwise endorsed by any bank. It is not the responsibility of any advertiser to ensure that questions are answered, either.


About Gary Leff

Gary Leff is one of the foremost experts in the field of miles, points, and frequent business travel - a topic he has covered since 2002. Co-founder of frequent flyer community InsideFlyer.com, emcee of the Freddie Awards, and named one of the "World's Top Travel Experts" by Conde' Nast Traveler (2010-Present) Gary has been a guest on most major news media, profiled in several top print publications, and published broadly on the topic of consumer loyalty. More About Gary »

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Comments

  1. I noticed on the chase “refer a friend” site today that the referral link I generated now requires a $4000 spend in 3 months.

    Disappointing, but not out of reach.

  2. I’m not buying into all of it. The min spend may go up, but I bet the sign up bonus goes UP along with it, not down. Or we’ll see a limited 70k offer in the near future, such as the INK recently.

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