The Chase Sapphire Preferred card is easily one of the best credit cards out there.
- It has one of the very best signup bonuses in the market — 40,000 points after $3000 spending within 3 months. Annual fee is waived the first year.
- Double points on travel and dining.
- Points transfer quickly into your choice of United Airlines, Korean Airlines, British Airways, Southwest, Amtrak, Hyatt, Ritz-Carlton, Marriott, and Priority Club. And points transfer into anyone’s account you wish.
- The card has no foreign currency transaction fees.
- You get access to the Chase Ultimate Rewards mall, a mileage-earning shopping portal that often has the most lucrative opportunities to earn extra points for the online purchases you’d make anyway. I love the 2 extra points per dollar on Travelocity purchases, extra point per dollar at Expedia, and I love it when Drugstore.com gets up to 10 points per dollar spent.
And the offer on this card will be changing. We don’t know what it will be changing to.
All of my links to the card are supposed to stop working 10am Eastern time on Monday morning.
There are several possibilities:
- A higher or lower signup bonus. If I get to guess, the signup bonus won’t go up, they’ve done higher bonuses in the past but have been pushing down the bonus on this card.
- A higher or lower spending requirement to earn the bonus. On the whole card companies have been looking for higher spending requirements before they hand out a bunch of bonus points. Chase upped the requirement for spending on the business version of this card, all the way to $10,000 before getting its full bonus. But I have no inside information on what will happen next week with this.
- New or changed benefits. The card already has no foreign currency transaction fees. They could add lounge passes or make it chip and signature for greater ease of use in Europe.
Or something else entirely.
I already have the card. It’s top of wallet, I use it most days. So I’m not facing a decision of whether to get it right away.
But if I was, I would get the card now. Because even if the signup bonus were to go up, Chase has been pretty good in the past about matching new cardmembers to better bonuses that come along in the first 90 days after getting the card. So if the bonus goes up, you can ask them to match to the higher bonus (it’s as simple as sending a ‘secure message’ through their website). If the bonus goes down, you’ve locked in your 40,000 points by getting the card before Monday. Meanwhile, I don’t see a likely benefit to waiting.
This is the card I use for most of my travel spending and all of my dining, for all of my spending outside the United States, and at every place that doesn’t take American Express. It’s one of the best cards on the market. I don’t know what changes will come next week, but in terms of a bonus the best strategy is probably to act now.
(Note that I do receive referral credit if you use my link for the card — whether you use it this week or next week doesn’t matter in that regard. And the link is to the best offer I’m aware of. I very much appreciate if you choose to use my link when you apply.)