Disclosure: We get a commission for links on the blog. You don’t have to use our links, but we’re very grateful when you do. American Express, Barclaycard, Capital One, Chase, and US Bank are Million Mile Secrets advertising partners. Opinions expressed here are the author's alone, and have not been reviewed, approved or endorsed by our partners. Here’s our Advertiser Disclosure.
Update: One or more card offers in this post are no longer available. Check our Hot Deals for the latest offers.
Update: I wouldn’t worry about the changes, and would NOT apply for the card before the changes next week.
Chase is “updating” the Chase Sapphire Preferred (my affiliate link), which currently offers a 40,000 point sign-up bonus after spending $4,000 within 3 months, next week.
I have to remove my affiliate links by 10:00 am EST on Monday, August 20, 2012, but will have a new link once the update has been made.
I don’t know what the specific change will be, and often it is just a change to the marketing copy.
It is possible that the sign-up bonus may decrease (like it did earlier from 50,000 points to 40,000 points) or that the minimum spending required to get the bonus could increase. But I’d guess (just a guess, but do what’s right for you) that is unlikely to happen and that the change is likely positive rather than negative.
Because we’ve seen lots of new offers since June – Chase Southwest with a 50,000 point offer, the new Citi Hilton Reserve card with free Gold status and 2 free nights, the new Chase Ink Plus with a 50,000 point offer, the US Bank Flex Offers Travel card with a ~$600 value and the limited time increase to 30,000 or 35,000 points on the American Express Starwood credit card. And the Citi Thank You Premier still has a 50,000 point sign-up bonus.
Instead, I’d guess that the Chase Sapphire Preferred could get an EMV Chip in it, to make it more useful in countries where credit cards have a Chip in them – especially since the Citi Thank You Premier has a chip and many other Chase cards (like the Chase British Airways & Hyatt card) have a Chip.
Or the card could just a minor tweak to the marketing copy or an additional bonus category or a change in the spending requirement. Again, this is speculation, but I personally wouldn’t go out an apply for the card in anticipation of a decrease in the sign-up bonus next week. Of course that’s possible, but *I* don’t think it is likely.
Bottom Line: If the sign-up bonus increases, Chase will usually match you to the better offer, but in my observation, Chase usually does not match you to a better offer if the spending requirement or category bonuses change. I’m not expecting the offer to get worse in the current environment, but that’s just my opinion!
* If you liked this post, why don’t you join the 6,000+ readers who have signed-up to receive free blog posts via email (only 1 email per day!) or in a RSS reader …because then you’ll never miss another credit card update!