40,000 Points Chase Sapphire Preferred to be Updated on Monday

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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.

Why?

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!

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25 responses to “40,000 Points Chase Sapphire Preferred to be Updated on Monday

  1. I hope it goes back to 50,000 and lower the spending limit

  2. I hope it more and lower spending also, I just got my Sapphire card last week. Hope they can match the changes if its better.

  3. Daraius, excuse my perhaps ignorant question, but do you use a special program to monitor all your credit and debit cards, their fees, their expiration dates, cancellation time, spending requirements, churn dates, etc. – perhaps as in an extensive Awardwallet for CC/DC’s ?
    Or do you just use one of the existing bookkeeping programs ?

    TIA!

    • @dhammer53 – Debit cards and bank accounts are no longer as profitable for banks as they used to be. Credit cards still are, so…what would you do if you were at a bank?

      @Genise – That’s a great question, and I’ll answer it on the blog. Short answer is that I use Award wallet for my miles and points balances, Mint for the credit card payment due dates and my finances, and an excel spreadsheet for my credit card minimum spending and application dates.

  4. @Genise, i use an excel spreadsheet:

  5. @Genise, i use an excel spreadsheet: http://i50.tinypic.com/25apxte.png

  6. Kudos for not inducing a panic that the Chase Sapphire offer is decreasing and the “sky is falling.” Perhaps they will be tweaking the bonus categories like they did with the Ink Bold products or introducing a charge card version of the card.

  7. Thanks all …. and yes, that’s what I’m using too – a spreadsheet.
    But boy … I have now 48 FF/other accounts to monitor, in addition to numerous CC’s & DC’s.
    Awardwallet takes care of most and the spreadsheet of the leftover “finance” cards, but it’s becoming almost a full time job these days.
    Anyone else have this “luxury” problem 😉 ?

  8. Maybe they will release a whole new card, like they did with the Ink Bold earlier this year…which means a whole new UR bonus to apply for!!! 🙂

  9. So they’ll match the higher offer, but not if the spending requirements DECREASE? Doesn’t that seem counter-intuitive, like you’re being penalized for having a higher spending requirement? Am I misunderstanding?

  10. @ Esteban

    I think what he’s saying is that Chase will match you to a higher bonus, however, they will not match you to a lower spending requirement. If the requirement was $3,000 when you applied and the new requirement is $2,500, Chase will not lower your requirement to match the newer offer.

  11. @Peter – OK that makes more sense. The wording was a bit confusing but I see what he means now 🙂 Thanks!

  12. You mention that the Citi Premier cards have a chip, however the 2 Premier cards that I just received last month (MC & Visa) neither have a chip. Did something change?

    • @Grant Thomas – My spreadsheet is very similar to yours!

      @Esteban @Peter
      – In my observation, they haven’t matched the lower minimum spending before, but that could change next week.

      @Sal – You can call the number at the back of the card and ask them to send you the version with the CHIP for free.

  13. Pingback: Chase Sapphire Preferred | Million Mile Secrets

  14. Any update to this? I’m so anxious

    I don’t see any changes online at their website on chase.com

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  17. Hi D!

    Quick question, my 1-year with Chase SP is in about 1 week. Should I cancel the card or call to waive the fee?

    Any tips?

    Thanks!
    Nat

  18. D,

    Thanks for your reply! What did you do when your 1-year was up?

    Thanks!
    Nat