Chase Sapphire Preferred Minimum Spending is now $2,000 (Down from $3,000)

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Just a quick update to let folks know that just as I hinted, all is well with the Chase Sapphire Preferred.

In my first post on this change, I wrote “I personally wouldn’t go out an apply for the card in anticipation of a decrease in the sign-up bonus next week.”

And on Saturday, I wrote “I’d even bet 40,000 Ultimate Rewards points that the changes will be slightly positive!

Well it turns out that I’m not losing 40,000 Ultimate Rewards points this time!

The sign-up bonus is still 40,000 points, but the minimum spending is now $2,000 (instead of $3,000) within 3 months.

I explained, in my weekend post on why the American Express Starwood card is overrated, but still worth the 30,000 point sign-up bonus, the combination of the fee-free Chase Freedom and any one of the transferable Chase Ultimate Rewards cards (Chase Sapphire Preferred, Chase Ink Bold, or Chase Ink Plus is a better choice for the average American who is not a Big Spender.

That’s because you can earn 5X Ultimate Rewards points on the Chase Freedom (a no annual fee card) which can be transferred to airlines or hotels, get additional Ultimate Rewards points through the Ultimate Rewards shopping portal, and pay no foreign exchange transaction fee on any one of the transferable Ultimate Rewards cards (Chase Sapphire Preferred, Chase Ink Bold, Chase Ink Plus).

Perhaps there will be more good news from the banks as the year comes to an end.

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29 responses to “Chase Sapphire Preferred Minimum Spending is now $2,000 (Down from $3,000)

  1. It’s a positive change for new cardmembers, but I’m disappointed that they still haven’t added an EMV chip to the CSP. (I think a lot of people were hoping that was going to be the change– b/c that’s what happened earlier this year when affiliates were requested to pull their Hyatt Visa links.)

  2. I am planning to go for the Chase trifecta.
    1) Do you happen to know whether it counts as 2 hard pulls if I apply for the Chase Sapphire Preferred and Chase Freedom at the same time?
    2) Is it advisable to apply for both at the same time?
    3) The current Chase Freedom bonus is for 10,000 points. Is there any point to waiting for a certain time of year to get the Chase Freedom (e.g. like the SPG Amex) or can I just go ahead and get it as soon as I can?

    Thanks. Love your blog!

  3. WOOT! I’ll be honest, I’m in hunker down mode so that $3k spending would be a tough one for me to get but $2k is easy for me

  4. “Perhaps there will be more good news from the banks as the year comes to an end.” dang should i hold out for 50,000k after first purchase like the good ol’ days? haha j/k

    D will you get your referral link soon?

  5. That is what happened to me. I got a mail offer for 50,000 points just for my first purchase. It was an excellent deal. 🙂

  6. Is this considered a NEW product now .. I already have this card .. can I reapply ?

  7. Robert when did you get the 50k? was it last year?

  8. Grant,

    It was earlier this year (late winter, early spring). I believe I had until the end of April 2012 to apply in which I did. Went to a Chinese buffet and spent $13. Within a couple of weeks, 50,000 points in my account. 🙂

  9. @Robert Man I want that mail offer. That extra 10k pts will come in handy for me. Debating if I should hold out a bit longer =)

  10. Grant,

    That is a dilemma. Not sure if they will do it again but they might.

  11. Hi, I just got this card two weeks ago.. Do you think I can call and try to get it reduced to 2,000 instead of the 3,000. If so, which number would I call just customer service number on my card? Thanks..

  12. @RR You cannot be instantly approved for two personal Chase cards at the same time; as I understand it the second will be automatically denied if it’s within 30 days. If your credit is good and you don’t already have too many Chase accounts, though, you should be able to get approved for the second one via the reconsideration line. This is in fact exactly what happened to me, as I was not aware of the 30-day rule and applied for the Freedom shortly after getting the Sapphire. In my case, the second app did trigger a second credit pull, although my situation was a little different because the applications were about two weeks apart. (Oddly, in my case the first hit was on Equifax and the second on TransUnion.)

    Is the $200/20k offer for the Freedom not around anymore? 10k seems chintzy. I think I might hold out, but the Q4 5% bonus categories (hotels and airlines) are pretty easy to max out, so….

  13. @Robert S Yeah I agree, I never get mail for offers from Chase. Just tons of mail from Discover who really wants me back =D haha

  14. I’m in the same shoe as Karen, What is our chance of getting a lower spending?

  15. @Karen, I would send them a secure message on their website. I have always had good luck with that.

  16. @Karen and Tom – If that doesn’t work, ask if you could have 50,000 points for spending the $3,000. I have asked for something similar from Chase and was approved – visa secure message. I like that method also because you have it in writing just in case.

  17. @Frank.. Called today to activate my ink bold card and asked about reducing it to 2,000. They guy is like you already spent the $ 3,000. Geez, i did not think i spent so much already… So, I will ask what you suggested.. It can’t hurt.. thanks for the idea.
    @Tom.. they were going to lower it before i knew I spent that money.. so it can be done.

    • @DWT – That would be a great addition to the card.

      – I wouldn’t count on 2 pulls, especially since the 2nd application could get denied automatically before pulling your credit and the rep may pull your credit only after calling the reconsideration line. I wouldn’t do both at the same time, unless you have no recent Chase apps. But you also could do both and call the reconsideration line one at a time to get approved. I don’t know of any planned bonuses on the Freedom, but there very well could be. The quarterly maximum for %X points is $1,500, so you’re losing 7,500 points for each quarter you wait for a better offer.

      @Grant – I wouldn’t expect that to be a public offer any time soon, but you could get a targeted offer for that.

      @amod – I doubt it is considered a new product, but if you do try, please let us know!

      @Karen @Tom – I don’t have personal experience with Chase matching lower sign-up bonuses, but it doesn’t hurt to ask. You can call the number at the back of the card or send them a secure message.

  18. Darius is there a way to get on the mailer from Chase? I never get any but I only been a Chase customer for a year. I did find this site and unfortunately I didn’t “accidently” throw out any offers

  19. Just for reference, but I sent a secure message yesterday requesting my spend qualification be lowered from 3k to 2k, and they said they’re happy to match any account opened with 90 days prior to the offer.

  20. Hi Everyone. Sent secure message. Got response within 10 minutes. Spending lowered to 2k from 3k!

  21. Chase did the same thing (I sent them a secure message) when I requested 80,000 points over the stated 60,000 for their Priority Club Visa. They honored the extra 20,000 points. Chase’s customer service has really stepped up recently.

  22. Spending lowered to 2k from 3k with secure message this AM.

  23. Thanks for the Tip! My spend requiremnet on the Saphire Preferred was lowered by 1000.00 in 5 minutes!

  24. Thanks for the tips. Also I asked for a 10,000 point bonus on top of 40,0000 citing bump the bonus, and they said they’d reply by mail. 2 days later I received 10,000 points to my account.

  25. @Jay how did you pull that off? Did you already sign up for the 40k and 2k spending limit just recently? I’m hoping to get targeted for the 70k+ pts or if the 50k comes back.

  26. Anyone think the offer will change in the next 2 months?