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

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

Million Mile Secrets40,000 Points Chase Sapphire Preferred to be Updated on MondayMillion Mile Secrets Team

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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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D,

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

Thanks!

Nat

Author
Million Mile Secrets

@Nat – Emily cancelled hers and I got the Sapphire Preferred, but she reapplied afterwards because her travel/dining picked up and she got the bonus again.

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

Author
Million Mile Secrets

@Nat – Depends on your preference. You could cancel and get another card later on. If you do cancel, be sure to transfer your points before cancelling otherwise you’ll lose them.

Any update to this? I’m so anxious

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

Author
Million Mile Secrets

@Grant – I wouldn’t worry about this, but expect the changes in the next few days.

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?

Author
Million Mile Secrets

@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.

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

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