Doctor of Credit reports that we will see increased offers on both the Chase Sapphire Reserve and Chase Sapphire Preferred cards coming on March 21st both in-branch and online, with the Reserve card offering a new cardmember bonus of 60K points after spending $4,000 on purchases in the first 3 months and the Sapphire Preferred to offer 80K points after $4,000 in purchases in the first 3 months plus up to $50 in statement credits for grocery purchases. Both represent valuable increases.
The Deal
- According to Doctor of Credit, we will see the following offers both in-branch and online starting on March 21st:
- Chase Sapphire Preferred: 80K points after $4K in purchases in the first 3 months plus up to $50 in statement credits for grocery purchases
- Chase Sapphire Reserve: 60K points after $4K in purchases in the first 3 months
Quick Thoughts
Both offers are solid. The Reserve has offered a bonus of 50K points after minimum spend for a long time, so it’ll be good to see 10K points thrown on top. We did see an 80K offer on the Preferred late last year, but with the $50 kicker for groceries I think this will be the best offer we’ve ever seen on the Sapphire Preferred card. If you have one of these cards on your radar, it makes sense to wait ten days as I expect Doctor of Credit’s intel is well-sourced on this. You can apparently get an offer with the $95 annual fee waived for the first year on the Chase Sapphire Preferred if you apply in-branch, so that would be a good move for those with access to a branch.
H/T: Doctor of Credit
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My husband was just approved for CSP yesterday.. would it be worth talking with Chase after the 21st to see if they would apply the 80k bonus instead of the 60k bonus?
And thanks, Nick, for the reminder to downgrade cards instead of canceling in order to re-apply for bonuses. I’ve had my CSP for over 6 years and didn’t want to cancel because of the effect it would have on my credit score. I can downgrade it instead and still retain it’s length if history on my credit history, correct?
If you ask for 20K points, there is a chance you get 20K points. If you don’t ask for 20K points, there is no chance of getting 20K points. I like asking better than not asking :-).
In the past, Chase used to be great about matching if a better offer came out within 90 days. Then they stopped being so good about matching for a while. I don’t know whether or not they’ll match, but if I were a wheel I’d want to squeak to at least have a chance of getting some grease.
And correct, if you downgrade it retains the same length of history.
doh! Just applied for the Sapphire Preferred last week at 60,000. Hopefully Chase still offers matches to higher offers.
My husband was just approved for CSP yesterday..
I’ve had my Reserve for 4 1/2 years and will be eligible for a new bonus on the preferred line. If I cancel my CSR, how long should do you think I should wait to pick up a new Preferred card?
I recommend at least a week or two. Three if you can. You need to give it a little time to get out of the system so Chase recognizes you as no longer having the card.
I should add: don’t cancel it. Just downgrade it to a Freedom Flex or Freedom Unlimited (or the no-fee Sapphire card, but no good reason to do that). No sense if giving up the credit line, particularly in case you don’t get approved for the CSPfor some reason so you could upgrade back to the CSR if need be.
With liquidation avenues shrunk in my area to only and maybe the very big box store, I’m wondering what is the best type of gc to buy that types will still work at the big box store. Unfortunately, my go to gwhat thy-rocery chain is now cash only. Seems odd when those would prefer unanimous cash which isn’t traceable. Even gcs are traceable via what they were bought with. That leads to almost promoting ml for ill-gotten cash but I guess some stores aren’t as concerned about that. Any future bonuses from issuers will have to be really valuable since I do plan on some large purchases from a future construction project. For that, I’ll be on the hunt for initial spending bonuses that are huge in a way to turn those points into cash. As a private client, me wife could easily get a Reserve if they up it to 100,000 points like in the beginning and she’s well maybe 2/24, well under the 5/24 rule, but other banks currently have some decent cashback bonuses that give Chase some competition. Still wondering about the most acceptable gc brand that can liquidate. Plus, we’d put lots of regular spend on it too when we’re ready. Waiting for lumber to come down. We need the US/Canadian border to truly open as planned this month. Hopefully, Biden won’t extend that border closing. Why does it seem easier at the southern border compared to the northern border. And, time to lower or at least not raise the tariff on products from Canada. It’s just causing more inflation of many prices in US. I understand why it was done pre-pandemic, and it did get lowered at the end of 2020, but the border is a problem. We’ll have money to spend, but the prices are going to hurt the banks and US stores since many are canceling many plans. I know some of this may not seem like it affects cards, travel and such, but it does. When Americans spend, companies prosper, employees prosper and other nations prosper. We’re holding our cards instead and sock drawing many.
Sorry for the misspellings in the above message. That’s what happens when I don’t use my reading glasses when I should. Yikes.