One often-overlooked perk of the Chase Sapphire Preferred Card® is its account anniversary bonus: “Earn bonus points that equal 10% of your total spend in points” based on spend in your cardmember year.
You don’t get extra points for bonus categories like dining purchases or travel, so it effectively adds an extra 0.1x to all your spend. If you spend $25,000 during the year, you’ll get 2,500 bonus points.
Unfortunately, Chase is ending this perk on October 1st, as Greg found out via the following note in his Sapphire Preferred account this morning:
Quick Thoughts
I doubt that not earning an extra 0.1% on your yearly spending will be a deal-killer for most folks who hold the Sapphire Preferred card. I imagine there were quite a few cardholders out there who had no idea that they had it in the first place. That said, we always hate to see perks die, and this was a nice sweetener for folks who spent a decent amount on the card.
More than the loss of the bonus itself, it makes me wonder if we’ll see Chase tinker more with the Sapphire Preferred in 2026…especially by closing the gap between its $95 annual fee and the $795 annual fee on the ultra-premium Sapphire Reserve Card. This is the only change that we’ve heard about so far, but I’ll be curious to see what else, if anything, emerges between now and October 1st.
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I used to put my dining on my Bilt card. With the Palladium only giving 2x on dining, I started putting dining on my Preferred card primarily because of the 10 percent points rebate. If this truly comes to pass, I will have to rethink. I just love playing Monopoly when the rules change every 15 minutes.
My annual fee just renewed, so this isn’t an immediate problem for me, but I will say, if Chase makes big changes to the CSP (including raising the annual fee) then I will happily move all my points out, downgrade to a CFF, and let the Bilt Obsidian be my full CSP replacement.
Seriously? All of the blogger say that the Bilt card is a train wreck. It’s so confusing. Article after article told us so. Or . . . maybe they were wrong.
Nope. The rollout was a disaster, CS sucks, and they’ve built in a bunch of customer unfriendly rules…but the points still work well and I don’t think anybody disputes that.
Agree that BILT points work well, the risk is if/when BILT stops working. There is a recent WSJ report that BILT 2.0 is entirely funded by all those private credit funds, which became market focus for all the wrong reasons recently. In fact, Blue Owl almost pulled the plug at the last minute, the whole deal only came together shortly before BILT 2.0 Feb 7th launch.
I have Palladium, but at this moment I hesitate to make BILT my main point source, and I am always devising an exit plan from the BILT points system should that becomes necessary.
Do you think they’re announcing this in waves – because my account doesn’t say this. It still says I get the bonus at my anniversary date in January 2027. I just downgraded from the CSR in Jan 2026 – so wonder if they’re honoring at least the one year.
they removed the announcement after this morning so it’s no longer there. No idea if error or if someone pushed it out too early.
Thanks. I’ll keep an eye on it. I saw it in a bunch of reddit posts this am, but wasn’t able to confirm in my own account.
Go to redeem points then view points activity, that’s were Greg saw it.
I definitely don’t have it. Can send a screenshot if you like.
This is really interesting. The message disappeared from my account.
The Chase mystery…I’m sure it will go away. It’s just a matter of when. Someone probably launched it too early by mistake.
Upgraded Points site quotes Chase as saying that yes, it is going away.
Thanks – just gave it a read.
AwardWallet too: https://awardwallet.com/news/chase-ultimate-rewards/chase-removing-sapphire-preferred-anniversary-bonus/