Chase Sapphire Preferred 80K Offer – Should you go for it?

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Chase Sapphire Preferred 80K

In light of the new Chase Freedom Flex and new capabilities for the Freedom Unlimited (5X travel through Chase, 3X drugstore, 3X dining), I’ve argued that Chase was going to have to significantly enhance the card to make it attractive again.  Chase had other ideas.  Instead of improving the card itself, Chase has improved the Sapphire Preferred welcome bonus: Earn 80K points after $4K spend in the first 3 months (the previous offer was for 60,000 points).

80,000 points is worth $1,000 when redeeming points for eligible purchases via Pay Yourself Back or for purchasing travel through the Chase Ultimate Rewards® portal.  The value gets even better if someone in your household has the Sapphire Reserve because it’s possible to move points to the Sapphire Reserve account in order to get 1.5 cents per point value.  80,000 points with the Sapphire Reserve is worth $1,200 via Pay Yourself Back or for travel booked through Chase.

Chase Ultimate Rewards Points earned with the Sapphire Preferred card can also be transferred to airline and hotel partners.  Personally, I regularly transfer points to Hyatt for fantastic value.  See our Chase Ultimate Rewards Complete Guide for information about transfer partners and much more.

Basics

Card Offer and Details
Chase Sapphire Preferred® Card
60K points
60K after $4K spend in 3 months

$95 Annual Fee

A similar offer with the first year annual fee waived may be found in-branch. YMMV.

Recent better offer: 100K after $4K in purchases in the first 3 months

FM Mini Review: Great signup bonus. Unlocks ability to transfer points to hotel & airline partners. Solid option to pair with fee-free Ultimate Rewards cards such as the Freedom cards, Ink Business Cash, and Ink Business Unlimited.


Card Type: Visa Signature

Base
Travel
Dine
Other

Earning rate: 5X Travel booked through Chase (2X all other travel) ⚬ 3X Dining ⚬ 3X Select streaming services ⚬ 3X Online grocery ⚬ 5X Lyft (through March 2025)

Noteworthy perks: Primary auto rental collision damage waiver ⚬ Free DashPass through 2025 ⚬ Transfer points to airline & hotel partners ⚬ 10% annual point bonus ⚬ $50 annual credit for hotel stays booked through Chase (Those who opened card before 8/15/21 will have to wait until next account anniversary for this perk)

See also: Sapphire Preferred 100K Q&A: Everything you need to know

Are you eligible?

To get this card, you must not be a current Sapphire Preferred or Sapphire Reserve cardholder, and at least 48 months must have passed since you last received a new cardmember bonus for the Sapphire Preferred or Sapphire Reserve card.  Plus, you must be under 5/24.

Chase’s 5/24 Rule: With most Chase credit cards, Chase will not approve your application if you have opened 5 or more cards with any bank in the past 24 months.

To determine your 5/24 status, see: 3 Easy Ways to Count Your 5/24 Status. The easiest option is to track all of your cards for free with Travel Freely.

How to apply

You can always find the best current welcome bonus offer and application link at the top of our Chase Sapphire Preferred Complete Guide.

Application status

After you apply, you can call (888) 338-2586 to check your application status.

Reconsideration

If your application is denied, I recommend calling for reconsideration (1-888-270-2127). It’s surprising how often denials can be changed to approvals just by asking.

Should you apply?

Chase is offering a terrific welcome bonus for the Sapphire Preferred.  If you can qualify for the card, then yes it makes sense to apply.

My primary hesitation to recommending this to everyone who can qualify is the possibility that Chase will soon follow with a 100K Sapphire Reserve offer.  To be clear: I don’t have any inside knowledge that this will happen.  I’m just guessing that it might.  Signing up for the Sapphire Preferred makes you ineligible to sign up for the Sapphire Reserve (and vice versa).

Another consideration: The Sapphire Reserve card is harder to get approved than the Sapphire Preferred.  Chase requires a minimum of a $10K credit line for the Sapphire Reserve, compared to only $5K with the Sapphire Preferred.  If you think you might not get approved for the Sapphire Reserve anyway, then it doesn’t make sense to wait for a possible better offer.

My recommendation:

  • If you’re confident that you can get approved for the Sapphire Reserve, then wait a bit to see if Chase announces an increased bonus for that card.  We don’t know when the Sapphire Preferred 80K offer will end, though, so it’s a game of chicken… How long should you wait before losing the chance for this 80K offer?  My guess is that it’s safe to wait approximately 3 weeks.  If we don’t see an improved Sapphire Reserve offer by October 5, then consider jumping on the Sapphire Preferred offer.
  • If you think that you’re much more likely to get approved for the Sapphire Preferred over the Sapphire Reserve, then there’s no reason to wait.  Go for it.

Is the Sapphire Preferred worth keeping long term?

The Sapphire Preferred is a very good companion to the fee-free Ultimate Rewards cards (Freedom and Ink cards) because it unlocks the ability to move points to airline and hotel partners.  That said, many would be better off with either the Chase Ink Business Preferred or the Chase Sapphire Reserve, both of which would serve the same function.  The Sapphire Reserve card is much more expensive, but it also adds more valuable perks including the ability to redeem points for 1.5 cents each (vs. 1.25 with the Sapphire Preferred or Ink Business Preferred).  Due to the size of this welcome bonus, even if you’d prefer to have the Sapphire Reserve, it may be worth signing up now for the Sapphire Preferred and upgrading to the Sapphire Reserve a year later.

What if you applied recently for the 60K offer?

If you applied for the Sapphire Preferred 60K offer within the last 90 days, it is likely that Chase will be willing to match you to the improved 80K offer.  I recommend calling or sending a secure message to ask for a match.

Bottom Line

This is a great welcome bonus.  80,000 points are worth a lot whether you redeem them for cash ($800), redeem for travel ($1,000), Pay Yourself Back ($1,000), or transfer to airline or hotel partners for even more potential value.

In my household, I think it’s very likely that my son will apply for the card.  After a year, he’ll most likely downgrade to the fee free Freedom Unlimited or Freedom Flex (if they allow that product change path).  My wife, meanwhile, will wait a few weeks to see if Chase decides to increase the Sapphire Reserve welcome bonus.  I think that a 100K offer is possible and I think that she’s likely to get approved.  We’ll see!

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Alex

I waited till the last day to decide on this offer. Hope you guys can help me check my chances.

Below 5/24 – check.

Last Sapphire bonus posted on statement closed 7/18/16. That should be good – a bit over 4 years.

Downgraded CSR to Freedom Flex on 10/20/20. Currently do not have CSR or CSP.

Do I qualify for the bonus?

Kartik

I applied for Sapphire preferred on 15th September and they are still rejecting me for 80k bonus points saying the offer was not valid on 15th September. I am sending them a link to your post to show that people were already writing about it. Such petty behavior from chase was not expected. I already called them 2-3 times, their marketing team sent me a letter that i am not eligible for 80k bonus points. I sent them a secured message with the screenshot of this article.

[…] The Sapphire Preferred card has always been one of my top picks with it’s usual 60K offer, but now the offer is 20K sweeter.  Read more here: Chase Sapphire Preferred 80K Offer – Should you go for it? […]

[…] Chase Sapphire Preferred 80K Offer – Should you go for it? […]

[…] my post analyzing the new Sapphire Preferred offer (Chase Sapphire Preferred 80K Offer – Should you go for it?) I suggested waiting a few weeks to see if Chase increases the Sapphire Reserve offer.  You […]

[…] Rather than taking my advice to add 3X categories to make the Sapphire Preferred attractive again, they decided to apply some lipstick.  Don’t get me wrong… 80K points is a lot of beautiful lipstick!  But, should you go for it?  See this post: Chase Sapphire Preferred 80K Offer – Should you go for it? […]

JayP

I’ve been thinking of downgrading my CSR. Account has been open over 4 years. If CSP match to 80k or increased referral happens, I’m thinking: Downgrade my CSR to CSP, refer P2 and get the 80k through improved referral bonus or match. Cancel my card then have P2 refer me (is there a time frame on cancel/reapply?)
Does this seem workable?

[…] Chase has recently increased the welcome bonus for the Sapphire Preferred card to 80,000 points after $4K spend.  The previous offer was for 60K points.  Read more about the new offer here: Chase Sapphire Preferred 80K Offer – Should you go for it? […]

Gene

This feels like an attempt to lure people away from the CSR. They have to be losing a lot of money on that card right now. It’s also no coincidence they’re offering it right when the first CSR holders are eligible for a new bonus. I wouldn’t expect to see changes to the Sapphire cards anytime soon.

Brian

I sent a secure message asking for a match (got the card about 80 days ago). No dice.

WrightHI

I’m pretty mystified by Chase’s strategy at this point. This makes the CSP an even better candidate to grab for the bonus and hold for a year but does nothing to fix its much-reduced competitiveness for wallet space. I’d like to hope there are enhancements coming to both CSP and CSR, maybe with a fee increase for CSP, but maybe they’re not even thinking beyond customer acquisition right now.

Jules

My thoughts exactly.

Preacher

Are referral links generating the 80K offer yet?

Stannis

Just checked my wife’s referral and it is still 60k. Is it likely to be updated? Otherwise, maybe applying via the referral and then calling to ask for the bump to 80k might work?

Jerry

Greg, I know this is not the gist of this article, but I am finding hotel point values overall – to be worth far less than commonly valued. Particularly with Hyatt. Other than a small handful of domestic Hyatt properties offering decent to good value, 90% of the properties are by-in-large not worth redeeming points for. virtually all cat 2 to cat 6 properties are at or below 1cpp in value. slightly better with the points rebate. While I do think that will change once covid subsides.The chase portal seems the way to go right now for hotel bookings, or better yet booking with cash.

Jerry

I am driving this week from NY to FL and about 90% of hotels on my route down I-95 (with exception of many cat 1 hyatt properties at 2cpp or more) The cat 2-cat 6 properties are Predominantly yielding 1cpp or just below that.

ithrowpoop

Because you’re not using the program right. Acquiring Hyatt points for cat1 along backroads in rural US? Uh…rest of us use hyatt points in Tokyo, Paris, China etc during holiday season. Check andaz in tokyo, where I went last xmas, it’s currently 1.9 to 2cpp for xmas 2020. Last xmas it was over 2cpp. I got a suite in asia this past January that was valued at 3.7cpp.

Alan

I got the card 2 weeks ago, just called to see if they would match the 80,000 offer, a flat out NO. Disappointing.

psh

Try again…

Santiago Speranza

Application link still not live?

voyager

If I get the welcome bonus and convert it to SW rapid rewards points, they won’t count towards the companion pass, will they?

Dan

Points transferred from UR cards to Southwest do not count towards the companion pass.

voyager

thanks, i figured that would be too good to be true lol

Cov

I think Chase is really wanting to drive people to the CSP in lieu of the CSR, especially as many hit the 48+ months since the last sapphire bonus.

Separately, I don’t think this precludes changes to the CSP. Chase increased the bonus on the freedom cards before announcing changes.

Jules

Why would chase want to shift current CSR card holders to the CSP? I don’t see the logic there.

Cov

I should have been more clear… chase probably wants to shift applications to the CSP vs the CSR.

To elaborate as the CSR was released in August 2016, a ton of people are approaching 48+ months since their last sapphire bonus. It’s widely expected that many of these people will be making new applications for sapphire cards in the coming months. Even with only a 50k bonus, the CSR is known to be very expensive for Chase. So if chase is expecting a bunch of new sapphire applications, it would make sense to drive them toward the more profitable of the two cards, especially if retention metrics indicate that people will keep the card for several years. The additional 20k over the current CSP bonus (i.e. 80k vs 60k) is not that much spread over say four years.

Jules

Thanks for clarifying and I see what you’re saying now. However, that would appear to be a poor strategy on Chase’s part given that these existing CSR card holders who’ve held onto the card for 48+ months, would cancel now, get the 80k sign bonus for the CSP, and then just product change back to the CSR a year later.

paul

Do you know if Chase would retro apply the offer? I literally just applied for the CSP and got the card last week…

Dan

They did match the grocery bonus for the old Freedom (I had applied a month before that was announced), and I saw the bonus points post retroactively this month.

Ramon

Chase did not match the grocery bonus for me.

Paul

No luck. I read a bunch of comments from doctorofcredit seems likely nobody is successful at getting the new offer matched

Larry K

Pretty nice timing since many are coming up on 48 months since getting the reserve bonus back in 2016.

Jules

This is really disappointing for existing CSP card holders (especially those with an annual fee due this month). Was really hoping they would revamp the bonus categories to include groceries and/or gas. Now I don’t see any reason not to downgrade to the CFU.

Dan

I’m still skeptical Chase will offer 75K-100K on the CSR because they lost so much money on it the first time. Plus, Chase obviously knows that people who got the 100K will soon be eligible to get a new one and that the process currently would not be super difficult.

That said, maybe Chase is countering that by trying to time elevated CSR/CSP bonuses to periods when, practically speaking and possibly even based on customer acquisition data, they will only be available to “truly new customers.”

Lynn

Agreed! I wouldn’t wait for that.