Chase has today increased the bonuses on their Sapphire cards, with both the Chase Sapphire Preferred and Chase Sapphire Reserve offering elevated bonuses that make this a good time to go after whichever best suits your needs if you qualify.
The Offers & Key Card Details
| Card Offer and Details |
|---|
60K points ⓘ Affiliate 60K after $4K spend in 3 months$95 Annual Fee Alternate Offer: There may be elevated offers available by applying in-branch A similar offer with the first year annual fee waived may be found in-branch. YMMV. 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. Earning rate: 5X Travel booked through Chase Travel℠ (2X all other travel) ✦ 3X Dining ✦ 3X Select streaming services ✦ 3X Online grocery ✦ 5X Lyft (through March 2025) ✦ 10% annual point bonus Card Info: Visa Signature issued by Chase. This card has no foreign currency conversion fees. Noteworthy perks: Primary auto rental collision damage waiver ✦ Free DashPass through 2025 ✦ Transfer points to airline & hotel partners ✦ $50 annual credit for hotel stays booked through Chase ✦ $15 quarterly Instacart credit ✦ 6 months free Instacart+ |
| Card Offer and Details |
|---|
65K Points ⓘ Affiliate 65K after $4K spend in 3 months$550 Annual Fee Alternate Offer: 70K after $4K spend showing on some accounts when logged-in to Chase Recent better offer: Expired 12/1/22: 80K after $4K spend FM Mini Review: Excellent all-around card for frequent traveler. Best when paired with no-fee Chase Freedom Flex, no-fee Freedom Unlimited & no-fee Chase Ink Cash Click here for our complete card review Earning rate: 10X hotels & car rentals booked through Chase Travel℠ ✦ 10X Chase Dining ✦ 5X flights booked through Chase ✦ 3X Travel and Dining ✦ 10X Lyft (through March 2025) Card Info: Visa Infinite issued by Chase. This card has no foreign currency conversion fees. Noteworthy perks: $300 Annual Travel Credit ✦ Points worth 1.5 cents each towards travel when booked through the Chase Travel(SM) Portal✦ Transfer points to airline & hotel partners ✦ Primary auto rental collision damage waiver ✦ Priority Pass Select lounge access ✦ Up to $100 Global Entry fee credit ✦ $5 monthly DoorDash in-app credit through December 2024 ✦ Free DashPass through 2025 ✦ Earn 10X on Lyft spend✦ Free Lyft Pink All Access Memberhsip through December 2024 ✦ $15 monthly Instacart credit ✦ 12 months free Instacart+ See also: Chase Ultimate Rewards Complete Guide |
Quick Thoughts
These bonuses are both excellent and are the highest we’ve seen in recent memory (the Sapphire Reserve famously offered 100K points when it debuted about 4.5 years ago, but it has mostly featured a 50K bonus in the years since).
Of utmost important, you’ll need to be under 5/24 to qualify for these offers.
| 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. |
Also keep in mind that a new cardmember bonus on either Sapphire card is not available to those who currently have a card in the Sapphire family or who have received a new welcome bonus on a Sapphire product in the past 48 months.
However, if you do qualify, these offers are as probably as good as it gets in terms of Ultimate Rewards points for spend. I think that most people who don’t have an immediate need for using Ultimate Rewards points at a value of 1.5c each would be better off going after the additional points (and lower fee) of the Chase Sapphire Preferred for now with an eye to upgrade to the Reserve down the road when it makes sense for your travel patterns.
On the other hand, keep in mind that the Sapphire Reserve comes with $300 in travel credits that can be used on gas and grocery purchases through June 30, 2021 and a $60 DoorDash credit that is valid through 12/31/21. You can also get up to $120 in statement credits with Peloton digital or all-access memberships and a year of Lyft Pink. Depending on how you value all of those benefits this year, the effective fee on the Sapphire Reserve may be considerably less than the sticker price.
Either way, it is hard to go wrong as these cards offer nice bonuses and the ability to transfer to Chase transfer partners. For those who won’t hold the Chase Ink Business Preferred, one of these two cards is your path to value through partners. Opening that door wile the bonus is increased is wise for those who qualify.
H/T: Doctor of Credit
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Hi Nick – I took advantage of the 100k Saph Reserve offer back in 1/2017. I believe my 100k arrived in April sometime but not entirely sure. I canceled the Reserve about a month ago when I heard about this deal. I am below 5/24 and intend to take advantage of the 80k offer, but am afraid it will backfire if hypothetically I got the 100k in early May 2017 (just under 4 years). Is there a way to check when I got the 100k? Also, does Chase typically give some notice when they will stop these lucrative offers, or will it just suddenly drop? Thanks!
Thanks for the post Nick, Greg and FM team. And thanks for the previous post a week or so ago tipping off the 80k + $50 increase was coming this week. P2 was just approved.
Used the Frequent Miler referral link since I messed up and upgraded my Preferred to a Reserve just a few weeks ago. Should have saved a referral link prior to upgrading (might have worked at least). Happy to give you guys the referral though.
Quick question my credit is locked so you happen to know who chase uses so I can unlock my credit
Which Credit Bureau Does Chase Pull? – Doctor Of Credit
Also, when I applied in the branch, I had forgotten to unfreeze all three of my accounts beforehand. The rep let me choose which credit bureau I wanted to use. YMMV
I have a chase card in my wallet that I’ve had for 15 or more years called the Chase Sapphire (not preferred or reserve branded). Would I be eligible for one of these cards even though mine is in the Sapphire family? I was able to get the 100,000 reserve bonus when it launched.
See my response to the comment above yours.
Thanks Nick, we’ve kept the old sapphire because we thought the length of time we’ve had it would help with our credit score. Would product changing keep the history of the old card or is it considered a new account? Thanks!
Product changing keeps the old credit history. Same card number, just the expiration date and security code on the back are different.
I had the CSP over 4 years ago, then downgraded to no fee Sapphire. Does the no fee Sapphire matter if I am applying for new CSP?
Yes, it does matter. You need to first product change that to some sort of Freedom (Freedom Flex or Freedom Unlimited. Doesn’t matter which and doesn’t matter if you already have one — you can have more than one of the same card, you just can’t have a Sapphire card when you apply for the CSP and you should probably wait a week after product changing before applying again.
ok! Thanks.
Hmmm….if P2 is an authorized user on my sapphire and I got the SUB less than 48 months ago, then is P2 eligible for the new SUB?
Yes.
Thank you!
For the record, I can’t think of any situation at all where being an authorized user will ever effect that person from getting a welcome bonus as a primary account holder (except that AU accounts will initially count against 5/24, but you can usually get them to ignore them on a reconsideration call if the AU makes it clear that they are not financially responsible for the account).
I just went through all of this with my CSP application reconsideration this morning (was initially denied because of 5/24, including AUs). Be prepared when the rep asks if you, as an AU, are financially responsible for the account…just say NO!
I currently have the sapphire reserve, am over 48 months since receiving the signup bonus, and 4/24.
1) I also currently have a Chase Freedom and Freedom Unlimited. Will I be allowed to downgrade my Reserve to a duplicate Freedom product?
2) Will I receive a prorated annual fee refund if I cancel my Reserve?
3) After downgrading or cancelling my Reserve, how long do I have to wait before I reapply?
1) Yes, that has long been possible.
2) I believe you will.
3) Conventional wisdom is to wait at least a week. I usually recommend 2-3 to be safe. You need to make sure that the system recognizes you as not having the card and it’s not conclusive exactly how long that takes, but it’s not typically instant.
I just did this. I got a prorated refund of my CSR fee (paid in Sept). I don’t know how long the minimum wait time before reapplying is, but I cancelled my CSR about a week before I applied for the CSP and was approved.
I had downgraded my CSR to a CFU on Mar 13 with the intent of applying for a CSP the following day. Even though the Chase website reflected the product change, my application was immediately denied as their records still showed I held a Sapphire product. It may have been because I had downgraded on a Saturday and I needed to wait until a weekday to apply for the new card. But lucky for me, I read about the increased SUB before I had a chance to reapply.
Regarding the refund of the annual fee: The rep said it would be prorated, but lo and behold, I got the entire fee back, which I had paid back in January.
Yeah, a day isn’t long enough whether a weekday or weekend. This is why I always advise a week at minimum. Your online login will reflect the product change right away, but it isn’t out of the Chase system yet.
I sent a secure message to chase to initiate a product change from Sapphire to Freedom Flex and received the response below. Any concern about their use of the term “detailed review”?
I am glad to assist you with your inquiry about switching your card to a Freedom Flex credit card.
David, we’re happy to help you change your account to our Freedom Flex credit card, but we cannot do this by email because it requires a detailed review of your account and additional questions. Your account will be reviewed and you will receive a pro-rated annual fee refund for your Sapphire Reserve credit card.
Please call us at the number on the back of your card to get started. We accept operator relay calls. We appreciate your business and thank you for being a Chase customer.
Unfortunately only 60k still for referrals. D’oh! Would be nice if they’d offer the 80k to those that are referred from an existing cardholder!
What a shame. 15k referral + 60k SUB < 80k new offer. Referrals may be quiet for a while.
Two Questions:
1) No, I don’t know.
2) I haven’t seen conclusive evidence. DoC post says yes, but one commenter says they called and the branch said no waived fee. Others said it wasn’t clear whether the waived-fee in-branch offer qualifies for the $50 grocery credit. YMMV.
You still get the $50 grocery credit when you apply at the branch.
I just applied in the branch, and the $95 annual fee is waived for the first year.
I also applied at my Chase branch and received the $50 grocery credit with the $95 fee waived for year one. Thanks!
Interested in the Preferred for P2, who previously had one and dropped it several years ago. Any easy way to pinpoint when the original bonus was posted to ensure it’s outside of the required 48 months?
Chase will put your application in pending status if received bonus in past 48 months. When you call or wait for the letter, they will tell you and ask if you want to proceed.
Thanks for the quick timely update.