You still have time to earn 100,000 Chase Sapphire Preferred Bonuses

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Despite the odds and expert predictions, the best credit card deal is still going strong.

But there’s not much time left – a representative from Chase confirmed to NextAdvisor that the last day to score the current 100,000 point bonus on the Chase Sapphire Preferred® card is Wednesday, October 6. The bonus is available to new applicants after spending $ 4,000. during the first three months, and went live in June.

This is 40,000 points more than the standard bonus of the card, with the same minimum spending requirement. According to Chase, 100,000 bonus points are worth $ 1,250 when you redeem them for travel through the Chase Ultimate Rewards portal. This sweetens the deal on what we already consider to be the best credit card with annual fees of less than $ 100.

Since the start of the offer, there were signs that this 100,000 point bonus would not last long. We’ve seen equally great offers in the past that only lasted a few months, and experts we spoke with over the summer also predicted that the bonus would have expired already.

Additionally, in August, Chase introduced a list of new perks to the $ 95 Sapphire Preferred, as well as its more premium sister card, the $ 550 Chase Sapphire Reserve®. Sapphire Preferred cardholders can now earn:

  • 5x points on all trips purchased through the Chase Ultimate Rewards portal
  • 3x points on meals (including eligible delivery and takeout services), certain streaming services, and online grocery purchases
  • 2x points on trips not purchased through Chase
  • 1 point per dollar on everything else

Cardholders also receive an annual credit of $ 50 on hotel stays purchased through the Ultimate Rewards portal and an annual points bonus equal to 10% of your overall annual spend. In other words: between a dizzying bonus offer and new perks, all for the same annual fee of $ 95, it’s a pretty exceptional decision from Chase.

How long will the 100,000 Sapphire Preferred point bonus last?

Now that the Sapphire Preferred bonus has lasted beyond expectations, it’s a little harder to estimate how long you’ll still need to sign up if you’re still considering the card. DansDeals.com and The Points Guy (who, like NextAdvisor, is owned by Red Ventures) first reported on Monday that Chase had confirmed the offer would expire on Wednesday, October 6.

“I would have thought something should have given way,” said Ted Rossman, senior industry analyst at CreditCards.com (which is also owned by NextAdvisor’s parent company, Red Ventures). Rossman thought Chase could have introduced a lower signup bonus, a higher annual fee, or eliminated Pay Yourself Back. “I am pleasantly surprised on all fronts,” he says.

Pay Yourself Back is a feature introduced by Chase at the start of the pandemic, which allows Sapphire Preferred cardholders to redeem their Ultimate Rewards points for things other than travel with the same value increased by 25%. But instead of letting the benefit expire, Chase extended the program until Dec.31.

One of Sapphire Preferred’s main competitors, the Capital One Venture Rewards credit card, recently reduced its welcome offer from 100,000 miles to 60,000 miles – the standard Sapphire Preferred bonus, says Rossman. This could signal that the days of the 100,000 point Sapphire Preferred bonus are numbered.

Still, Rossman believes Chase is happy with the performance of Sapphire Preferred’s bonus offering. He predicts that the potential long-term value of the new cardholders the offer attracts may be worth all of the potential short-term losses caused by the disproportionate value of the bonus.

If you’re wondering whether or not to take the plunge, Rossman says, “Go ahead, because this is a great offer and we don’t know how long it’s going to last. “

  • Introductory bonus:
  • Annual subscription :

    $ 95

  • Regular APR:

    15.99% – 22.99% Variable

  • Recommended credit:

    670-850 (good to excellent)

  • Learn more external link icon on our partner’s secure site.
  • Introductory bonus:
  • Annual subscription :

    $ 95

  • Regular APR:

    15.99% – 23.99% (variable)

  • Recommended credit:

    670-850 (good to excellent)

  • Learn more external link icon on our partner’s secure site.
  • Introductory bonus:
  • Annual subscription :

    $ 550

  • Regular APR:

    16.99% -23.99% Variable

  • Recommended credit:

    740-850 (Excellent)

  • Learn more external link icon on our partner’s secure site.
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About Joan Ferguson

Joan Ferguson

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