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The spending requirement is back to $3,000 in 90 days
It was all over the blogs last weekend that the Chase Sapphire Preferred offer was going to change as of Monday. Some people thought it was going to be a drop similar to the one earlier this year (when it went from 50,000 points to 40,000 points) and others thought it might be an increased spending threshold change (to put it more in line with the recent change on the INK Bold that went from $5,000 in 3 months to $10,000 in 3 months to get all 50,000 points). I personally thought that it was going to change to a similar format of the INK Bold offer – 20,000 points after 1st purchase and the other 20,000 points after spending $5,000 in 3 months.
It was a pleasant surprise when the change that occurred was actually a lower spending requirement for the 40,000 points. It is now at $2,000 instead of the previous $3,000 spending in 3 months. This helps many people who may have been holding off due to worries that they may not meet the spending. In fact, I would guess that is exactly why Chase lowered it. American Express has their Premier Rewards Gold card threshold at $2,000 in 3 months (although for a lower 25,000 point bonus) and Chase has certainly been attacking American Express hard. Since the Sapphire Preferred is a Signature Visa card, it requires a minimum of a $5,000 credit line and fairly good credit to be accepted for it, so lowering the minimum doesn’t mean it will allow everyone to get in on it, but it does mean that it will help those who may be on the fence about it to go ahead and get it.
Here is an overview of the card that I did earlier this year to give you an idea of how good it is and what is available with it – link.
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