The Chase Sapphire Preferred is back again today after being taken down yesterday and, much like everyone thought, it is back with an increased spend requirement. The spend requirement has gone from $3,000 in 3 months to $4,000 in 3 months. Truth be told, that is not a huge amount, especially compared to the Barclaycard Arrival Plus when it jumped up to $3,000 from $1,000. This increase in spending actually puts it in line with the Chase Ink Plus (as far as basically requiring $1,000 in spend for each 10,000 bonus points), but it is still disappointing to deal with.
Chase Sapphire Preferred Referral Bonus
But, the good news is that the update also brought back the Chase Sapphire Preferred referral program. This is your opportunity to earn 5,000 Ultimate Reward points (up to a total of 50,000) for every person that signs up for (and is approved for) the Chase Sapphire Preferred. That is a nice plus for you and your friends/family. Your friends/family will get 40,000 Ultimate Reward points after spending $4,000 in the first 3 months.
Here are the details:
- You will receive 5,000 bonus points for each friend you refer through this Refer A Friend site
- The friend must be referred by 1/31/2015 (up to 10)
- The friend must be approved and make a First Use of the card by 5/31/2015.
- Maximum bonus point accumulation for this offer is 50,000 bonus points.
- We may provide you with future opportunities to earn bonus points by referring your friends to Chase Sapphire Preferred. You may earn bonus points up to the stated maximum for each offer, however, please note that if you take advantage of multiple opportunities within one calendar year that the maximum number of bonus points that can be awarded from all referral offers is 50,000 per calendar year.
That last part is important – do your best to try and get as close to the limit of 10 before the end of the year. That is because you will only get a max of 50,000 points per calendar year. If you can get the max (and meet the requirements) before December 31, you will be eligible for a similar promotion next year.
Do You Have a Sapphire Preferred Yet?
If you do not have a Chase Sapphire Preferred yourself yet, you can sign up for one through my link above. Like the referral offer above, you will get the following:
- Earn 40,000 bonus points when you spend $4,000 on purchases in the first 3 months from account opening. That’s $500 in travel when you redeem through Chase Ultimate Rewards(SM)
- Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening.
- 2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases
- No foreign transaction fees, plus Chip and Signature enabled for international travel.
- 1:1 point transfer to leading frequent travel programs at full value – that means 1,000 Ultimate Rewards points equal 1,000 partner miles/points.
- 24/7 direct access to dedicated customer service specialists
- Introductory Annual Fee of $0 the first year, then $95
The nice bonus is that you will still earn 5,000 bonus points (on top of the 40,000) for adding an authorized user and making a purchase.
End of the day, the Chase Sapphire Preferred gives a very nice bonus. After meeting the spending requirement and adding an authorized user, you will end up with 49,000 Ultimate Reward points. That is a good amount of travel!