As you read about here a couple of months ago, the Chase Sapphire Preferred hit the biggest public offer ever – 80,000 points after meeting the different spending thresholds. Now, it is back to the normal 50,000 points. But, there are a couple of reasons that I believe we may see a huge Chase Sapphire Preferred offer soon.
Why There Might Be a Huge Chase Sapphire Preferred Offer Soon
The Normal Chase Sapphire Preferred Offer
The normal Chase Sapphire Preferred offer is 50,000 Ultimate Reward points after spending $4,000 in 3 months. With this offer, the annual fee of $95 is waived for the first year.
Reason 1: The 24 Month Rule on Bonuses
Chase has gradually been tightening things up to protect against card churners. I think they are feeling quite a bit more confident with this protection lately.
The 24 month rule is this (from Chase): The product is not available to either (i) current cardmembers of any Sapphire credit card, or (ii) previous cardmembers of any Sapphire credit card who received a new cardmember bonus within the last 24 months.
This means that if you have had the Chase Sapphire Preferred or Reserve bonus in the last 24 months, you are ineligible for the bonus again – on either card.
Guess what is coming up soon? The 24 month anniversary of the launch of the Chase Sapphire Reserve – arguably the most fantastic credit card release and bonus ever! This card saw massive adoption by people – not just those of us in the travel space. This came in spite of the $450 annual fee upfront. Chase had admitted that this card was far more popular than they had even anticipated (they had hoped to have 100,000 customers in the first year – they got that in 2 weeks!).
This means that decks have been cleared of a whole of people who may otherwise want a Chase Sapphire Preferred with a big offer. Everyone who received the Chase Sapphire Reserve in the first two weeks will soon become eligible to get a bonus on a Sapphire product (if they are under 5/24). If Chase wanted to bring in a new flock of customers to their Sapphire family, that time is within the next 4-6 weeks.
Reason 2: Huge Offer Trialed?
As I said, we saw the 80,000 point Chase Sapphire Preferred offer not long ago. You may not have seen it on many other blogs because it was only available directly from Chase – not through affiliates. Also, it lasted only about a month or so.
Chase has done this before – launched an offer that was available publicly for a short time and then pulled. It helps them to see how popular it might be before deciding whether to make a bigger launch.
If they really wanted to get that offer out, they would push it out into the affiliate channels. This would cost them a lot more in payouts for affiliates (over $150 per successful application) but it would ensure that people would hear about it instead of just stumbling upon on their website.
Reason 3: Rumors
I have heard from a couple of people at Chase as well that there had been talk about bumping up the Chase Sapphire Preferred offer soon. My guess is they may launch the 80,000 point offer again with the two tiered spending but I think they could also be tempted to put 80,000 points out there with just $4,000 in spending. Again, this would take customers that did not jump on the Chase Sapphire Reserve and it would also keep the new customers they pick up from such a 80K offer from getting another Sapphire offer in the next 24 months.
There is one more rumor – Chase may increase the bonus again on the Chase Sapphire Reserve. It takes them a long time to recuperate their output on that card but they could bump it up to 60,000 points or 80,000 points. Again, this would not be available to anyone that has already signed up for the Chase Sapphire Reserve card (since that was just launched 24 months ago).
Does This Matter?
I know many people have moved on from Chase because of the 5/24 rule. There are a lot of cards out there to get and it may not make sense for some of you to sit on the sidelines to get under the 5/24 just to get Chase cards.
But, there may be some of you now that are thinking about jumping on the new World of Hyatt card or considering a different credit card. If a huge Chase Sapphire Preferred offer would be of interest to you, it could be worthwhile to wait a couple of weeks. I certainly cannot say for sure that this will happen but I wouldn’t be surprised. If any offer you are currently eyeing will still be around for a bit, maybe hold off to see.