If you were thinking of the Chase Sapphire Preferred anyway and think you can spend $20,000 over the next year, now would be a great time to apply. There is currently an offer where you can earn an unprecedented 80,000 Chase Ultimate Rewards bonus points. The details are, as with the normal offer, you earn 50,000 when you spend $4,000 on purchases in the first 3 months after account opening. And now earn an additional 30,000 bonus points after you spend $20,000 on purchases within your first year of account opening Click here for the link to this offer.
There is $0 introductory annual fee the first year, then $95
As for earning points, you earn 2 points on Dining and travel like airfare, hotels, cruises, rental cars, travel agencies, train tickets, taxis, tolls and more. (Click here for a complete definition of travel from Chase)
What can you do with your Chase Ultimate Rewards points? At the very minimum, redeeming these points on the Chase travel site will yield you at least $1,000 in free travel as Ultimate Rewards points are redeemed at 1.25 cents per point with a Chase Sapphire Preferred card. You can possibly get more value if you transfer them to one of Chase Ultimate Rewards transfer partners. Get the full details of what you can do with your points here.
Caveats….
First, if you have a Chase Sapphire Reserve like I do, you cannot get a Preferred card too. Chase only allows you to have one Sapphire product. However, if you can’t take advantage of this because you are already a Reserve holder, consider your spouse. I may have Rob apply for this offer in that we have one more year of sleep away camp to pay for and meeting the 20K will be unfortunately easy!
Second, hope that you are not limited by the 5/24 rule. The rule states that if you have gotten five new credit cards within the past 24-months FROM ANY BANK NOT JUST CHASE, you will not be approved for a new Chase credit card application.
As always, if you apply and your application comes back as pending, don’t forget to use my tips to get your application through like asking to have a portion of your credit transferred from one of your other cards from the same bank or asking for a smaller credit limit.
Good Luck! I will let you know if and how, I can nail this offer down for us.
