Update: Today is the last full day to get the 50K preferred or 25K non-preferred offers for the Sapphire card!
Originally posted on 03/30:
I just received word that the 50K Sapphire Preferred and the 25K Sapphire offers will end on 04/03 at 10am. Sometimes it can be pulled even earlier than that, so don’t wait if you want to get in on the mega signup bonus.
Chase Sapphire Preferred 50K Signup Bonus Linky Chase Sapphire (Non-Preferred) 25K Signup Bonus Linky
The current public offer is 40K for the Sapphire Preferred and 10K for the Sapphire non-preferred, so I would imagine that’s what the new offer will be on Tuesday.
You get 50,000 points after spending $3,000 on the Chase Sapphire Preferred card. Because all points earned on the card, including spending and bonus points, receive a 7% dividend every February, you’ll actually receive 53,500 points total points for signing up (50,000 x 1.07=53,500). Plus of course you’ll receive between 3,210 and 9,630 points for the $3,000 in spending depending on where you spend it.
There is no annual fee for this card for the first year, but it’s $95 after the first year. Chase allows you to downgrade to other free cards like Freedom or the “non-preferred” version of the Sapphire card which has no annual fee. However be sure to transfer your points into miles before downgrading as cards with no annual fee do not allow transfers into miles!
You will receive 2.14 points per dollar (2 points x 1.07=2.14) for spending on the Sapphire Preferred card on dining, airfare, hotels, car rentals, charges in airports, travel agencies, caterers, timeshares, trains, buses, taxis/limos, ferries, bridges, tolls, and parking. Book travel and hotels when logged into your account at Chase.com and you’ll get 3.21 (3 points x 1.07=3.21) points per dollar.
There is no foreign exchange or foreign transaction fee on when you use this card overseas.
The Sapphire Preferred card isn’t your typical card. It’s made from metal to give it a great feel and has the numbers on the back of the card. When you call customer service a live US based rep answers right away with no phone tree maze to navigate.
Chase Sapphire points convert into British Airways (Oneworld), Korean (Skyteam), Southwest, and my favorite miles by leaps and bounds that never have any fuel surcharges, United (Star Alliance). They also convert into hotel points like Marriott, Priority Club, Ritz-Carlton, and one of my favorite hotel point currencies, Hyatt. They also transfer to Amtrak if train travel is your thing. All points transfer instantly at a 1:1 ratio with no fees at all.
You can transfer points into anyone’s Chase account or anyone’s airline or hotel mileage account.
You can also use points for 1.25 cents each towards travel, but you’ll be able to do much better than that by transferring to airlines or hotels.
A term I coined here last year that has caught on in the blogosphere is the Chase Trifecta. When you have the Sapphire Preferred (or Ink Bold) card along with Chase Freedom and a Chase checking account you can truly maximize your spending and rewards.
You can put all spending on dining and travel that is $10 or more and all overseas spending on the Sapphire Preferred and then put all other spending on Freedom where you earn 10 points for every transaction and and 10% bonus points for every dollar spent and 5 points per dollar in rotating categories. Then instead of cashing Freedom points out at a penny per point you can transfer Freedom Ultimate Rewards points to Sapphire Preferred Ultimate Rewards points to transfer them into much more valuable airline or hotel points.
The Sapphire Preferred card comes as a Visa, but I converted mine to a World Mastercard as that gives free rental car insurance in Israel. I then reapplied for another Visa and was approved, as I told reconsideration there are some stores I frequent that only take Visa.
There are lots of other great chase cards to double or triple it up with in multiple browsers for just 1 hard pull, such as:
-United: 30,000 bonus miles for spending $1,000.
-Ink Bold: 50,000 bonus points for spending $5,000.
-Freedom: 20,000 bonus points for spending $500 that can be easily matched to 30,000 after a secure message.
-Marriott Premier, 50K bonus points and free cat. 1-4 night certificate for spending $1,000
–Chase Slate, 0% APR on purchases and balance transfers for 15 months and zero balance transfer fees for 60 days.