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Chase Sapphire Preferred® Card Expired

Spend $4K on Purchases
Earn 80,000 Points
+156 Deal Score
378,866 Views
Chase is offering 80,000 Bonus Points ($1,000 towards travel) w/ $4,000 spent on purchases in the first 3 months of account opening for the Chase Sapphire Preferred® Card. Annual fee is $95. Thanks Cappy123

Card Details:
  • Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®.
  • 2X points on travel and dining at restaurants worldwide, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 80,000 points are worth $1,000 toward travel.
  • Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
  • Earn 5X points on Lyft rides through March 2022. That's 3X points in addition to the 2X points you already earn on travel.

Original Post

Written by
Edited November 9, 2020 at 11:50 AM by
Chase is offering 80,000 Bonus Points ($1,000 towards travel) w/ $4,000 spent on purchases in the first 3 months of account opening for the Chase Sapphire Preferred® Card. Annual fee is $95.

Card Details:



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Created 09-14-2020 at 02:56 PM by Cappy123
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Deal
Score
+156
378,866 Views
Spend $4K on Purchases
These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

1,153 Comments

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Featured Comments

It's 4 years since receiving the sign up bonus.
You have to wait 4 years since opening the first one before you can get another.
The application date or the card open date doesn't matter. What matters is the date that you received the sign-up bonus. That date is probably the closing date of the statement in which it was awarded to you.

For example, if you met the minimum spend for the sign up bonus in the first month the card was opened, the statement closing date was probably October or November 2016. If you met the minimum spend in the 3rd month that the card was opened, then the bonus may have been awarded in January or even February - again, depends on the statement closing date. You can check your first few statements in that account to know for sure.

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Joined Nov 2005
L6: Expert
> bubble2 1,591 Posts
446 Reputation
stevelion
09-14-2020 at 09:09 PM.
09-14-2020 at 09:09 PM.
Quote from dravid :
easy; see previous post

Thanks. But like I said, I know my account opening date was May 25, 2016 since I keep records of that. What i don't know is if I spent $4k in one month in which I should be OK or if I it stretched it to the limit which was 3 months in which case I'm not sure if the points posted in September ir perhaps even October.
Reply
Joined Dec 2010
L2: Beginner
> bubble2 88 Posts
18 Reputation
dmalivecn
09-14-2020 at 09:09 PM.
09-14-2020 at 09:09 PM.
I received the 100k CSR bonus points on 10/12/16. I still have the CSR. I guess I have to wait another month before I close CSR and apply for the CSP.
1
Reply
Joined Oct 2012
L5: Journeyman
> bubble2 651 Posts
79 Reputation
hottoys2012
09-14-2020 at 09:10 PM.
09-14-2020 at 09:10 PM.
If you have reserve and regular freedom can you:

Change freedom to freedom flex and immediately downgrade reserve to freedom ?

If this wouldn't work what is the other option for downgrading reserve if you already have freedom ?
Reply
Joined May 2011
L5: Journeyman
> bubble2 932 Posts
68 Reputation
boingyman
09-14-2020 at 09:16 PM.
09-14-2020 at 09:16 PM.
Damn didn't know they changed it to 4 years since receiving the bonus. Just want to clarify. Currently I have the CSR. Let's assume I got it a little over 4 years ago. If I cancelled the card now and then apply for the CSP, will I get the bonus?
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Joined Jul 2006
L6: Expert
> bubble2 1,211 Posts
484 Reputation
PrincipalMember
09-14-2020 at 09:22 PM.
09-14-2020 at 09:22 PM.
Quote from dravid :
No, not offended. I just assumed your time would be more valuable and it was a strange way of complimenting you. I know many on slickdeals chase deals even though they are extremely well off, relatively. Maybe it is that kind of mentality that got them well off in the first place.

Respect.
I do deals just for the fun aspect but otherwise it is hard to be really well off just chasing the deals. Don't get me wrong - everything small will add up but (1) the power of savings and long term investments far-far-far exceeds anything that you will get from the deals, (2) good job and getting lucky with the company. On #2, I changed jobs a few years ago and just my income from RSU income is starting to approach my old total comp and 10 of those RSU's are more than all of deal savings.

#2 is partly luck but #1 is what you control. I see people chase $600 bonus at a bank for ultra safe investments and they don't realize the power of compounding that they are missing on better investments and I am not talking about investing in Tsla - that is not investment - that is gambling.
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Joined Jun 2008
L6: Expert
> bubble2 1,084 Posts
607 Reputation
lalakersfan88
09-14-2020 at 09:27 PM.
09-14-2020 at 09:27 PM.
Quote from dravid :
1. Has the CSP annual fee even been waived?
2. Has anyone been able to generate referrals for their Chase account for this card? If so, which card did you have to generate the referral from?
When I got the CSP in May 2016 the $95 fee was waived the first year. I stupidly closed it instead of product changing it in April 2017. I got my points in June 2016. So I technically can reapply now.
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Joined Mar 2012
L6: Expert
> bubble2 1,087 Posts
3,277 Reputation
dodgers2025win
09-14-2020 at 09:27 PM.
09-14-2020 at 09:27 PM.
So..has anyone been approved? What kind of CL?
Reply

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Joined Apr 2016
HERRO!
> bubble2 546 Posts
146 Reputation
TPVPT
09-14-2020 at 09:29 PM.
09-14-2020 at 09:29 PM.
Is there anyway to see the exact date when the last bonus was received to make sure it has been 48 months?

I can see that my statement closed September 16, 2016 and sometime during that time I got the 100k bonus on Sapphire Reserve but I'm not sure of the exact date.
Reply
Joined Apr 2014
L5: Journeyman
> bubble2 925 Posts
68 Reputation
Materialism
09-14-2020 at 10:02 PM.
09-14-2020 at 10:02 PM.
i had a chase account online and got approved immediately. not sure if it actually matters but i won't disclose my credit limit, sorry. i don't exactly churn cards but i'll definitely apply for a card or two once a year to reap some savings. 80k points is basically 800 off 4000 spend which is great.
Reply
Joined Nov 2006
L4: Apprentice
> bubble2 968 Posts
138 Reputation
SouthernMan
09-14-2020 at 10:29 PM.
09-14-2020 at 10:29 PM.
Quote from PrincipalMember :
... I see people chase $600 bonus at a bank for ultra safe investments and they don't realize the power of compounding that they are missing on better investments ....

Would you further explain your comment? Suppose a bank offers a $600 bonus to have both a checking and savings account with a $10K min. deposit that only has to be kept for a few months. Where can I get a better, equally safe, return for that time period?
Reply
Last edited by SouthernMan September 14, 2020 at 10:35 PM.
Joined Apr 2012
L5: Journeyman
> bubble2 810 Posts
289 Reputation
ChuckMiles
09-14-2020 at 10:32 PM.
09-14-2020 at 10:32 PM.
Quote from dodgers2020win :
So..has anyone been approved? What kind of CL?
Just got approved with $19,600 CL. What an awkward limit...
Reply
Joined Nov 2008
L10: Grand Master
> bubble2 8,102 Posts
607 Reputation
dtmamg
09-14-2020 at 10:36 PM.
09-14-2020 at 10:36 PM.
Quote from ChuckMiles :
Just got approved with $19,600 CL. What an awkward limit...
they calculate and derive the limit based on a set debit/income ratio.
Reply
Joined Jun 2008
L4: Apprentice
> bubble2 400 Posts
274 Reputation
Chupacabras
09-14-2020 at 10:59 PM.
09-14-2020 at 10:59 PM.
.....
Reply
Last edited by Chupacabras September 15, 2020 at 03:34 PM.
Joined Jul 2006
L6: Expert
> bubble2 1,211 Posts
484 Reputation
PrincipalMember
09-14-2020 at 11:35 PM.
09-14-2020 at 11:35 PM.
Quote from SouthernMan :
Would you further explain your comment? Suppose a bank offers a $600 bonus to have both a checking and savings account with a $10K min. deposit that only has to be kept for a few months. Where can I get a better, equally safe, return for that time period?
In theory - you are absolutely right since the typical holding requirements are 90 days. So if you did the interest calculation, it turns out to be a whopping 24%. If all you have is $30,000 - surely go ahead and spread it in a few banks. But the problem with this strategy is that it is not scalable and immediately repeatable - banks don't let you hit them twice in succession - there is a cooling off period before you can hit them again.

The other aspect is taxes. As far as I understand, the $600 is taxed at your max tax rate. But with investments, if you don't cash out, there are no taxes due and hence the money that you would have paid to IRS is also making money for you.

I remember my early years - I went to Prudential to do a brokerage CD - this was long time ago. The rate was around 12% - yes - it was that high. The broker tried to steer me to investments and I would have nothing to do that with that stuff - 12% safe/sound FDIC insured - perfect - that is what I wanted. And that I think was good for me at that time - 1st job out of college, starting to build my nest egg - couldn't afford to lose the savings. But as years have gone by, I don't touch CD's - some cash can temporarily stay in Ally waiting for investments - but almost 100% invested.

I won't make this up - you can go up look it up - go lookup ticker symbol - IHI - 5 years ago, it was at $118 - today it is at around $300. So you tell me - has your collecting $600 every few quarters helped you build wealth at that rate? If yes, you have done well scaling the $600 bonus scheme.
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Joined Oct 2010
L10: Grand Master
> bubble2 6,329 Posts
1,385 Reputation
YanksIn2009
09-14-2020 at 11:49 PM.
09-14-2020 at 11:49 PM.
Quote from Materialism :
i had a chase account online and got approved immediately. not sure if it actually matters but i won't disclose my credit limit, sorry. i don't exactly churn cards but i'll definitely apply for a card or two once a year to reap some savings. 80k points is basically 800 off 4000 spend which is great.

Actually 705 off since you have to pay an annual fee.
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