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
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Edited November 9, 2020
at 11:50 AM
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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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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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repped!
Is it just Chase that has this restriction? I know my wife has applied for 2 in one day before, I think it was Wells Fargo and BoA.
Nope won't work. Any returns that dip it back below the spending limit you'll run into issues with the points. Crawled back, or if you used the points account closed and blacklisted from future chase products. So when you do become rich one day you'll be screwed from getting bonuses then.
2. No
3. No
Even if not the right time now research no fee ways to charge card pay your bills (insurance, utilities, tolls, etc) and pay balance in full each month. Use a cash back card with no annual fee or travel card to build for free vacations. Start early be patient build skills. Did this for 20 years when starting out and cashed in when time was right.
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80K pts is the best I've ever seen. You don't need to hold the card for 8 yrs. Open the card up, get the bonus, cancel once the year is over. Essentially you get $800 for $95 fee. The credit hit is minimal. People open and close CC constantly and apparently its not a problem.
I believe the preferred get you 2 pts for grocery and restaurant spending.
The 80k for me is worth a whole lot more than $800. You can transfer to points to Hyatt, Southwest, etc....making worth a lot more than $800.
For example. I went to Paris last year and stayed in a high end Hyatt for 15K/night. If I wasn't using points, the hotel would have cost over 500 euros per night. Basically I save all my Chase points for Hyatt.
I can't get the card, I have the Reserved.
80K pts is the best I've ever seen. You don't need to hold the card for 8 yrs. Open the card up, get the bonus, cancel once the year is over. Essentially you get $800 for $95 fee. The credit hit is minimal. People open and close CC constantly and apparently its not a problem.
I believe the preferred get you 2 pts for grocery and restaurant spending.
The 80k for me is worth a whole lot more than $800. You can transfer to points to Hyatt, Southwest, etc....making worth a lot more than $800.
For example. I went to Paris last year and stayed in a high end Hyatt for 15K/night. If I wasn't using points, the hotel would have cost over 500 euros per night. Basically I save all my Chase points for Hyatt.
Doesn't it affect your credit to close credits cards?
Also, Marriott Bonvoy Boundless card by chase seems to be a better offer, 100,000 bonus points after spending 3k in 3 months + 2x points on all purchases.
Also, Marriott Bonvoy Boundless card by chase seems to be a better offer, 100,000 bonus points after spending 3k in 3 months + 2x points on all purchases.
2. The smart play is to get the Sapphire Preferred, hold it for a year, and either close it or downgrade it to a $0 fee Freedom Unlimited (or Freedom Flex if allowed). You get the 80k point bonus, only pay 1 annual fee, and can end up long term with a better general-purpose card if that's what you want.
3. Short answer - Closing a credit card does not have a significant impact on credit scores for most people/circumstances. Longer answer - Closing a credit card is reflected on your credit report in 2 ways - Open vs. Closed accounts, and your overall credit limit across all open accounts (which affects utilization):
After closing a card, that card is displayed on your credit report as a closed account, which is simply a neutral indicator as long as the card was closed in good standing. When calculating the average age of your credit accounts, the FICO scoring models actually continue to count those closed cards for 10 years after closure - and the closed cards continue to 'age' during that time. That portion of your score isn't affected at all, until 10 years have passed, at which time the effect shouldn't be much assuming you have gotten/held other cards over the course of the preceding decade.
NOTE: Credit Karma and other similar services (including some bank-provided services) use what is called a Vantage Score (aka FAKO score) rather than a legit FICO score. No known lenders actually use Vantage in making lending decisions - its main purpose is showing a score to people who want to see their 'credit score'. Vantage calculates Average Age of Accounts differently, ignoring all closed cards at the moment that closure is reported. That means that if you use one of their 'estimator' tools to see the effect of closing a card, the result will not actually be indicative how your legit FICO score will be impacted, and people with a number of closed cards/other loans will see a deflated Vantage score compared to their FICO.
Closing a card will remove whatever that card's credit limit was from the overall credit limit across all of your card accounts. The absolute amount of your credit limit doesn't really matter, but how that limit interacts with your reported card balances - your credit utilization - does. If you pay off your cards in full each month, then your utilization is likely low enough that closing a card won't impact utilization and won't lower your score. IF you are carrying balances from month to month, then closing a card may impact your credit score, if closure causes the ratio of balance to available credit to increase. Once you pay down those balances and improve your utilization ratio, that particular score penalty will go away.
I've only had this card less than a month. I sent a secure message to ask for a match and got a NO. Seems that has been others experience as well so far.
I've only had this card less than a month. I sent a secure message to ask for a match and got a NO. Seems that has been others experience as well so far.
Nice bonus for a good card, but that's pretty restrictive!
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