Update: This offer is no longer available. Check out the Chase Credit Cards page to view Chase cards that are currently available.
In May of 2011 the Sapphire Preferred® Card began offering 50,000 bonus points to new cardholders who spent $3,000 within the first 3 months. Chase has been running this same promotion ever since, but the strange thing is we recently received notice that the wording "Limited Time Offer" must be inserted into their marketing copy. I'm not exactly sure what the reasoning is for the change or if this promotion will end very soon, but what I can say is I've actually been surprised the deal has been running for so long.
Most deals like this don't last for almost a year, so I wouldn't count on it lasting much longer in 2012. In fact, word on the street is that it may get pulled sometime before the 2nd quarter. So why should you care?
You should care because the Chase Sapphire Preferred® offer really is one of the best all around credit card deals on the market for those with good credit. Not only do you get 50,000 bonus points after spending $3,000 within 3 months, but the card also offers a 7% annual bonus on all points earned plus double points on travel and dining. Basically, the worst you can do is earn 1.07 points per dollar spent, which isn't bad at all.
Travel and dining expenses, on the other hand, will earn you 2.14 points per dollar spent, which is well above average. When you're ready to redeem your points, you'll be happy to see that they're actually worth 25% more than most rewards programs. 50,000 points is usually enough for a $500 ticket (100 points = $1), but 50,000 points earned on your Chase Sapphire Preferred card are worth $625 (100 points = $1.25)! And since the $95 annual fee is waived for the first year, savvy card users can rack up major points for free during one year of use before canceling the card. There's no foreign transaction fee too, which is a huge benefit for those who plan to spend big bucks when traveling and dining overseas.
The 3% savings really adds up fast. While I don't use this card personally at the moment, it was high on my list of cards to apply for during my next round of card applications in 2012. I think I'll be moving it up to the top of the list just in case Chase's latest update to their marketing copy actually has some meaning behind it. If you don't want to miss out on the 50,000 bonus points either, consider applying for a Sapphire Preferred Card® today.
