By Adam Jusko, ProudMoney.com, firstname.lastname@example.org
UPDATE: As described below, the Chase Sapphire Preferred bonus offer has now changed to 60,000 points after $4000 in card spend in three months. Annual fee is now $95 without the previous fee waiver in the first year.
Hot on the heels of yesterday’s rumor on changes to the Chase Freedom Unlimited card comes the possibility of a bonus tweak on the Chase Sapphire Preferred. A commenter over at Doctor of Credit claims that the bonus offer and annual fee will be switching from the current 50,000-point bonus to a 60,000-point bonus — but with a catch. The card currently waives its $95 annual fee for the first year, but would no longer do so.
From the cardholder end, a 60,000-point offer with a $95 annual fee is roughly a wash when compared to a 50,000-point bonus with no annual fee. From Chase’s end, however, it means getting an extra $95 today while giving points that might not be used for months, years, or ever.
Because these rumors seem to be coming from employees of Chase, they do hold some water. However, employees do sometimes see information in the planning stages before terms are finalized, so we’re not ready to 100% believe in the details of these changes. However, Chase is obviously looking to vary their offers a bit in order to get people thinking about their cards again. This makes sense: Many people who took advantage of their offers in the past are prevented from being approved again because of the Chase 5/24 guideline that says new cardholders must not have more than 5 new credit cards opened in the last 24 months (across all card issuers, not just Chase).