KEY LINK: Chase Sapphire Preferred® Card – Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. $95 annual fee
If you are considering getting the Chase Sapphire Preferred with its current welcome offer, you will want to make sure that you are eligible to get the bonus. There are a few conditions that you’ll have to meet in order to earn the welcome offer. There are few things worse than applying for a new card only to find out that you aren’t eligible for the bonus and you wasted that spending (and a hard pull) for nothing. So in this article, we’ll take a look at who is eligible for the bonus on the Chase Sapphire Preferred card.
Who Is Eligible For The Chase Sapphire Preferred®
I’ve had a few people reach out to me about the current Chase Sapphire Preferred welcome offer where you can earn 60,000 Ultimate Rewards after spending $4,000 in 3 months. They have been wondering who is eligible for the offer, and this is what I have been telling them. There are basically three conditions that you’ll need to meet:
- Be under Chase 5/24 – though there have been reports that for the current offer that some people that are over 5/24 have been approved.
- Not be a current cardholder of any Chase Sapphire card – aka the Chase Sapphire Preferred® Card or Chase Sapphire Reserve®
- Not have received a new member bonus for any Sapphire card in the past 48 months
I had someone reach out on the Points With a Crew Facebook group asking if she should downgrade her Sapphire Reserve to a Chase Freedom Unlimited® before applying. I mentioned the current bonus criteria and indicated that she would need to either cancel her Sapphire Reserve or downgrade it to be eligible for the Sapphire Preferred offer.
Chase Sapphire Preferred® Mini Review
Here is the earning potential while using the Chase Sapphire Preferred
- 5x total points on travel purchased through Chase Travel℠, excluding hotel purchases that qualify for the $50 Annual Ultimate Rewards Hotel Credit.
- 2x on other travel purchases
- 3x points on dining, including eligible delivery services, takeout and dining out.
- 3x points on online grocery purchases (excluding Target, Walmart and wholesale clubs).
- 3x points on select streaming services.
- 1x points on all other purchases
Besides primary car rental insurance, some of the other benefits that come with the card are:
- Earn up to $50 in statement credits each account anniversary year for hotel stays purchased through Chase Ultimate Rewards
- Unlock 1:1 point transfers to Chase’s hotel and airline travel partners
- Trip Cancellation/Interruption Insurance
- Baggage Delay Insurance
- Earn 5x points on Lyft rides through March 31, 2025
- Complimentary access to DashPass
- $10 monthly statement credit from Gopuff.
- 6 months of complimentary Instacart+ if you activate by July 31, 2024. Plus, Instacart+ members earn up to $15 in statement credits each quarter through July 2024
- No foreign transaction fees
- $95 annual fee
If you use the $50 hotel credit, that is equal to more than half the annual fee right there.
4 Reasons To Get The Chase Sapphire Preferred® Card
I think there are 4 main reasons to consider getting the Chase Sapphire Preferred Card:
- An excellent welcome offer – You can earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months
- Combining Chase Ultimate Rewards points – possibly making your existing Ultimate Rewards points more valuable
- Primary Car Rental Insurance – Chase’s rental car insurance saved my parents nearly $1000 when they ran into problems with their rental car.
- The flexibility of redeeming Ultimate Rewards points – either use them towards travel or transfer them to Chase’s hotel and airline travel partners
The Bottom Line
KEY LINK: Chase Sapphire Preferred® Card – Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. $95 annual fee
If you’re eligible to get the welcome bonus on the Chase Sapphire Preferred, you should highly consider it. This is an outstanding offer. In order to be eligible for the bonus you must:
- Be under Chase 5/24
- Not be a current cardholder of any Chase Sapphire card – aka the Chase Sapphire Preferred® Card or Chase Sapphire Reserve®
- Not have received a new member bonus for any Sapphire card in the past 48 months
If you have any questions about this offer or want to talk over how it might work for you, please email me at dan at pointswithacrew dot com. I am more than happy to talk to anyone about this or any other offer and how it might work for you.
Are you eligible for the Chase Sapphire Preferred with its current welcome offer? Leave a note in the comments.
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Dan Miller travels with his wife and 6 (SIX!) children. He loves to help families travel for free / cheap, especially larger families. If you are looking for help, drop him an email at 
Thanks for sharing this blog, Keep it up!
That 48-month thing means both I and P2 can skip articles like this because in that many months lots of things can change. See you in the future, CSP.
What about a no fee Sapphire card, does it make a holder ineligible?
Chase’s site says “This product is available to you if you do not have any Sapphire card and have not received a new cardmember bonus for any Sapphire card in the past 48 months.” So no, if you have the no-fee Sapphire card, I would not expect you to be able to get the Sapphire Preferred
Ben …I’ve had the card 10+ years …..if I downgrade to the freedom and I’m under 5/24 ….1) can I get a bonus …2) how long do I have to wait
It’s my understanding that yes, you would be eligible, and I think I’ve seen reports that you’d only have to wait a few days. I might wait a week to be safe. Thanks in advance if you use the links in this post when you apply!