Alright, everybody, so a couple weeks ago I released my review of the Chase Sapphire
Preferred, and in that video I told you that the Chase Sapphire Preferred was running an
80,000-point signup bonus when you spend at least four thousand dollars in purchases in
the first three months from opening your account, and these 80,000 points could be worth a thousand
dollars toward travel when you redeem through Chase Ultimate Rewards or the Pay
Yourself Back Program that I went over in my full review of this card. However, as of
today, Chase has upped the signup bonus on this card to 100,000 points, which are worth
one thousand, two hundred and fifty dollars when redeemed for travel through Chase Ultimate
Rewards or through the Pay Yourself Back Program, and you get these 100,000 points by, again,
spending at least four thousand dollars in purchases in the first three months from opening
your account. Now just to clarify, that’s four thousand dollars in purchases on anything,
one of my viewers, Jose, asked if it was four thousand dollars on something specific or
on anything, and the answer is on anything. This one hundred thousand point offer is the
best signup offer on the Chase Sapphire Preferred ever, I am personally going to apply for the
Chase Sapphire Preferred after I record this video because we’re thinking about doing
a Hawaii trip later this year after our three-week-old has grown a little bit, maybe Europe next
year, I’m also going to talk to my wife about this to see if she wants to apply as
well to get a bonus too, and I’m sure many of you out there have travel plans as well,
and if you’d like to take advantage of this offer, I would appreciate it if you use my
link in the description below, if you do that and if you are approved then my channel will
receive a small commission at no cost to you, it’s just a way to support the channel so
I can continue to make videos like this. Now I do want to mention a few things here because
I don’t want you getting into something that doesn’t make sense for you, I’ve
covered a lot of these points in my full, twenty-minute-long, Chase Sapphire Preferred
review video, link to that one at the top of the screen, but I do want to make a few
points here before you run out and apply for this card. First, about the signup bonus.
Like I said, the hundred thousand points are worth one thousand two hundred and fifty dollars
if you redeem them for travel through Chase Ultimate Rewards or through the Pay Yourself
Back Program. If you don’t redeem them for travel and simply redeem them for essentially
cash back, like a statement credit on your account, which I don’t know why you would
especially considering the Pay Yourself Back Program, but if you do go that route, the
points are only worth a penny each, so the signup bonus is only worth a thousand dollars,
but as I explained in my review video, you get a 25% bonus on your points when you redeem
them for travel through Chase or through the Pay Yourself Back Program. Second thing I
want to mention is the Chase 5/24 rule, the Sapphire Preferred is subject to the Chase
5/24 rule, and it’s basically if you have opened five or more personal credit cards
in the past twenty-four months, Chase or non-Chase, then Chase will not approve your application
for the Chase Sapphire Preferred as well as certain other credit cards. So if you’ve
opened up at least five personal credit cards in the past twenty-four months, wait, wait
until the first one you opened drops off in a twenty-four month period before applying
for the Sapphire Prefered. Third, if you’re married and you’re contemplating both of
you getting the Sapphire Preferred with its signup bonus, please make sure you understand
the spending requirements and also don’t put your spouse as an authorized user on your
card if they intend to apply for the card themselves to get their own signup bonus,
I see a lot of people make that mistake, and it’s truly unfortunate. Fourth, don’t
spend money you shouldn’t just to get this bonus. Now, the four thousand dollar spend
requirement might sound like a lot, but if you break it down, because you have three
months to hit that spending requirement, that only comes out to an average of one thousand,
three hundred and three dollars and thirty-three cents per month, which our family spends at
least that much in a month on expenses I can put on a credit card. And there are other
ways to hit that bonus, for example if you still owe taxes, maybe your taxes with the
card, also I use Plastiq, which lets me use my credit card for expenses that don’t usually
take a credit card, such as the water bill for one of my rental properties, they don’t
take credit card, so I run it through Plastiq, and yes, there is a fee, but the fee could
be worth it if it will help you get the signup bonus on the Sapphire Preferred without you
spending money that you wouldn’t spend anyway. Fifth thing I want to mention, you can possibly
downgrade your Chase Sapphire Preferred down the line to another Chase card like the Chase
Freedom Flex or the Chase Freedom Unlimited, both of those cards do not have an annual
fee, and I reviewed both of those cards here on the channel and also created a comparison
video between those two similar cards, links to all those videos are in the description
below. And finally, sixth thing I want to mention, keep in mind when redeeming your
Chase points that sometimes it’s a better deal to transfer them to travel partners to
maximize your rewards, I talk about that in my full Chase Sapphire Preferred Review, which
you can watch right over here, I also recently reviewed the Sapphire Preferred’s “Big
Brother” card, the Chase Sapphire Reserve, and you can watch that video right down here,
I will see you in those videos, and be sure to use my link in the description below if
you want to get the awesome one hundred thousand point signup bonus on the Sapphire Preferred,
buh-bye.