A new targeted mail offer is beginning to be sent out from Chase for the Sapphire Preferred card. There are two versions:
- Get 90,000 Ultimate Rewards points when you spend $4,000 within the first 3 months. Plus get 5x points on gas and groceries during the first 6 months on up to $6,000 of spend.
- Get 70,000 Ultimate Rewards points when you spend $4,000 within the first 3 months. Plus a $150 statement credit to offset grocery purchases during the first year of the account being open.
- $95 annual fee (not waived first year)
- No foreign transaction fees
- Primary car rental insurance
- This card earns at the following rates:
- 2x points per $1 spent on travel and dining at restaurants
- 1x points per $1 spent on all other purchases
- Transferable points
- Redeem points on Chase’s travel portal at a value of 1.25¢ due to the 25% travel redemption bonus
- Not eligible if you’ve received a sign up bonus on the Sapphire Preferred/Reserve in the last 48 months (standard is now 48 months)
- Chase 5/24 rule applies to this card
The current Sapphire Preferred offer is for 80,000 points on the same $4,000 spend + a $50 grocery credit; that offer seems to be continuing for now, we don’t know exactly when it’ll end. The 90,000 version of this targeted mail offer is obviously better. The 70,000 offer isn’t as good as the current 80,000 offer (especially if you can have your friend refer you to the current offer).
Will be interesting to see if one of these offers ends up becoming the public offer at some point down the line; we have no info on that. Chase will not match this offer if you signed up on another one, even if you were targeted, according to EosHuffer.
Hat tip to EosHuffer