This thread is specific to the bonus of 25,000 or 15,000 points after first purchase (gift card, travel, cash redemption) offer for the Chase Sapphire Preferred card:
UPDATE: From further down in the thread... the 25000 point offer is FINSHED, only 15000 point offer available currently
Note: $85 (was $95) annual fee after the 1st year.
Alternatively you can apply for the "regular" Chase Sapphire card (no annual fee) to obtain 10,000 bonus points.
Redemption options: Redeem for travel, merchandise, gift cards and Cash Back, or transfer points at full value to the industry's top frequent flyer and hotel programs.
1:1 Point Transfer to Leading Airline and Hotel Programs (similar to AMEX Membership Rewards Points perhaps?)
Each point is worth 25% more when used to book flights through Ultimate Rewards (25000*1.25 = 312500 or $312.50 travel reward)
Plus earn 10,000 bonus points when you purchase $50,000 per year on your card (Sapphire Preferred only)
I was instantly approved and I currently have 3 Chase credit cards from 2-3 years ago.
Please see the complementary thread regarding general discussion of the Sapphire card here
This one-time bonus offer is valid only for first-time cardmembers with new accounts. Existing cardmembers/accounts are not eligible for this bonus offer.
Would we be ineligible if we already have a Chase card or is the disclosure just to prevent people like us from applying for multiple Sapphire cards?
dealdealhot
New Member
posted: Jul. 4, 2009 @ 12:58p
It seems not qualified for the cardmenber already owned any kind of credit card/account from Chase?
cameron2003
Senior Member - 2K
posted: Jul. 4, 2009 @ 1:19p
I'm not sure of the details regarding gift cards and travel redemptions, but this is all I need to know:
Statement Credits: Redemptions start at 2500 points for a $25 statement credit to apply to any purchase made with your Chase credit card within 60 days of the request for a statement credit, where permitted by law. Beginning with 2500 points, redemptions may be made in additional 100 point increments for each $1 statement credit. Statement credit will post to your account within 5-7 business days and will appear on your monthly Chase credit card billing statement within 1-2 billing cycles.
cameron2003 said: I have recently been denied for another Chase card (disney) so I probably won't qualify, will I.
I got denied a few months ago also... telling me that I have the max credit available... but I applied anyways...=)
mlayu
Senior Member
posted: Jul. 4, 2009 @ 2:34p
I'm wondering if it has special cash redemption such as Chase Freedom Card where we can redeem 20,000 points for $250 check. If it is, then this can generate $300 bonus.
cameron2003
Senior Member - 2K
posted: Jul. 4, 2009 @ 2:45p
ardentazn said: cameron2003 said: I have recently been denied for another Chase card (disney) so I probably won't qualify, will I.
I got denied a few months ago also... telling me that I have the max credit available... but I applied anyways...=)
I tried it too, no instant approval, I doubt this will be approved.
rajthebam said: does anyone know for sure you can redeem points for gift cards -
i dont want to b stuck with airline/hotel points....rather have gift cards good as cash
Click on "Compare Cards" at the link posted in the OP, under the "Chase Sapphire Preferred" card heading: "Redeem for travel, merchandise, gift cards and Cash Back, or transfer points at full value to the industry's top frequent flyer and hotel programs."
hapachino said: This one-time bonus offer is valid only for first-time cardmembers with new accounts. Existing cardmembers/accounts are not eligible for this bonus offer.
Would we be ineligible if we already have a Chase card or is the disclosure just to prevent people like us from applying for multiple Sapphire cards?
From guessing from past Chase promotions, this only excludes current Chase Sapphire card members. Similar wording was on the Chase Freedom card promotions which many received bonuses for in spite of being Chase cardmembers already.
pianistat
New Member
posted: Jul. 4, 2009 @ 7:39p
Instant approval! Now, please anybody share what is the best in the long run for your credit when the first 11 months are over: 1. Cancel the card. 2. Downgrade or change to another no-fee chase card. I currently have 1 more Chase card, 7 other open accounts (two of them business), and 3 more closed on my request. Credit score around 760. Not planning to buy house anytime soon. Thanks!
mm04
Senior Member
posted: Jul. 4, 2009 @ 7:59p
pianistat said: Instant approval! Now, please anybody share what is the best in the long run for your credit when the first 11 months are over: 1. Cancel the card. 2. Downgrade or change to another no-fee chase card. I currently have 1 more Chase card, 7 other open accounts (two of them business), and 3 more closed on my request. Credit score around 760. Not planning to buy house anytime soon. Thanks!
Obviously paying an annual fee negates the purpose here.
Floydian said: From guessing from past Chase promotions, this only excludes current Chase Sapphire card members. Similar wording was on the Chase Freedom card promotions which many received bonuses for in spite of being Chase cardmembers already.Yes but that was before the banks started having financial problems. I wonder if they will let stuff slip through now.
BTW someone I know did a focus group for this card a few months ago, the participants were all very upscale. They are clearly targeting AMEX customers with these cards.
I got: We are currently reviewing your application. You will be notified in writing about the status of your application within 30 days, as required by law.
I'm only 18 and already have over $10k in credit available with 5 cards (2 citi, 1 discover, 1 usbank, 1 charles schwab).
LH2004
Frivolous Member
posted: Jul. 4, 2009 @ 10:54p
somdave2005 said: anyone know which airlines we can redeem to???At least as of a month ago: Continental and British only; also, Marriott and InterContinental hotels. You have to have the Preferred version to transfer.
new2fatwallet2
Senior Member
posted: Jul. 4, 2009 @ 11:32p
>>...Each point is worth 25% more when used to book flights through Ultimate Rewards...
How is the pricing at Ultimate Rewards?
somdave2005
Senior Member
posted: Jul. 4, 2009 @ 11:57p
LH2004 said: somdave2005 said: anyone know which airlines we can redeem to???At least as of a month ago: Continental and British only; also, Marriott and InterContinental hotels. You have to have the Preferred version to transfer.
thats it??? Doesn't sound like this card is worth the $95 annual fee. The Starwood AMEX card annual fee is only $45 and you can exchange pts for miles with all airlines.
somdave2005 said: LH2004 said: somdave2005 said: anyone know which airlines we can redeem to???At least as of a month ago: Continental and British only; also, Marriott and InterContinental hotels. You have to have the Preferred version to transfer.
thats it??? Doesn't sound like this card is worth the $95 annual fee. The Starwood AMEX card annual fee is only $45 and you can exchange pts for miles with all airlines.
Agreed, and SPG flights seems like a better deal than the Sapphire's "book through us" option.
This is easier $$$ than auto test drives (which are no more)! Got approved and will use $250 of bail-out money to buy food! Thanks OP
2stepsbehind
Senior Member
posted: Jul. 5, 2009 @ 8:44a
For those who have already applied would you mind sharing: whether you have another chase card (freedom et. al.) or other chase accounts approximate HHI claimed approximate credit score whether you have a balance on your current cards whether you were approved automatically?
Lets see if there are any patterns here.
mlayu
Senior Member
posted: Jul. 5, 2009 @ 9:40a
Decision in 30 days. Currently have 3 other Chase cards.
30-day message for me, had 3 chase card, 1 canceled in the past 3 months.
mm04
Senior Member
posted: Jul. 5, 2009 @ 1:04p
People please. What useful purpose is gained by posting whether or not your application was instantly approved or deferred for 30 days?
drosenth613
New Member
posted: Jul. 5, 2009 @ 1:23p
have a chase freedom card, and was instantly approved. I think the purpose of saying it is to see if having prior chase cards will affect approval status?
SuperG03 said: nn2000 said: What's the max number of chase cards one can hold?
I don't know that there is a max number of CARDS. It is more a question of how much exposure they are willing to extend to the individual. From what I have read, I believe there have been a few posters that said they had 7 or more CC (biz and per) from Chase.
If someone has MORE than 7, please post, as it would be an interesting data point. Thanks.
SuperG03
Agree on total exposure and no limit on number of cards. I have 8 Chase cards and have had more than 10 at various times in the past.
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