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Chase just reintroduced the lucrative 80,000-point welcome bonus on the Chase Sapphire Preferred® Card and added a new, elevated offer on the Chase Sapphire Reserve® worth 60,000 points.
New Sapphire Preferred cardholders can earn 80,000 bonus points after spending $4,000 on purchases in the first three months from account opening. Plus earn a $50 statement credit on grocery purchases within your first year after account opening.
New Sapphire Reserve cardholders can earn 60,000 bonus points after spending $4,000 on purchases in the first three months from account opening.
Both of these offers are higher than usual and may not last long.
If you want to benefit from a generous welcome bonus that can help pay for spring and summer travel plans, you should consider applying for the Chase Sapphire Preferred or Reserve since these elevated offers won't last forever.
These offers are only available to you if you don't have any Sapphire card (Preferred or Reserve) and haven't received a new card member bonus for any Sapphire card in the past 48 months. (Learn more about the eligibility requirements below.)
After you meet the Chase Sapphire Preferred's bonus requirements, Chase will issue you 80,000 Ultimate Rewards points in the next billing cycle. These points can be worth up to $1,000 when you redeem for travel through Chase Ultimate Rewards® or worth $800 as cash back.
The Chase Sapphire Reserve's 60,000-point bonus can be worth up to $900 when you redeem for travel through Chase Ultimate Rewards® or worth $600 as cash back.
While this bonus is worth less than the Sapphire Preferred, the Reserve card comes with a lot of additional perks that can make the $550 annual fee worthwhile. You can benefit from an annual $300 travel credit, Priority Pass Lounge access and more.
Chase sets strict guidelines for who's eligible to earn welcome bonuses. You can qualify to earn a new Sapphire Preferred or Reserve bonus once every 48 months, as long as you're not a current Sapphire cardholder.
Chase explains who's not eligible in the terms on its website:
The product is not available to either (i) current cardmembers of any Sapphire credit card, or (ii) previous cardmembers of any Sapphire credit card who received a new cardmember bonus within the last 48 months. If you are an existing Sapphire customer and would like this product, please call the number on the back of your card to see if you are eligible for a product change. You will not receive the new cardmember bonus if you change products.
The key takeaway is that the welcome bonus is only available if you don't currently have any Sapphire card (Preferred or Reserve) and haven't received a new card member bonus for any Sapphire card in the past 48 months.
You can earn more than one Chase Sapphire bonus, but as the terms stated above, you'll have to wait 48 months between each bonus. Plus you can't already have a Sapphire card at the time you apply for a new one.
Chase points don't expire as long as your account remains open. However, Chase notes in its terms that you will immediately lose all your points if your account status changes (like it becomes delinquent) or your account is closed for program misuse, fraudulent activities, failure to pay, bankruptcy or other reasons listed in your rewards program agreement.
This is the second time that the Sapphire Preferred card is ever offering an elevated 80,000-point bonus. So there's the possibility it could happen again. However, this is the first time that the Sapphire Reserve bonus is boosted to 60,000 points, but it's nowhere near the original 100,000-point bonus that Chase offered when the card launched in 2016.