Chase Sapphire Preferred® Card Referral Bonus Now Only 60K: Get the Facts and Maximize Your Rewards

Introduction

The Chase Sapphire Preferred® Card is a popular travel rewards credit card that offers a generous sign-up bonus and a range of valuable perks. However, it's important to be aware that the referral bonus for this card has recently been reduced, from 80,000 points to 60,000 points.

Understanding the Referral Bonus

A referral bonus is a special reward that you can earn when you refer a friend or family member to a credit card. The Chase Sapphire Preferred® Card offers a referral bonus of 60,000 points when you refer someone who is approved for the card and meets the minimum spending requirement.

How to Get the Referral Bonus

To get the referral bonus, you must:

• Have an active Chase Sapphire Preferred® Card account.
• Refer a friend or family member to the card using your unique referral link.
• Have the person you refer get approved for the card and spend at least $4,000 on purchases within 3 months of account opening.

Impact of the Reduced Bonus

The reduction in the referral bonus from 80,000 points to 60,000 points is significant. This means that you will earn 20,000 fewer points if you refer someone to the card now compared to before the change.

Effective Strategies to Maximize Rewards

Despite the reduced bonus, there are still ways to maximize your rewards when referring friends to the Chase Sapphire Preferred® Card:

• Refer multiple people: The referral bonus is per person, so you can earn more points by referring multiple people.
• Use your referral link: Make sure to use your unique referral link when referring people to ensure that you get credit for the bonus.
• Track progress: Keep track of the spending progress of the people you refer to make sure they meet the minimum spending requirement.

Common Mistakes to Avoid

Avoid these common mistakes when trying to maximize your referral bonus:

• Not meeting the minimum spending requirement: Ensure that the person you refer meets the $4,000 minimum spending requirement within 3 months, or you will not receive the bonus points.
• Referring someone who is already a Chase customer: Referral bonuses are not available for existing Chase customers.
• Using someone else's referral link: Only use your own unique referral link to get credit for the bonus points.

Why the Chase Sapphire Preferred® Card Referral Bonus Matters

The Chase Sapphire Preferred® Card referral bonus is a valuable way to earn extra rewards points. These points can be redeemed for a variety of travel experiences, including flights, hotel stays, and activities. By utilizing effective strategies and avoiding common mistakes, you can maximize your rewards and enjoy the benefits of the Chase Sapphire Preferred® Card.

Benefits of the Chase Sapphire Preferred® Card

In addition to the referral bonus, the Chase Sapphire Preferred® Card offers a range of valuable benefits, including:

• 2X points on dining, travel, and other purchases.
• 1X point on all other purchases.
• Annual $95 fee (waived for the first year)
• No foreign transaction fees
• Trip cancellation and interruption insurance.
• Purchase protection.

Compare Pros and Cons

Pros:

• Generous welcome bonus (60,000 points)
• 2X points on dining, travel, and other categories
• No foreign transaction fees
• Valuable travel and purchase protection benefits

Cons:

• Reduced referral bonus (previously 80,000 points)
• Annual fee ($95 after the first year)
• May not be the best card for low spenders

Conclusion

The Chase Sapphire Preferred® Card referral bonus has been reduced to 60,000 points. While this is a significant decrease, there are still ways to maximize your rewards and earn valuable points. By utilizing effective strategies and avoiding common mistakes, you can enjoy the benefits of this card and make the most of your travel experiences.

Comparison of Chase Sapphire Preferred® Card and Other Travel Rewards Cards

Frequently Asked Questions (FAQs)

Q: Is the referral bonus applicable to existing Chase Sapphire Preferred® Card holders?
A: No, the referral bonus is only available to new cardholders.

Q: How long does the person I refer have to meet the minimum spending requirement?
A: The person you refer must meet the $4,000 minimum spending requirement within 3 months of account opening.

Q: Can I refer more than one person to the Chase Sapphire Preferred® Card?
A: Yes, you can refer as many people as you like, and you will earn the referral bonus for each person who is approved for the card and meets the minimum spending requirement.