US credit card bonus and reward policy changes

Following the late July announcement regarding Sapphire-branded card restrictions, further details have emerged regarding Chase’s lifetime welcome bonus policy. The rule may block bonuses for applicants who currently hold, or have previously held, any Sapphire product. Implementation has shown inconsistent results; while some cardholders secured new bonuses after a seven-to-ten-year gap, others were denied eligibility despite waiting four to seven years. The policy does not treat the “lifetime” bonus as a permanent entitlement and considers factors such as the number of cards opened and closed.

Chase has also expanded its business offerings with the Sapphire Reserve for Business, which features a $795 annual fee and a 200,000-point welcome bonus after $30,000 in spending within the first six months. This card includes a 3-point-per-dollar rate on internet and social-media advertising and provides access to Sapphire Lounges.

In August, Chase introduced “Points Boost,” a feature allowing eligible cardholders to redeem Ultimate Rewards points for select flights and hotels through Chase Travel at enhanced values. Redemption rates can reach between 1.5 and 2 cents per point for Sapphire Reserve and Sapphire Reserve for Business holders, while Sapphire Preferred and Ink Business Preferred holders typically see values between 1.5 and 1.75 cents per point. Additionally, the public 100,000-point bonus for the Sapphire Preferred has been replaced by a 75,000-point offer, though higher bonuses may still be available via certain personal referral links.