Posted by William Charles on July 16, 2015
Credit Cards

Published on July 16th, 2015 | by William Charles

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Chase Sapphire Preferred Losing First Friday Benefit In 2016

The Chase Sapphire Preferred card earns 2x per $1 points on all dining purchases, except on the first Friday of each month where you can earn 3x points per $1 spent on all dining. View From The Wing is reporting that this benefit will be discontinued starting the in January 2016.

This isn’t a huge loss, but it is somewhat annoying as it’s becoming increasingly difficult to earn a high category bonus on dining out/restaurant spend. The U.S Bank Cash+ card used to offer 5% cash back, but this was also removed as a 5% category.

Previously I was able to purchase gift cards/gift certificates during the first Friday of every month to restaurants that I frequent often to get the 3x Chase UR points. Now my best option will be to get 3% cash back from a variety of different cards (or 5% back if the Discover it/Chase Freedom is offering restaurants as a 5% rotating category)

Here’s hoping a credit card issuer is listening and they decide to offer a credit card with 5% cash back or 3x flexible points, as somebody who spends a lot on reimbursable business lunches/dinners I’d get a lot of value out of such a card.

Chase hasn’t officially announced this change (and I very much doubt Gary’s intel on this is incorrect), but when they do make sure you ask for compensation. On the bright side, at least I won’t have to read several blog posts each month selling me the Chase Sapphire Preferred reminding me of the first Friday benefit.



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Zach
Zach

This is disappointing. Not that this is a huge benefit to lose, but it’s definitely the wrong direction. Very tempting to switch to AMEX MR for my primary earning from everyday spend, since my PRG is one of my older lines of credit and can’t be downgraded to a no-fee card.

What would you think we might see as compensation from this lost benefit?

CtownBin
CtownBin

I’m pretty sure that the PRG can be downgraded to the Green card, which has no anual fee… unless this has changed?

Joe
Joe

Green card annual fee after the first year.

Anom
Anom

Just a note that 1st Friday’s are also a benefit of the regular Chase Sapphire card too, though since that doesn’t have new signups one would have to downgrade to it.

PedroNY
PedroNY

Sad to hear, but I guess it does coincide with ALR going up to 2.5% from 1.75% at the end of the year. Too sad to see it go, as it is a nice bump to charge $20,000/month on first Friday of the month, pick up 60,000 UR points at 1.75% transaction cost. Alas, didn’t expect that to last as it did for this long already!

Cheers,

PedroNY

Max
Max

Another option is to open a Chase AARP card for Restaurants and Gas as it gives unlimited 3% cashback in those categories. (You do NOT have to be an AARP member or 55 years old to get that card)

Mike
Mike

Every day I feel more and more blessed that I’ve got a grandfathered Citi Forward that earns 5x at restaurants. The major issuers really have been neutering the restaurant category lately. As someone that puts a large volume of business meals on their personal CC I really appreciate a high reward rate. If only I could do the volume that the commenter PedroNY does each month! I’d be earning 100k TYP a month!!

PedroNY
PedroNY

Mike, you actually can do that — it is called ALR (Amazon Local Register), if you value TY points at $.01 (which you should at bare minimum, they can be redeem at pure cash/check form via student loan or mortgage payment request), you can certainly generate 2.5% return on all purchases even at today’s ALR sign up rate. You business needs to be a restaurant. Good luck.

Cheers,

PedroNY

Kevin
Kevin

The good news that comes out of this is no more 1st Friday CSP “content” from the boarding area bloggers!!

Glenn
Glenn

Oh no, what will Mommy Points write about now?
(joke)

Marc

Thought I’d give it a try and ask via secure message about compensation:

“I would like to inform you that we have not made any
changes to the First Friday bonus. You will continue to
earn the bonus point for dinning charges made on First
Friday of each month.”

I guess I’ll wait… 🙂

desigooner
desigooner

I think the 1 UR bonus for booking travel via the Chase Portal is also going away starting next year. So any flight or hotel bookings via the Chase Portal will net the usual 2x points vs. 3x points

TravelBloggerBuzz

Thank God it’s all over!

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