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.