This was originally posted on 10/24/17, reposting on 11/7/17 because the offer is now publicly available. Hat tip to Frequent Miler.
The Offer
- There is a new offer on the Chase Personal Premier credit card. The offer is as follows:
- 10 points for every dollar spent up to $12,000 in spend in your first year
- 7,500 points for adding an authorized user after they make their first purchase
- Annual fee of $85 is waived the first year
Card Details
- Annual fee of $85 waived first year
- Card earns at the following rates:
- 5x points per $1 spent at Marriott & Ritz Carlton locations
- 2x points per $1 spent on airline tickets purchased directly with the Airline, at car rental agencies and at restaurants
- 1x points per $1 spent on all other purchases
- Anniversary bonus of a free night certificate for a category 1-5 property.
- 15 credits towards Elite membership after approval and every year after account anniversary
- 1 elite credit for every $3,000 spent
- This product is available to you if you do not have this card and have not received a new cardmember bonus for this card in the past 24 months
- Chase’s 5/24 rule does apply to this card
Our Verdict
$10,000 in spend for the full bonus is a lot. It’s important to note that in the first year you’ll earn a maximum of 10 points per $1 spent, so if you spend $1 at a Marriott property you’d earn the 5 base points and then 5 bonus points rather than 15 points total. This is better than the 150,000 point offer that required $30,000 in spend. I think it’s best to compare this to the public offer of 80,000 points after $3,000 in spend, that offer does not have the $85 annual fee waived. After the minimum spend you’d earn a minimum of 83,000 points on that card, so that means you’d need to spend at least $8,300 on this card to come out ahead in points (if you put that extra $5,300 in spend on a 2% card you’d earn $106 more than covering the annual fee).
Let’s assume you meet the full $12,000 spend and get 120,000 points.
- Normal offer: 83,000 points + save yourself $9,000 in spend. Putting that on a 2% card would earn you $180, minus the $85 fee = $105
- This offer: 120,000 points
An extra 37,000 points is probably worth more than $105 for most people. If you have a card that earns at over 2%Â then things get a bit more tricky. Personally I think this is a good offer, spending $1,000 per month shouldn’t be too hard for most people and it’s nice that the annual fee is waived. I think the bigger question is if even applying for this card makes sense considering the Chase 5/24 rule does apply to it.
Hat tip to PM_ME_YOUR_DOGE_PIC on /r/churning & readers Ari, Jon, ScottS & Nick
