This content is not provided or commissioned by American Express. Opinions expressed here are author's alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through American Express Affiliate Program.
Just a reminder that it is the time of year that we reap the benefits of the 7% annual points benefit on the Chase Sapphire Preferred® Card. On Flyertalk there are already reports from people who have had their February statements close, and they now have their 7% points bonus on points earned last year. Woohoo! My February statement has yet to close, so I still have a few days to wait for my points, but getting some “extra” Ultimate Reward points is always something to look forward to.
In July of 2012 a letter did go out that stated the 7% bonus will be paid on all new points earned on purchases made with the Chase Sapphire Preferred card during the previous year. For these purposes, “year” means the day after your December statement date one year, through the final date on the December statement the following year. It will post in January or February annually. However, the big “change” that letter announced is that the 7% bonus will not be earned on new account bonus points, annual points dividends from the previous year, points transferred into the account, or purchases that you returned.
There are mixed reports on people getting bonus points on their sign-up bonus, but it is possible those who are getting the 7% on the sign-up bonus got their card before the policy changed in the middle of 2012. Either way, If you plan to cancel your Sapphire Preferred in the near future, I would highly recommend waiting until after you get your 7% annual bonus that will come this month.
Has your 7% bonus posted yet? How many points did you get? Do the points seem to have been calculated correctly?
Disclosure: I do receive a commission if you are approved for a credit card using one of my affiliate links. As always, thanks for your support.