[Expired] Chase Just Increased the Minimum Spend Requirement on the Sapphire Reserve Card

Update:The offer mentioned below has expired and is no longer available.

The Chase Sapphire Reserve^® is the issuer’s premier rewards credit card. With a $795 annual fee, it comes with the most expansive travel and lifestyle perks — from lounge access to travel statement credits (rates & fees).

However, Chase has quietly updated the terms of its welcome bonus offer for new applicants — and it’s not exactly good news. The minimum spending requirement has increased by 25%.

Here’s what you need to know.

Same Bonus Points, Higher Spend

With the Chase Sapphire Reserve card, eligible applicants can earn 60,000 bonus points after spending $5,000 in the first 3 months of account opening. That’s a $1,000 increase in the minimum spend requirement without any boost to the bonus points or extension of the introductory period. Previously, you could earn the same stash of points by spending $4,000 on purchases in 3 months.

This marks a notable 25% hike in the spending requirement, but what really stands out is that Chase has simultaneously brought back its best-ever welcome bonus for the Chase Sapphire Preferred^® Card. Right now, you can earn 100,000 bonus points after spending $5,000 within the first 3 months of account opening.

Chase Sapphire Reserve Card vs. Chase Sapphire Preferred Card

The Chase Sapphire Preferred card is still a great travel credit card for most people. With a down-to-earth $95 annual fee, the card is still a powerful earner with 5x points on Chase Travel purchases, 3x points on dining, select streaming services, and online groceries, 2x points on all other travel purchases, and 1x points on all non-bonus purchases.

Although the Chase Sapphire Preferred card doesn’t have a $300 annual travel credit or lounge access, you can still get those perks with the Chase Sapphire Reserve card later on. A year after opening your Chase Sapphire Preferred card account, you can request an upgrade to the Chase Sapphire Reserve card.

While a product change won’t make you eligible for a new welcome offer, those who qualify for the Chase Sapphire Preferred card can currently earn a 100,000-point welcome bonus offer — significantly higher than what’s being offered for the Chase Sapphire Reserve card. And here’s the kicker: both cards have the same $5,000 spending requirement within 3 months. Then, if you decide you want more perks later on, you can request an upgrade to enjoy them with the Chase Sapphire Reserve card.

Final Thoughts

Welcome bonus offers are usually your one-time opportunity to rake in a ton of points, so you want to make sure you meet the spending requirements and terms. With the Chase Sapphire Reserve card, new applicants will have to fork over more money than ever before — and do so for the same number of points.