News, Reviews

Chase Sapphire Preferred In-Branch Offer: 70,000 Points – Is the Branch Worth the Bonus?

h/t to Doctor of Credit

Chase has re-introduced its in-branch offer for the Sapphire Preferred Card, boasting a sign-up bonus of 70,000 Ultimate Rewards (UR) points. This represents a 10,000 point increase over the standard online offer. While tempting on the surface, let’s dissect the true value of this additional bonus and see if a trip to the branch is truly warranted.

The Breakdown: Earning the Bonus

To snag the full 70,000 UR points, you’ll need to spend $4,000 within the first three months and an additional $2,000 within six months of account opening. This translates to $6,000 in spending to unlock the coveted extra 10,000 points.

While 10,000 UR points are certainly valuable, we must consider the concept of opportunity cost. By dedicating $6,000 in spending to maximize this bonus, you might miss out on potentially lucrative sign-up offers from other cards, or even a combination of low minimum spend requirement cards for multiple full SUB’s.

Wait, I can Earn Multiple SUB's Instead?

Well, sort of. Consider the how far that additional $2k spend could go towards a different card’s sign up bonus, and how many more points you’d net from this process. For the extra spend required on the in-branch offer you’d earn a minimum of 12,000 UR points ($2k spend for 2,000 UR, plus the 10,000 UR point kicker).

Instead, think about the impact that the same $2k can have on the minspend of, gee, I dunno, let’s say, a Freedom Unlimited, a Freedom Flex, a Venture One, and a Citi MileUp card. Mhmm, 4 cards. Each of these cards has a $500 minimum spend to earn their respective sign up bonuses, and none of them have an additional annual fee, either.

For the same $2k extra in spend you could either have:
An extra 10,000 UR points from your CSP, or
20,000 UR from the CFU, 20,000 UR from the CFF, 20,000 Cap 1 miles from the Venture One, and 15,000 AA miles from the CitiCard for a whopping grand total of 75k more miles.

Is 10k > 75k? Nahhhhh…..

The Verdict: Branch Out or Strategize?

I don’t think there’s any confusion what my opinion on this one’s going to be, but your individual travel goals may be different than mine. You may truly value those 10k+2k UR points over other SUB’s and just want to stick with what’s easy, and that’s ok!

Given the option and looking long term, however, it would benefit an applicant more to load up on a few other cards and earn those SUB’s instead. If 5/24 is a concern, which is overwhelmingly valid, take a look at business cards instead. While you may not be able to find a business card touting a low, $500 MSR to net a load of points, I can guarantee that the extra $2k you’re able to throw at a biz MSR will be much more valuable than spending the same for the in-branch CSP offer.

Getting to the Point

The in-branch Chase Sapphire Preferred offer is a decent-ish perk, but a calculated approach is far more beneficial to most applicants. Weigh the opportunity cost of spending $6,000 against alternative bonus structures and your personal redemption preferences. Remember, sometimes the best rewards come from strategic planning, not just a trip to the bank.