The Chase Sapphire Preferred Card is losing a distinctive benefit that distinguished it in certain respects, and I can only imagine that cardholders will be displeased by this news.
In this post:
Chase discontinuing 10% anniversary bonus points feature
As noted by Doctor Of Credit, Chase has recently updated its website to indicate that a well-liked feature of the Chase Sapphire Preferred will be coming to an end:
The Anniversary Bonus is being phased out. You will continue to earn 10% of your spending until 10/1/26.
To provide context, the card has an impressive rewards framework, offering 5x points on transactions made through Chase Travel, 3x points on dining, eligible streaming services, and online grocery purchases, 2x points on all other travel transactions, and 1x point per dollar on all other purchases.
Additionally, the card has provided 10% anniversary bonus points, calculated based on your basic spending using the card. In essence, points accrued from welcome bonuses and spending multipliers were not eligible for the 10% enhancement. This means if you spend $5,000 annually on the card, you’d receive 500 bonus points, which are credited on your account anniversary.
At this time, this is the only modification that Chase has announced regarding this $95 annual fee card. It remains uncertain whether this is the full extent of the changes, or if Chase is simply making this known to provide advance warning.
The Sapphire Preferred 10% bonus points feature is concluding
This is unfortunate; it probably doesn’t alter the overall value.
Naturally, I dislike witnessing a card issuer remove a feature without offering something to take its place. Therefore, this is a disappointing turn of events, irrespective of how you look at it.
It certainly appears that we’ve reached a stage where card issuers are increasingly seeking to manage costs, given how much they’ve been pouring into their card offerings in recent years. I’ve contended that transferable points are likely nearing a turning point, as we are also witnessing a rise in cost management related to how individuals can use their points.
I doubt this modification will significantly affect the calculations for most users of this card when it comes to deciding whether to retain it. From my perspective, the 10% bonus was notable in that it served as a catchy marketing element and sounded appealing, but I question whether a 10% bonus on basic spending was truly the factor that tipped the balance between the card being worthwhile or not for most individuals.
Admittedly, for some users, this may indeed represent a “final straw” scenario, where they may have been uncertain about the card, and this pushes them to conclude it’s not worth holding on to.
This shouldn’t dramatically alter the card’s overall value.
Bottom line
Starting from purchases made on October 1, 2026, the Chase Sapphire Preferred will no longer grant 10% anniversary bonus points, as it has since 2021. The card’s bonus categories are projected to remain the same, but this still clearly signifies a negative shift, and it’s unfortunate to witness such perks being diminished.
What are your thoughts on this change to the Chase Sapphire Preferred?