The ultra-competitive credit card market shows no signs of slowing down anytime soon.
Today, Chase announced new benefits and bonus point opportunities on its Chase Sapphire Preferred® Card and Chase Sapphire Reserve® credit card without any increases in the annual fees. The changes will launch on Aug. 16 for all new and existing card holders.
The biggest additions are to the Chase Sapphire Preferred, which gets three brand-new bonus categories:
- 5 points for every dollar you spend on all travel purchased through Chase Ultimate Rewards
- 3 points per dollar on select streaming services
- 3 points per dollar on online grocery purchases (excluding Target, Walmart and wholesale clubs)
Also, the existing dining category on the Chase Sapphire Preferred will increase from 2 points per dollar to 3 points per dollar, and will continue to include not just restaurants but also eligible delivery services and takeout. Travel purchases outside of Chase Ultimate Rewards earn 2 points per dollar as before.
Related: Here’s why the Chase Sapphire Preferred is our favorite travel credit card for beginners.
The Chase Sapphire Preferred will also now feature a 10% anniversary point bonus. At each account anniversary (meaning each year on the date you first opened the card), card holders will get bonus points equal to 10% of your total purchases made in the previous year. This 10% bonus is awarded on your overall spending, not on how many points you earned. So if you spent $25,000 in a year across all categories — including the bonus categories — you’ll get 2,500 extra points.