Unless you’ve been stranded on a desert island all weekend, then you’ve almost certainly heard about the Chase Sapphire Preferred’s 100,000 point sign up bonus because it pays affiliate bloggers a hefty commission when you open a card with their link, and in fairness it is indeed a historically high sign up bonus (my link is not an affiliate link, it’s not my style). Should you go for it? Maybe, but it’s definitely not the best thing that happened in travel hacking since AA retired its torture-tube E-140 fleet. A few things to consider about the card’s 100,000 points:

  • You’ll have to be under Chase’s 5/24 limit to even get the card, with or without a bonus
  • You can’t have earned a Sapphire sign-up bonus in the last 48 months
  • You can’t currently have a Sapphire product open
  • This is only 10,000 points more than the current usual 90,000 points offer, hardly something to write home about UPDATE: Harv notes that 80,000 points is the usual offer, thanks for the correction
  • The Chase Ink Preferred has a normal 100,000 point sign up bonus, and you can churn it — repeatedly

That last bullet is of particular note. You can get multiple Ink Preferred cards (even in the same week), they earn the exact same Ultimate Rewards, they don’t count against 5/24 when opened, you don’t have to worry about them showing up on your credit report, you get essentially the same benefits as the Sapphire Preferred, and they’re honestly pretty easy to get as far as Chase cards go. You can product change them to a no annual fee Ink Cash for 5x at office supply stores when the annual fee hits the second year too. Even better, Chase regularly targets business owners for 125,000 Ink Preferred sign up bonuses by mail or just for asking a banker in branch.

So, if you’re excited for the 100,000 point Sapphire Preferred bonus and it still fits given everything, by all means go for it but make sure you do the Chase Modified Double Dip which will earn you 160,000 points rather than getting the Sapphire Preferred 100,000 points by itself. Otherwise though, maybe consider opening an Ink Preferred or two instead.

Where you’d have to be to not have heard about the Chase Sapphire Reserve sign-up bonus.