Negligible Blunder in Travel: Forgetting a Basic Rule Led to a Missed $2,400 Opportunity
Revamped Article
Titbit: Bon voyage ... almost
Who says you can't learn from your mistakes? Let us spill the beans on a costly blunder I made, and help you dodge the bullet when chasing travel benefits and earning points like a boss.
Dished out a grand: My recent boo-boo raked in a hefty price tag of $2,400 in lost travel opportunities. An error so simple, even novice points enthusiasts would cringe at my carelessness. Fret not, for I'm here to steer you right and dodge the pitfalls I stumbled upon.
Biting the dust: In the realm of credit cards, few score higher than the Chase Sapphire Preferred. A recent offer boasting an all-time high bonus of 100,000 Chase Ultimate Rewards points was too lucrative to pass. By meeting a spend requirement of $4,000 within the first 3 months, you'd reap a whopping $2,000 in travel value on average. You could easily use these points to score a lie-flat business class ride to Europe or a posh stay at a five-star hotel (check out the best ways to use Chase points for more tips).
Enter my wife, who's historically owned a Chase Sapphire Preferred and was advised to downgrade to a Chase Freedom Flex for everyday spending. My objective was to enable her to reapply for the Sapphire Preferred and score the bonus again. By doing so, we'd bag a whopping 120,000 Ultimate Rewards points, worth an estimated $2,400, or double that value if we were strategic about it!
Game over: The game plan hit a snag when my wife's online application was met with an instant denial. My heart sank as I researched the root cause of her woes. I had forgotten to check when she earned the last Sapphire card bonus – instead, I fixated on the approval date of when she opened the card. I realized that the actual Chase Sapphire rule is this: You will not be approved unless it's been 48 months since you earned your last Sapphire card bonus. My wife must have earned her bonus in the third month of her cardmembership, meaning we had reapplied 47 months after her bonus had posted. Oops!
Lesson learned: Even though this blunder deprived us of instant gratification, I found a silver lining: Chase's denial on this occasion saved us from applying for a card on which my wife was ineligible to earn the bonus.
The moral of the story: If you're hankering for another Sapphire bonus, shrug off card opening dates and focus on when you earned the bonus. If you're unsure of the bonus timing, reapply at least 52 months after opening the account on the safe side. My wife and I will still score a boatload of points, but we'll bide our time before jumping in (unbelievable, I know). My hope is that the 100,000-point offer is still available when she's ready to dive back in.
Swimming possibilities: Before you dive in, consider some fine gems from our partners that can amp up your travel game.
- The Business Platinum Card® from American Express
- American Express® Gold Card
- Capital One Venture X Rewards Credit Card
- The Platinum Card® from American Express
- Chase Sapphire Preferred® Card
Remember, signing up for our daily newsletter is the key to staying informed and avoiding costly blunders like this one. Happy travels!
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- To learn from travel mistakes and maximize your benefits, follow travel expert's advice to avoid costly errors like the one that led to a $2,400 loss in travel opportunities.
- When choosing travel credit cards, the Chase Sapphire Preferred often ranks high due to its lucrative bonuses, such as the recent offer of 100,000 Chase Ultimate Rewards points.
- The Chase Sapphire Preferred can provide significant travel rewards, including averagely $2,000 in travel value when meeting a spend requirement and redeeming points for flights or hotel stays.
- Be aware of airline reviews and suggestions on the best ways to use Chase points to maximize their value, like scoring a lie-flat business class ride to Europe or a five-star hotel stay.
- For everyday spending, consider switching to a Chase Freedom Flex card to enable reapplication for the Sapphire Preferred and double the points earned, but carefully review the Chase Sapphire rule – a 48-month wait since earning the last Sapphire card bonus is necessary.
- Stay informed about credit cards, finance, and lifestyle news to keep up with the latest offers, trends, and tips for managing travel rewards and making strategic decisions for your finances.
- Beyond the Chase Sapphire Preferred, other travel credit cards worth considering include the The Business Platinum Card® from American Express, American Express® Gold Card, Capital One Venture X Rewards Credit Card, The Platinum Card® from American Express, and others.
- Signing up for a daily newsletter is essential for staying updated on various topics, including travel rewards, business, technology, education-and-self-development, entertainment, general-news, sports, and dining offers from trusted partners.
- By staying well-informed, you can make smart choices and take advantage of opportunities to enhance your travel experience, investment strategies, and personal growth, ensuring successful, well-planned journeys ahead.
