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There isn't a lot of great news in the travel world these days but Chase has some for new cardholders. Following the lead of American Express, Chase is extending the deadline to meet the spending requirements for many sign-up bonuses.
Sign-up Bonus Extension
Whether you were eyeing a 50,000-point bonus on the Chase Sapphire Reserve® or 100,000-point bonus on the Ink Business Preferred® Credit Card, no one wants to miss out on earning valuable sign-up bonuses because travel and spending routines have been disrupted.
Thankfully, Chase cardholders who applied for new accounts between January 1, 2020, and March 31, 2020, now have more time to meet their spending requirements. As originally reported by Miles to Memories and confirmed by AwardWallet, the spending requirement deadline will automatically be extended by three months. That's great news for new cardholders whose travel and spending patterns have changed because of COVID-19.
The Fine Print
A Chase spokesperson confirmed to AwardWallet that this extension applies to both consumer and business credit cards. Chase started notifying affected cardholders last week.
Chase has clarified that this extension does not apply to the second bonus for cards that offer a two-tiered bonus. For example, The World Of Hyatt Credit Card is currently offering up to 50,000 bonus points - 25,000 Bonus Points after you spend $3,000 on purchases in the first 3 months from account opening. Plus an additional 25,000 Bonus Points after you spend a total of $6,000 on purchases within the first 6 months of account opening.
Right now, the three-month extension would apply only to the first bonus. So cardholders who opened accounts between January 1, 2020 and March 31, 2020 have a total of 6 months (after the extension) to spend $3,000 and earn 25,000 points and 6 months (per the original terms) to spend $6,000 to earn a total of 50,000 bonus points.
While the three-month extension is great news for new cardholders, we haven't seen all the details in writing from Chase just yet. Cardholders who opened accounts between January 1 and March 31, 2020 should check their emails and account pages for specific updates.
Given that travel and spending patterns don't seem like they will be back to normal quickly, we will keep looking for a public announcement. It's certainly possible that Chase is still fine-tuning its policies and will have more details coming soon!
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