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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 the signup bonus on the Chase Sapphire Reserve® or 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.
Our Take
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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They should extend the deadline because the second wave of the pandemic is coming.
With all the travel restriction, I am wonder if travel cc will get much attention.. who know?
Nice gesture from Chase.
I hope Citi and other banks will follow with the same approach.
Please continue the “fine-tuning” because we all need it. Thank you.
It is about time, but will life return to acceptable normalcy within 3 months?
Certainly a welcome change, but it’s a bit surprising to not extend the second tier as well: those higher amounts could use the additional time even more so.
Chase stopped approving almost all business credit cards, terrible move!
I am surprised by this, but I’m afraid that means I just don’t know my stuff. I would have thought: 1 – they have more people relying on credit, and thus they’re making more money off them carrying balances and 2 – money is cheap to borrow right now, with almost zero interest rates for banks from the Fed. I would have thought both of those overcome the risk of delinquencies they now face. But, I’m confident they know their math better than I do.
Could you care to share how you found out? Any update?
At least companies are doing something, I’ll give them credit. Of course it’s also for their own good, but it can be mutually beneficial overall.
It’s definitely been tougher to meet the spending requirements during this quarantine period. I’m glad they are extending the timeline.
Any chance they are going to allow more than the 5/24 limit in these times for some of us to get more access to credit ?
If anything probably the opposite as they look to tighten up the number of new credit lines.