Milenomics² [No Annual Fee] Episode 78: A Heightened Sapphire Reserve Offer and UR Deep Dive

0:25 Chase Sapphire Preferred 100,000 Offer


• Direct Link (https://creditcards.chase.com/rewards-credit-cards/sapphire/preferred)





• $5,000 min spend in 3 months





• $95 annual fee (not waived first year)





• This is a higher than usual offer


05:14 Chase Referrals


• chase.com/referafriend (http://chase.com/referafriend)





• 10,000 points for each approval (capped at 100,000 per year)


06:30 Sapphire Churning Restrictions


• Eligible for welcome bonus if it has been ＞48 months since you last got a Sapphire welcome bonus (Preferred or Reserve)





• 5/24 still applies: 5 credit card approvals in the past 24 months (from any bank)





• Can’t be approved for a Sapphire Preferred if you currently have a Sapphire card (recommend downgrading to Freedom and waiting a month before applying)


12:09 Two Player Mode


• If neither person has a Sapphire card, apply “head on” or through a referral from a friend





• Then refer P2





• Being an authorized user on a card doesn’t prevent getting the welcome bonus





• This will leave you with ＞ 210,000 Ultimate Rewards


13:50 Ultimate Rewards: Value and Utility


• Easy 1 cpp cashout




• Sapphire Preferred 1.25 of uplift for travel booked through Chase portal





• Sapphire Reserve 1.5 cpp of uplift for travel booked through Chase portal (and a $300 per cardmember year travel credit)





• Transfer partners: Hyatt, United, Southwest, and more





• Points can be co-mingled between household




• Inflation in the travel portal is very real. 





• Prices for hotels and other activities get tough to compare





• Flights sometimes are pricing at a premium due to issues with fare classes and airlines wanting direct booking. 





• It pays to do the math, because a poor redemption can tank the value of your earning, and points are not free. 





• Cancellation terms not the same with Travel portal bookings vs. booking with miles sometimes. 





• Pay Yourself Back: erase charges in specific categories at ＞1cpp.


23:31 CSP/CSR Earning Strategy


• Sign up Bonus aside, these two cards are relatively weak in earning. 





• This creates a bit of an irony–they’re great cards to hold, but better in union with other UR earning cards





• Freedoms for 5x categories, some chase Business cards also earn 5x





• Over time a stable of chase cards become important





• Pooling of points means that the earning of 5x points can then be moved to your sapphire and redeemed for travel at ＞1cpp





• 5x at 1.25 = 6.25 cpp, 5x at 1.5 = 7.5 cpp. 


28:47 United/Southwest: Opportunity Cost


• For some people these cards are taking up slots and spend they want to use on Southwest or United Cards





• Might be best to get those cards first, holding them long term, then getting the CSP. 





• Changes to southwest might make you consider Southwest cards, but be rational, how many trips a year do you actually take? 





• The travel landscape changes fast, the flexibility of UR allow you to change with it. Southwest points do not. 


31:38 Q2 2025 “Point Offer”


• Targeted: Seeing increased uplift for United/Delta/Qatar premium cabin flights, and some (mostly nicer) hotels





• Sapphire Preferred 1.5-1.75 cpp





• Sapphire Reserve 1.75-2.25 cpp





• Upgrading from Preferred to Reserve seemed to retain the same “amount” of targeted uplift (ie, was getting 1.5 cpp on Preferred, then got 1.75 cpp on upgraded Reserve)





• Might someone be targeted for this shortly after approval? Hard to say. More datapoints needed.


37:10 Live Application.

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