One of my favorite Chase Sapphire Preferred® Card’s perks is officially going away. Chase has confirmed that the card’s 10% anniversary points bonus will end on Oct. 1, 2026.

The benefit was originally introduced during the card’s 2021 refresh and rewarded cardholders with a bonus of Ultimate Rewards® equal to 10% of their total purchases made during the previous account anniversary year.

What Was the 10% Anniversary Bonus?

The perk essentially gave cardholders one additional Ultimate Rewards® point for every $10 spent on the card each year.

For example, someone who spent $25,000 annually on the Sapphire Preferred would get 2,500 bonus points back after their account anniversary. While that’s not exactly a massive haul, the bonus acted as a small rebate for cardholders who consistently used the card for everyday purchases.

Unlike exciting welcome bonuses or travel perks, the anniversary bonus wasn’t heavily marketed. Still, it added solid value over the long term—especially for users who transferred Ultimate Rewards®  to airline and hotel partners for higher redemption value.

Chase Hasn’t Announced a Replacement

Chase hasn’t announced any replacement benefit tied to the removal of the anniversary bonus, though the notice does tease additional Sapphire Preferred® Card updates in the future. Whether that means new statement credits, earning changes, or additional travel perks remains to be seen—although it will probably involve a bunch of monthly credits and even more tracking. 

The timing is also notable. Over the past year, card issuers have increasingly shifted toward targeted credits and coupon-style perks while scaling back simpler long-term benefits that required little effort to use. Chase itself has already reshaped parts of its Ultimate Rewards® ecosystem with updates to Chase Travel redemptions and Points Boost functionality, making this latest change feel more like part of a broader trend than an isolated adjustment.

Existing Cardholders Still Have Time

Fortunately, current Sapphire Preferred® cardholders won’t lose the perk immediately. Eligible anniversary bonuses will continue to be posted through Sept. 30, 2026. After that date, the benefit will disappear entirely for cardholders.

For many casual users, the change may not move the needle much. But for heavier spenders who valued every extra Ultimate Rewards® point they could earn, it marks another example of a credit card issuer shaving value from a long-standing perk.