Fight disinformation. Get a daily recap of the facts that matter. Sign up for the free Mother Jones newsletter.

A couple of days ago I got an offer in the mail for a Chase Sapphire card. Normally I don’t even open these things, but this one came in such an opulent bit of packaging that I wanted to see what was inside. Answer: nothing much. It was just a box designed to look thick and inviting with only a few pieces of paper inside.

But having opened it, I went ahead and read the offer. Here’s the deal: Chase is so anxious for me to try their card that if I sign up they’ll give me 100,000 bonus points if I spend $500 in the first three months — something that’s obviously not much of a problem. Once I’ve done that, I can cash in those points for $1,000.

In other words, Chase is basically willing to pay me $1,000 just to try their card. As near as I can tell, there are no gotchas, and a quick Google search seems to confirm this. Merely getting me to give Sapphire a try is worth a thousand bucks to them.

So what’s going on here? Either (a) we’re in the middle of some kind of fantastic credit card bubble and it’s going to burst soon, or (b) the high-end credit card business is so insanely lucrative that paying people $1,000 just to sign up is worth it to them. I’m not sure which one I fear the most.

HERE ARE THE FACTS:

Our fall fundraising drive is off to a rough start, and we very much need to raise $250,000 in the next couple of weeks. If you value the journalism you get from Mother Jones, please help us do it with a donation today.

As we wrote over the summer, traffic has been down at Mother Jones and a lot of sites with many people thinking news is less important now that Donald Trump is no longer president. But if you're reading this, you're not one of those people, and we're hoping we can rally support from folks like you who really get why our reporting matters right now. And that's how it's always worked: For 45 years now, a relatively small group of readers (compared to everyone we reach) who pitch in from time to time has allowed Mother Jones to do the type of journalism the moment demands and keep it free for everyone else.

Please pitch in with a donation during our fall fundraising drive if you can. We can't afford to come up short, and there's still a long way to go by November 5.

payment methods

ONE MORE QUICK THING:

Our fall fundraising drive is off to a rough start, and we very much need to raise $250,000 in the next couple of weeks. If you value the journalism you get from Mother Jones, please help us do it with a donation today.

As we wrote over the summer, traffic has been down at Mother Jones and a lot of sites with many people thinking news is less important now that Donald Trump is no longer president. But if you're reading this, you're not one of those people, and we're hoping we can rally support from folks like you who really get why our reporting matters right now. And that's how it's always worked: For 45 years now, a relatively small group of readers (compared to everyone we reach) who pitch in from time to time has allowed Mother Jones to do the type of journalism the moment demands and keep it free for everyone else.

Please pitch in with a donation during our fall fundraising drive if you can. We can't afford to come up short, and there's still a long way to go by November 5.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate