As a low spender I would jump on this offer immediately, but you might have different priorities. I have 3 Chase cards and closed one recently, but I hope to apply to the Sapphire Preferred next. Not only are the 50,000 bonus points great, but I really feel as a premium card it is best in class right now. In terms of benefits and annual fee it's a way better match for me than any of Amex's cards.