New 60,000 Point Welcome Bonus For Chase Sapphire Preferred

Filed Under: Chase, Credit Cards
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We’ve long considered the Chase Sapphire Preferred® Card to be one of the most well-rounded cards out there, and also one of the best cards for beginners, given that it has a low annual fee, good return on spend, excellent perks and often has a generous welcome bonus.

The Chase Sapphire Preferred® Card is now offering a welcome bonus of 60,000 bonus Ultimate Rewards points after spending $4,000 on purchases within the first three months. We value Ultimate Rewards points at ~1.7 cents each, so that’s a bonus worth potentially $1020!

This is the best public offer we’ve seen on this card, though it’s worth noting that unlike previous offers, the $95 annual fee is not waived for the first year.

The bonus alone is tempting, but there are several other great perks of the card worth considering.

No foreign transaction fees

This might sound like a given, but there are quite a few cards with ~$100 annual fees that still have foreign transaction fees. For example, as much as I love The Amex EveryDay® Preferred Credit Card from American Express, it has a $95 annual fee and still has foreign transaction fees.

2x points on dining and travel

The Chase Sapphire Preferred® Card offers double points on dining and travel, which I find to be among the most useful bonus categories out there. These bonus categories apply for purchases in the US and abroad (some other cards restrict bonus categories to US purchases), and Chase takes a pretty broad definition of those categories.

“Travel” covers everything from flights to hotels to Ubers to parking to subway tickets.

CSP-Parking-Meter
Even parking qualifies for 2x points with the Chase Sapphire Preferred

Great travel & purchase protection

Often great travel protection is reserved for premium cards, though the Chase Sapphire Preferred® Card offers all kinds of great travel protection in the event your flight is delayed, your bags get lost, etc.:

Visa Signature BenefitsDetails
Baggage Delay Benefit• You can be reimbursed up to $500 when some or all of the cost of a common carrier ticket is charged to your card (therefore award tickets should be eligible if the taxes are charged to the card)

• You can be reimbursed a maximum of $100 per day for emergency purchases of essential items at a destination other than your current residence
Lost Luggage Reimbursement• Receive reimbursement for lost or damaged checked or carry-on bags and personal property

• Maximum reimbursement is $3,000
Trip Cancellation/Interruption Insurance• Receive the non-refundable amount of the passenger fare or $5,000 (whichever is less) in the event of a trip cancellation or interruption

• The cancellation or interruption must be caused by death, accidental injury, disease, or physical illness of the passenger or immediate family member

• This also covers you if your airline goes out of business or tickets are otherwise cancelled by the carrier
Trip Delay Reimbursement• Receive up to $300 if your trip is delayed for more than 12 hours

• The trip has to be delayed by an equipment failure, inclement weather, labor strikes, or hijacking
Warranty Manager Service• Extends the free repair period under the original manufacturers repair warranty up to one additional year

• Motorized vehicles (boats, cars, aircraft, etc.) aren’t included

Primary CDW coverage on car rentals

One other perk I really value in credit cards is car rental coverage, given how much car rental companies often charge for this protection directly. The Chase Sapphire Preferred® Card offers primary coverage against damage up to the cost of most rental car vehicles provided you decline the CDW coverage offered by the rental agency. This includes economy through luxury class vehicles, vans that carry fewer than seven passengers, and SUVs.


I‘m happy I used my Chase Sapphire Preferred when I got rear ended in my rental

Awesome travel partners

When collecting credit card points, I always recommend earning flexible points, which can be transferred to a hotel or airline partner. That’s useful because it protects you from any devaluation that a program may make. The Chase Sapphire Preferred® Card earns Ultimate Rewards points, which can be converted at a 1:1 ratio to the following transfer partners:

AirlinesHotels
Aer Lingus Aer ClubIHG Rewards Club
Air France/KLM Flying BlueMarriott Bonvoy
British Airways Executive ClubWorld Of Hyatt
Iberia Plus
JetBlue TrueBlue
Singapore KrisFlyer
Southwest Airlines Rapid Rewards
United MileagePlus
Virgin Atlantic Flying Club

Among those, I find Air France/KLM FlyingBlue, Singapore KrisFlyer, United MileagePlus, and World of Hyatt to be the most useful.


25,000 points is enough for a free night at the Park Hyatt Maldives

Unlock the full potential of no annual fee cards

Since the Chase Sapphire Preferred® Card earns Ultimate Rewards points, it lets you greatly increase the value of the points you earn on some Chase no annual fee cards. Specifically, I have the following three no annual fee cards that earn points that can be converted into Ultimate Rewards points at a 1:1 ratio in conjunction with the Sapphire Preferred:

  • The Chase Freedom® Card offers 5x points in rotating quarterly categories, on up to $1,500 of spend per quarter; the card has no annual fee
  • The Chase Freedom Unlimited® offers 1.5x points on everyday spend; the card has no annual fee
  • The Ink Business Cash℠ Credit Card offers 5x points on the first $25,000 spent in combined purchases each anniversary year on cellular phone, landline, internet and cable TV services, plus 2x points on the first $25,000 spend in combined purchases each anniversary year on gas stations and restaurants; the card has no annual fee

So having the Sapphire Preferred would let you earn 1.5x points per dollar spent on the Freedom Unlimited, 5x points in rotating categories with the Freedom, etc.

A word about getting approved for the card

There are two major restrictions to note when it comes to getting approved for the Chase Sapphire Preferred® Card.

First of all, the bonus on the card isn’t available to current cardmembers of this card, or previous cardmembers who have received a new cardmember bonus for the card within the past 48 months.

Furthermore, this card is subjected to Chase’s 5/24 rule, meaning that you typically won’t be approved for the card if you’ve opened more than five new accounts in the past 24 months. So if you’re new to miles & points, that’s another reason to make this one of the first cards you apply for, since you may not be eligible for the bonus in the future.

The Chase Sapphire Reserve is also worth considering

For many, the Chase Sapphire Reserve® is going to be a better option. This is the premium version of the Preferred Card, and offers triple points on dining and travel, a $300 annual travel credit, and more. The card also has a $450 annual fee.

Bottom line

For someone looking for a single mid-range credit card with a reasonable annual fee, big welcome bonus, great return on spend, and lots of travel protection, the Chase Sapphire Preferred® Card is tough to beat, in my opinion.

This is especially true if you combine it with some of Chase’s great no annual fee cards, which can earn you 1.5-5x points per dollar spent, all without paying any additional annual fees. And getting 60,000 Ultimate Rewards points as a welcome bonus is just the icing on the cake.

Will you be applying for the Chase Sapphire Preferred® Card with the 60k bonus?

Regarding Comments: The comments on this page have not been provided, reviewed, approved or otherwise endorsed by any advertiser, and it is not an advertiser's responsibility to ensure posts and/or questions are answered.
Regarding Comments: The comments on this page have not been provided, reviewed, approved or otherwise endorsed by any advertiser, and it is not an advertiser's responsibility to ensure posts and/or questions are answered.

Comments

  1. Michael:

    tl;dr: No.

    “The product is not available to either (i) current cardmembers of any Sapphire credit card, or (ii) previous cardmembers of any Sapphire credit card who received a new cardmember bonus within the last 48 months. If you are an existing Sapphire customer and would like this product, please call the number on the back of your card to see if you are eligible for a product change. You will not receive the new cardmember bonus if you change products.”

  2. Doesn’t the 5/24 rule typically bar individuals who have opened at least 5 accounts in the past 24 months, rather than more than 5 as you wrote?

  3. Got approved for the CSP in middle of February and asked via secured message to be matched to 60k offer a couple days ago because a friend was targeted for the 60k no annual fee and was denied. Asked again today and they confirmed the match, already put the 10k into my account because I have already reached minimum spend (haven’t received the 50k bonus yet though) and they did not mention the $95 not being waived. So I might have lucked out and would encourage anyone who got approved within the past 90 days to do the same!

  4. @Lisa w: yes you can. Since you never received a sign up bonus yourself you are eligible unless you are account holder of the Sapphire Reserve, then you’d have to wait 48 months until eligible for another Sapphire Card sign up bonus.

  5. Anyone know when this offer will end. My DW will be eligible end of May. Hope it’s still around.

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