Not only are we seeing a best-ever bonus on one of the most popular travel rewards credit cards out there (which is arguably the best credit card bonus we’ve ever seen), but the card has also undergone some major positive changes, which make it more compelling than ever before. If you don’t yet have this card and are eligible, this is the card you should apply for over any other one out there.
Chase Sapphire Preferred offering 100,000 points
The Chase Sapphire Preferred is offering the best publicly available bonus we’ve ever seen on this card. You can earn a bonus of 100,000 Ultimate Rewards points after spending $4,000 within three months. Previously the card offered a record bonus of 80,000 points, and prior to that we saw a bonus of 60,000 points, so this is absolutely huge.
Ultimate Rewards points can be redeemed for a minimum of 1.25 cents each towards travel, meaning 100,000 points will get you at least $1,250 in travel. However, personally I value Ultimate Rewards points at 1.7 cents each thanks to the other ways to redeem them, so to me this bonus is worth ~$1,700.
Who is eligible for the Chase Sapphire Preferred bonus?
You can be approved for the Chase Sapphire Preferred if:
- You don’t currently have a Chase Sapphire card (Preferred or Reserve)
- You haven’t received a new cardmember bonus on a Chase Sapphire card (Preferred or Reserve) in the past 48 months
Note that this is based on whether you’re the primary cardmember on one of these cards — if you’re currently an authorized user (or have been one in the past), you’d be eligible. Also keep in mind the general rules of applying for Chase cards, including the 5/24 rule. See this post for more details on eligibility requirements for the Sapphire Preferred.
Why the Chase Sapphire Preferred is worth it
The $95 annual fee Chase Sapphire Preferred is one of the most well-rounded mid-range cards out there. The card has undergone a refresh that makes it even more compelling, so now the card has the following perks:
- The Sapphire Preferred has an amazing rewards structure — earn 5x points on travel booked through the Chase Travel Portal, 3x points on dining, streaming services, and online grocery store purchases (excluding Target, Walmart, and wholesale clubs), 2x points on travel purchases, and 1x points on all other purchases
- The Sapphire Preferred has great travel protection, including for delayed travel, lost bags, car rentals, and more
- The Sapphire Preferred acts as a good “hub” card for Chase Ultimate Rewards, and lets you maximize the other cards in the portfolio
- The Sapphire Preferred offers flexible points that can be transferred to a Chase Ultimate Rewards airline or hotel partner, can be redeemed at 1.25 cents each towards a travel purchase, or for a limited time can be redeemed at that rate towards everyday expenses
- The Sapphire Preferred offers a $50 hotel credit every cardmember year, usable through the Chase Travel Portal
The Chase Sapphire Preferred is offering a welcome bonus of 100,000 Ultimate Rewards points. This is the best bonus we’ve ever seen on this card, and the best publicly available welcome bonus we’ve ever seen on any card. That will get you a minimum of $1,250 towards travel, though in reality you can get even more value than that with Chase’s transfer partners.
As if that wasn’t amazing enough already, the card has also undergone a refresh, which makes this card much more rewarding, and in my opinion makes this the most well-rounded mid-range credit card out there.