In mid-April, we saw a fantastic limited time welcome bonus rolled out on the Chase Sapphire Preferred® Card, which anyone who is eligible should consider. I wanted to recap this offer, since it has been a few weeks, and it’s anyone’s guess how much longer this will be around.
Chase Sapphire Preferred offering 80,000 points
The Chase Sapphire Preferred has a limited time welcome offer of 80,000 Ultimate Rewards points after spending $4,000 within the first three months. Previously the card offered a bonus of 60,000 points, so this is a huge improvement. While this offer is marketed as being limited time, we don’t yet know the end date.
Ultimate Rewards points can be redeemed for a minimum of 1.25 cents each toward travel through the Chase Travel Portal, meaning 80,000 points will get you at least $1,000 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 ~$1,360.
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. In 2021 the card underwent a refresh that made it even more compelling. The card has the following perks, among other things:
- 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 flights, lost bags, rental cars, 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, or can be redeemed at 1.25 cents each toward a travel purchase
- The Sapphire Preferred offers a $50 hotel credit every cardmember year, usable through the Chase Travel Portal
For a limited time, the Chase Sapphire Preferred is offering a welcome bonus of 80,000 Ultimate Rewards points upon completing minimum spending. This is an excellent bonus on a card that offers so much value. 80,000 Ultimate Rewards points will get you a minimum of $1,000 toward travel, though in reality you can get much more value than that with Chase’s transfer partners.
All of this comes after the card underwent a positive refresh in 2021, making it more rewarding. In my opinion this is the most well-rounded mid-range credit card out there. If you don’t yet have the Chase Sapphire Preferred and are eligible, you absolutely should apply with this offer.