Link: Apply now for the Chase Sapphire Preferred® Card
The Chase Sapphire Preferred® Card is regarded as one of the most lucrative credit cards out there. We’ve just seen an excellent new welcome offer rolled out on this card, which I’d consider to be in line with the best offers that we’ve seen. If eligible, this is an ideal time to apply for the card.
In this post:
Chase Sapphire Preferred improved bonus details
The Chase Sapphire Preferred has a new welcome offer where you can earn 100,000 Ultimate Rewards points after spending $5,000 within the first three months.
Assuming you have this card, Ultimate Rewards points can be redeemed for a minimum of 1.25 cents each toward travel through the Chase Travel Portal, meaning 100,000 points will get you at least $1,250 in travel. However, thanks to the other ways to redeem them, I value Ultimate Rewards points at 1.7 cents each, so to me, those points are worth $1,700.
As a point of comparison, the card previously offered a bonus of 60,000 points, so this is a lot better.
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 (though there are increasingly reports of people being approved in spite of being over the 5/24 limit).
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 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
Read a full review of the Chase Sapphire Preferred here.
Bottom line
The Chase Sapphire Preferred is offering a welcome bonus of 100,000 Ultimate Rewards upon completing minimum spending. This great bonus will get you at least $1,250 worth of travel, though potentially much more than that, thanks to Chase’s travel partners.
In my opinion this is the most well-rounded mid-range credit card out there, and this is the perfect time to apply, as offers on the card don’t get better than this.
Do you plan on picking up the Chase Sapphire Preferred with 100K bonus points?
Ben just wanted to let you know I enjoy reading your site so when I applied for this card this week I made sure to use the link from your post.
@ DanG-DEN -- You're so kind, thanks so much for your support, and for reading in general, I really appreciate it!
Question: I had the Reserve card I cancelled yesterday, to be eligible for the Preferred. I read different comments on how long to wait before applying for Preferred -- 1 billing cycle, 1 week, 48h... If I just tried today and get denied because it's too early, could I just try again 1 week from now or so, or does that denial count against me? Thanks
If I have the Chase Freedom card and have Rewards points under that card… which doesn’t allow transfer to partner airlines/hotels (I think it’s limited to Accor and one other partner) and I get this card, can I move the un-transferable Reward points from the Freedom card to this one so I can actually transfer them to a hotel/airline partner?
@ ZTravel -- Yep, you sure can!
It should be pointed as well that the offer is for 100k points at 5k spend and yes it is better than the previous offer but it was 60k points for 3k spend so I think it is adjusted accordingly. This post mentions that this current offer is better now but at least point out the fact the higher points also equals a higher spend.
I tried applying today and was reminded that I was once approved for this card on May 11, 2021. So I'm five weeks short of being eligible to apply again. I realize they could pull the offer at any time/their discretion, but does anyone know how long the offers typically stay open for?
@ Jeff -- Usually these offers last for several weeks, but of course there's no guarantee that will be the case this time around. Good luck!
Out of curiosity, if someone signed up for a CSP >2 years ago but did not receive the signup bonus (not enough spend within the allotted timeline) would that technically make them eligible for the new SUB? (Assuming all other requirements are met)
@ Jonathan -- Yep! The 48-month rule is specific to receiving a bonus, and not just to having the card.
Fantastic offer. Plus the 200K points bonus for the IHG card. Good time to be signing up for credit cards!
Not sure if it's been covered but I also received via email a 200k MR points bonus offer for Amex Plat Business. Spend requirement is kinda high, though. $20k/3months.
But yes, card issuers see the pain coming and are sweetening the pot, it seems.
@Santos
When you say 'pain coming' you mean recession?
So you're suggesting that with a potential recession, banks are giving out more unsecured loan and encouraging to spend even more?
Now that's messed up.
@Eskimo banks see recession coming and want to encourage more consumer spending to weather the storm. Plain and simple. And of course they’ll take a gamble on debt, because that can be used as collateral. We’ve seen this movie before. Actually, you should watch the movie. It’s called The Big Short.
Chase has great rewards card products. However, JPMorgan Chase is the top bank in the world for fossil fuel financing. That is incredibly disturbing given the climate crisis and I plan to cancel my Sapphire Preferred at the next renewal.
Great, get lost.
Thanks for engaging with my comment! I’m a regular OMAAT reader and don’t plan to go anywhere. Have a great day!
Another greenwashed hypocrite.
You criticize a bank for financing something yet you still keep the card until renewal and not canceling immediately.
ICYMI, every use of the card is contributing to the bank financing.
You whine about fossil fuel and climate crisis yet you refuse to stop reading a travel blog.
ICYMI, travel industry runs on fossil fuel. Your phone is built in factories powered by fossil fuel. The internet you're using is...
Another greenwashed hypocrite.
You criticize a bank for financing something yet you still keep the card until renewal and not canceling immediately.
ICYMI, every use of the card is contributing to the bank financing.
You whine about fossil fuel and climate crisis yet you refuse to stop reading a travel blog.
ICYMI, travel industry runs on fossil fuel. Your phone is built in factories powered by fossil fuel. The internet you're using is powered by fossil fuel.
Your very existence is contributing to climate problems.
Now That is incredibly disturbing.
Feel free to contact Chase and ask them when I last used my CSP. Also feel free to ask them when it’s up for renewal. Thanks for engaging and have a fabulous day!
What? I cannot apply because I have a CSR Card already?
@ CSR does not get it? -- Correct, if you currently have the CSR, you're not eligible for the bonus on the CSP.
Well this sucks. I signed up for the CSP last week to pay for my taxes...
Ask them to match the current offer.
Hi Ed,
Thanks for the suggestion. I sent Chase a secured message asking for a match. Just received their confirmation!
I get value out of the CSR, using the LGA Sapphire lounge frequently, and would prefer to minimize the time without the Reserve lounge benefit while I apply for the CSP/bonus. Aside from the CSR, I currently hold two United personal cards. Are there any suggestions for holding a CSP and CSR simultaneously? I.e. downgrade CSR to Freedom, apply for CSP, product change Freedom back to CSR while working on CSR minimum spend?
Any idea how long such signon bonus offers usually last? If someone for example is just on the edge of reaching their 4-year bonus time limit?
@ Eric Schmidt -- It hasn't been announced. Typically these offers stay around for several weeks or a couple of months(ish), but there's no guarantee that will be the case this time around.
I'm in the exact same boat. Five weeks short. Just posted a comment asking this exact question before reading your comment!
Does anyone know if this 100k offer is available via referrals?
Trying to see if I can double dip on the 100k and 10k referral bonus.
Just checked, doesn't look like it is (yet...referrals often lag public offers so it could be coming soon)
Rumor on Reddit is 4/8 for this
If I currently have a CSR that has been open for >7 years, could I cancel today, and reapply in ~1 week to get the bonus?
don't cancel - downgrade + keep the points
long time reader and used your link for the referral and approved (had been a victim of 5/24 and finally got out of that jail last month!). Thanks for all the free advice since 2015!
@ Jay -- Thanks so much for the support, and for reading, I really appreciate it! :-)
If I currently have a CSP that has been open for >4 years, could I cancel today, and reapply in ~1 week to get the bonus?
Yes I would recommend to just downgrade to the original Chase Freedom and then apply for the CSP
My understanding is you have to go through a billing cycle first.
incorrect. one week is fine