And now this week, we get more good news from Chase – the best-ever bonus on the Chase Sapphire Preferred Card. You’ll earn a bonus of 80,000 Ultimate Rewards points after you spend $4,000 within the first three months of account opening.
These 80,000 Ultimate Rewards points are worth $1,000 towards travel when you redeem them in the Chase Travel Portal, but if you know how to use Chase’s transfer partners, you can extract even higher value from this bonus.
And even though 2020 has been a year of far reduced travel plans for many due to COVID-19, stocking up on a healthy stash of Ultimate Rewards points to use towards future travel plans is definitely a great move.
For years we’ve recommended the Chase Sapphire Preferred to anyone getting started in the world of points and miles, and this updated bonus makes it even more valuable if you’re just getting started, or have recently become eligible to open the card again.
The Chase Sapphire Preferred earns:
- 2x points on travel and dining
- 1x on everything else
To qualify for the Chase Sapphire Preferred, you must meet the following conditions:
- You can’t currently hold a Chase Sapphire card, whether it be the Chase Sapphire Reserve or the Chase Sapphire Preferred
- You can’t have earned a bonus on a Chase Sapphire card within the last 48 months.
- You must be under 5/24
Note: if you’re an authorized user on a spouse’s Sapphire Preferred, you are eligible to open the card and earn the bonus should the above conditions be met.
The annual fee on the Chase Sapphire Preferred remains $95.
What to Do With 80,000 Bonus Points
There are a TON of different ways to use Chase’s Ultimate Rewards points to turn travel dreams in to realities. Here is a quick article on what each member of the 10xT team would do with Chase Ultimate Rewards points.
Some quick ideas for you:
- Round-trip to Europe by transferring the points to United (30,000 miles each way at saver level)
- One or more round-trip flights to Hawaii by transferring the points to Southwest.
- Almost 3 nights at famous Park Hyatt’s in Sydney and Paris
- Or of course $1,000 toward any other type of travel that you so desire (flights home for the holidays, hotels for upcoming weddings, a rental car for your road trip, etc.)
Historically one of the best travel card time and time again on the market, the Chase Sapphire Preferred is even more attractive for eligible cardholders thanks to this elevated bonus of 80,000 Ultimate Rewards points. It would’ve been better if Chase had included some additional earning opportunities, either through higher category rates, or the addition of new categories, but being able to earn at least $1,000 of travel after $4,000 spend in the first three months is pretty incredible.
Anyone with an interest in points/miles and a desire to travel should strongly consider grabbing the Chase Sapphire Preferred Card right away.
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Editors Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.