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- Chase Sapphire Preferred® Bonus
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The Chase Sapphire Preferred® card is probably one of the most popular credit cards with a bonus today. Currently, you can earn 80,000 bonus points that are worth $1000 toward travel when you redeem through the Chase Ultimate Rewards® program, which is one of the best credit card rewards programs. This is the best card bonus value for a card with an annual fee below $100 (*the $95 annual fee is waived the 1st year).
The ongoing rewards are also great, at 2 points per dollar spent on Travel and Dining. Like other great travel cards, there’s no foreign transaction fee.
Also, keep in mind Chase also offers bonuses for their Checking and Savings accounts as well.
We’ll review the Chase Sapphire Preferred® card bonus below.
How The 80K Bonus Points Are Worth $1000
You’ll earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. If you think you’ll have any difficulty meeting that spending requirement, we go over some options further down below. You’ll be able to earn an additional 30,000 bonus points after you spend $30,000 on purchases within your first year of account opening.
You’ll have several options for redeeming your bonus points, including cash back, gift cards, or to book travel through the Ultimate Rewards program. Redeeming with cash back or gift cards will only yield a value of 1%, or $800 for the 80K points. When you book travel (airfare, hotels, car rentals, cruises) through the Ultimate Rewards program, you’ll get 25% more value resulting in $1000 worth of travel with your bonus points.
The bonus offer is one of the best, but this card won’t be a good fit if you don’t spend much on Travel and Dining, where you’ll earn 2 points per dollar. Purchases outside of these categories will only earn 1 point per $1.
The Dining category includes fine dining, as well as casual spots. The Travel category includes airlines, hotels, motels, timeshares, car rental agencies, cruise lines, travel agencies, discount travel sites, campgrounds and operators of passenger trains, buses, taxis (Uber counts), limousines, ferries, toll bridges and highways, and parking lots and garages.
If you don’t spend much on Travel and Dining, a more flexible rewards card like the Barclays Arrival® card may be a better option with its 2% earnings rate on all purchases.
One of the best ways to take advantage of the Chase Sapphire Preferred® card is to supplement it with the Chase Freedom card. Both cards earn Ultimate Rewards points, so you can pool them together. The Chase Freedom® card earns 5% cash back on categories that change each quarter. Earn 5% on those categories when appropriate, and use your Sapphire Preferred® card on all other purchases. The 25% more value on travel through the Ultimate Rewards program is only a benefit of the Sapphire Preferred® card, so having both is a great pairing.
Finally, one of the biggest benefits for travelers with this card is the option to transfer your points over to partner airline and hotel loyalty programs at a 1:1 rate. It’s a great way to get that airline ticket or hotel night if you’re falling a bit short on those miles/points.
|Airline & Hotel 1:1 Points Transfer Partners|
|Aer Lingus AerClub||British Airways Executive Club||Flying Blue AIR FRANCE KLM||Iberia Plus|
|Korean Air SKYPASS||Singapore Airlines KrisFlyer||Southwest Airlines Rapid Rewards®||United MileagePlus®|
|Virgin Atlantic Flying Club||IHG® Rewards Club||Marriott Rewards®||The Ritz-Carlton Rewards®|
|World of Hyatt®|
Earning The 80,000 Bonus Points
If you need some ideas on top of your everyday spending to meet the $4,000 on purchases in the first 3 months requirement, use our Card Bonus Spending Requirement guide. Here are some options included in the guide:
- Purchase Gift Cards that you know you’ll end up using. Grocery store and Restaurant gift cards are popular choices. See some of the best gift card ideas here. American Express and Visa Gift Cards offer more flexibility but will incur purchase fees, and possibly shipping fees when purchased online. Check this page for updated fee-waiver promo codes from Amex. *Tip: call in to have your Cash Advance limit set to $0 before purchasing gift cards as sometimes issuers will code them as Cash Advances and you’ll incur the fees. Citi has been known to do this.
- Fund new Checking/Savings accounts with your credit card and earn bonuses too. Many top banks like Chase and TD Bank have sign-up bonuses and can be funded with a credit card towards the opening deposit. See current bank offers here and banks that can be funded with a credit card here.
Many other options include paying your property taxes, your rent, or your mortgage but see the guide for all the details.
What’s The Competition?
Below are some credit cards with sign-up bonuses that you’ll want to compare with the Chase Sapphire Preferred® card before applying.
Barclays Arrival® Premier World Elite Mastercard®
Capital One® Venture® Rewards Credit Card
Citi® Double Cash
Plan To Supplement With The Chase Freedom® Card?
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