TwuToday

Business_news The Chase Sapphire Preferred is offering its highest-ever bonus to new cardholders, and it’s worth up to $1,000

Business_news


Back to Top
A white circle with a black border surrounding a chevron pointing up. It indicates ‘click here to go back to the top of the page.’


Back to Top
A white circle with a black border surrounding a chevron pointing up. It indicates ‘click here to go back to the top of the page.’

Top



Crystal Cox/Business Insider


Business Insider recommends credit cards based on their overall value and ease of use. Sometimes, we receive a commission through The Points Guy affiliate network if you apply and are approved for a card, but our choices are always independent and objective.

  • For a limited time, theChase Sapphire Preferred® Cardis offering its best-ever sign-up bonus.
  • New cardholders can earn 80,000 Chase Ultimate Rewards points after spending $4,000 in the first three months from account opening.
  • 80,000 Chase points are worth $1,000 toward travel booked through Chase, or for dining, grocery, home-improvement, and charity purchases through Pay Yourself Back.
  • This bonus will only be available for a limited time, so don’t wait to apply.
  • See business Insider’s list of the best rewards credit cards »

For years, theChase Sapphire Preferred® Card has offered one of the bestsign-up bonusesamongrewards credit cards: 60,000 Chase points after new cardholders spend $4,000 in the first three months.

That bonus has just increased by 20,000 points, to 80,000 Ultimate Rewards points after you meet the same minimum spending requirement of $4,000 in the first three months. That gets you an extra $250 if you value each Chase point at 1.25 cents — which is how much points from the Sapphire Preferred are worth when you redeem them for travel, dining, grocery purchases, and more through Chase.

Regular APR

15.99%-22.99% Variable


Chevron icon
It indicates an expandable section or menu, or sometimes previous / next navigation options.

  • Details
  • Pros & Cons

    • Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $1,000 toward travel when you redeem through Chase Ultimate Rewards®.
    • 2X points on travel and dining at restaurants worldwide, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases.
    • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 80,000 points are worth $1,000 toward travel.
    • Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash’s subscription service. Activate by 12/31/21.
    • Earn 5X points on Lyft rides through March 2022. That’s 3X points in addition to the 2X points you already earn on travel.
    Pros
    • High sign-up bonus starts you off with lots of points
    • Strong travel coverage
    Cons
    • Doesn’t offer a Global Entry/TSA PreCheck application fee credit or any other statement credit benefits


    Read Our Review

    Read Our Review
    A looong arrow, pointing right

    We’re focused here on the rewards and perks that come with each card. These cards won’t be worth it if you’re paying interest or late fees. When using a credit card, it’s important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.

    Business_news 80,000 Chase points is hard to beat

    Some credit card welcome bonuses fluctuate every few months, but theChase Sapphire Preferred® Card has held steady with a 60,000-point offer for the last several years. That means this increase is extremely rare, so you shouldn’t expect it to come back any time soon.

    Not only are Chase Ultimate Rewards pointssome of the best rewards for booking travel, but they’re also great for saving money on common spending categories thanks to a recently introduced feature.

    The newPay Yourself Back toollets you use points from the Sapphire Preferred (or theChase Sapphire Reserve®) to cover purchases in the following categories:

    • Dining (including takeout and delivery services)
    • Grocery stores
    • Home improvement
    • Charity

    This isone of the most valuable new credit card features that’s been introduced during quarantine. Each of your points is worth 1.25 cents apiece when you redeem them through Pay Yourself Back, and you can apply points to purchases made up to 90 days in the past. 

    Redeeming 80,000 Chase points for travel booked through Chase or through Pay Yourself Back would get you $1,000 in value, since your points are worth 1.25 cents apiece when used this way. You can also transfer Ultimate Rewards points to travel partners such as British Airways, Hyatt, Marriott, and United and potentially get even more value per point, but that may not be top of mind right now, as many of us are still holding off on traveling.

    Business_news It’s one of the best rewards cards, even beyond the new bonus

    Getting $1,000 in value from the sign-up bonus is a great reason to consider the Sapphire Preferred, but this is agreat travel cardeven without factoring in the welcome offer.

    In exchange for a $95 annual fee, you get 2x points on dining and travel, 5x points on Lyft rides through March 2022, and 1 point per dollar on everything else. You also get some of thebest travel insurance available on a credit card— including trip delay insurance andprimary rental car insurance.

    Especially now that you can get solid value out of your Chase points for non-travel purchases such as groceries and dining, theChase Sapphire Preferred® Cardis a great option if you’re looking to maximize rewards during quarantine. You could always choose to hold on to those 80,000 points and continue earning rewards so you’re ready to book a flight or hotel stay when you’re ready to travel again. 

    Business_news Don’t forget about the 5/24 rule for Chase applications

    If you’re considering the Chase Sapphire Preferred, now is a great time to apply, but you’ll want to check on your 5/24 status before you do so.

    Chase has a so-called 5/24 rulethat prevents you from getting approved for most Chase credit cards if you’ve opened five or more credit card accounts in the last 24 months. That limit of five cards applies to accounts across all banks, not just Chase, so if you’ve been on a credit card application spree over the last two years, you may not be approved. You can check your 5/24 status by opening a freeCredit Karma account and viewing the opening dates for any credit cards you’ve opened in the past.

    If you’re in the clear and you don’t have this card — or its more premium, sibling, theChase Sapphire Reserve® — yet, now is a great time to apply and earn an excellent welcome bonus of 80,000 Ultimate Rewards points. Just remember that this bonus offer could end at any time, so don’t wait too long to apply.

    Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.

    Business Insider may receive a commission from The Points Guy Affiliate Network, but our reporting and recommendations are always independent and objective.

    Please note: While the offers mentioned above are accurate at the time of publication, they’re subject to change at any time and may have changed, or may no longer be available.

    Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. What you decide to do with your money is up to you. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.


    Loading
    Something is loading.

    More:

    Personal Finance Insider
    Credit Cards
    PFI TPG
    Chase


    Chevron icon
    It indicates an expandable section or menu, or sometimes previous / next navigation options.


    Read More