If you’re in the market for a travel credit card, you may want to check out this limited-time welcome bonus from Chase.
OFFER ENDING SOON: Chase Sapphire Preferred® Card Welcome Bonus
For a limited time, the Chase Sapphire Preferred® Card is offering new applicants an increased points earning opportunity.
New cardholders can earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. The previous welcome offer was for 60,000 bonus points.
This limited-time offer is ending soon.
It is worth $1,000 when redeemed for travel through Chase Ultimate Rewards®. But even if you don’t redeem the points for travel in the portal, they can still be used in a way that makes this deal worth your time.
Chase says this offer is available to you if you do not have any Sapphire cards and have not received a new card member bonus for any Sapphire cards in the past 48 months.
Let’s take a closer look at the Chase Sapphire Preferred® card to see if it may be a good fit for your wallet.
Chase Sapphire Preferred® Card: What To Know
The Chase Sapphire Preferred® is one of my favorite options for a “beginner” travel credit card.
With points multipliers for things like hotels, flights, dining and groceries, you’ll have a chance to earn on both your leisure and everyday purchases.
| Spending Category | Rewards Potential |
| Travel (booked through Chase Ultimate Rewards) | 5 points per dollar spent |
| Non-Chase Travel Purchases | 2 points per dollar spent |
| Dining (including takeout and delivery) | 3 points per dollar spent |
| Streaming Services | 3 points per dollar spent |
| Online Grocery Purchases (excluding Walmart and Target) | 3 points per dollar spent |
| All Other Purchases | 1 point per dollar spent |
It also offers travel-friendly benefits like:
- No foreign transaction fees
- Trip cancellation insurance
- Auto rental collision damage waiver
- Trip delay reimbursement.
The card has a $95 annual fee, which is manageable when compared to some of the more elaborate travel cards on the market.
Many cards in the category, such as the related Chase Sapphire Reserve®, charge more than $500 per year for access to their perks. (Money expert Clark Howard says most people do not travel enough to justify paying those fees.)
The combination of points earning opportunities and a manageable annual fee has landed the Chase Sapphire Preferred® on Team Clark’s “best of” lists for both travel and welcome bonus credit cards in 2023.
If you’re wondering if your spending habits would match the rewards you can earn with this card, I did an extensive spending breakdown in my review of the Chase Sapphire Preferred®.
Redemption Options for Chase Ultimate Rewards® Points
Sapphire Preferred cardholders receive a 25% redemption value increase if they use points earned to book travel via the Chase Ultimate Rewards program.
That means 1 reward point would be worth 1.25 rewards points if used to book travel.
That’s likely to be the most “valuable” use of your rewards points when spending with this card. And since it’s a travel credit card, theoretically the cardholder would be interested in a travel redemption.
However, you have several other options for redeeming the points you earn with this welcome bonus.
Those include:
- Point-for-point transfer to select hotel and airline rewards programs, including popular brands like Marriott, Hyatt, Southwest and United
- Statement credits
- Cash back
- Pay with your points with popular online services and retailers like Amazon, Apple and PayPal
Redemption values may vary on these options. Typically, you’ll receive a lower redemption rate than the 25% boost offered for travel booked through Chase.
Will you be considering adding this card to your wallet? Already have some experience with it? We’d love to hear your thoughts in the Clark.com community.
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