The bonus for one of Chase’s standout cards, the Chase Sapphire Preferred® Card, just got even better for a limited time. As of April 20, 2023, new cardholders can get the following offer: Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $1,000 when you redeem through Chase Ultimate Rewards®.
Such a hefty bonus virtually ensures that the Sapphire Preferred retains its reputation as one of the best travel cards on the market. It was named one of the top cards of 2023 in NerdWallet’s Best-of Awards.
80,000 Ultimate Rewards® points equals at least $1,000 toward travel. When redeemed for travel through Chase’s travel portal, 1 point is equal to 1.25 cents. But it’s possible to squeeze even more value out of those points by transferring them at a 1:1 rate to Chase travel partners such as Air Canada, British Airways, Hyatt, Southwest and United.
The new 80,000-point sign-up bonus represents the biggest welcome offer on the Chase Sapphire Preferred® Card in nearly two years. Chase briefly offered a sign-up bonus of 100,000 points in June 2021 before dropping back down to 60,000 points.
The Chase Sapphire Preferred® Card offers a host of benefits in addition to the sign-up bonus that can offset its $95 annual fee, including:
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Bonus points each account anniversary year equal to 10% of your total spend in the previous anniversary year.
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5 points per $1 spent on travel purchased through Chase Ultimate Rewards®.
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2 points per $1 spent on other travel purchases.
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3 points per $1 spent on dining, including eligible delivery services, takeout and dining out.
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3 points per $1 spent on online grocery purchases (excluding Target, Walmart and wholesale clubs).
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3 points per $1 spent on select streaming services.
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1 point per $1 spent on all other purchases.