Chase is currently offering an impressive 80,000 bonus points for new Chase Sapphire Preferred Cardholders, which is $1,000 in travel when booked through Chase Ultimate Rewards. If you’ve been searching for a credit card with travel benefits and a decent sign-on bonus, we’re taking a look at the pros, cons and how to cash in on this offer.
How to Earn the Chase Sapphire Preferred Card Bonus
For a limited time, you’ll earn 80,000 bonus points when you open a new Chase Sapphire Preferred account and spend $4,000 in the first three months. Those points translate to a $1,000 travel reward when you redeem them through the Chase Ultimate Rewards program.
One caveat: You’ll only receive the bonus points if you don’t have a Chase Sapphire card and haven’t received a new cardmember bonus for any Sapphire card in the past 48 months.
If you’re not sure whether you’ve ever received a bonus from a Sapphire card in the past, just follow Slickdealer kobedaman24‘s advice and “check your point balance in your Chase statements. When it spiked up 50K, that’s when.”
Chase Sapphire Preferred Benefits & Drawbacks
Kiplinger calls the Chase Sapphire Preferred card the best credit card for flexible travel redemptions, and it’s easy to see why. Cardholders can use their points for travel, trade them in for cash or gift cards, or transfer them at a 1:1 ratio to various hotel and airline loyalty programs.
Is the Chase Sapphire Preferred Card Right For You?
This is definitely a smart card to consider if you love traveling, as reward points are worth 25% more when you redeem them for things like airfare, hotels, car rentals and cruises. It’s also a good choice if you’re searching for a large sign-up bonus and plan to spend $4,000 over the next few months regardless.
That being said, its high APR makes it less than ideal if you know you’ll carry a balance. It also may not be the best option for homebodies who rarely travel.
Still, RandomSDNeo points out that your points “don’t expire as long as you have a Chase credit card account with reward points,” so infrequent travelers can use the card to save up for a big trip down the road. You can find more of the best credit card offers and deals on Slickdeals.