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Chase is currently offering an impressive $750 in travel rewards to new Chase Sapphire Preferred cardholders. 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 60,000 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 $750 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."
Special thanks to brisar for posting this deal on our forums!
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.
Unfortunately, the Chase Sapphire Preferred does have an annual fee of $95 — and it comes with a high APR.
- 60,000 bonus points
- 2X points on travel and dining at restaurants worldwide and 1 point per dollar spent on all other purchases
- 25% bonus when points are redeemed through Chase Ultimate Rewards travel
- No foreign transaction fees
- Travel protection benefits
- No travel restrictions or blackout dates
- Can pool your Ultimate Rewards points from other Chase cards (like Freedom and Reserve)
- $95 annual fee
- 18.24% to 25.24% variable APR
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.
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