Chase Sapphire Preferred Card Bonus: 60,000 Points for New Cardholders

This limited time offer is worth $750 in free travel booked through Chase Ultimate Rewards.

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I’ve been collecting frequent flyer miles since I was a teenager in the 1980s, and I started taking it very seriously in 2006. Since then, I’ve earned and spent millions of points and miles, largely through credit card rewards. Since 2013, I’ve almost never paid cash for a flight or hotel room, despite taking dozens of trips a year.

Between this personal experience, and my career as a credit card expert, it’s no wonder that so many people ask me what credit card they should get to start earning travel rewards. In most cases, the answer is the Chase Sapphire Preferred® Card.

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Sapphire Preferred Review

There’s no one best travel credit card that’s right for everyone, but the Chase Sapphire Preferred actually works like having over a dozen different rewards credit cards. That’s because it allows you to transfer your rewards to miles with 10 airlines and points with three hotel programs. Although it might not be ideal for the most frequent travelers and highest spenders, it’s part of a family of Chase cards that has a built-in upgrade path. So when it comes time to take your travel rewards game to the next level, you won’t have to start from scratch with an entirely different card and rewards program.

Chase Sapphire Preferred Rewards Rate

Bonus Category Rewards Rate Limit
Travel 2x points None
Dining 2x points None
Grocery Stores 2x points $1,000 per month
Lyft 5x points None
Other Purchases 1x point None

The card offers accelerated rewards earning for travel and dining purchases. The Sapphire Preferred earns 2x points per dollar spent at restaurants and on eligible travel purchases. In fact, Chase broadly defines travel to include not just airfare, hotels and rental cars, but expenses like parking, tolls and public transit too.

Sapphire Preferred cardmembers can also earn 2x points per dollar spent at grocery stores, up to $1,000 per month. This limited-time benefit began on November 1, 2020 and is valid until April 30, 2021. The rewards-earning promotion is automatic for all cardholder and no activation is required.

Additionally, the Sapphire Preferred awards 5x points per dollar spent with Lyft through March 2022. That’s 3x points for the Lyft transaction and 2x points for the travel category purchase (for a total of five Ultimate Rewards points).

The Chase Sapphire Preferred awards 1x point per dollar on all other spending.

Chase Sapphire Preferred Bonus

New applicants can earn 60,000 bonus points after using their card to spend $4,000 within three months of account opening. This is worth $750 in travel reservations booked through Chase, but potentially more when transferred to airline and hotel partners. The Chase Sapphire Preferred bonus is generally regarded as among the best credit card bonuses available.

The Chase Sapphire Preferred bonus is available to you if you do not currently have any Sapphire card and have not received a new cardmember bonus for any Sapphire card in the past 48 months.

Referral Bonus Program

Once you’ve become Sapphire Preferred cardholder, you can also earn additional Ultimate Rewards points through Chase’s Refer-a-Friend program. Earn up to 75,000 bonus points per year by referring friends for the Chase Sapphire Preferred Card. That’s 15,000 bonus points for each friend who gets approved.

Chase Sapphire Preferred Benefits

In addition to the limit-time offer of an 60,000 sign-up bonus and accelerate earnings for travel and dining purchases, the Chase Sapphire Preferred features some of the best travel and purchase protections available. Additionally, this award-winning credit card issuer also offers

Travel Protections

While the Sapphire Preferred is not considered to be among the best no-annual-fee credit cards, this travel rewards card offers valuable benefits. The Chase Sapphire Preferred travel insurance benefits include trip cancellation, trip interruption and baggage and trip delay protections.

  • Trip Cancellation: This policy covers you for up to $10,000 per person and $20,000 per trip for cancellation of a trip for a covered reason such as injuries or sickness of the traveler or an immediate family member, as well as severe weather, military orders or jury duty.
  • Trip Interruption: This policy also covers you for up to $10,000 per person and $20,000 per trip when your trip is interrupted for a covered reason.
  • Baggage Delay: This benefit can reimburse you for up to $100 per day for up to five days when your luggage is delayed for at least six hours.
  • Rental Car Insurance: This benefit covers your rental car for collision damage or theft, so long as you decline the optional insurance and pay for the rental with your card.

Purchase Protections

When shopping online or in-person, it includes purchase protection for damage or theft up to 120 days and an automatic extended manufacturer’s warranty where applicable.

  • Purchase Protection: Your purchases made with your card are covered for theft and accidental damage for 120 days from the date of purchase. The limit is $500 per claim and $50,000 per account.
  • Extended Manufacturer’s Warranty: This coverage offers you an additional year on your manufacturer’s warranty, up to $10,000 per claim and $50,000 per account.

DoorDash Benefit

Chase Sapphire Preferred cardholders also receive a complimentary DashPass subscription from the restaurant delivery service DoorDash. Although the DashPass is a limited-time benefit, it will last a minimum of one year after activating the offer by December 31, 2021.

Pay Yourself Back

Ultimate Rewards Points are worth 25% more now through April 20th, 2021 when redeemed for purchases in current categories of grocery, dining, home improvement and contributions to select charities.

Chase Dining

Ultimate Rewards Points are worth 25% more when redeemed through the new Chase Dining hub in Chase Ultimate Rewards, now through April 30th, 2021. Cardmembers can explore the new Chase Dining Hub’s secure website.

Foreign Transaction Fees

The credit card issuer does not charge any foreign transaction fees for international purchases.

Chase Sapphire Preferred Credit Score

While Chase doesn’t detail the credit score needed to qualify for the Sapphire Preferred Card, it’s generally recommended to have a credit score of good to excellent (670-850) before applying. You can check and monitor all three of your credit reports for free and even potentially boost your credit score by several points using this free service.

Average Percentage Yield (APR)

The Chase Sapphire Preferred APR is a variable regular APR based on creditworthiness. APR is the interest rate for a whole year, rather than just a monthly rate, as applied to whatever balance you carry from one statement period to the next. Chase will determine your APR during the approval process. However, APRs can fluctuate periodically as a credit card issuer adjusts its rates to the market.

Chase Ultimate Rewards Points

Chase Ultimate Rewards points are travel rewards points from the card issuer Chase. They are best redeemed for travel either through the Ultimate Rewards website or transferring to travel partners. According to The Points Guy, Chase points are worth two cents each. That’s in the top tier of rewards points.

Do Chase Ultimate Rewards Points Expire?

Ultimate Rewards points never expire as long as your account remains active and in good standing. When redeemed through the Chase website, you can use them for virtually any flight, hotel, rental car and other travel.

Can You Transfer Chase Ultimate Rewards Points?

Chase travel rewards are powered by Expedia, so you can book just about anything through their portal directly with your Chase points. You can also transfer points to an airline or hotel partner at a 1:1 ratio. That means one Chase point is worth one United mile, one Marriott point or one point in any of the participating programs.

Chase Ecosystem

Another thing to consider is that this card is a vital part of what many people think of as the “Chase Ecosystem.” This refers to a number of credit cards offered by Chase that feature reward points that can be combined.

For example, when you have the Chase Freedom Flex℠, you can earn 5x points per dollar for purchases from select retailers and merchant categories. By itself, the rewards that you earn from the Chase Freedom are worth just 1 cent each. But when you also have a Chase Sapphire Preferred, then you can combine those rewards, and redeem them for 1.25 cents each for travel reservations.

Or, you can transfer your rewards to airline miles or hotel points. The same ability to combine points is true of the Chase Freedom Unlimited, Ink Business Preferred℠ Credit Card and Ink Business Cash℠ Credit Card.

Redeeming and Transferring Sapphire Preferred Points

Points are worth 1.25 cents each when redeemed through the Chase Ultimate Rewards travel center, but they can also be transferred to airline and hotel partners at a 1:1 ratio. When you’re able to redeem these rewards for premium class international flights or hotel reservations during peak season, then it’s often possible to realize several cents in value per point redeemed.

For example, it’s not uncommon to redeem 15,000 points for a free night in a Hyatt hotel that costs several hundred dollars a night. Or, you can transfer 150,000 points to frequent flyer miles, which you can redeem for a business class ticket to Europe that would have cost over $5,000.

How to Transfer Points Between Chase Cards

To transfer points between one account and another, first login to Chase.com and select an account. Look for “See Balance” under the “Ultimate Rewards” heading, and then click “Redeem” or “Redeem Rewards.” That will bring you to the Ultimate Rewards home page, and one option will be “Combine Points” From there, you can select an airline or hotel program or your Chase Sapphire Preferred account. Then you’ll have to input your member ID number and confirm it. Finally, you’ll choose the number of points you wish to transfer in 1,000 point increments.

  1. Login to your Chase account and select one of your card accounts.
  2. Go to “See Balance” below “Ultimate Rewards”
  3. Select “Redeem” or “Redeem Rewards” and look for the “Combine Points” option.
  4. Determine how many points you will transfer, confirm you member ID number and agree to transfer.

Thankfully, all points transfer to partners in a 1:1 ratio, and most transfers are instantaneous once confirmed. However, Singapore Airlines tend to take up to a day, and Marriott Bonvoy can take up to two days.

How To Transfer Chase Sapphire Points to Chase Travel Partners

The very best value and use for points usually comes from moving your Chase points to a transfer partner. Don’t move a point until you have a plan to use the resulting miles or points. Keeping them in the bank at Chase is the best strategy until you’re ready to book.

The key to getting maximum value from your Chase Ultimate Rewards points is transferring them to travel partners. To do so, first login to Chase.com and select your Chase Sapphire Preferred account. Look for “See Balance” under the “Ultimate Rewards” heading, and then click “Redeem” or “Redeem Rewards.” That will bring you to the Ultimate Rewards home page, and one option will be “Transfer to Travel Partners.” From there, you can select an airline or hotel program. Then you’ll have to input your member ID number and confirm it. Finally, you’ll choose the number of points you wish to transfer in 1,000 point increments.

  1. Login to your Chase account and select the Chase Sapphire Preferred account.
  2. Look for “See Balance” under the “Ultimate Rewards” heading and click “Redeem” or “Redeem Rewards.”
  3. Select “Transfer to Travel Partners” and review Chase’s current airline and hotel partners.
  4. Input the number of points to transfer, input and confirm your points transfer.

Thankfully, all points transfer to partners in a 1:1 ratio, and most transfers are instantaneous once confirmed. However, Singapore Airlines tend to take up to a day, and Marriott Bonvoy can take up to two days.

The list of airline partners includes:

  • Aer Lingus
  • British Airways
  • Emirates
  • Flying Blue (Air France/KLM)
  • Iberia
  • JetBlue
  • Singapore Airlines
  • Southwest
  • United Airlines
  • Virgin Atlantic

Chase Ultimate Rewards gives you access to all of the three big airline alliances. For example, you could use British Airways points to book flights on American Airlines.

Hotel partners include mega-brands Hyatt, IHG and Marriott. Marriott has the biggest list of properties of any hotel chain in the world. The Hyatt program has gained popularity since Marriott launched its new Bonvoy program, however. IHG also offers a large list of popular and luxury brands. In fact, Chase offers a fee-free IHG co-branded card that offers great value and a big sign-up bonus for a no-annual-fee credit car.

How To Upgrade Chase Sapphire Preferred to Chase Sapphire Reserve®

The Sapphire Preferred is a great card for those who are just getting started earning travel rewards, and it continues to be a solid choice for all but the most frequent travelers and hardcore award travel enthusiasts.

But if you ever find yourself wanting more, it’s pretty easy to call the credit card issuer and request a product change to the ultra-premium Chase Sapphire Reserve. With its $550 annual fee, the Chase Sapphire Reserve offers 3x Ultimate Rewards points on travel and dining and 1X points on all other purchases. Additionally, it returns 1.5 cents in value per point redeemed towards travel reservations made through Chase Ultimate Rewards.

Much like its rival, the Platinum Card® by American Express, the Chase Sapphire Reserve also features a Priority Pass™ Select airport lounge membership and a $300 annual travel credit. However, a side-by-side comparison of these three popular products show what a high-value travel card the Sapphire Preferred is for consumers.

Chase Sapphire Preferred® Card Chase Sapphire Reserve® Platinum Card® from American Express
Annual Fee $95 $550 $550
Sign-Up Bonus 60,000 bonus points 50,000 bonus points 60,000 Membership Rewards Points
Bonus Requirement Spend $4,000 in first 3 months Spend $4,000 in first 3 months Spend $5,000 in first 3 months
Rewards Rates
  • 5x points on Lyft
  • 2x points on dining & travel
  • 1x points on other purchases
  • 10 points on Lyft
  • 3x points on dining & travel
  • 1x points on other purchases
  • 5x points on flights with American Express Travel
  • 5x points on hotels with American Express Travel
  • 1x points on other purchases
Annual Credits No
  • $300 for travel-related expenses
  • $120 DoorDash credit
  • $200 for airline fees
  • $200 Uber credit
Global Entry Credit No $100 $100
TSA Pre✓® No $100 $100
Lounge Access No Priority Pass Select Membership Priority Pass Select Membership
Travel Protection Yes Yes Yes
Purchase Protection Yes Yes Yes
Point Transfers Yes Yes Yes
Foreign Transaction Fees No No No

Bottom Line: Chase Sapphire Preferred Review

The Chase Sapphire Preferred Card is one of the gold standards for earning travel rewards. It starts you off with a generous sign-up bonus, and then continues to offer strong value by allowing you to earn double points on all travel and dining expenses.

But when it comes time to redeem your rewards for travel, this card really shines. You can take advantage of some really strong transfer partners such as United, Southwest, Singapore, Virgin Atlantic and Hyatt. Or, you can very easily just book any reservation you want through the Chase Ultimate Rewards travel center. Plus, the Chase Sapphire Preferred sign-up bonus is among our best credit card bonuses.

Apply for the Chase Sapphire Preferred Card

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Jason Steele

Jason Steele is a journalist who specializes in covering credit cards, award travel and other areas of personal finance. As one of the nation’s leading experts in the credit card industry, Jason’s work has been featured at mainstream outlets such as Yahoo! Finance, MSN Money and Business Insider.

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