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Chase Sapphire Preferred® Card: Earn 80K Bonus Points w/ $4,000 Spent on Purchases

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Chase is offering 80,000 Bonus Points ($1,000 towards travel) w/ $4,000 Spent in the First 3 Months of Account Opening for their Chase Sapphire Preferred® Card with $95 Annual Fee.

Card Details:
  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
  • Enjoy benefits such as a $50 annual Ultimate Rewards Hotel Credit, 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining and 2x on all other travel purchases, plus more.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
  • With Pay Yourself BackSM, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
  • Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.


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Created 03-14-2021 at 09:45 AM by helper02
in Credit Cards (4) See More Chase Offers
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These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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giantbruin
03-15-2021 at 07:36 AM.
03-15-2021 at 07:36 AM.
Quote from digimon :
Desperate times call for desperate measures. Chase took a card that rivaled the Amex Platinum and destroyed it in a matter of 12 months. With cards such as the Flex Freedom and the Flex Unlimted, there is no need for the Sapphire Reserve unless you use their travel portal for the additional 50% points. I went back to Amex after 2 years with the CSR card. I actually have both the Amex Platinum (for the 5 points for travel and hotels) and the Amex Gold (for the 4 points on Dining and Supermarkets) at a cost of $800 per year. This seems like a lot, but Amex has so many more bonus point opportunities than Chase. And if you use R@kuten, you can link those points to membership rewards. I have accumulated 220K points in a matter of 5 months. A big portion of the points came from bonus categories that Chase doesn't really offer. In full disclosure, I also received 100k in sign up points. So really I have accumulated 120K in points in 5 months which is still pretty good.

Chase is still allowing 50% off bonuses on redemptions to pay for restaurants for Reserve cardholders. That, combined with the net $150 annual fee, makes it worth it IMO.
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Joined Mar 2013
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giantbruin
03-15-2021 at 07:37 AM.

Our community has rated this post as helpful. If you agree, why not thank giantbruin

03-15-2021 at 07:37 AM.
Quote from mrand :
If you end up receiving a 1099 tax form, you'd presumably need to deduct taxes that from the total:

https://www.doctorofcredit.com/wh...t-bonuses/

Credit card bonuses from minimum spend requirements aren't taxable. Referral bonuses, however, are. Source: I'm a CPA.
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diavolo33
03-15-2021 at 07:49 AM.
03-15-2021 at 07:49 AM.
TIL linking to a blog post about a rumored CC offer belongs in hot deals.
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HIDDENEffinAhole03-15-2021 at 07:51 AM.
Joined Feb 2007
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sgb
03-15-2021 at 07:52 AM.
03-15-2021 at 07:52 AM.
Quote from EffinAhole :
Wut? Youre saying the sign up bonuses from cc offers like this arnt taxable? How so? They send 1099s out.... Which means they are taxable.
I've never received a 1099 for a credit card bonus
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HIDDENEffinAhole03-15-2021 at 07:55 AM.
Joined Jun 2011
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DealsDealsDeals05
03-15-2021 at 08:02 AM.
03-15-2021 at 08:02 AM.
Quote from EffinAhole :
Well, ive done like 20-30 and ive received one each time... They always send 1099s out for sign up bonus offers. Its considered interest.
There's no way you've received a 1099 for each CC sign up bonus you've done.

There have been occasional DP's of 1099's being mistakenly sent out, but those have been rare.

Gosh, there's a lot of wrong info in this thread. I recommend anyone here to ignore most of these posts and get your info from Doctor of Credit.
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HIDDENEffinAhole03-15-2021 at 08:06 AM.
Joined Mar 2013
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giantbruin
03-15-2021 at 08:15 AM.
03-15-2021 at 08:15 AM.
Quote from EffinAhole :
Wut? Youre saying the sign up bonuses from cc offers like this arnt taxable? How so? They send 1099s out.... Which means they are taxable.
Credit Card MSRs are considered rebates and generally not taxable by the IRS. I have no idea what you're doing wrong or what 1099s you're getting, but they are not generally taxable income. Bank opening bonuses, however, are taxable.

https://creditcards.usnews.com/ar...ds-taxable

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HIDDENEffinAhole03-15-2021 at 08:18 AM.
Joined Feb 2007
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sgb
03-15-2021 at 08:22 AM.
03-15-2021 at 08:22 AM.
Quote from EffinAhole :
I think 2-3 of my 1099's are bank opening bonuses actually so I guess youre right about that. I do a lot of stuff so I cant remember what each is.
This makes sense. The bonus for opening a bank account is interest and is therefore taxable.
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dcguy703
03-15-2021 at 08:37 AM.
03-15-2021 at 08:37 AM.
Quote from giantbruin :
Chase is still allowing 50% off bonuses on redemptions to pay for restaurants for Reserve cardholders. That, combined with the net $150 annual fee, makes it worth it IMO.
Agree 100%
CSR is still very worth it in my opinion
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reader
03-15-2021 at 08:53 AM.
03-15-2021 at 08:53 AM.
Thank you for your reply. I did not cancel before Nov 2020. I did not use the points to "Pay yourself back" before downgrading. I did not know. What are my best options now.

Thanks

Quote from Thinker :
You can reapply if cancelled before Nov. 2020. Hope you used those points to "Pay yourself back" before downgrading.
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Thinker
03-15-2021 at 09:40 AM.
03-15-2021 at 09:40 AM.
Quote from reader :
Thank you for your reply. I did not cancel before Nov 2020. I did not use the points to "Pay yourself back" before downgrading. I did not know. What are my best options now.

Thanks
Not sure you can reapply for the same card but you can apply for CSP on 21st to see if that works..
If you are within30 days, you can also call them to move back to CSR if they allow after downgrading. You may endup paying AF again. Others can chime in if there is another way.
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dcguy703
03-15-2021 at 10:35 AM.
03-15-2021 at 10:35 AM.
Bank checking/saving bonus... YES 1099
Credit Card bonus... NO 1099
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