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Chase Sapphire Preferred® Card: Earn 80K Bonus Points w/ $4,000 Spent on Purchases
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:
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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.
Slickdeals may be compensated by Chase.
Created 03-14-2021
at 09:45 AM
by helper02
If you take advantage of an offer on our site, Slickdeals may receive a commission.
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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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Chase Sapphire Reserve has $550 annual fee - which negates the $1000 earned in points - Chase Sapphire Preferred is a way better deal
It also has a $300 credit that's applied on any travel or grocery spending. So unless you don't spend any money on travel or groceries, the net fee is $250. Still more than the CSP, but definitely reasonable.
Yes you have rightly said - Even with $300 credit Sapphire Reserve ($1000 + $300 - $550 = $750) it is not comparable to Sapphire Preferred ($800 + $50 grocery credit = $850) - $95 annual fee of Sapphire Preferred get offset by cash back with $4K worth of purchase
Here's how I see it: Say you redeem all of the points for groceries. That's a 1.5:1 ratio for the CSR vs. 1.25:1 for the CSP. So with the increased bonus, your CSP points are worth $1,000, less $45 net annual fee = $955. CSR is worth $900, less $200 net annual fee = $700. On its face, the CSP is the better deal with the elevated opening bonus if you take only the opening bonus and annual fee into consideration.
But there are other perks that the CSR has that the CSP does not. CSR gives you $60 in DoorDash credit and DashPass. If you were already using Doordash, that's extra savings. You also get free LyftPink, which is normally $19.99 a month, and Priority Pass, which could be worth hundreds. Finally, it also earns points at a higher rate than the CSP.
If all you need is points because you're going to transfer them to an airline/hotel system, then yeah the CSP with its bonus now is the better pick. But otherwise, it's not a clear comparison. You can't just blindly say that one is better than another because it's not.
Or you can just do a MDD and get both.
Here's how I see it: Say you redeem all of the points for groceries. That's a 1.5:1 ratio for the CSR vs. 1.25:1 for the CSP. So with the increased bonus, your CSP points are worth $1,000, less $45 net annual fee = $955. CSR is worth $900, less $200 net annual fee = $700. On its face, the CSP is the better deal with the elevated opening bonus if you take only the opening bonus and annual fee into consideration.
But there are other perks that the CSR has that the CSP does not. CSR gives you $60 in DoorDash credit and DashPass. If you were already using Doordash, that's extra savings. It also earns points at a higher rate than the CSP. It's a nuanced comparison for every situation. You can't just blindly say that one is better than another because it's not.
Or you can just do a MDD and get both.
Thank you for the detailed comparison
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In-branch, the screen will specifically state [No annual fee first year. $95 thereafter.]
To those concerned, just do the in-branch application and you can verify the first year fee waiver on-screen yourself.
As an aside, the rep who did my application didn't mention the first year fee waive and was completely wrong when describing several other features. Trust what you see on the screen, not what comes out of reps' mouths.
In-branch, the screen will specifically state [No annual fee first year. $95 thereafter.]
To those concerned, just do the in-branch application and you can verify the first year fee waiver on-screen yourself.
As an aside, the rep who did my application didn't mention the first year fee waive and was completely wrong when describing several other features. Trust what you see on the screen, not what comes out of reps' mouths.
How to do intend to achieve the $4K spending threshold for the bonus?
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Because if redeeming in the portal or via PYB, the points are worth 1.25 cents with a CSP, but 1.5 cents with a CSR. Makes perfect sense.