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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Grocery stores
Home improvement stores
Dining establishments, including take-out and delivery services
$300 travel credit can be used on gas and groceries until EOY so you should be able to take advantage of that full credit.
If you plan to do any travel then the 1.5 thru the travel portal would probably push me over the edge to go with CSR. Amex is a good offer but is only once per lifetime where the CSR can be churned every 4 years. So I would go with CSR first and then you could double dip on the Amex, but based on Chase 5/24 rule and not knowing where you are I would go with CSR first. When annual fee comes up next year I would cancel though and move points to freedom or other UR card until you or the wife gets the CSP or CSR again.
JMO
Wait, PYB was extended to September? April was last I heard
I just phoned them and they told me the date. Also you'll get automatically rejected before the credit pull if it's been less than 4 years which is actually quite useful.
Pay yourself back is a program chase started during covid in which you can redeem your points on any dining and grocery charges for 1.5x with the chase sapphire reserve. I think the preferred has it at 1.25. So if i have 10,000 points to redeem i can apply $150 towards as a statement credit for any grocery or food/dining charges in my history for the last few months. Great program
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The Sapphire Reserve is the one that has a 50% bonus. But that bonus is only worth $600 x 1.5 = $900. And again, that's only if redeemed for travel or using Pay Yourself Back, which is scheduled to stop at the end of April.
Didn't know "pay yourself back" was ending soon. EDIT: Derp. I thought pyb was the same thing as cashing out points. I kept reading the thread and see that it's a special benefit for csr. my question below still stands though.
I'm sitting on 300k points with the expectation of opening a sapphire reserve when my 48 months expire (it may have expired already bc I got in on the last month of the 100k points - was that Jan 2017?) and getting the 1.5x on travel.
It sounds like I may be better off taking the cash at 1x and not risking a points devaluation.