If you’re looking for a travel rewards credit card, the Chase Sapphire Preferred is definitely one to consider. It currently has a limited time offer of 80,000 points after spending $4,000 on purchases in the first 3 months from account opening.
The 80,000 Ultimate Rewards points can be redeemed for a minimum of 1.25 points when you redeem them through the Chase Travel portal. You can even get more value out of the points if you transfer them to one of their travel partners.
In this blog post, I’ll share who is eligible for the card, and why it’s worth getting.
You can also read my blog post “Benefits of the Chase Sapphire Preferred” which gives more details of the card.
Who is Eligible for the Card?
You can get the card if:
- You have not received a Sapphire Preferred or Reserve sign up bonus in the last 4 years.
- You don’t currently have a Sapphire Preferred or Reserve.
- You’re currently under the Chase 5/24 rule. That means you haven’t opened up 5 or more credit cards from any company in the last 24 months. You can read my post “Introduction to the Chase 5/24 Rule” if you want to learn more about the rule.
If you have either of the Sapphire cards, you can close the card and apply for a new one. The better option is to downgrade the card to a Freedom Flex or Freedom Unlimited card. That way your credit score won’t be affected. Plus, both of those cards are no annual fee cards.
If you are an authorized user with the card, you are still eligible to apply for the card and get the bonus.
Why the Chase Sapphire Preferred is Worth Getting
In the world of travel credit cards, the Chase Sapphire Preferred is considered one of the best if not the best midtier card on the market. I personally believe it is the best. The card comes with a reasonable $95 annual fee.
Here are just a few of the many perks that the card offers.
- Earn 5x the points on travel book through the Chase Travel portal, 3x the points for dining, 2x the points on all other travel, 2x the points on selected streaming services and online grocery stores and 1x on all other purchases
- The card has great coverages such as lost luggage protection, primary rental car insurance, and trip cancellation/interruption insurance
- You get an annual $50 hotel credit when you book a stay through the Chase Travel portal
- Through the Chase Travel portal you earn a 25% bonus on each point. So, each point is worth 1.25 points
- The card allows you to transfer your points to their 10 airline and 3 hotel partners. You can get even more value from your points when you do this
Final Thoughts
The 80,000 point sign up bonus that the Chase Sapphire Preferred is offering isn’t a record but it is considerably higher than the normal 60,000 point sign up bonus.
Those points can be worth a minimum of $1,000 but considerably more if you transfer the points to a transfer partner.
So, now is a great time to sign up for the card and start enjoying all of the benefits that the card has to offer when you are traveling.
