Ending soon: Chase Sapphire Preferred Card increases its sign-up bonus to 80,000 points
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If you’re looking for a new travel credit card with a great sign-up bonus to help fund your summer vacation plans, take a look at the Chase Sapphire Preferred® Card, which recently updated its welcome offer to 80,000 points after cardholders spend $4,000 within three months of account opening. This offer will be removed by the end of the day on May 24, 2023, so be sure to take advantage of this offer before it expires.
This sign-up bonus replaces the previous welcome offer, with which new cardholders could earn 60,000 points after spending $4,000 within three months of account opening.
A closer look at the Chase Sapphire Preferred’s new sign-up bonus
Although this isn’t the highest sign-up bonus the card has ever offered — for a limited time in 2021, the card offered a rare 100,000-point welcome bonus after spending $4,000 within three months — it’s one of the best sign-up bonuses this card tends to offer.
To earn the 80,000-point bonus, you’ll need to spend $4,000 within three months, which means you’ll need to spend roughly $1,333 per month. This is a high monthly spending requirement to meet, so this card would likely not be worth it if it’s a lot more than you typically spend on a credit card each month. However, if this type of spending currently aligns with your monthly spending habits, signing up for this card and earning the bonus could help you fund any mid-to-late summer travel plans.
For instance, if you redeem your points for travel through Chase Ultimate Rewards, you’ll get 25 percent more value for your points, making this 80,000-point sign-up bonus worth $1,000. Alternatively, you could get even more value for your sign-up bonus if you transfer your points to a high-value Chase travel partner. According to our points and miles valuations, your Chase Ultimate Rewards points could be worth up to 2 cents each when you redeem them this way, making the card’s sign-up bonus worth up to $1,600.
Is the Chase Sapphire Preferred worth getting for the new sign-up bonus?
The Chase Sapphire Preferred is one of the best travel credit cards currently on the market — especially for people new to travel credit cards. Beyond its high sign-up bonus, it comes with a low annual fee for the travel card space at $95, rewards in several travel and everyday-spending categories and extensive travel and purchase coverage.
For rewards, you’ll earn 5X points on travel through Chase Ultimate Rewards; 5X points on Lyft rides (through March 31, 2025); 3X points on dining (including eligible delivery services), select streaming services and online grocery purchases (excluding Walmart, Target and wholesale clubs); 2X points on other travel; and 1X points on other purchases.
As for the card’s travel and purchase benefits, it comes with the following features:
- No foreign transaction fees
- Trip cancellation and interruption insurance
- Auto rental collision damage waiver
- Baggage delay insurance
- Trip delay reimbursement
- Travel and emergency assistance services
- Purchase protection and extended warranty protection
- Up to $50 in statement credits each account anniversary year for hotel stays purchased through Chase Ultimate Rewards
The bottom line
If you’ve been thinking about signing up for the Chase Sapphire Preferred Card, now is a great time as this 80,000-point welcome bonus (earned after spending $4,000 within three months) will be removed by the end of the day on May 24, 2023. Even if you don’t have any travel plans in mind for this summer, earning this bonus could still be helpful for any upcoming fall or winter travel plans.