Like many card issuers responding to changes in consumer behavior, Chase continues to adapt card offerings, rewards structures, redemption options and more to suit cardholders’ new spending habits. This time around, Chase is announcing a change to one of its most-loved travel rewards credit cards the Chase Sapphire Preferred® Card.
As of June 4, 2021, Chase announced that new cardmembers can earn 100,000 bonus points (up from 80,000) after spending $4,000 on purchases within the first three months of opening an account. This means that the 100,000 bonus points could be worth up to $1,250, based on how they are redeemed.
Here’s what this welcome offer means for you and how you could get the most out of it as a new Chase Sapphire Preferred customer.
- Earn 100,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening
- Enjoy new benefits such as a $50 annual Ultimate Rewards Hotel Credit, 5X points on travel purchased through Chase Ultimate Rewards®, 3X points on dining and 2X points on all other travel purchases. Also earn 5X points on Lyft rides through March 2022, plus 1X points on other purchases.
- $95 annual fee
- No foreign transaction fee
- 25 percent points value boost when you redeem in Ultimate Rewards travel portal
How much is the Chase Sapphire Preferred card sign-up bonus?
New cardmembers that spend $4,000 on purchases within the first 3 months of opening the account can earn 100,000 bonus points—up 20,000 from the latest sign-up bonus offered for this card.
Chase points have several flexible redemption options, but you can really stretch that bonus by redeeming them a tad more strategically.
Your 100,000 bonus points could be worth up to $1,250, or 25 percent more, when you redeem them for eligible purchases with the Pay Yourself Back tool or for travel through Chase Ultimate Rewards®. Pay Yourself Back allows you to redeem points for statement credit in select categories at a higher rate.
Current options include grocery store purchases and dining at restaurants (including takeout and eligible delivery services), home improvement store purchases and donations to select charitable organizations. This is in addition to the boost you can always enjoy for redeeming for travel booked through Ultimate Rewards.
What other benefits come with the Chase Sapphire Preferred card?
The Chase Sapphire Preferred card has many features that traveler and travelers-in-waiting would appreciate. If you aren’t yet planning to spend money on travel, you’ve got plenty of ways to earn and redeem with your Sapphire Preferred card.
In addition to 5X points on travel purchased through Chase Ultimate Rewards®, 3X points on dining and 2X points on all other travel purchases. Also earn 5X points on Lyft rides through March 2022, plus 1X points on other purchases, you’re also eligible for:
There are unlimited deliveries with a $0 delivery fee and reduced service fees on DoorDash and Caviar orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash’s subscription service. Activate by Dec. 31, 2021.
Earning 5X points on Lyft rides (including bikes and scooters) through March 2022.
How can I make the most out of my Chase Sapphire Preferred Card bonus?
When you become a new cardmember and receive the sign-up bonus, the best thing would be to redeem your points where you’ll most value: for eligible purchases using the Pay Yourself Back Tool or for travel in the Chase Ultimate Rewards Portal. Booking through Chase travel partners can also garner more value for your points.
Is the Chase Sapphire new sign-up bonus worth it?
If you are hesitant about getting a card with an annual fee, the increased bonus might soothe your concerns a bit. The increased sign-up bonus of 100,000 points covers the annual fee many times over while providing ongoing rewards for eligible spending categories and travel.
If your spending revolves around these types of purchases, then the Chase Sapphire Preferred would be a good card to add to your mix of rewards credit cards.