New Chase Sapphire Preferred® Card members can earn 60,000 bonus points after spending $4,000 on purchases in the first three months from account opening.
Plus, you'll receive up to $300 in statement credits on Chase Travel purchases within your first year. This offer is available for a limited time and is worth up to $1,050 in TravelSMvalue.
The Sapphire Preferred is a great beginner travel credit card with most of the benefits anyone who loves maximizing rewards would want in a card. There's typically an increased bonus offer on this card once a year, so if you've had it on your wishlist, now is a good time to apply.
Below, CNBC Select shares how to qualify for this bonus and how to make the most out of it.
Chase Sapphire Preferred® Card
On Chase's secure site
Rewards
Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, and $50 annual Chase Travel Hotel Credit, plus more.
Welcome bonus
Get up to $1,050 in Chase TravelSMvalue. Earn 60,000 bonus points after $4,000 in purchases in your first 3 months from account opening. That's worth $750 when redeemed through Chase Travel. Plus, get up to $300 in statement credits on Chase Travel purchases within your first year.
Annual fee
$95
Intro APR
None
Regular APR
21.49% - 28.49% variable on purchases and balance transfers
Balance transfer fee
Either $5 or 5% of the amount of each transfer, whichever is greater
Foreign transaction fee
None
Credit needed
Excellent/Good
Terms apply.
Read our Chase Sapphire Preferred® Card review.
New Chase Sapphire Preferred intro bonus
The new Chase Sapphire Preferred® Card intro bonus is worth $300 more than the previous offer:
- New offer: Earn 60,000 bonus points after spending $4,000 on purchases in the first three months from account opening, plus up to $300 in travel credit for eligible Chase TravelSM bookings.
- Old offer: Earn 60,000 bonus points after spending $4,000 on purchases in the first three months from account opening.
On top of the welcome bonus, you'll get a $50 Chase Travel Hotel credit each card anniversary year. This credit is easy to use and is valid for eligible hotel reservations through Chase TravelSM.
You'll also have access to a long list of valuable insurance benefits, including:
- Purchase protection
- Extended warranty protection
- Rental car collision coverage
- Trip cancellation/interruption insurance
- Baggage delay insurance
- Trip delay reimbursement
- Travel and emergency assistance
Don't miss: What are Chase Ultimate Rewards® points worth?
How to make the most of the Chase Sapphire Preferred's intro bonus
There is no shortage of options for redeeming Chase points — and the value you receive from the Chase Sapphire Preferred® Card's intro bonus hinges on how you use the 60,000-point bonus.
If you keep things simple, you can redeem 60,000 points for one cent per point for several redemptions, including $600 in cash back or $600 in gift cards. You can bump that value up by booking travel through Chase Travel,SM because the Sapphire Preferred gives you a 25% bonus on these redemptions.
That makes 60,000 points worth $750 in travel for a potential total bonus value of $1,050.
The Sapphire Preferred also unlocks full access to all 14 Chase travel partner programs and you can transfer points at a 1:1 ratio to all of them. Taking advantage of this option is usually the optimal path to maximizing your Chase points. Partner programs include World of Hyatt, Air Canada Aeroplan, United MileagePlus and Southwest Rapid Rewards.
When you take advantage of the best deals these partners offer, the value you get per point can dramatically increase. For example, one-way business class awards from the U.S. to Europe (under 4,000 miles) start at 60,000 points with the Aeroplan program. You can book awards on Air Canada and most of its partner airlines at that price. These flights can easily cost more than $3,000, which means you're getting a value of around five cents point (not accounting for taxes and fees).
Who's eligible for the Chase Sapphire Preferred's welcome bonus?
You'll typically need a good to excellent credit score to qualify for the Sapphire Preferred. To be eligible for this new welcome bonus, there are two additional requirements:
- You cannot currently have any Sapphire card (including the Sapphire Preferred or Chase Sapphire Reserve®)
- You cannot have received a new card member bonus for any Sapphire card in the past 48 months
You'll also have to contend with Chase's 5/24 rule: If you've opened five or more credit cards from any bank in the last 24 months it will be harder to get approved for a new Chase credit card.
Some business credit cards may not add to your Chase 5/24 count, however, because they don't appear on your personal credit report.
Alternative cards to consider
If you can't qualify for the Chase Sapphire Preferred or you're not interested in its new offer, the Capital One Venture Rewards Credit Card is a great alternative.
It has the same annual fee and spending requirement ($4,000 on the card in the first three months) to earn 75,000 bonus miles. Those miles are worth $750 in travel purchases, which is less valuable than the Sapphire Preferred's bonus. However, you can transfer Capital One miles to 18 partner airline and hotel loyalty programs, which can boost its value.
So the Capital One Venture Card offers a bigger stash of transferrable rewards compared to the Sapphire Preferred.
Capital One Venture Rewards Credit Card
Learn More
Rewards
5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel, 2X miles per dollar on every other purchase
Welcome bonus
Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel
Annual fee
$95
Intro APR
N/A for purchases and balance transfers
Regular APR
19.99% - 29.99% variable
Balance transfer fee
$0at the Transfer APR, 4% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer to you
Foreign transaction fee
None
Credit needed
Excellent/Good
Terms apply.
The Wells Fargo Autograph℠ Card has no annual fee and earns transferrable points. If you're not sure whether the Chase Sapphire Preferred's annual fee is worth it, this is a good alternate travel credit card.
The Autograph Card is a good option for purchases such as restaurants, travel, gas stations and popular streaming services. It also has a handful of additional insurance perks, including cell phone protection, travel accident insurance and trip cancellation/interruption coverage.
Wells Fargo Autograph℠ Card
On Well's Fargo's secure site
Rewards
Earn unlimited 3X points on restaurants, travel, gas stations, transit, popular streaming services and phone plans. Plus earn 1X points on other purchases
Welcome bonus
Earn 20,000 bonus points when you spend $1,000 in purchases in the first 3 months - that's a $200 cash redemption value.
Annual fee
$0 annual fee
Intro APR
0% intro APR for 12 months from account opening on purchases
Regular APR
19.74%, 24.74%, or 29.74% variable APR
Balance transfer fee
Up to 5%, min: $5
Foreign transaction fee
None
Credit needed
Excellent/Good
See rates and fees, terms apply.
Find the best credit card for you by reviewing offers in ourcredit card marketplaceor get personalized offers viaCardMatch™.
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Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
