New Sapphire Preferred cardholders can earn 80,000 bonus points after spending $4,000 on purchases in the first three months from account opening. That's 20,000 more points than the previous offer.
Traditionally the 60,000-point bonus is worth up to $750 when you redeem points for travel through Chase Ultimate Rewards®, since point redemptions are worth 25% more this way. But now the dollar value rises by $250 to a whopping $1,000.
This offer is the highest ever for the Preferred card and only running for a limited time, though the end date is unknown.
The estimated $1,000 value of this bonus helps solidify the Preferred card as one of the most competitive travel cards right now. The offer even outpaces the Chase Sapphire Reserve®'s 50,000-point bonus, which is worth up to $750 toward travel bookings made with Chase Ultimate Rewards. The Reserve has the same $4,000 spending requirement and three-month time period to earn the bonus points, but a much steeper $550 annual fee compared to the Preferred's $95.
If you want to benefit from a generous welcome bonus that can help pay for future travel plans, you should consider applying for the Chase Sapphire Preferred card during the elevated bonus. You also have the option to redeem points for cash back, gift cards and more, but at a redemption value worth less than $1,000.
This offer is only available to you if you don't have any Sapphire card (Preferred or Reserve) and haven't received a new card member bonus for any Sapphire card in the past 48 months.
5X points on Lyft rides through March 2022, 2X points on travel and dining worldwide, 1X points on all other purchases
80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening — worth up to $1,000 toward travel when you redeem through Chase Ultimate Rewards®
15.99% to 22.99% variable on purchases and balance transfers
Either $5 or 5% of the amount of each transfer, whichever is greater