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The Chase Sapphire Preferred® Card is currently running an outstanding welcome offer of 100,000 Chase Ultimate Rewards, which is the largest bonus ever offered on the card.
To give an idea of how valuable this offer is, Chase currently advertises the bonus to be worth $1,250. However, many points maximizers are able to realize greater value by transferring their points to Chase's airline and hotel partners.
But how long is this massive sign-up bonus going to last? At this time, there is no clear answer when it will end. Chase increased the offer to 100,000 points in early June, and credit card welcome offers typically last anywhere from a few weeks to a few months, so it is best to act sooner if you're interested in this deal.
Here's what you need to know.
Chase Sapphire Preferred features and sign-up bonus
The Sapphire Preferred presents new cardholders with the opportunity to earn 100,000 bonus Ultimate Rewards points after spending $4,000 in the first three months. New cardmembers are only able to earn this bonus if they don't currently have a Sapphire card and haven't received a bonus from a Sapphire card in the last 48 months. You'll also want to consider Chase's 5/24 rule when applying for any new Chase credit card.
However, the benefits of the card, along with the redemption opportunities are considered some of the most valuable in the credit card rewards space.
The card comes with the following benefits:
- Earn 5X points on travel purchased through Chase Ultimate Rewards®, 3X points on dining and 2X points on all other travel purchases
- $50 annual Ultimate Rewards Hotel Credit
- Transferability of points to airline and hotel partners
- Trip cancellation/interruption insurance
- Rental car insurance
- Trip delay reimbursement
- Purchase protection
- DoorDash DashPass benefits - Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for one year on qualifying food purchases with DashPass, DoorDash's subscription service
- Peloton benefits - Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021
- Lyft benefits - Earn 5X points on Lyft rides through March 2022
- No foreign transaction fees
The card comes with a $95 annual fee, which is reasonable compared to the benefits the card offers. And the 100,000 bonus points gives cardholders a great start to save money on their future travels.
What you can do with Chase Ultimate Rewards
When you earn Chase Ultimate Rewards points, there are an abundance of options to redeem your points, including:
- Shop with points on Amazon
- Purchase gift cards to 150+ retailers
- Redeem for cash back
- Purchase experiences to exclusive events including concerts
- Use Chase Pay Yourself Back, where you can wipe qualifying purchases off your statement
- Book all types of travel through the Chase Travel portal
When you redeem your points through pay yourself back or through the Chase Travel portal, each of your points are worth 1.25 cents per point, leaving you with a whopping $1,250 towards travel.
However, you'll get the most value from Chase Ultimate Rewards when transferring them to airline and hotel partners. Chase's current travel partners:
- Aer Lingus, AerClub
- British Airways Executive Club
- Emirates Skywards®
- Flying Blue Air France/KLM
- Iberia Plus
- JetBlue TrueBlue
- Singapore Airlines KrisFlyer
- Southwest Airlines Rapid Rewards®
- United MileagePlus®
- Virgin Atlantic Flying Club
- IHG® Rewards Club
- Marriott Bonvoy™
- World of Hyatt®
By transferring your points, you can book airline tickets and hotel rooms directly within the loyalty program. The advantage of doing this is that you are able to possibly utilize elite status perks within the program you choose, or even achieve a higher value than you would booking through the Chase Travel portal.
For example, you can transfer 90,000 Chase points to World of Hyatt for a three night stay at the Park Hyatt in New York City, where rooms easily go for $750 a night. This would give your points a value of giving you over 2.5 each — twice as much as you'd get through the Chase Travel portal.
Bottom line
The 100,000 Chase Ultimate Rewards points you'd receive from the Chase Sapphire Preferred Card is an outstanding bonus to begin your points and miles journey, or to add on to your already accumulating rewards balance. Because of their transferability to travel partners, it makes the currency extremely valuable.
Don't wait on the opportunity to get started earning Ultimate Rewards with this excellent welcome offer.
