Chase introduces new bonus offer for Sapphire Preferred Cardholders

Research

Kristy Tolley Editor | The Points Guy

By Sky Industry News

Oct 4, 2024

The Chase Sapphire Preferred® Card has introduced a new offer, providing cardholders with 60,000 bonus points and a $300 travel credit. This offer is available for those who spend $4,000 on purchases within the first three months of opening an account. The value of this offer is estimated at $1,530.

The travel credit will be applied to purchases made through the Chase Travel portal during the first year and will appear on billing statements within eight weeks after purchases are posted. This current offer nearly matches a previous one from earlier in the year when 75,000 points were offered.

"The last time we saw an elevated bonus on this card was in May and June," according to THE POINTS GUY. Despite being worth slightly less than the previous offer by $8, many find this one more appealing due to the ease of using the travel credit compared to additional points.

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Chase offers elevated bonuses on this card infrequently, making this year's second offering unusual. "If you've considered getting this card, now is a great time to apply for the Chase Sapphire Preferred."

The card provides various earning categories: five points per dollar spent on travel booked through Chase Travel℠ and Lyft (through March 2025), three points per dollar spent on dining, select streaming services, and online groceries (excluding Target, Walmart, and wholesale clubs), two points per dollar spent on other travel purchases, and one point per dollar spent elsewhere.

Additionally, cardmembers receive a 10% annual point bonus based on their total spending during the account anniversary year. Chase Ultimate Rewards can also transfer to 14 airline or hotel partners.

Chris Dong from THE POINTS GUY notes that these rewards can be maximized by booking business-class tickets or stays at resorts for less than their cash equivalent.

In summary, the Chase Sapphire Preferred remains a strong option among travel rewards cards due to its perks and earning rates. It includes travel protections and up to $50 in annual hotel statement credits for hotel purchases made through Chase Travel after each member's anniversary.

"Learn more in our full review of the Chase Sapphire Preferred card," suggests THE POINTS GUY for those considering whether it deserves a place in their wallet alongside or instead of other options like the Chase Sapphire Reserve®.