What are the best Chase Sapphire Preferred promotions?

You can get the Chase Sapphire Preferred sign-up bonus of 60,000 points by spending $4,000 within the first 3 months of opening an account. You can redeem the Chase Sapphire Preferred credit card bonus for $750 in travel booked through Chase Ultimate Rewards or a $600 statement credit. That’s one of the biggest sign-up bonuses on the market.... read full answer

Who is Eligible for the Chase Sapphire Preferred Sign-Up Bonus?

Keep in mind that you will not be eligible for the sign-up bonus if you currently have the Chase Sapphire Preferred credit card, regardless of whether you previously received the bonus. You also may not be eligible if it’s been less than 48 months since you last earned an initial bonus with either the Chase Sapphire Preferred card or the Chase Sapphire Reserve® card.

Best Ways to Use the Chase Sapphire Preferred Sign-Up Bonus

1. Through Chase Ultimate Rewards:
   You get 25% more value when you redeem your bonus points for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards.
2. 1:1 Point Transfer:
   Another way to maximize the value of your bonus points is with Chase Sapphire Preferred’s transfer partners. You can transfer points at a 1:1 ratio, and then redeem them through that partner’s loyalty program.

In addition to the sign-up bonus, the Chase Sapphire Preferred credit card offers 1 - 5 points per $1 spent on purchases, as well as several other benefits and perks.

Chase Sapphire Preferred Rewards

Chase Sapphire Preferred Refer-a-Friend Bonus

You can also get a referral bonus for each friend who you invite to apply for the card and gets approved. The referral bonus is 15,000 points for every referral who is approved, and the limit is 75,000 points per calendar year.

Ultimately, it’s also worth noting that the card’s annual fee is $95, and you need at least good credit to get approved.

Yes, you can get a Chase Sapphire bonus twice, but only after a long waiting period. If you get the bonus of 60,000 points from the Chase Sapphire Reserve® card, you cannot get another initial bonus from any Sapphire card for the next 48 months. The same applies if you get the bonus of 60,000 points from the Chase Sapphire Preferred® Card. This policy is to prevent people from abusing the system and “churning” to get bonuses over and over again.... read full answer

If you’re debating which Chase Sapphire bonus to go after first, remember that points are worth 1.5 cents each toward travel with Chase Sapphire Reserve but 1.25 cents each with Chase Sapphire Preferred. But at the same time, Chase Sapphire Reserve’s annual fee is $550 while Chase Sapphire Preferred’s fee is $95. So, if you’re a big spender who wants to get the best value for travel, go with Chase Sapphire Reserve. If you’re more concerned with minimizing your yearly costs, go with Chase Sapphire Preferred.

Chase Sapphire Preferred is worth its $95 annual fee for people with good credit who like to travel and typically spend at least $1,334 per month. Spending enough to qualify for the card’s initial rewards bonus will make the Sapphire Preferred Card worth owning for years.

You get 60,000 points when you spend $4,000 during the first 3 months after you open your account. That’s a value of $750 when you redeem for travel through Chase Ultimate Rewards. (Points are worth 1 cent each, plus Chase Ultimate Rewards gives you an extra 25% redemption value.) The bonus alone will pay for 7+ years’ of membership dues.... read full answer

The third type of bonus you can get is from referrals. You earn 15,000 points for every person who signs up for Chase Sapphire Preferred using your referral link, with a limit of 75,000 points per year. That means you can earn an extra $188-$938 in travel every year, more than enough to offset the annual fee. You can’t forget about the everyday rewards you’ll earn on purchases, either.

Plus, Chase Sapphire Preferred has more benefits than just reward points. There are no blackout dates or other travel restrictions. And you’ll get a number of other free perks like travel insurance, roadside assistance, and purchase protection. All of these things enhance the value of this card even more.

Therefore, while Chase Sapphire Preferred’s annual fee certainly is above average, the rest of the offer is, too. So as long as you have excellent credit and spend enough to qualify for the initial bonus, Chase Sapphire Preferred is well worth the price.