The Chase Sapphire Preferred offers new cardholders 80,000 bonus points for spending $4,000 in the first 3 months. And you also get extensive ongoing rewards: 5 points per $1 spent on travel purchased through Chase, 2 points per $1 on all other travel purchases, 3 points per $1 on dining and online grocery purchases, 3 points per $1 on select streaming services, and 1 point per $1 on all other purchases.
Cash: You can also redeem reward points either to get a statement credit or a deposit to a U.S. checking or savings account. Log in to the Ultimate Rewards portal and choose " Cash Back."
Transfer points to Chase's travel partners: You can transfer Chase Sapphire Preferred rewards points to partnered airline and hotel loyalty programs. Just confirm that you have a loyalty account, then select "Transfer to Travel Partners" in the Ultimate Rewards portal.
“Pay with Points”: You can use your Chase Sapphire Preferred rewards points when checking out on Amazon.com or with PayPal. Follow the instructions for both Amazon and PayPal to get started.
Apple purchases: You can use your points to pay for all or part of your Apple purchases.
Gift cards: You can convert Chase Sapphire Preferred rewards into cash or gift cards for your favorite stores. Log in to the Ultimate Rewards portal and choose "Gift Cards."
Experiences: You can trade your points to attend exclusive experiences like sport and dining events, concerts, and more. Simply log in to the Ultimate Rewards portal an choose "Experiences."
The Chase Sapphire Preferred card has a $95 annual fee, but its rewards definitely have the potential to offset it and bring you added value. And your reward points don't expire as long as your account remains open and in good standing. Chase Sapphire Preferred is one of the best rewards cards on the market, well worth getting if you use it regularly and travel often.
To get the Chase Sapphire Preferred credit card sign-up bonus, new cardholders must spend $4,000 within the first 3 months of opening an account. The Chase Sapphire Preferred credit card bonus is 80,000 points.
Keep in mind, however, that you will not be eligible for this introductory 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 you recently earned the bonus.… read full answer
In addition to the sign-up bonus, the Chase Sapphire Preferred credit card offers 1 - 5 points per $1 on purchases. Its annual fee is $95, and you need good credit to get approved.
Redeeming for travel through Chase with one of the three fee-based cards is the only dependable way to get more than a penny apiece for your Chase Sapphire Preferred points. More specifically, you’ll get 1 cent per Chase Sapphire Preferred point with each of the following redemption methods:
Cash back/statement credit
These two options offer the most versatility in terms of what you can spend your points on. But it costs you 25% in lost value. When you “Shop with Points” on Amazon.com, the points are worth just 0.8 cents each.
Finally, you also have the option of transferring your Chase Sapphire Preferred points to one of Chase’s 13 travel partners. Transfers are done on a 1:1 basis, in 1,000-point increments. And how much you get for transferred points depends on how much the particular travel partner’s points or miles are worth. This offers a certain amount of boom-or-bust potential. Your Chase Sapphire Preferred points could wind up being worth a lot more than normal or a lot less.
At the end of the day, if you don’t plan to redeem for travel through Chase, you might do better with a different credit card. It’s not as rewarding when used as a cash-back vehicle, and there are plenty of more versatile rewards cards available.
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