DEAL OF THE YEAR: Chase Sapphire Preferred now offering 100,000 points (easy spending requirement)
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Know how we’re always screaming at the top of our lungs that the Chase Sapphire Preferred® Card is one of the best travel credit cards in the free world? It just got way, WAY better. Whether you’re brand new to the free travel game or an accomplished vet, you want to apply now. I’m not saying that to peddle a credit card — I’m saying it because it’s for your good.
You’ll earn an unprecedented 100,000 bonus points after meeting relatively easy minimum spending requirements. At the very, very least, you can redeem that bonus for $1,000 in cash. And if you know the best ways to use Chase points, you could potentially get between $5,000 and $18,000 in travel, be it first class flights or fancy hotels (I’ll give you examples in this post).
Three things to note. You’re not eligible for this bonus if:
- You’ve opened five or more personal cards in the past 24 months (here’s how to check)
- You still have a Chase Sapphire card of some sort (either Reserve or Preferred, you’ll have to downgrade/cancel to be eligible — and best practice is to reapply after your next statement close)
- You’ve earned a bonus from a Sapphire card in the past 48 months
Here’s what you need to know.
The best travel credit card for beginners now offering 100,000 points
When I first started my miles and points journey seven years ago, I opened the Chase Sapphire Preferred offering a bonus of 40,000 points after meeting minimum spending requirements. Needless to say, I opened it less because of the bonus and more because of its fantastic benefits, including primary rental car insurance, trip delay insurance, and baggage delay insurance (read all about Chase Sapphire Preferred benefits and perks here).
This year, we’ve seen the bonus reach an all-time high of 80,000 points. But as of today, the card has again shattered its own record.
The Chase Sapphire Preferred comes with 100,000 bonus points after spending $4,000 on purchases in the first three months from account opening. This is an insane bonus for a card with a $95 annual fee.
The only other card that carries a bonus this high is the Ink Business Preferred® Credit Card — but you’ve got to spend $15,000 in three months to achieve it. The spending requirement for the Chase Sapphire Preferred is $11,000 lower!
Here’s what that 100,000-point bonus is worth.
$1,000 in cash
Take comfort in the fact that this is the worst possible use of your points — and it’s still not that bad.
You can cash out your Chase points at a rate of 1 cent each. Chase will cut you a check for $1,000, no questions asked. It’s very simple, and the prospect should make anyone willing to at least open this card and give it a try. Who would say no to $1,000 in cash?? That’s like four months of free gas. Or two months of free groceries.
$1,000 is more than a week’s wages for a lot of people — this card basically offers you an extra week of PTO.
$1,250 in travel/food
$1,250 in travel: When you book flights, hotels, rental cars, or cruises through the Chase Travel Portal, you can redeem each Chase point for 1.25 cents each. In other words, if you booked a hotel stay for $430, you could use 34,400 points to get the stay for free. You can also redeem your points at 1.25 cents each to offset spending at grocery stores, restaurants, and home improvement stores through Sept. 30, 2021.
If you aren’t too familiar with the miles and points hobby, this is a foolproof way for even the greenest member to get big value from the card.
Thousands by transferring to travel partners
Here’s where the real magic happens. When transferring to travel partners, we estimate that Chase points value is worth an average of 1.7 cents each — making this 100,000-point bonus worth $1,700. But you can get way more value per point if you know how to use Chase points. Let’s look at some stunners.
Stay at some of the nicest hotels in the world: You can transfer Chase points to Hyatt at a 1:1 ratio. With 100,000 points, you could stay at:
- The ultra luxe Park Hyatt Paris Vendome for 30,000 points per night (it routinely sells for $1,000+ per night)
- The all-inclusive Hyatt Ziva Puerto Vallarta for 20,000 points per night (five days of free food!!)
- The Park Hyatt Maldives for 30,000 points per night (again, often selling for $1,000+)
- The Andaz Maui for 30,000 points per night (my wife and I just stayed there and it was beyond words)
Book two round-trip flights to Europe (including Morocco and Israel!): Chase has some of the best airline transfer partners in the game. One of them is Flying Blue (the loyalty program shared by KLM and Air France). This is an outstanding program chock full of sweet spots.
My favorite sweet spots are to Israel and Northern Africa for 25,000 miles each way. With 100,000 miles, you and a travel buddy could fly to Israel, Morocco, or anywhere in Europe round-trip in coach. With other airline programs, like American and United, you’d pay 160,000+ points for these tickets!
$5,000+ with business/first class flights to Japan: Another amazing airline transfer partner is Virgin Atlantic, which charges the following for lie-flat seats between the West Coast and Japan on ANA:
- 90,000 miles in business class, round-trip (retails for $5,600+)
- 110,000 miles in first class, round-trip (retails for $17,500+)
You’ll have more than enough to book a business class flight to Japan — and you’ll be just short of what you need to book a first class flight (you’ll have at least 104,000 points after meeting minimum spending, remember). Imagine opening a card and booking a $17,000+ airplane seat with the bonus!
There are seemingly infinite other amazing uses for Chase points. Read our post on the best ways to use Chase points for more fun, daydreamy ideas.
The Chase Sapphire Preferred is the best credit card for beginners. But its versatility makes it an ideal card for anybody. And it’s now got an all-time high 100,000 bonus points after spending $4,000 on purchases within the first three months of account opening.
This is a massive deal. If ever there was a time to open the card, it’s now. You can read our Chase Sapphire Preferred review to see how all its great card benefits sweeten the deal.
Let me know if you plan to apply! And subscribe to our newsletter for more need-to-know miles and points info delivered to your inbox once per day.
Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)