Increased offer: Chase Sapphire Preferred with 60,000 point sign-up bonus and $50 grocery credit

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One of the best travel credit cards available has a new and improved offer. The Chase Sapphire Preferred® Card now comes with a $50 statement credit for grocery store purchases, in addition to its 60,000-point bonus after spending $3,000 within the first three months of account opening.

The grocery credit couldn’t be easier to use. It will automatically trigger when you swipe your card at the grocery store. And you’ve got 12 months from account opening to use it! As far as the bonus points are concerned, you could use your points for another $750 in free groceries when redeeming through Chase Pay Yourself Back. That’s $800 in free groceries with this card!

Or, if you transfer to the right partners, on average you could net a $1,020 return, based on our estimation of Chase points value. Regardless of your travel goals, you can easily make great use of this increased offer. Chase Ultimate Rewards points are versatile; you can use them towards travel expenses like airfare, hotels, car rentals, cruises, etc.

I’ll outline the details of this deal, and help you decide if it’s right for you.

You could cash out your 60,000 points for a free stay at an Airbnb in Lauterbrunnen, Switzerland — but there are even better ways to use your points! (Photo by Corinne & Chris/Airbnb)

Improved Chase Sapphire Preferred card offer

The Chase Sapphire Preferred is one of the best credit card for beginners. That’s why it’s exciting to see Chase improve this card’s offer. Bonus aside, this card is a must if you travel even once or twice per year. Read our Chase Sapphire Preferred review to find out why.

This is one of the best publicly available welcome offers for any personal credit card right now. We estimate that the average value you can get for Chase points is 1.7 cents each. That means you should have no trouble receiving $1,020 in travel with this bonus. You could certainly get a value higher than that if you redeem them strategically.

Our favorite way to use Chase points is by transferring them to Chase travel partners like United Airlines, Iberia, Hyatt hotels and more. For example, you could transfer 60,000 Chase points to Hyatt for three nights at the Andaz Costa Rica Resort at Peninsula Papagayo. This property often costs $500+ per night, meaning this 60,000-point bonus would save you $1,500! That’s a value of 2.5 cents each.

Fancy a luxury flight? You can transfer 60,000 Chase points to United for a one-way business class flight to Europe! These seats can cost thousands of dollars, depending on your route and date. For example, a nonstop flight from Chicago to Paris in United Polaris business class costs $2,400+. That means you’re getting a value of 4 cents per point!

United Polaris business class cabin. (Photo by EQRoy/Shutterstock)

Are you eligible for the welcome bonus?

There are a few rules to keep in mind before you feverishly scramble for the “Apply Now” button. Ask yourself the following three questions:

  1. Do I currently have a Chase Sapphire Preferred or Chase Sapphire Reserve?
  2. Have I earned a sign-up bonus from any Chase Sapphire card in the past 48 months?
  3. Have I opened more than five personal cards within the past 24 months?

If you said “yes” to any of these, you are not eligible for this card bonus. Chase may even approve you for the card, but don’t count on earning the 60,000 point intro offer. Read our posts on the Chase 5/24 rule and our guide to Chase Sapphire rules to learn all the ins and outs.

If, however, you answered “no,” this Chase Sapphire Preferred® Card bonus should be your top priority.

TIP: If you haven’t received a sign-up bonus from any Chase Sapphire card in the past 48 months but still hold a Sapphire card, you could downgrade your current Sapphire card to a Chase Freedom Flex or Chase Freedom Unlimited. You could then apply for a new Chase Sapphire Preferred® Card to receive the bonus, you’d be able to pool all your points back into the Sapphire from your Freedom card.

Bottom line

The Chase Sapphire Preferred® Card currently comes with 60,000 Chase points (our favorite kind of points), it’s the hands-down best way to start traveling for free. As soon as you earn the bonus, you’ll have at least $750 in free travel at your disposal. You’ll also get a $50 statement credit towards grocery store purchases, available for the first 12 months of account membership.

The Chase Sapphire Preferred® Card is an MMS reader favorite. Let us know if you have any questions about it! And subscribe to our newsletter for more credit card news like this delivered to your inbox.

Featured image by Wyatt Smith.

Joseph Hostetler is a full-time writer for Million Mile Secrets, covering miles and points tips and tricks, as well as helpful travel-related news and deals.

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! :)

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