DEAL OF THE YEAR: Chase Sapphire Preferred now offering 80,000 point sign-up bonus (worth at least $1,000 in travel)
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One of the best travel credit cards available has its best-ever offer. The Chase Sapphire Preferred® Card now comes with an all-time high welcome bonus, offering 80,000 points after spending $4,000 within the first three months of account opening.
You could cash those points out for an easy $800 if you wanted to. Or, you could use them for at least $1,000 in travel when booking through the Chase Travel Portal. Or if you transfer to the right partners, on average you could net a $1,360 return. 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!
Best-ever offer for the Chase Sapphire Preferred
The Chase Sapphire Preferred is the best credit card for beginners. That’s why it’s so thrilling to see such a high sign-up bonus to help you get off to a strong start! But 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 card has offered an 80,000-point bonus once before. But get this — you had to spend a total of $20,000 within the first year to get the full bonus. That should tell you how good of a deal this offer is. In comparison, the current requirement of spending $4,000 on purchases within the first three months is far preferable.
It’s important to note that this is the best publicly available welcome offer for any personal credit card right now. In fact, it’s the most valuable bonus we’ve seen for just about any personal credit credit card in years. The only thing that compares is the 100,000 point bonus that ended in early 2017 from the Chase Sapphire Reserve® (it currently offers 50,000 bonus points after you spend $4,000 in the first three months of account opening).
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 $1,360 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 80,000 Chase points to Hyatt for four nights at the Andaz Costa Rica Resort at Peninsula Papagayo. This property often costs $500+ per night, meaning this 80,000-point bonus would save you $2,000! That’s a value of 2.5 cents each.
Fancy a luxury flight? After meeting the minimum spending requirements, you’d have nearly enough points for a round-trip business class flight to Tokyo on ANA. Virgin Atlantic (a Chase Transfer partner) requires just 90,000 miles for round-trip business class flights when flying between the Western U.S. and Japan. First class costs just a bit more — 110,000 miles round-trip from the Western U.S. to Japan or 120,000 miles from the East Coast.
Are you eligible for the welcome bonus?
There are a couple rules to keep in mind before you feverishly scramble for the “Apply Now” button. Ask yourself the following three questions:
- Do I currently have a Chase Sapphire Preferred or Chase Sapphire Reserve?
- Have I earned a sign-up bonus from any Chase Sapphire card in the past 48 months?
- Have I opened more than five 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 80,000 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 bonus should be your top priority. It’s the steal of the year.
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 card. You could then apply for a new Chase Sapphire Preferred to receive the bonus, you’d be able to pool all your points back into the Sapphire from your Freedom card.
There has never been a higher offer for the Chase Sapphire Preferred. With such an accessible spending requirement to earn 80,000 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 $1,000 in free travel at your disposal.
The Chase Sapphire Preferred is an MMS reader favorite. Let us know if you have any questions about it! And subscribe to our newsletter for more jaw-dropping credit card news like this delivered to your inbox.
Featured image by Wyatt Smith.
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! :)