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The Chase Sapphire Preferred® Card is one of the most popular travel rewards credit cards out there—and for good reason. It has a low annual fee ($95) but offers excellent opportunities to both earn and redeem points. The card has one of the credit card industry’s top earnings structures, offering the likes of three points per dollar spent on dining and five points per dollar spent on travel booked through Chase Ultimate Rewards. These are earnings multipliers more typical of cards with high annual fees. Next, options for redeeming points are seemingly endless. Points are easily transferable to a variety of airline and hotel partners or can be redeemed at 1.25 cents apiece through Chase’s own travel portal or select “Pay Yourself Back” categories.
Many travelers jumped on the Chase Sapphire Preferred bandwagon in 2021, enticed by massive introductory offers. Then, in a plot twist we didn’t see coming, Chase revived one of those mega offers last month and raised its introductory bonus to 80,000 points—that’s $1,000 on travel when redeemed through Chase Ultimate Rewards. But since all good things must come to an end, this deal will vanish at the end of the day on June 1, 2022.
Find out more details about this offer and why you should take advantage of it before it’s gone.
Chase Sapphire Preferred sign-up offer details
Here are the details on the Chase Sapphire Preferred’s limited-time offer, how to earn that 80,000-point bonus, plus other key perks.
Welcome offer: Earn 80,000 bonus points after spending $4,000 on new purchases within the first three months. You can cash those bonus points out for 1.25 cents apiece—a value equal to $1,000—on travel through the Ultimate Rewards portal.
Annual fee: $95
Earn points: You’ll rack up points quickly with these impressive earnings rates:
- Five points per dollar spent on travel through Chase Ultimate Rewards
- Three points per dollar on dining, including takeout and international restaurants
- Three points per dollar on select streaming services—including Disney+, Hulu, ESPN+, Netflix, Sling, Vudu, FuboTV, Apple Music, SiriusXM, Pandora, Spotify, and YouTube TV
- Three points per dollar on online grocery purchases (except for Target, Walmart, and wholesale clubs)
- Two points per dollar on travel not booked through Chase—including airfare, hotels, trains, rideshares, and more
- One point per dollar on other purchases
Credits: Earn $50 back each year in statement credits for hotel stays purchased through Chase Ultimate Rewards. Also, cardholders earn bonus points equivalent to 10 percent of the total purchases they made the previous year. For example, if you spend $25,000 during the year, you will earn 2,500 bonus points. Not a lot, but every bit counts!
Key perks: Chase points are exceptionally versatile and can be transferred to 11 airlines and three hotel partners, including Hyatt, Southwest, United, and Air Canada Aeroplan. This means cardholders can rack up points on everyday spending then convert them into points or miles with the partner program they choose when they need them for a specific redemption. Chase points can also be redeemed at 1.25 cents apiece for bookings through the Chase travel portal or with select categories, which change quarterly, under the “Pay Yourself Back” feature.
Why apply for the Chase Sapphire Preferred right now
We didn’t expect to see such a generous offer again on this card, and we’re not sure if it will return—ever—after June 1, 2022. These 80,000 Ultimate Rewards points can easily score you a one-way international business-class seat through transfer partners like Aeroplan and British Airways or multiple nights in posh properties in Santorini or Paris through transfer partner World of Hyatt. It can also be redeemed for $1,000 toward relief efforts in Ukraine and more.
Regardless of a glossy sign-up bonus, this card is arguably the best low-fee travel credit card and one you’ll want to keep around. Earning points is remarkably easy thanks to bonuses when spending in categories like travel, dining, and streaming services. The sky’s the limit when it comes to redeeming points, and Chase’s Ultimate Rewards portal makes it easy to do so. We also love the card’s comprehensive travel protections, including trip interruption and cancellation coverage, trip delay coverage, primary rental car collision, and lost luggage protection.
Takeaways on the Chase Sapphire Preferred and its bonus end date
Those who thought they missed out on the big Chase Sapphire Preferred Card welcome bonuses of 2021 now have their chance. Bumped up from 60,000 points, this 80,000-point bonus will only be around until June 1, 2022. Plus, the card is an even better version of itself than this time last year. In August 2021, the card added better earnings rates on categories like dining, streaming services, and online groceries while adding benefits like a $50 annual credit on hotel stays purchased through Ultimate Rewards and a 10 percent annual points bonus of the total purchases. If you don’t already have it, now is the time to get this excellent travel credit card.
This article was originally published on April 14, 2022; it was updated with new information on May 20, 2022, and again on May 25, 2022.
While the offers mentioned above are accurate at the time of publication, they are subject to change at any time, and may have changed or may no longer be available.