The Chase Sapphire Preferred® Card has long been considered one of the most valuable travel credit cards on the market, offering an impressive combination of rewards, benefits, and flexibility at a reasonable annual fee. Now, Chase has just improved the welcome offer on this popular card, making it an even more compelling option for new applicants.
Let’s explore this enhanced offer and examine why the Sapphire Preferred continues to be a standout option in the increasingly competitive travel credit card landscape.
The Chase Sapphire Preferred is now offering new cardholders 75,000 bonus Ultimate Rewards points after spending $5,000 within the first three months of account opening. This represents a significant 25% increase from the previous offer of 60,000 points.
At a conservative valuation of 1.7 cents per Ultimate Rewards point, this welcome bonus is worth approximately $1,275 in travel value. However, depending on how you redeem these points, you could potentially extract even greater value.
The exceptional value of Chase Ultimate Rewards points comes from their flexibility. Here are the two primary ways to redeem your points:
Ultimate Rewards points can be transferred at a 1:1 ratio to 14 airline and hotel partners, including:
When transferred strategically, your 75,000 points could be worth significantly more than their face value. For example, transferring to World of Hyatt could get you multiple nights at luxury properties, while transferring to airline partners could help you book business class flights that would otherwise cost thousands of dollars.
With the Chase Sapphire Preferred, your points are worth 1.25 cents each when redeemed through the Chase Travel Portal. This means your 75,000-point bonus is worth $937.50 for flights, hotels, car rentals, and more without having to worry about award availability or transfer times.
This redemption option provides a solid floor value for your points while offering the simplicity of booking just like you would through any online travel agency.
Before applying, it’s important to understand Chase’s eligibility requirements for this welcome bonus. According to the official language in the application:
“This credit card is unavailable to you if you currently have one open. The new cardmember bonus may not be available to you if you currently have any other personal Sapphire cards open, previously held this card or received a new cardmember bonus for this card. We may also consider the number of cards you have opened and closed, as well as other factors in determining your bonus eligibility.”
Breaking down these restrictions:
Additionally, Chase has implemented a helpful feature that will notify you during the application process if you’re not eligible for the welcome bonus, before any hard credit inquiry is performed.
Beyond the Sapphire-specific restrictions, Chase generally won’t approve applications for new credit cards if you’ve opened 5 or more personal credit cards across all banks in the past 24 months (known as the “5/24 rule“). However, there have been increasing reports of exceptions to this rule, with some applicants being approved despite being over the 5/24 threshold.
Even beyond the impressive welcome bonus, the Chase Sapphire Preferred offers ongoing value that easily justifies its modest $95 annual fee. Here’s why this card continues to be a favorite among travel enthusiasts:
The Sapphire Preferred offers one of the most competitive earning rates in its category:
Additionally, cardholders receive a 10% anniversary point bonus based on their total purchases made the previous year. For example, if you spent $20,000 on your card, you’d receive 2,000 bonus points on your account anniversary.
Cardholders receive a $50 statement credit each account anniversary year for hotel stays purchased through the Chase Travel Portal. This benefit alone offsets more than half of the annual fee.
The Sapphire Preferred offers some of the best travel insurance benefits available on a mid-tier credit card:
These protections can provide significant peace of mind and potential savings when traveling, especially considering that standalone travel insurance policies often cost more than the card’s annual fee.
The Sapphire Preferred serves as an excellent foundation for a multi-card strategy within the Chase Ultimate Rewards ecosystem. When paired with no-annual-fee cards like the Chase Freedom Flex℠ or Chase Freedom Unlimited®, you can transfer points earned on those cards to your Sapphire Preferred account, instantly increasing their value from 1 cent per point to at least 1.25 cents per point (or more when transferred to travel partners).
To provide context for this offer, let’s compare the Sapphire Preferred to some of its main competitors:
While each card has its strengths, the Sapphire Preferred‘s combination of a strong welcome bonus, reasonable annual fee, flexible redemption options, and comprehensive travel protections makes it a compelling choice for many travelers.
If you decide to apply for the Sapphire Preferred with its enhanced 75,000-point bonus, here are some strategies to get the most value from your card:
The Chase Sapphire Preferred‘s improved welcome offer of 75,000 Ultimate Rewards points represents exceptional value for a card with a modest $95 annual fee. With a potential value of $1,275 or more (based on a 1.7 cent per point valuation), this is one of the most attractive welcome bonuses currently available on a mid-tier travel card.
Beyond the initial bonus, the card’s strong earning structure, valuable redemption options, and comprehensive travel benefits make it a worthy addition to most travelers’ wallets. The ability to transfer points to airline and hotel partners or redeem them at an enhanced value through the Chase Travel Portal provides flexibility that few other cards in this price range can match.
If you’ve been considering the Chase Sapphire Preferred, this enhanced welcome offer presents an ideal opportunity to apply, especially if you qualify under Chase’s eligibility requirements. As with any credit card, be sure to consider how it fits into your overall financial strategy and travel goals before applying.
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