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The Chase Sapphire Preferred Is Back With Its Best Bonus Ever—80,000 Points
Photo by Ekaterina Pokrovsky / Shutterstock You’ll have to move fast on this one.
Just as coronavirus vaccine rollouts prompt a new boom in travel interest, the Chase Sapphire Preferred® Card and the Chase Sapphire Reserve® have launched some of their best bonuses ever for a limited time. That makes it the perfect moment to apply for one of these popular travel credit cards and stock up on points you can redeem for trips in the future. The Chase Sapphire Preferred is offering 80,000 Ultimate Rewards points after spending $4,000 within the first three months, plus a $50 grocery statement credit. For its part, the Chase Sapphire Reserve is offering 60,000 bonus points after spending $4,000 within the first three months. Which Chase credit card is right for you will depend on the one whose annual fee makes more sense for your budget and offers benefits you’ll be able to maximize.
Current Chase credit card sign-up offers
If you missed out on the last time the Chase Sapphire Preferred was offering this all-time-high bonus back in September, you’re in luck because it’s back. But only for a short time, so don’t wait to apply.
Chase Sapphire Preferred® Card
Earn 80,000 bonus Ultimate Rewards points after spending $4,000 on purchases within the first three months of account opening—that’s 20,000 more points than this card usually offers. Plus, earn up to $50 in statement credits on grocery purchases within the first year. The card has a $95 annual fee.
Earn two points per dollar on dining (including takeout and delivery) and travel purchases like airfare, hotel bookings, train tickets, rideshares, and even tolls and parking. Through April 30, 2021, you can earn two points per dollar on up to $1,000 in grocery store purchases each month, including eligible pickup and delivery services. Now through March 2022, cardholders can also register to earn five points per dollar on Lyft rides.
Rewards and benefits
Chase Ultimate Rewards points earned with the Sapphire Preferred are worth 1.25 cents apiece when redeemed for travel through the Chase Ultimate Rewards online portal, which makes the 80,000-point sign-up bonus worth around $1,000. You can also transfer Chase points to 13 airline and hotel partners, including United, JetBlue, Southwest, British Airways, Hyatt, and Marriott, among others, which makes them very versatile. Through Chase’s partnership with DoorDash, Sapphire Preferred cardholders can enroll for at least a year of complementary DashPass membership before December 31, 2021, which includes waived delivery fees on orders of $12 or more from participating restaurants.
Since it premiered over a decade ago, the Chase Sapphire Preferred has become a favorite among travelers thanks to how easy it makes earning Ultimate Rewards points. Then there’s the sheer value you can get redeeming those points for travel, all for a relatively low annual fee of $95. The card also offers some comprehensive trip and purchase protections, which can save you time and money when things go wrong on the road. Given this is just the second time that the Chase Sapphire Preferred’s sign-up bonus has been this high, if you miss out on it now, you might not get another shot.
Chase Sapphire Reserve®
A higher annual fee brings a lot more perks with this premium travel credit card.
For a limited time, you can earn up to 60,000 bonus Ultimate Rewards points after spending $4,000 within the first three months of account opening. That is 10,000 points more than this card usually offers. Its annual fee is $550.
This card earns three points per dollar on dining and travel (after the $300 annual travel credit). Now through April 30, 2021, it also earns three points per dollar on up to $1,000 per month in grocery purchases. Through the Chase-Lyft partnership, Chase Sapphire Reserve cardholders can earn up to 10 points per dollar on Lyft rides through March 2022.
Rewards and benefits
Instead of 1.25 cents per point, you get 1.5 cents when redeeming for travel through the Chase Ultimate Rewards portal with this card, so its welcome bonus is worth $900. You can also transfer points to the program’s 13 airline and hotel partners, or redeem them for statement credits and gift cards, among other options. Cardholders receive up to $300 each year in statement credits toward travel purchases and up to $100 once every four years as reimbursement for either a Global Entry or TSA PreCheck application. They can also enroll for complimentary Priority Pass Select membership for access to over 1,200 airport lounges around the world, plus the same DoorDash DashPass benefit of the Chase Sapphire Preferred (and up to $60 in statement credits on purchases through the app in 2021).
If you’re a frequent flier who can leverage the card’s lounge and Global Entry benefits, and take advantage of the $300 annual travel statement credit and higher redemption rate, the Chase Sapphire Reserve could be a much better choice for you.
Which Chase credit card sign-up offer is better?
Deciding between these two cards can be difficult, but the Chase Sappphire Preferred is better for folks who want to earn a lot of points quickly without a high annual fee, while the Chase Sapphire Reserve is best for those who can take advantage of its numerous travel benefits. Unfortunately, you cannot receive the welcome bonus for both these cards; applying for one makes you ineligible for the other. Here are things to keep in mind when deciding between the Chase Sapphire Preferred and the Chase Sapphire Reserve.
The Chase Sapphire Preferred is offering 20,000 more bonus points than the Chase Sapphire Reserve plus up to $50 in grocery statement credits. It also has a much lower annual fee and many of the same travel and purchase protections as the Reserve. So if you’re looking for a quick haul of Ultimate Rewards points on a budget, go with the Sapphire Preferred.
On the other hand, the Chase Sapphire Reserve comes with some outsize perks that you can leverage for excellent value if you travel frequently. Its $300 annual travel statement credit offsets over half its annual fee (and can be applied to groceries through June 30, 2021). Don’t forget that you can also wring up to $100 more in value from it every four years for a Global Entry application, too.
What you really want to consider is how much spending you do on travel and dining. If those two categories make up a large part of your expenses, you might want to opt for the Reserve’s higher earning rates. Likewise, if you intend to redeem your Ultimate Rewards for travel through Chase rather than taking advantage of airline and hotel transfers, you get a lot more value from your points with the Chase Sapphire Reserve. If you plan to transfer them to airlines or hotels, though, you might as well get the Chase Sapphire Preferred since both cards offer the same point conversion rates.
Ultimately, your choice will come down to whether you prefer the budget-friendly Chase Sapphire Preferred, or if you don’t mind the higher-priced Chase Sapphire Reserve and can leverage its benefits on your future travels. Whichever card you get, these two offers are among the best we have ever seen for them and are well worth applying for right now.
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.
>> Next: How to Win at Travel With Chase Ultimate Rewards
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