Chase Sapphire Preferred Credit Card Offer

If you’re looking for a travel rewards card with a valuable sign-up bonus and affordable annual fee, the Chase Sapphire Preferred® Card should be on your radar.

The card — which comes with beneficial travel perks, such as trip cancellation insurance and trip delay reimbursement — offers the following sign-up bonus: Our best offer ever! Earn 100,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,250 when you redeem through Chase Ultimate Rewards®.

The Chase Sapphire Preferred® Card comes with a $95 annual fee; however, the value you can get from the card’s sign-up bonus and rewards rate can easily cover that amount each year.

We’ll break down the Chase Sapphire Preferred® Card’s current offer, including if you qualify for the sign-up bonus, how to use the sign-up bonus and additional ways to earn bonus points.

In this post:

• Are you eligible for the Chase Sapphire Preferred® Card?
• How can you use your Chase Sapphire Preferred® Card sign-up bonus?
• Other ways to earn Chase Sapphire Preferred® Card rewards
• Transferring Chase Sapphire Preferred® Card rewards
• Is the Chase Sapphire Preferred® Card right for you?

Are you eligible for the Chase Sapphire Preferred® Card?

If you are a current cardholder of a Chase Sapphire Preferred® Card or a Chase Sapphire Reserve®, or if you are a previous cardholder of either card who received a new card member bonus within the past 48 months, you are not eligible to receive the Chase Sapphire Preferred® Card’s current new cardmember bonus.

Additionally, Chase’s unwritten “5/24 rule” could prevent you from being approved for a new Chase card if you have opened five personal credit cards (from any issuer) within the past 24 months.

How can you use your Chase Sapphire Preferred® Card sign-up bonus?

You can redeem Chase Ultimate Rewards® points in a variety of ways, including cash, gift cards, travel and merchandise. While points are typically worth 1 cent each, the value can vary. For example, when you redeem points for travel through Chase Ultimate Rewards, you will get 25% more value with your points.

Here are the redemption options and point values:

Cash. Points can be redeemed for cash as an account statement credit or as an electronic deposit into an eligible checking or savings account at a U.S. financial institution. When you redeem points for cash, each point is worth 1 cent — making the current sign-up bonus worth $600 in cash.

Gift cards. You can redeem your sign-up bonus for gift cards at more than 150 merchants. As with cash, points are worth 1 cent each when redeemed for gift cards, and the sign-up bonus will be worth $600.

To order gift cards, visit chase.com/ultimaterewards, call the number on the back of your card or visit a Chase branch.

Travel. You can squeeze the most value from the Chase Sapphire Preferred® Card’s sign-up bonus by redeeming points for travel through Chase Ultimate Rewards. Points are worth 1.25 cents each when redeemed for airfare, hotels, car rentals or cruises through the portal — boosting the value of the sign-up bonus to $750.

Note, you may be charged a service fee of up to $20 per transaction when you call the travel center to book travel.

Pay Yourself Back tool. For a limited time, Ultimate Rewards points will be worth 25% more when redeemed for statement credits against purchases in the following categories: grocery stores, dining (including restaurants and takeout), eligible delivery services and home improvement stores, such as Home Depot and Lowe’s.

To receive your statement credit, select an eligible purchase made within the past 90 days and apply your points to all or part of the purchase. This offer is valid May 31, 2020 through April 30, 2021.

Pay with Points through Chase Pay. You can use your points to pay for all or part of your purchases through Chase Pay at participating merchants. When you pay with points, each point is worth .8 cent. This means the sign-up bonus will be worth $480.

Additional options. You can also use points to shop for merchandise at Amazon.com (at a rate of .8 cents per point). Or, shop for Apple products through the Apple Ultimate Rewards store.

Transferring Chase Sapphire Preferred® Card points

Along with redeeming points for travel, gift cards and more, Chase allows you to transfer points at a very valuable rate of 1:1 to 10 airline partners and three hotel partners. The travel transfer partners are as follows: Aer Lingus AerClub, British Airways Executive Club, Emirates Skywards, Flying Blue Air France KLM, Iberia Plus, JetBlue TrueBlue, Singapore Airlines KrisFlyer, Southwest Airlines Rapid Rewards, United MileagePlus, Virgin Atlantic Flying Club, IHG Rewards Club, Marriott Bonvoy and World of Hyatt.

Other ways to earn Chase Sapphire Preferred® Card rewards

In addition to the generous sign-up bonus, Chase Sapphire Preferred® Card holders can earn bonus points in a variety of ways, including:

Spending on travel, dining and grocery purchases. Chase Sapphire Preferred® Card holders earn 2X points on dining at restaurants including eligible delivery services, takeout and dining out and travel & 1 point per dollar spent on all other purchases worldwide. Additionally, from Nov. 1, 2020 through April 30, 2021, cardholders earn 2X points on up to $1,000 in grocery store purchases per month, including pickup and eligible grocery store delivery services.

The travel category covers a broad range of purchases, including airlines, hotels, motels, timeshares, car rental agencies, discounted travel sites and campgrounds, as well as operators of passenger trains, buses, taxis, limousines, ferries, toll bridges and highways. Parking lots and garages are also included.

The restaurant category includes sit-down or eat-in dining locations, such as fast-food restaurants and fine dining establishments. Note, merchants that sell food and beverages within facilities, such as sports stadiums, theme parks, grocery stores and more, may be excluded from the restaurant category. Additionally, bakeries, caterers, gift card and service merchants also may not be eligible to earn the higher rewards rate.

The grocery category includes purchases made at supermarkets and merchants that offer a full grocery line of merchandise, such as a deli and bakery. The following merchants may not qualify for this category: warehouse clubs, discount stores, drugstores, gas stations and merchants that specialize in only a few grocery items.

Referring friends to open a card. With the Chase Sapphire Preferred® Card, you can earn up to 75,000 bonus points annually when you invite friends to carry the card, and the friends are approved. Cardholders earn 15,000 bonus points for each person they refer who is approved — up to five referrals per year.

Adding authorized users. While the Chase Sapphire Preferred® Card does not offer a bonus when you add an authorized user to your account, it does allow you to earn points when an authorized user makes a purchase using their card.

Is the Chase Sapphire Preferred® Card right for you?

If you’re interested in a travel rewards credit card that offers rewards in popular spending categories, as well as a valuable sign-up bonus, the Chase Sapphire Preferred® Card is an ideal choice.

In addition to rewards on travel, dining and more, the card offers a sign-up bonus that’s worth $750 when redeemed for travel through Chase Ultimate Rewards or for statement credits to cover grocery, dining, takeout and home improvement purchases.