Unlock the Benefits of the Chase Sapphire Preferred Credit Card
Non-affiliate disclosure: All information about this card has been collected independently by US Credit Card Guide and has not been reviewed by the issuer.
### Current Offers and Updates:
– **October 2024 Update**: The latest offer is 60,000 points plus $300. While competitive, it’s not the highest we’ve seen. Note that a 70,000 points plus $300 offer is available in-branch, with a required spend of $6,000 over six months.
– **June 2024 Update**: The higher offer has expired, and the current offer stands at 60,000 points.
– **May 2024 Update**: The online offer increased to 75,000 points, while branches offer 85,000 points.
### Key Benefits of the Chase Sapphire Preferred:
1. **60k+$300 Offer**: Earn 60,000 Ultimate Rewards (UR) points after spending $4,000 in the first three months. Plus, receive up to $300 in statement credits on Chase Travel purchases within your first year. The top recent offer was 100,000 points.
2. **Value of UR Points**: We estimate UR points to be worth about 1.6 cents each. This means the highest bonuses can be valued at approximately $1,600.
3. **Transferable Points**: Move UR points to partner airlines and hotels for increased value.
4. **Points Earning Rates**:
– **[New]** 5x UR points on travel booked through the Chase Travel portal.
– **[New]** 3x points on dining, select streaming services, and online grocery (excluding certain retailers).
– 2x UR points on other travel purchases, including companies like Uber.
– 1x UR point per dollar on all other purchases.
5. **[New] $50 Annual Hotel Credit**: Available per cardmember year, redeemable through the UR portal.
6. **[New] 10% Annual Bonus Points**: Gain 10% bonus points based on total spending each year.
7. **Pay Yourself Back**: Redeem UR points for credits against purchases in select categories at 1.25 cents per point. With the Chase Sapphire Reserve, redeem at 1.5 cents per point.
8. **Primary Car Rental Insurance**
9. **Limited-Time Offers**:
– Earn 5% cashback on Lyft until March 2025.
– Free DashPass (DoorDash membership) for up to 24 months with activation by end of 2024.
10. **No Foreign Transaction Fee**.
11. **Refer a Friend**: Earn 15,000 bonus UR points for each approved referral, up to 75,000 points per year.
### Disadvantages:
– Annual fee of $95, not waived for the first year.
### Ultimate Rewards (UR) Points Guide:
– Accumulate points with various Chase cards like Chase Freedom and Chase Ink.
– Transfer points between UR cards anytime.
– UR points don’t expire but you must transfer points if you close an account to prevent loss.
– Points can be transferred to hotel and airline partners at a 1:1 rate, with many ways to achieve good value.
### Recommended Application Tips:
– **[5/24 Rule]**: Chase will reject applications if you have 5+ new accounts in the last 24 months.
– Avoid multiple applications within 30 days for better approval chances.
– Apply for this card after owning other Chase cards for a few months or with extended credit history.
### Conclusion:
Chase Sapphire Preferred is essential for maximizing the value of UR points through partner transfers. Despite the spending rewards structure being less competitive, the sign-up bonus remains attractive. Remember to consider the 5/24 Rule and choose wisely between the Sapphire Preferred and Reserve.
Editorial disclosure: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved, or otherwise endorsed by any of the entities included within the post.
