Earn 75,000 Ultimate Rewards Points, Good For Up To $1,312.50 Of Travel, On The Chase Sapphire Preferred® Card!

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Earn 75,000 Ultimate Rewards Points, Good For Up To $1,312.50 Of Travel, On The Chase Sapphire Preferred® Card!

Sapphire Reserve Changes

The Sapphire Reserve card’s annual fee has skyrocketed to $795. That change will make the Chase Sapphire Preferred Card the sweet spot for mileage transfers for many people. Plus, Points Boost adds some sweet travel redemption options as well, all for a low $95 annual fee.

Signup Bonus

You can earn 75,000 Chase Ultimate Rewards points for opening a Chase Sapphire Preferred Card and spending $5,000 in 3 months. Those points are worth a minimum of $750 cash back or up to $1,312.50 on select flights and hotels, but they can be worth much more, as shown below.

Annual fee

There is a $95 annual fee for the primary card and no annual fee for additional cardholders.

Card signup bonus terms

1. You can now apply for this card even if you have an open Sapphire, Sapphire Preferred or JPM Reserve card, but not if you have an open Sapphire Preferred card. Note that while you can apply for the card, if you have those cards open, you may not be eligible for a signup bonus and will be told that during the application process via a pop-up.
2. You will be told during the application process if you are not eligible for a bonus, and you can cancel the application before your credit is pulled. This will be based on your history of opening and closing cards, spending on cards, etc. You can opt to receive the card without a signup bonus.

Those rules mean that it will be tough for many people to get a bonus on this card, but there’s no harm in applying, as your credit report won’t be pulled unless you accept the offer and are approved.

There have been reports of getting approved with the signup bonus offer even if you have received a Sapphire bonus within the past 48 months.

This is what the pop-up will look like if you apply but are ineligible for a bonus:

5/24

Some Chase cards are subject to 5/24 restrictions, meaning that you might not be approved if you have been approved for 5 or more consumer credit cards in the past 24 months. Enforcement of 5/24 has been patchy of late and the only way to know if you can get approved is by trying to apply.

It’s unknown if 5/24 restrictions apply to this card.

Note that the Chase system automatically counts cards like authorized user cards and store cards as cards that count towards 5/24, but if you explain to Chase that those cards are merely authorized user cards or store cards they can manually approve you for a new card.

You can check your credit report for free at the federally authorized annualcreditreport.com to check how many accounts are shows as being open in the past 24 months.

Annual hotel credit

Get a $50 annual hotel credit every cardmembership year as a statement credit when you book any hotel through Chase Travel^℠.

You can pay for hotels with partial cash and partial points, so you can pay $50 and get back $50, plus use points for the remainder.

Anniversary bonus

Sapphire Preferred Cardholders get a 10% anniversary points bonus on all spending. For example if you spend $20K on your card in a cardmembership year, you’ll get a 2,000 point bonus.

The bonus does not apply to the signup bonus or bonus point categories, it only applies to the 1 point per dollar base spending.

Card earnings

• 5 points per dollar on all travel booked through Chase Travel (Effectively 5.1 points with anniversary bonus).
• 2 points per dollar on travel (Effectively 2.1 points with anniversary bonus).
  • Includes airfare, hotels, car rentals, cruises, subways, trains, taxis, tolls, parking, Airbnb, Uber, etc.
• 3 points per dollar on dining (Effectively 3.1 points with anniversary bonus).
  • Includes sit-down or eat-in dining, including fast food restaurants and fine dining establishments, take-out, and restaurant delivery.
• 3 points per dollar on select streaming  (Effectively 3.1 points with anniversary bonus).
  • Includes Disney+, Hulu, ESPN+, Netflix, HBO Max, Sling, Vudu, Fubo TV, Apple Music, Apple TV, SiriusXM, Showtime, Pandora, Paramount+, Peacock, Spotify, YouTube Premium, and YouTube TV.
• 3 points per dollar on online grocery shopping (Effectively 3.1 points with anniversary bonus).
  • Excludes Target, Walmart, and wholesale clubs. The online grocery category includes purchases for grocery pickup and delivery that are placed online with grocery stores, specialty food stores, or delivery service merchants that classify as grocery store merchants such as Instacart (excluding membership and subscription fees). Meal kit delivery services are included in this category.
• 5 points per dollar on Lyft spending through 9/30/27. (Effectively 5.1 points with anniversary bonus)
• 1 point per dollar elsewhere (Effectively 1.1 points with anniversary bonus).
• There are no foreign transaction fees.

If you have a Sapphire Preferred and Sapphire Reserve, you’ll want to use the Preferred card for dining purchases (3.1x vs 3x after anniversary bonus), streaming purchases (3.1x vs 1x), online grocery purchases (3.1x vs 1x after anniversary bonus), airfare booked via Chase Travel (5.1x vs 5x after anniversary bonus), and everyday purchases (1.1x vs 1x after anniversary bonus)!

Spend threshold

You’ll need to spend $5,000 on this card within 3 months.

You can pay your federal taxes for a 1.75% fee.

My local natural gas company allows me to prepay up to $1,000 on a credit card for a $1.65 flat fee. That’s a great way to earn miles and help meet a spend threshold. My electricity supplier allows me to pay with a credit card for free as long as I am enrolled in autopay.

Card benefits

• Primary rental car insurance worldwide (secondary on domestic rentals for NY residents with their own auto insurance)
• Trip Cancellation/Trip Interruption Insurance
• Lost Luggage Insurance
• Trip Delay Reimbursement
• Baggage Delay Reimbursement
• Travel Accident Insurance
• Purchase protection for items damaged or stolen within 120 days

Peloton bonus points

Make a Peloton purchase of $150+ and earn 5 points per dollar spent through 12/31/27, up to 25K points.

DoorDash DashPass Membership and $10 monthly credit

DoorDash DashPass allows you to get free delivery and lower service fees on $12+ orders from select restaurants that have a blue checkmark. There are also lots of promotions and free food offers available to DashPass members.

DashPass normally costs $9.99/month.

If you add your Sapphire Preferred to your Doordash account and open the Doordash app, you can enroll for free through 12/31/27!

You’ll also receive one promo of up to $10 off each calendar month at checkout on one grocery, convenience, or other non-restaurant order on DoorDash, which can be stacked with other promo offers and coupons.

Points Boost Redemption Value

Cardholders receive a value of 1 cent per point on all travel and a value of 1.25-1.75 cents per point on select airlines and hotels through Chase Travel.

This can be an excellent value for some redemptions!

You can get a value up to 1.75 cents per point for premium economy, business, and first class tickets on airlines like United, Air Canada, Aer Lingus, Emirates, Singapore, and more!

Personally, I have always received the most value by transferring points to airline or hotel points, but at a value of 1.75 cents per point, there are some compelling redemptions via Chase Travel!

It also means that if you earn 1.5 to 5.1 points per dollar on your spending and redeem at a value of 1.75 cents each, you’l be earning between 2.625%-8.925% back!

When searching in Chase Travel, you can filter the results by Points Boost hotels only.

For example, redeeming United to Israel in business class for 1.75 cents per point is a great deal:

Air Canada business class for 1.75 cents per point:

Premium Economy for 1.5 cents per point:

Domestic first class for 1.75 cents per point:

You can also get hotel bargains with Points Boost at a 1.5 cent per point value:

Airline and hotel transferability

If you or someone in your household has a Sapphire Preferred, you can transfer Chase Ultimate Rewards points into valuable airline and hotel mileage currencies.

Card convertibility

You can call Chase to convert this card or any of the following cards into another card from this list:

• Chase Sapphire Preferred® Card ($95 annual fee)
• Chase Sapphire Reserve® Card ($795 annual fee)
• Chase Freedom Unlimited® Card ($0 annual fee)
• Chase Freedom Flex Mastercard ($0 annual fee) All information about the Chase Freedom Flex Card has been collected independently by DansDeals.
• Chase Freedom Card ($0 annual fee)

Note that in general, reps will only allow card conversions after you have had the card for 12 months.

If you or someone in your household has a Sapphire Reserve, then your points will be worth up to 2 cents towards travel!

Killer Combos

Stacking multiple Ultimate Rewards cards together can supercharge your earnings by getting you more points per dollar while increasing the value of all your points.

Read more about this strategy in depth in this post.

A Chase Bifecta would consist of a household that has the Sapphire Preferred or Sapphire Reserve and the Ink Business Unlimited® Credit Card. The total effective annual fees would be either $95 with Sapphire Preferred or $495 with Sapphire Reserve after accounting for that card’s $300 annual travel credit.  With the Sapphire Preferred+Ink Unlimited you would earn 1.5 points per dollar everywhere, 2.1 points per dollar on all travel after the Sapphire Preferred annual bonus, 3 points per dollar on drugstores, 3.1 points per dollar on dining, streaming, and online grocery shopping after the Sapphire Preferred annual bonus, and 5.1 points per dollar on travel booked via Chase after the Sapphire Preferred annual bonus. You’ll be able to transfer all of your points into airline miles or hotel points.

If you earn 1.5-5.1 points per dollar and redeem at a value of 1.75 cents each, you’l be earning between 2.625%-8.925% back!

A Chase Trifecta adds a no annual fee card like the Ink Business Cash® Credit Card or Chase Freedom Flex into the mix, so your total effective annual fee will still be $95 or $495. Both of those cards give options to earn a whopping 5 points per dollar in various categories on top of the up to 8 points per dollar that the Sapphire cards offer and the 1.5-5 points per dollar everywhere else with a Freedom, Ink Cash, or Ink Unlimited card.

A Chase Quadfecta would add both the Ink Cash and Chase Freedom Flex on top of a Sapphire card and an Unlimited card, so your total effective annual fee will still be just $95 or $495. The Quadfecta is the sweet spot and allows you to really supercharge your spending everywhere.

A Chase Quinfecta could add the Ink Business Preferred® Credit Card to that mix, adding $95 to the annual fee total. This makes sense if you spend money on shipping, social media advertising, or search engine advertising, or if you want free cell phone insurance.

Again, all of these cards don’t need to be in one person’s name. 2 people from the same household can split up the requisite cards that make up the Quinfecta, as they can transfer the Ultimate Rewards points back and forth between themselves freely and they can add each other as an authorized user on their cards!

Airline transfer partners

You can transfer points at a 1:1 ratio to:

• United (Star Alliance)
• Air Canada Aeroplan (Star Alliance)
• Singapore (Star Alliance)
• Air France/KLM Flying Blue (Skyteam)
• Virgin Atlantic (Skyteam)
• British Airways (OneWorld)
• Aer Lingus (OneWorld)
• Finnair (OneWorld, via British Airways)
• Iberia (OneWorld)
• Qatar (OneWorld, via British Airways)
• Emirates
• JetBlue
• Southwest

Hotel transfer partners

You can transfer points at a 1:1 ratio to:

• Hyatt
• IHG
• Marriott 
• You can also transfer points to Hilton at a 1:1.5 ratio via Virgin Atlantic.

The great thing about Chase Ultimate Rewards is how versatile and valuable they are

The Ink Preferred Card and Sapphire Preferred cards allow you and anyone in your household to transfer Chase points into miles and earns a Points Boost redemption value up to 1.75 cents per point.

The Sapphire Reserve also allows you and anyone in your household to transfer Chase points into miles and earns a Points Boost redemption value up to 2 cents per point.

The Points Boost value is excellent and can mean that a $500 hotel room will cost just 25K points or a $1,000 business class redemption will cost just 50K points. Or you can make your points potentially even more valuable by transferring them into airline miles or hotel points.

• If I want to stay in a 5 star Park Hyatt in the Maldives, Melbourne, NYC, Paris, Sydney, or Tokyo that would cost over $1,000/night, I can instantly transfer 25-40K points to Hyatt to do that, a value of up to 6 cents per point.
• If I need a one-way flight from Cleveland (or Chicago, Detroit, Miami, Montreal, Orlando, Pittsburgh, Toronto, etc) to NYC that can cost $500 each way, I can instantly transfer 9.5K points to Avios to book a short-haul on American with no last minute booking fees. Or if American doesn’t have availability I can instantly transfer 10K points to United for their short-haul award. That’s a value of up to 7 cents per point.
• Air Canada offers one-way short haul awards for just 6K miles. You can also get stopover awards for 5K miles, build round-the-world awards, and get free lap child awards in the US/Canada and bring lap children to anywhere else in the world for just C$25!
• United offers excellent award availability, especially to their cardholders, and awards can be changed or canceled for free.
• Flying Blue has award flights to Israel for 25K miles for adults or 18,750 miles for kids.
• If I want to fly in a $25,000 ANA First Class Suite round-trip from the US to Tokyo, I can instantly transfer 145K or 160K points to Virgin Atlantic. That’s a value of up to 23 cents per point. You can now redeem one-way awards for half the price as well!
• And thousands of other possibilities from Singapore couples suites to booking Southwest awards with 2 free bags and free cancellations, to stealing 2nd base in middle of an MLB game.

Dan’s quick thoughts:

For people who won’t utilize the Sapphire Reserve coupon book, this is an excellent alternative and is a bargain at just a $95 annual fee, or an effective $45 annual fee if you take advantage of the $50 annual hotel credit, which can now be stacked with Points Boost for even more value.

This card gives the same mileage transfer options as Sapphire Reserve, and a Point Boost program that isn’t quite as good, but is still competitive. It doesn’t have access to The Edit collection of hotels and benefits or the potential for 2 cent Points Boost redemptions, but it still makes your Chase points more valuable.

The Sapphire Preferred is a no-brainer premium card to massively increase the value of your Chase points with a low fee if you don’t want to take on the Sapphire Reserve to maximize the value of that card’s $795 annual fee.

Will you signup for the Sapphire Preferred Card?