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Sapphire Preferred Signup bonus
You can now earn 80,000 Chase Ultimate Rewards points for opening a Chase Sapphire Preferred Card and spending $4,000 in 3 months. Those points are worth a minimum of $800 cash back or $1,000 towards travel and other categories, but they can be worth much more as shown below.
The previous signup bonus offer on this card was 60K. During the pandemic this card once offered a record high 100K signup bonus, which expired last year.
It is unknown how long this offer will last for.
Chase typically will not match Sapphire card offers if you signed up with a lower offer, but it can’t hurt to ask!
Also available is a 50,000 point offer on the Chase Sapphire Reserve card, but you will be better off applying for this card and converting it to a Reserve card down the line.
Sapphire Preferred annual fee
There is a $95 annual fee for the primary card and no annual fee for additional cardholders.
Sapphire Preferred signup bonus terms
If you received your last Sapphire bonus on today’s date in 2018 or earlier, you are now eligible to earn another Sapphire bonus!
- You won’t get approved for this card if you have received a signup bonus on Sapphire Reserve, Sapphire Preferred, or Sapphire card within the past 48 months. You can call Chase to find out when you last earned a bonus on those cards or you can pull up your old statements online to check when you last got a bonus. You can also send Chase a secure message with your old card number to ask when you got the signup bonus on it.
- You won’t get approved for this card if you currently have an active Sapphire Reserve, Sapphire Preferred, or Sapphire card. However you can call Chase to change those cards to a Freedom Unlimited, Freedom, or Freedom Flex card, wait 2-4 days, and then apply for a Sapphire Preferred card! You can keep them as Freedom cards to help build your Quinfecta or you can upgrade back again if you still want a Sapphire Reserve.
- You can apply and Chase won’t pull your credit or approve you if you are not eligible to get the card bonus.
- You will get the bonus for this card even if you are an authorized user on another person’s Sapphire card.
- If you are approved, that means you will get the bonus for this card as long as you spend $4,000 in 3 months.
All Chase cards that earn Ultimate Rewards are subject to 5/24 restrictions, meaning that you are not likely to be approved if you have been approved for 5 or more consumer credit cards in the past 24 months. 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.
Sapphire Preferred annual hotel credit
Get a $50 annual hotel credit every cardmembership year as a statement credit when you book any hotel through the Ultimate Rewards portal.
New Sapphire Preferred cardholders as of 8/16/21 can use this credit immediately! Existing cardholders can use it starting with your first account open date anniversary after 8/15/21.
You can pay for hotels with partial cash and partial points at a value of 1.25 cents per point, so you can pay $50 and get back $50, plus use points for the remainder.
Sapphire Preferred anniversary bonus
New and existing cardholders get a 10% anniversary points bonus on all spending starting on 8/15/21. 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.
Sapphire Preferred card earnings
- 5 points per dollar on all travel booked through the Ultimate Rewards portal (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 3/31/25. (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), streaming purchases (3.1x vs 1x), online grocery purchases (3.1x vs 1x), airfare booked via the Ultimate Rewards portal (5.1x vs 5x), and everyday purchases (1.1x vs 1x)!
Sapphire Preferred spend threshold
You’ll need to spend $4,000 on this card within 3 months.
You can pay your federal taxes for a 1.87% fee. If you overpay your taxes you can request a refund or apply it to your next year’s taxes.
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.
Sapphire Preferred card benefits
- Primary rental car CDW insurance in every country.
- 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 credit and bonus points
Charge your Peloton membership fee to your Sapphire Preferred card and you’ll automatically get $60 back through 6/30/22.
Make a Peloton purchase of $495+ and earn 5 points per dollar spent through 6/30/22.
Increased points value
If you or someone in your household has a Sapphire Preferred card you can redeem Chase Ultimate Rewards points earned from any card at a value of 1.25 cents towards paid travel. That makes the 80K points worth at least $1,000 towards paid travel.
If you or someone in your household has a Sapphire Reserve card you can redeem Chase Ultimate Rewards points earned from any card at a value of 1.5 cents towards paid travel. That makes the 80K points worth at least $1,200 towards paid travel.
Pay yourself back
Chase Ultimate Rewards cards allow you to Pay Yourself Back for purchases in rotating categories.
Currently, you can pay yourself back for Airbnb and select charitable organizations at a rate of 1.25 cents per point through 6/30.
A great feature of the program is that you keep the original points that the purchase earned, even though you paid yourself back for the purchase. That means your points will be worth more than 1.25 or 1.5 cents each!
In other words, if you spend $300 on an Airbnb on Sapphire Preferred, you can use 24,000 points to offset that purchase and make it free. Plus, you’ll still earn 630 points for travel purchases, so you effectively used 23,370 points to offset the purchase. That means your points were actually worth 1.28 cents each.
If you spend $300 on dining or Airbnb on Sapphire Reserve, you can use 20,000 points to offset that purchase and make it free. Plus, you’ll still earn the 900 points for dining or travel, so you effectively used 19,100 points to offset the purchase. That means your points were actually worth 1.57 cents each.
Airline and hotel transferability
If you or someone in your household has a Sapphire Preferred card you can transfer Chase Ultimate Rewards points into valuable airline and hotel mileage currencies.
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 ($550 annual fee)
- Chase Freedom Unlimited Card ($0 annual fee)
- Chase Freedom Card ($0 annual fee)
- Chase Freedom Flex Mastercard ($0 annual fee)
Note that some 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 at least 1.5 cents towards travel!
If you want to get a Sapphire Reserve, your best path is to apply for the Sapphire Preferred card and then convert it to a Sapphire Reserve as you’ll get 80,000 signup bonus points instead of 50,000 points!
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.
A Chase Bifecta would consist of a household that has the Sapphire Preferred or Sapphire Reserve and the Freedom Unlimited. The total effective annual fees would be either $95 with Sapphire Preferred or $250 with Sapphire Reserve after accounting for that card’s $300 annual travel credit. With the Sapphire Preferred+Freedom Unlimited you would earn 1.5 points per dollar everywhere, 2.1 points per dollar on all travel, 3 points per dollar on drugstores, 3.1 points per dollar on dining, streaming, and online grocery shopping, and 5.1 points per dollar on travel booked via Chase. You’ll be able to transfer all of your points into airline miles or hotel points or use the pay yourself back feature. Read more about Freedom Unlimited here.
A Chase Trifecta adds a no annual fee card like Ink Cash or Chase Freedom Flex into the mix, so your total effective annual fee will still be $95 or $250. Both of those cards give options to earn a whopping 5 points per dollar in various categories on top of the 2-3 points per dollar that the Sapphire cards offer and the 1.5-5 points per dollar everywhere else with a Freedom Unlimited card. Read more about Freedom Flex here and read more about Ink Cash here.
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 $250. The Quadfecta is the sweet spot and allows you to really supercharge your spending everywhere.
A Chase Quinfecta could add the Ink Preferred to that mix, adding $95 to the annual fee total. This make sense if you spend money on shipping, social media advertising, or search engine advertising, or if you want free cell phone insurance.
Alternatively, you can create a Chase Quinfecta by adding the Chase United Explorer card, United Club Infinite Card, Chase United Gateway Card, Chase United Quest Card, or Chase United Business Card into the mix. Those cards don’t earn Ultimate Rewards points, but it makes your Ultimate Rewards points more valuable. Having a United card enables you to have access to significantly expanded United saver and standard award space in addition to benefits like 2 free club passes, a free checked bag, a free carry-on bag, and priority boarding, even when you’re on a basic economy fare. See more about those benefits here.
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!
DoorDash DashPass Membership
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 Chase Sapphire Preferred card to your Doordash account and open the Doordash app, you can enroll for free through 12/31/24!
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, 25% bonus through 5/15)
- British Airways (OneWorld)
- Aer Lingus (OneWorld)
- Iberia (OneWorld)
- Qatar (OneWorld, transfer via BA)
- Virgin Atlantic
Hotel transfer partners
You can transfer points at a 1:1 ratio to:
The great thing about Chase Ultimate Rewards is how versatile and valuable they are
The Sapphire Preferred card allows you and anyone in your household to transfer Chase points into miles. They also allow you to use points at a value of 1.25 cents each towards travel.
The Sapphire Reserve also allows you and anyone in your household to transfer Chase points into miles. Plus it allows you to use points at a value of 1.5 cents each towards travel.
The fixed value is excellent and doesn’t require hunting down award space, but those points can be much 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 7.5K points to British Airways 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!
- If I want to stay in a non-chain hotel that costs $300/night and don’t want to pay cash, I can redeem 20K points for the room thanks to my Sapphire Reserve card’s minimum redemption value of 1.5 cents per point or 24K points with the Sapphire Preferred card’s minimum redemption value of 1.25 cents per point
- 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 110K or 120K 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!
- If I want to book a $2,281 business class ticket on Air Canada to Tel Aviv I can redeem 152K points for the flight thanks to my Sapphire Reserve card’s minimum redemption value of 1.5 cents per point or 182K points with the Sapphire Preferred card’s minimum redemption value of 1.25 cents per point, plus I’ll earn Qantas miles for more future travel as it’s considered a paid flight instead of an award flight.
- 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.
Will you signup for this Sapphire Preferred offer?