The Chase Sapphire Preferred is one of the biggest names in credit card rewards. It’s won awards, it’s become a mainstay of travel rewards cards, and it has legions of fans. If you’re curious about joining up, right now there’s a 60,000 bonus.
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Chase Sapphire Preferred Bonus – The Details
Bonus
60,000 points
Requirements
You must spend $4,000 with your new card within 3 months of opening an account.
Exclusions
The bonus is available if you do not have a Chase Sapphire card and have not received an intro bonus for a Sapphire card in the last 48 months.
Rates & Fees
- APR: 21.49 – 28.29%
- Annual Fee: $95
- Foreign Transaction Fee: 0%
Benefits
- 5x points on travel purchased through the Chase portal
- 3x points on dining, streaming, and online grocery purchases (excluding Target, Walmart, and wholesale clubs)
- 2x points on general travel
- 1x points on everything else
- $50 statement credit each account year for hotel stays purchased through the Chase portal (see notes)
- 5x on Lyft (until 3/31/25)
- 5x on Peloton over $150 (until 3/31/25)
- Complimentary DoorDash DashPass 1-year subscription (register before 12/31/27)
- $10 off per month on DoorDash non-restaurant orders
Deadlines
No deadline known
Notes
- Remember the Chase 5/24 rule!
- $50 hotel statement credit: A statement credit will automatically be applied to your account when your card is used for hotel accommodation purchases made through Chase Travel, up to an annual maximum accumulation of $50.
Chase Sapphire Preferred Bonus – Thoughts
There are a few things I like to consider with a credit card: the sign-up bonus, the earning potential, and the value.
The Chase Sapphire Preferred bonus tends to be around 60,000 with periodic promos for more. At first glance that seems like a bit less than competing rewards cards, but Chase points can be redeemed at 1.25 cents if used on the Chase travel portal, which helps add some value.
At a minimum, if you’re using the points on travel you can get $750.
Of course, if you transfer points to a partner program you’ll have the opportunity to get even more value. Of particular note: Chase points are one of a very limited number of ways to transfer points to Hyatt, and Hyatt points are worth dough.
As far as the long-term earning potential of the Sapphire Preferred goes: how much do you spend on travel, dining, and online groceries?
If you fit the profile it’s a strong card. If much of your spending falls outside those categories but you like the Chase ecosystem, you might want to think about getting one of Chase’s cash-back cards to pair with it. Otherwise, some different cards can beat the rate on general spending.
I especially wish that the 3x back on online grocery shopping also extended to in-store.
And what about value?
The card’s annual fee is $95, but that’s offset in part by the $50 hotel statement credit per year.
The add-on benefits for DoorDash and the increased earnings on Lyft and Peloton can be nice if you already use those services.
Chase has some valuable transfer partners too, and having access to those points could save you.
Overall, the Sapphire Preferred is a solid card that’s hard to go wrong with. As long as you spend in the categories or pair it with another card it’s an easy yes for recommendation.
Get 60,000 Chase Points
This link will take you to the sign-up page for the Chase Sapphire cards. Just click on the Sapphire Preferred (if that’s the one you want) to apply.
