Well, Chase is certainly having a big week.
Then Chase completed a trifecta of fun news and announced a new welcome offer for the Chase Sapphire Preferred: 80,000 bonus Ultimate Rewards points for new approvals who spend $4,000 on purchases within three months of being approved. (Up from 60,000 bonus points.)
80,000 Chase Ultimate Rewards points is worth at least $1,000 on travel when redeemed through the Ultimate Rewards travel site.
Goodness, gracious. I’m curious if they have anything else up their sleeves for this week! 😉
But, but, but… !
The pearl-clutching “But It Has an Annual Fee!” debit card-loving catastrophists who complain they never travel anywhere fun will cite the card’s $95 annual fee.
But as I pointed out, the 80,000 bonus points are worth a thousand bucks in travel.
I’m no math whiz, but I bet you can find something to do with $1,000 worth of travel points within ten years — which is how long it’d take you to break even on the bonus points alone.
💔 Quick Disqualifer💔
As I like to say: you should hear this from a friend.
If you want to be approved for the Chase Sapphire Preferred, there are three criteria you must meet:
- Be under 5/24.
- Not be a current Chase Sapphire Preferred cardholder
- Not be a current Chase Sapphire Reserve cardholder
And at least 48 months must have passed since you last received a new cardholders bonus for the Sapphire Preferred or Sapphire Reserve card.
Don’t freak out yet. If your spouse, partner, or other trusted person is eligible… 😉
The Chase Sapphire Preferred is a good “starter” card for people dipping their does into the points and miles shallow end — if you can responsibly pay it off every month.
And I think Chase is very cognizant of that.
Will it score you airport lounge access? No.
First class seats? Maybe domestically in the United States.
The $95 annual fee doesn’t cost an arm and a leg. The bonus category points aren’t OMG! exciting — but I think you get some good bang for your buck (or 95) with this card if you’re just starting out in the hobby. (Or need to top off your Ultimate Rewards balance.)
Bottom line for beginners: you’re better off spending $95/year for 1-3 years to see if Points and Miles is something you can sustain. Imagine dropping $1800 for “free” airport lounge access you never use.
Wait — a $1,000 Worth of Travel?!
Yup. A grand. One large.
Chase Sapphire Preferred cardholders can redeem Ultimate Rewards points for travel — and do so at 1.25 cents per point when booking through Chase. So 80,000 points = $1,000.
(FWIW, Chase Sapphire Reserve members can redeem them for 1.5 cents per.)
Barring that, you can transfer points to a number of Chase Ultimate Rewards partners.
The Chase Sapphire Preferred offers some decent — admittedly, not all are fantastic — bonus categories:
- 5X total points on Lyft rides through March 2022.
- 2X points on travel — which encompasses a lot: airfare, parking, hotels, rideshare, taxis… You get the idea.
- 2X on dining: restaurants worldwide, eligible delivery services, takeout
- 1X on everywhere else
Free Delivery from DoorDash!
Chase teamed up with DoorDash to offer $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass (DoorDash‘s subscription service) You must activate the perk before 12/31/2021. (Here’s our guide how to do that.)
How Long is the Chase Sapphire Preferred Offer Available?
We weren’t told when this offer will expire. With Chase, we generally receive a very limited heads-up. (Oh, hi! So, card X’s welcome offer expires in 48 hours.) Moral of the story: don’t dawdle. If I were eligible for a Chase Sapphire card (or any Chase card #524stinks), I’d be all over this.
Featured image: ©iStock.com/Damir Khabirov; Rene’s Points composite. Model is used for illustrative purposes only and no endorsement is implied.
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