Chase Sapphire Preferred® Card: Refresh and New Welcome Bonus
The Chase Sapphire Preferred® Card is one of my top choices because of its amazing signup bonus, reasonable annual fee, and the amazing value of the points it earns. If you've been contemplating adding a travel credit card to your wallet, now might be the perfect time to get one, because the card just launched a welcome offer of 100,000 bonus points after you spend $5,000 on purchases within the first 3 months.
Chase Sapphire Preferred® Card
Earn 100,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
Learn More to ApplyThis is a go-to card for travelers because of the great benefits it offers including:
- 5x on travel purchased through Chase Travel℠.
- 3x on dining, select streaming services and online groceries (excluding Walmart, Target, and wholesale clubs).
- 3x on gas and EV charging (new)
- 3x on vacation rentals, including eligible Airbnb and Vrbo bookings (new)
- 2x on all other travel purchases.
- 1x on all other purchases.
- $50 annual Chase Travel℠ hotel credit.
- Complimentary access to DashPass.
Plus, you can enjoy other premium travel perks like rental car insurance, trip cancellation/interruption insurance, emergency evacuation insurance, trip delay reimbursement, and lost luggage insurance.
Welcome Bonus Details
The current Chase Sapphire Preferred® Card welcome offer on the of 100,000 bonus points is available to new cardmembers who spend $5,000 on purchases within the first 3 months of account opening.
The offer is unavailable if you currently have this card open and the terms say that it may not be available to you if you previously held this card or received a new cardmember bonus for this card. Before submitting the application, you should see a notification if you won't be eligible for the bonus.
For a new cardholder, points start at 1 cent each when you redeem for travel through the Chase Travel℠ portal, with select Points Boost bookings worth more, which means this bonus is worth at least $1,000. But the way I personally get the most value is by transferring points to airline and hotel partners, and theallows you to transfer points to 14 different airline and hotel partners, which could offer a much higher redemption value.
What's New in the Refresh
For most people, the updated card is better than before, with no change to the $95 annual fee:
- 3X points on gas purchases and electric vehicle charging
- 3X points on vacation home rentals, including eligible purchases through Airbnb and VRBO
- The annual Chase Travel℠ hotel credit increases from $50 to $100.
- A new Global Entry / TSA PreCheck® credit worth up to $120.
- A complimentary year of Apple TV (activate by year-end).
- Enhanced travel protections, including emergency evacuation and transportation coverage.
There are also two negative changes in the refresh that are worth flagging:
- Transfers to World of Hyatt move from 1:1 to 4:3. If Hyatt transfers were your main reason for the card, this is the change that stings most. If you also hold the Chase Sapphire Reserve® Card or the Sapphire Reserve for Business℠, you'll still be able to transfer 1:1 to Hyatt by moving your points to that card first.
- The 10% anniversary points bonus is going away for new applicants. It was never huge (e.g. $50,000 of spend earned 5,000 points), but it's definitely a negative.
My take on the changes: for most people, the new everyday categories and the bigger credits more than make up for these. If Hyatt was your whole thesis, take a closer look before applying if you can't pair with another card that transfers 1:1. That said, even at 4:3, this welcome bonus would be worth 75,000 Hyatt points, which is more than you'd earn from either Hyatt card right now.
My Takeaway
The Chase Sapphire Preferred® Card is easily one of the best travel cards out there. It hits that sweet spot of having a reasonable $95 annual fee while adding in great value with its rewards, transfer partners, and travel perks. If I were eligible, I'd be going for this one, so if you're looking to level up your travel game and turn your everyday spending into amazing experiences, the Chase Sapphire Preferred® Card is definitely worth a close look.
Editor’s Note: The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. 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.
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I love sharing my quest to optimize and upgrade my life. Previously I was Head of New Product Strategy at Wealthfront, co-founder and CEO of Grove (acquired by Wealthfront), co-founder of Milk (acquired by Google) and a Partner at GV, where I focused on seed and early stage investments.
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