One of the Chase Sapphire PreferredĀ® Card’s (see rates and fees) best welcome bonuses has returned.
This limited time offer is ending soon, but right now you can earn 100,000 bonus points after spending $5,000 on purchases during the first three months from account opening. At face value, this new bonus is worth 67% more than the previous welcome offer, but that’s just scratching the surface of its potential. Redeemed the right way, these bonus points can net you more than $1,250 in travel.
If you’ve ever considered getting the Chase Sapphire Preferred Card, now is the best time to apply as we don’t know how long this welcome bonus will last.
The Chase Sapphire PreferredĀ® Card packs a punch for a $95 annual fee card, offering annual travel credits, comprehensive travel protections and more.
- You can transfer rewards to all of Chase’s travel partners including World of Hyatt, Southwest Rapid Rewards and many more
- Long list of travel and shopping protections
- $50 annual Chase Travel hotel credit
- Has an annual fee
- Requires a high credit score
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select’s editorial staff.
- Earn 100,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
- Enjoy beneļ¬ts such as 5x on travel purchased through Chase Travelā , 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travelā . For example, 60,000 points are worth $750 toward travel.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2027.
- Member FDIC
Balance transfer fee
Either $5 or 5% of the amount of each transfer, whichever is greater
What makes this Chase Sapphire Preferred Card offer so special?
These extra Chase points are worth $400 in cash as a statement credit or direct deposit, and they’re worth even more if you use them to pay for travel booked through Chase TravelSM. With the Sapphire Preferred, your points are worth 25% more for Chase Travel bookings (1.25 cents), so you can use 40,000 points to pay for an additional $500 in travel.
And that’s just the straightforward redemptions. The Sapphire Preferred also gives you the option to transfer Ultimate Rewards points to any of Chase’s partner travel loyalty programs at a 1:1 ratio. As you’ll see, this can take an already great welcome bonus and push its value into the stratosphere.
What can you do with 100,000 Ultimate Rewards points?
Being able to transfer Chase Ultimate Rewards points to travel loyalty programs lets you wring the most value from those points by booking luxury hotels and premium award flights. And with 100,000 bonus points to spend, you’ll have more options than ever to travel in style while saving money.
For example, on select routes, one-way business-class award flights from the U.S. to Spain on Iberia cost 34,000 miles on off-peak dates and 50,000 points on peak dates. These prices apply to routes from New York, Boston, Washington D.C and Chicago to Madrid, and certain flights to Barcelona.
With the Sapphire Preferred’s previous 60,000-point bonus, you could only book a single, one-way business-class award flight from the U.S. to Europe with Iberia. The 100,000-point bonus allows you to book a round-trip business-class award flight or up to three one-way flights with Iberia. The cash price for each of these awards is typically several thousand dollars.
At the time of writing, we found a round-trip business class award from Boston to Madrid for 84,000 points. One leg is on an off-peak date and the other is on a peak date.
Paying cash for the same flight costs over $8,000.
This is a stunning deal, even accounting for the award flight’s roughly $250 in taxes and fees. Instead of getting one cent point for cash back or 1.25 cents per point if you booked these flights through Chase Travel, you’re getting over nine cents per point in value.
How to qualify for the Chase Sapphire Preferred card
You’ll need a good to excellent credit score to qualify for this card ā if your FICO score is less than 670, you probably won’t make the cut. For the best odds, you’ll want a 700+ score. In addition to the Chase Sapphire Preferred Card’s credit score requirement, there are other restrictions you should be aware of before you apply.
You aren’t eligible for the Sapphire Preferred if you:
- Currently have any version of the Sapphire card (being an authorized user on someone else’s account doesn’t disqualify you)
- Have earned a welcome offer from any Sapphire card in the previous 48 months (that’s 48 months from when you earned the new cardmember bonus, not when the account was opened or closed)
You’ll also need to navigate the unofficial Chase 5/24 rule. If you’ve opened five or more credit cards from any card issuer in the past 24 months, you’re much less likely to be approved for most Chase credit cards. One caveat is that business credit cards typically don’t add to your 5/24 count, as long as they don’t appear on your personal credit report.
How does this welcome bonus compare to other top credit card offers?
To find a better welcome bonus than what the Chase Sapphire Preferred Card is offering, you’ll need to look for a business credit card (which are harder to qualify for) or a premium credit card (which will have a more expensive annual fee). Plus, most cards that offer bigger intro bonuses have much higher spending requirements.
Several travel credit cards earn flexible travel rewards and have the same $95 annual fee as the Sapphire Preferred. The Capital One Venture Rewards Credit Card has a limited-time offer that’s close in value. You can earn 75,000 miles after spending $4,000 on purchases in the first three months from account opening. You’ll also receive a $250 Capital One Travel credit to use within your first cardholder year.
The Capital One Venture Rewards Credit Card’s bonus is worth at least $1,000 in travel, but the $250 travel credit expires, which makes the bonus less flexible. Earning 25,000 additional transferrable points with the Sapphire Preferred gives you more options and can be far more valuable. However, it is easier to earn the Venture Rewards Card’s welcome bonus because it has a lower spending requirement.
The Capital One Venture Rewards Credit Card has a reasonable annual fee and earns flexible travel rewards, which makes it a great travel card for beginners or heavy travelers.
- Valuable welcome offer worth at least $750 in travel
- You can transfer miles to over 15 Capital One partners, including Emirates Skywards, Choice Privileges and Singapore Airlines KrisFlyer
- No foreign transaction fees
- Lacks ongoing travel benefits such as statement credits or lounge access
- Limited bonus spending category that only applies to certain Capital One Travel bookings
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select’s editorial staff.
- Enjoy $250 to use on Capital One Travel in your first cardholder year, plus earn 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening – that’s equal to $1,000 in travel
- Earn unlimited 2X miles on every purchase, every day
- Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel, where you’ll get Capital One’s best prices on thousands of trip options
- Miles won’t expire for the life of the account and there’s no limit to how many you can earn
- Receive up to a $120 credit for Global Entry or TSA PreCheckĀ®
- Use your miles to get reimbursed for any travel purchase or redeem by booking a trip through Capital One Travel
- Enjoy a $50 experience credit and other premium benefits with every hotel and vacation rental booked from the Lifestyle Collection
- Transfer your miles to your choice of 15+ travel loyalty programs
Balance transfer fee
$0Ā at the Transfer APR, 4% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer to you
Foreign transaction fee
Normally, the welcome bonuses you can earn with the Wells Fargo Autograph Journeyā Card or Citi Strata Premierā Ā Card (both have $95 annual fees), match or exceed the Sapphire Preferred’s standard offer. Right now, that’s not the case.
These cards also earn transferrable rewards and offer similar perks, and they have lower minimum spending requirements. But you’re getting much less value upfront compared to the Sapphire Preferred’s limited-time welcome bonus. As long as you can manage the Sapphire Preferred’s elevated spending requirement, it’s a clearly better option for most people right now.
The Wells Fargo Autograph Journeyā Card offers generous rewards on travel and dining purchases, along with flexible redemption options, all for a modest annual fee.
- Excellent rewards rate for hotel, airfare and travel
- Strong welcome bonus
- Access to all of the Wells Fargo transfer partners including Flying Blue (Air France/KLM) and Virgin Red; Easy-to-use airline credit
- Easy-to-use airline credit; Built-in cell phone protection
- Fewer transfer partners than comparable programs
- No intro APR offer
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select’s editorial staff.
- Select Learn More to take advantage of this offer and learn more about product features, terms and conditions.
- Earn 60,000 bonus points when you spend $4,000 in purchases in the first 3 months ā that’s $600 toward your next trip.
- Earn unlimited 5X points on hotels, 4X points on airlines, 3X points on other travel and restaurants, and 1X points on other purchases.
- $95 annual fee.
- Book your travel with the Autograph Journey Card and enjoy Travel Accident Insurance, Lost Baggage Reimbursement, Trip Cancellation and Interruption Protection and Auto Rental Collision Damage Waiver.
- Earn a $50 annual statement credit with $50 minimum airline purchase.
- Up to $1,000 of cell phone protection against damage or theft. Subject to a $25 deductible.
- Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa SignatureĀ® Concierge.
Balance Transfer Fee
Intro balance transfer fee of 3% for 120 days from account opening, then up to 5%, min: $5
Foreign transaction fee
The Citi Strata Premierā Card has competitive rewards rates and unlocks access to all of the Citi ThankYouĀ® transfer partners, which boosts the value of your points.
- Unlocks point transfers to all of the Citi ThankYouĀ® partners, including Emirates Skywards, Choice Privileges, Flying Blue and more
- Generous bonus spending categories include dining, supermarkets, hotels and flights
- Valuable welcome bonus
- Has an annual fee
- Car rental coverage is secondary, not primary
Highlights
Highlights shown here are provided by the issuer and have not been reviewed by CNBC Select’s editorial staff.
- Earn 60,000 bonus ThankYouĀ® Points after spending $4,000 in the first 3 months of account opening, redeemable for $600 in gift cards or travel rewards at thankyou.com.
- Earn 10 Points per $1 spent on Hotels, Car Rentals, and Attractions booked on CitiTravel.com.
- Earn 3 Points per $1 on Air Travel and Other Hotel Purchases, at Restaurants, Supermarkets, Gas and EV Charging Stations.
- Earn 1 Point per $1 spent on all other purchases
- $100 Annual Hotel Benefit: Once per calendar year, enjoy $100 off a single hotel stay of $500 or more (excluding taxes and fees) when booked through CitiTravel.com. Benefit applied instantly at time of booking.
- No expiration and no limit to the amount of points you can earn with this card
- No Foreign Transaction Fees on purchases
Balance transfer fee
Balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.
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Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staffās alone, and have not been reviewed, approved or otherwise endorsed by any third party.
