The Chase Sapphire Preferred Card is offering a boosted welcome bonus of 100,000 Chase Ultimate Rewards points, which is 40,000 points higher than usual. To qualify for the bonus, cardholders must spend $5,000 within the first three months of opening the account. This increased spending requirement may be worth it for those who frequently book flights and hotels through Chase, as the extra points can save money on travel expenses. It’s recommended not to wait to apply for this offer, as boosted bonuses typically only last for a few months.
The Chase Sapphire Preferred Card is a popular choice for travelers due to its low annual fee and travel perks, such as trip cancellation and interruption insurance. The card’s rewards points are typically valued at one cent each, but when redeemed through the Chase Travel portal it offers a boosted rate of 1.25 cents per point. This means that the 100,000 bonus points from the welcome offer would be worth $1,250 when used for travel bookings. Cardholders can use their points for flights, hotels, rental cars, and cruises at the boosted rewards rate.
If travel plans are not on the horizon, there are other redemption options available but at a lower value. Cardholders can redeem points for a $1,000 statement credit to lower their credit card balance at a rate of one cent per point. Additionally, Chase offers a “Pay Yourself Back” program that allows points to be used for statement credits on purchases from select categories at a rate of 1.25% per point, though this is only available for select charities. Before booking through the Chase Travel portal, it’s recommended to explore other redemption options, as the airline and hotel partners may offer higher redemption rates if points are transferred.
It’s important to consider the overall value of the Chase Sapphire Preferred Card beyond the welcome bonus. Cardholders should assess whether the card’s features, benefits, and rewards program align with their spending habits and travel preferences. Since welcome bonuses are typically a one-time deal, it’s crucial to ensure that the card’s regular rewards and perks will offset the $95 annual fee. Additionally, it’s advised not to accumulate debt in pursuit of credit card rewards, as the high average interest rates on credit cards can negate the value of any rewards earned, leading to financial strain.
For those looking to earn rewards on everyday spending, the Blue Cash Preferred Card from American Express offers 6% cash back at U.S. supermarkets on up to $6,000 per year, as well as 6% cash back on select streaming services. Terms and conditions apply to American Express benefits and offers, and enrollment may be required for select benefits. The Chase Sapphire Preferred Card and the Blue Cash Preferred Card cater to different spending habits and preferences, so individuals should assess their priorities and choose the card that best aligns with their financial goals and lifestyle.
