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If you’re at all familiar with the world of points and miles earning, then you know that the Chase Sapphire family of cards contains some of the most popular cards for earning points to use with a variety of travel providers. Chase Ultimate Rewards points are known as some of the most valuable when it comes to travel redemption. The Chase Sapphire Preferred® Card is the family’s lower-end credit card option (compared to the Chase Sapphire Reserve®).

If you’ve never signed up for the Chase Sapphire Preferred® card before, is now the time to take advantage of this offer? Here’s everything you need to know about the Chase Sapphire Preferred 80k offer.

The Chase Sapphire Preferred Signup Bonus Offer

So what’s the sign-up bonus that has the points- and miles-earning world in a tailspin?

New Chase Sapphire Preferred® Card cardholders can earn 80,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening, worth $1,000 when you redeem through Chase Ultimate Rewards®. Plus, they can earn up to $50 in statement credits towards grocery store purchases within the first year of account opening.

The Value of All Those Chase Ultimate Rewards Points

Chase Ultimate Rewards points are some of the most valuable when it comes to booking travel via the Chase Ultimate Rewards travel booking portal. There are a number of travel providers to choose from, including just about all of the well-known travel brands, both airlines and hotel chains alike. 

If you book travel through the Chase Ultimate Rewards portal, each point is worth $0.0125. So, in other words, those 80,000 points are worth $1000. That’s a free $1000 you get to spend on award travel, just for putting $4,000 of your normal expenses on the Chase Sapphire Preferred card. If you don’t want to redeem the 80,000 points for award travel, they correlate to $800 cash back, if that’s an option you choose.

Many cardholders additionally choose to transfer their Chase Ultimate Rewards points to their favorite airline or hotel loyalty program, for even more ways to spend their hard-earned points. Earning the Chase Sapphire Preferred 80k offer provides plenty of point-transferring opportunities.

Now more than ever, though, Chase is offering cardholders new ways to redeem their points, given that travel is down. Recent promotions have allowed cardholders to receive credit statements for their points, with a Pay Yourself Back feature.

You can also redeem points with retailers, or get your points as cash back — but those don’t give you that same value of $0.0125 per point. 

What Do You Get With the Card? 

But, after you’ve earned your Chase Sapphire Preferred bonus offer, what are the benefits of having this card in your wallet?

The Chase Sapphire Preferred® card gives you 2 points for every $1 spent on dining and travel — including takeout, eligible delivery services, taxis, hotels, and parking. You earn 1 point for every $1 spent on everything else. 

There are a few special earning opportunities running right now. Through March 2022, you can earn 5 points for every $1 you spend with Lyft. Cardholders also get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DoorDash DashPass. Cardholders must activate by 12/31/21 to qualify.

Through April 30, 2021, cardholders automatically earn 2x points per $1 spent at grocery stores, up to $1,000 per month.

Additionally, cardholders can earn up to $60 in statement credits on Peloton Digital and All-Access Memberships through December 31, 2021. Points are worth 25% more now through April 30, 2021, when redeemed for statement credits against existing purchases in select, rotating categories with the Chase Pay Yourself Back feature. Points are also worth 25% more when redeemed through the new Chase Dining hub in Ultimate Rewards, now through April 30, 2021.

The card’s annual fee is $95 per year. It comes with no foreign transaction fees. There’s a range of travel insurance and protection that comes with the card, such as trip cancellation coverage, baggage delay coverage and rental car insurance. 

Should you take advantage of Chase Sapphire Preferred 80k offer?

Yes, absolutely. The annual fee and spending requirement to earn the bonus are more than reasonable. Plus, what you get in return is well worth it: $1000 in free award travel when booked as award travel through Chase Ultimate Rewards. And while you may not be traveling much now, when you do get back on the road, that $1000 will come in very handy. Again, if you don’t want that $1000 in travel, you can easily get $800 in cash back — an offer that would be ridiculous to turn down.

Plus, the ability to earn up to $50 in statement credits towards grocery store purchases doesn’t hurt.

Before you sign up, however, make sure that you’re not in violation of Chase’s notorious 5/24 rule. This rule prevents you from opening up any new Chase card if you’ve opened five or more credit cards of any type within the last 24 months. You’ll also need a good to excellent credit score to qualify, which is a score between 670 and 850.

Otherwise, this Chase Sapphire Preferred offer is worth consideration.

80,000 bonus: Chase Sapphire Preferred®

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Chase Sapphire Preferred® Card

  • Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 when you redeem through Chase Ultimate Rewards®. Plus earn up to $50 in statement credits towards grocery store purchases within your first year of account opening.
  • Earn 2X points on dining including eligible delivery services, takeout and dining out and travel. Plus, earn 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,000 toward travel.
  • With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
  • Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash's subscription service. Activate by 12/31/21.
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
  • Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.

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