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If you have been thinking about applying for the Chase Sapphire Preferred® Card, now might be the time. As of March 19, 2019, Chase updated the sign-up bonus for the Chase Sapphire Preferred credit card to 60,000 points.
Link to apply: Chase Sapphire Preferred® Card
Instead of earning 50,000 bonus points after spending $4,000 within the first three months of opening your account, eligible new cardholders now have the opportunity to earn 60,000 bonus points after making $4,000 worth of purchases within the first three months of account opening.
This is a sweet new deal. Your Chase Sapphire Preferred 60k bonus can be redeemed for $750 towards travel when you redeem through Chase Ultimate Rewards or transferred to Chase’s partners for even more value.
It’s important to note that the $95 annual fee isn’t waived for the first year, but the increase in bonus points make up for the annual fee since 10,000 points have a $100 cash value or $125 travel credit. But you can get even more value if you transfer your Sapphire Preferred points out to an Ultimate Rewards travel partner.
Other Chase Sapphire Preferred Benefits
The new Chase Sapphire Preferred® Card offers 2X points on travel, 2X points on dining worldwide, and 1X points for every dollar spent in every other category. There are no foreign transaction fees and the card comes with a convenient bundle of insurance benefits & protections. Including all that, the annual fee for the Chase Sapphire Preferred credit card is only $95. Again, note that with this new and updated sign-up bonus, you will pay the $95 annual fee from the first year.
Even so, the extra 10,000 sign-up bonus points easily make it worth paying the annual fee for an extra year. With the previous 50,000 point sign-up bonus, you could redeem those points for $625 worth of hotels or airfare through Chase Ultimate Rewards. With this new sign-up bonus for eligible new cardholders, 60,000 points can be redeemed for $750 worth of hotels or airfare through Chase Ultimate Rewards. That’s $125 more travel credit, putting you $30 ahead in terms of rewards when the cash value of the annual fee is subtracted.
Ways to Redeem Your Points
So, once you get the Chase Sapphire Preferred® Card, what are some of the best ways to redeem your Chase Ultimate Rewards points? Here are a few of our favorite ideas that we think you should try.
Island Hop in the South Pacific
With Singapore Airlines, it only costs 12,500 miles to book a one-way economy ticket in the South Pacific. If you would like to bump up to business or first, it will cost 17,500 miles and 22,500 miles, respectively. That’s a pretty good flat rate for trying out a premium cabin, and it can help you access some of your more unexplored pockets of the South Pacific.
Fly From San Francisco to Frankfurt
This long-haul, round trip route with United costs 60,000 United MileagePlus Miles, which is a decent one-off use for your sign-up bonus. This is a nice option because you don’t need to worry about any extra fuel surcharges with United. Plus, it’ll get you across the pond and back with just one redemption.
If you are located on the East coast, United has another trans-Atlantic route that can get you from Newark to Tel Aviv for the same price. Either one of those routes would be a great way to spend your bonus points. You can also fly with any of United’s partners from the US to Europe for the same price. This includes flights on Swiss, Lufthansa and Air Canada among others.
Fly Domestically Within the US
If you are a frequent flier, you may have noticed that many flights within the contiguous US can be just as expensive as international routes, if not even more expensive with the frequent sales we’ve been seeing. With United, the lowest redemption for most domestic roundtrip fares is 25,000 United MileagePlus Miles.
This is great because your bonus points will get you two domestic roundtrip tickets with 10,000 bonus points left over to spend somewhere else. Alternatively, you could book a roundtrip fare within the contiguous US for 25,000 United MileagePlus Miles, and then you could book a roundtrip fare to Alaska for 35,000 United MileagePlus Miles. That would total out your 60,000 points sign-up bonus and you would have two flights under your belt.
Fly to Hawaii
Flying to Hawaii from the US on American Airlines or Alaska Airlines will cost proportionally the same amount of points as domestic flights with United. But this time, you can transfer your Chase Ultimate Rewards Points to British Airways Avios for a cheaper redemption if you live on the West Coast.
If you fly with either American or Alaska, a one-way fare to Hawaii is only 12,500 points from a number of West Coast cities. Again, your 60,000 sign-up bonus can get you two roundtrip fares (or four one-way fares) with a little left over. Fly from LA to Maui or Kailua, or fly Phoenix to Honolulu or Kauai with this great low-cost fare.
With Southwest’s competitive awards chart, it is not uncommon to find Southwest routes within the US and Caribbean on sale for 6,000 Rapid Rewards points or less. At a 1:1 transfer ratio, your 60,000 point sign-up bonus can get you a ton of great one-way fares if you book sale fares with Southwest.
Be sure to keep an eye on the Southwest awards chart in order to redeem your points for those super cheap flights. Regardless of where you choose to go, the Chase Sapphire Preferred is a good option if you want to earn points for travel. Whether you choose to go overseas or even on a quick weekend getaway, the Preferred is great for earning points on hotel stays and dining purchases.
Summary on the New Chase Sapphire Preferred 60k Point Bonus
The Chase Sapphire Preferred® Card is often considered one of the best travel credit cards. In June 2018, Kiplinger’s Personal Finance even named it the “Best Credit Card for Flexible Travel Redemption.” With the many benefits and point redemption options, it’s easy to see why. How will you use your 60,000 points sign-up bonus with Chase Sapphire Preferred? Let us know in the comments.
Link to apply: Chase Sapphire Preferred® Card
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Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.