Yesterday, the good news came that the popular Chase Sapphire Preferred card went up to a new bonus of 50,000 Ultimate Reward points, up from 40,000 points. With an additional 5,000 points available to those who add an authorized user (and for the user to use the card once), this is definitely a fantastic offer for this card. There have been targeted offers of 70,000 points in the past, but the 50,000 matches the previous best offer that it used to be at publicly.
Up To 55,000 Points With The Chase Sapphire Preferred
– Chase Sapphire Preferred Application Link (this link is not an affiliate link – if you would like to support the blog with your application, please visit the link at the top of this post)
The Chase Sapphire Preferred has always been a strong card to get for the valuable Ultimate Reward points that were earned as a bonus. It has some nice bonus categories as well, earning 2 points per dollar on things like travel (which is very broad) and dining.
Now, with the increased bonus, it makes this card even more interesting for those who have not had it before or have at least not had the bonus in 24 months (and currently do not hold the card).
The spending is exactly the same as before – spend $4,000 in 3 months to earn 50,000 Ultimate Reward points. You can add an authorized user (for free) and once a purchase is made with that card, you will be getting another 5,000 points!
No Change To The Annual Fee
Fortunately, Chase also left the annual fee alone. It is common with increased bonuses for Chase to also decide not to waive the annual fee to make up for the increase in points. Not only did they continue to waive it, but they have also left it at $95. There had been some noise a while back about that increasing to over $100, like $125, but that has stayed at $95.
- Earn 50,000 Ultimate Reward points after you spend $4,000 in 3 months
- Earn 5,000 points when you add an authorized user and make your first purchase in the first 3 months
- Earn 2X points on travel and dining at restaurants. 1 point per dollar spent on all other purchases.
- Transfer points to participating frequent travel programs at 1:1 — Travel programs include British Airways Executive Club, Korean Air SKYPASS, Singapore Airlines KrisFlyer, Southwest Airlines Rapid Rewards, United MileagePlus, Virgin Atlantic Flying Club, Hyatt Gold Passport, IHG Rewards Club, Marriott Rewards and The Ritz-CarltonRewards.
- et 20% off travel when you redeem for airfare, hotel stays, car rentals and cruises through Chase Ultimate Rewards
For most people, a popular card strategy would be to either hold the Chase Freedom and Chase Ink Plus (to make full use of Ultimate Rewards and their transferability) or a Chase Sapphire Preferred and Chase Ink Cash. This way, you are only paying the annual fee on one card (the Chase Freedom and Chase Ink Cash do not have annual fees).
Either way, you always do have the option of downgrading to the Chase Freedom when the annual fee is going to hit. Also, while there are not a lot of success stories with this, Chase has been known to grant a retention bonus to keep the Chase Sapphire Preferred.
This is a strong card and one I have held for many years. If you have been waiting for it, now would be a good time to think about getting it. As always, make sure the card and the points fit in with your spending ability and overall point strategy!
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