This offer has ended and is now at 60,000 points
Chase Sapphire Preferred 100,000 Point Offer
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The Chase Sapphire Preferred 100K Point Offer
Here are the details on this awesome offer, the highest it has ever been publicly. Note: if you go to a Chase branch, you may still be able to get the $50 grocery store credit and the annual fee waived first year, in addition to the 100,000 point welcome offer.
The Chase Sapphire Preferred Offer
- Earn 100,000 points after spending $4,000 in the first 3 months
- 2x points on dining and travel
- 25% more in redemption value when redeemed for travel or for Pay Yourself Back in rotating categories
- Annual fee is $95 and not waived the first year
- Transfer to travel partners at 1:1 rate
Not Eligible Right Now? Here is What to Do About the Chase Sapphire Preferred 100K Point Offer
I know there are many who have held out on this offer because of the rules – you cannot get this card if you previously had a bonus on a Chase Sapphire card in the last 48 months and if you currently hold a Chase Sapphire Preferred or Chase Sapphire Reserve card. Well, if that is you and you will become eligible later this month, there is a workaround.
You can apply now and then call up for reconsideration after you become eligible. The application will still be in the system and if you were denied on the original application due to the 48 month rule, you should then be cleared to have the 100K point offer (since that is the offer tied to the application you made) when you call to have it manually reconsidered. This has worked for many this summer so it doesn’t hurt to give it a try!
New Benefits of the Chase Sapphire Preferred for Everyone
Now, Chase did recently fiddle with the benefits of the Chase Sapphire Preferred card itself and you can read in detail about that here. To put it in bullet points, here are the 2021 revisions to the Chase Sapphire Preferred card:
- 5x total points on all travel purchases through Chase Ultimate Rewards (up from a general 2x point earning on travel)
- 3x points on dining, including eligible delivery services, takeout, and dining out (previously at 2x)
- 3x points on select streaming services
- 3x points on online grocery purchases (excluding Target, Walmart, and wholesale clubs)
- $50 annual credit on hotel stays purchased through Ultimate Rewards.
- New cardmembers will start earning towards the credit immediately and existing cardmembers will start earning after their next account anniversary
- 10% anniversary point bonus (each account anniversary, cardmembers will earn bonus points equal to 10% of total purchases made the previous year. For example, if you spend $25,000 in a year, you will earn an additional 2,500 points)
Basically, they just added some premium level earning to a card with an annual fee that still sits just below $100. That is pretty good. In fact, Chase made it more valuable to hold the Chase Sapphire Preferred than the Chase Sapphire Reserve (for most people).
Downside – Dropped Lucrative Pay Yourself Back Categories
Another thing they changed this month was that the Chase Sapphire Preferred Pay Yourself Back dropped the grocery store, dining, and home improvement options. Instead, it picked up things like Airbnb and Away luggage. Yeah, this is a big bummer for me, too.
Chase Sapphire Preferred 100,000 Point Offer Worth Minimum of $1,250
Well, subtract that $95 annual fee and it is more like $1,155 but that is still a lot of money out of one card offer! If you redeem for travel directly through Chase, you can get 1.25 cents per point. That puts you at a $1,250 redemption value with straight travel.
For things like cheap domestic flights/international flights – including business class flights – this is a great way to go. Not only do you earn miles on your air travel but you also can spend far fewer points than you may if you were to transfer to a travel partner.
For example – not too long ago, there were some awesome deals on American Airlines from most airports in America to many airports in Europe for just $300 (or less) roundtrip. If you were to pay for those tickets with Chase point directly through Chase, you would have used just 24,000 Chase points. If you were to transfer to a partner like United for a ticket to the same destination, it would have cost you 66,000 points to transfer to United.
Great Value with Transfer Partners, Too
Of course, you can also transfer those points to Hyatt which would give you some awesome redemptions. If you were to redeem for the stellar Category 5 options that exist, that would be 5 nights in locations around the world! Or, if you wanted to splurge outright at top Hyatt properties, you would get 3 free nights plus another 2 nights at a Category 1 (for those airport hotels on the way in/out of town).
