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Travel lovers, buckle up: The Chase Sapphire Preferred® Card, a favorite among jet-setters, has increased its sign-up bonus offer.
As of Sept. 15, 2020, new applicants will be eligible for the following offer: Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®
The new offer is a 20,000-point boost from the card's previous sign-up bonus. Points are worth a penny each for cash back, but they take on a value of 1.25 cents each when you redeem for travel through Chase Ultimate Rewards®.
As far as sign-up bonuses go, this offer proves more lucrative than that of its pricier sibling card, the Chase Sapphire Reserve®. That $550-annual-fee card offers the following to new applicants: Earn 50K bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards® .
Current holders of the Chase Sapphire Preferred® Card should note that its $95 annual fee is not waived in the first year, and that no other product benefits are changing.
The card will continue to earn the following ongoing rewards:
2 points per $1 spent on travel and dining at restaurants.
1 point per $1 spent on all other purchases.
Several other limited-time benefits for the Chase Sapphire Preferred® Card remain in place as well:
Through Sept. 30, 2020, the card also earns bonus rewards (up to a cap) on Instacart, at gas stations and on eligible streaming services.
Also through Sept. 30, cardholders can redeem points for statement credit against purchases at grocery stores, restaurants and home improvement stores at a value of 1.25 cents per point.
Through March 2022, the card earns 5X back on Lyft rides.
Via a partnership with DoorDash, 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 DashPass, DoorDash's subscription service. You must activate this offer by Dec. 31, 2021.