Chase Sapphire Preferred Hikes Bonus to $1,000 Value

Erin Hurd
By Erin Hurd 
Edited by Kenley Young

Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

» This offer has expired

The limited-time offer described in this article expired at the end of May 2022. See our review of the Chase Sapphire Preferred® Card for the current offer.

The Chase Sapphire Preferred® Card is once again boosting its offer for new applicants by 20,000 points, meaning it’s now worth $1,000 when redeemed for travel through Chase.

As of April 14, 2022, 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 when you redeem through Chase Ultimate Rewards®.

Points are worth a penny each for cash back, but they get a 25% boost — for a value of 1.25 cents each — when you redeem for travel through Chase Ultimate Rewards®. Plus, you can opt to transfer points to various travel partners at a 1:1 ratio.

The card earns the following rewards:

  • 5 points per $1 spent on all travel purchased through Chase Ultimate Rewards®.

  • 5 points per $1 spent on Lyft (through March 2025).

  • 3 points per $1 spent on dining (including eligible delivery services and takeout).

  • 3 points per $1 spent on select streaming services.

  • 3 points per $1 spent on online grocery purchases (not including Target, Walmart and wholesale clubs).

  • 2 points per $1 spent on travel not purchased through Chase Ultimate Rewards®.

  • 1 point per $1 spent on other purchases.

Additional benefits:

  • Hotel credit: Up to $50 in statement credits each account anniversary year for hotels booked through Chase.

  • Anniversary rebate: Earn bonus points equal to 10% of your total purchases in the previous year.

  • Pay Yourself Back: Redeem points for statement credits applied toward purchases at select categories. Currently: Airbnb (through June 2022) and select charitable organizations (through December 2022).

Find the right credit card for you.

Whether you want to pay less interest or earn more rewards, the right card's out there. Just answer a few questions and we'll narrow the search for you.

Get Started
Get more smart money moves – straight to your inbox
Sign up and we’ll send you Nerdy articles about the money topics that matter most to you along with other ways to help you get more from your money.