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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.
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).