Chase launched an all-time best bonus on the Chase Sapphire Preferred® Card. If you don't already have this excellent general travel card (it’s NerdWallet’s No. 1 pick), it's definitely worth considering during this incredible offer.
Here's how to maximize the latest Chase Sapphire Preferred® Card offer.
The new Chase Sapphire Preferred welcome bonus
For a limited time, new Chase Sapphire Preferred® Card members can earn the following sign-up bonus: Earn 100,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,250 when you redeem through Chase Ultimate Rewards®.
That's 20,000 more bonus points than the previous sign-up bonus — and its highest ever.
This 100,000-point bonus is worth $1,250 toward travel booked through the Chase Travel Portal or by using the Pay Yourself Back tool. But that's just a baseline for the value that you can get from this sign-up bonus. Savvy travelers can transfer these 100,000 Chase Ultimate Rewards® points to travel partners to get even more value. Here's how.
The best Chase Ultimate Rewards® redemptions
Chase Ultimate Rewards® points transfer to 13 airline and hotel partners, and it's by utilizing these partners that you can really unlock the value of Chase points.
Round trip to Europe in Delta business class
One of the cheapest business class awards to Europe is using Virgin Points to book Delta One business class to Europe. You need just 100,000 Virgin Points to fly round-trip between the U.S. and Europe in Delta business class, and even those who haven't accumulated a single Virgin Point can take advantage of this opportunity. That's because Virgin Atlantic is one of Chase's 10 airline transfer partners.
Understandably, for such an incredible deal, availability can be tight. But when you can find an available award, you can use your new sign-up bonus for a business class flight to Europe.
» Learn more: How to build the ideal Chase Ultimate Rewards® wallet
See 2 European cities using United's Excursionist Perk
You can also use Chase Ultimate Rewards® points to fly business class on United to Europe. Even better, you can score a free flight within Europe using United's Excursionist Perk.
United ditched its award chart, but business class Saver awards to Europe on the airline can be found for 60,000 MileagePlus miles each way.
By booking a round-trip flight, you can use the Excursionist Perk to score a free flight within Europe.
For example, you can fly from San Francisco to Munich in United business class. After visiting Germany for a bit, you can hop from Munich to Amsterdam. Then, after seeing Amsterdam, fly back to San Francisco from Amsterdam in economy class.
The total cost is just 90,000 United miles, plus around $180. You can transfer Chase Ultimate Rewards® points to United at a 1:1 ratio to make this happen.
20 nights at Hyatt Category 1 hotels
Most hotel points are worth less than 1 cent. The sole exception: World of Hyatt. When NerdWallet dug into the numbers, we found that World of Hyatt points are worth 1.9 cents per point, on average. And since Hyatt is a transfer partner of Chase Ultimate Rewards®, you can use this partnership to really maximize the latest Chase Sapphire Preferred® Card offer.
Though Hyatt is best known for its luxury properties, you can stretch your Chase Ultimate Rewards® points by using them to book Category 1 Hyatt hotels. Reward nights at Hyatt hotels start at just 5,000 World of Hyatt points per night, so you can get 20 free hotel nights using the credit card’s sign-up bonus.
Up to 13 domestic American Airlines or Alaska flights
British Airways is a transfer partner of Chase Ultimate Rewards®, but you don't have to fly to (or through) the U.K. to use British Airways Avios. Instead, you can use British Airways Avios to book American Airlines or Alaska awards for domestic U.S. flights.
Award flights within North America start at just 7,500 Avios each way for flights under 650 miles in length. One way you can maximize this latest offer is to book up to 13 domestic award flights on American or Alaska.
Or you can use 16,500 Avios to book business class awards for destinations that are between 651 and 1,151 miles in length. That includes lie-flat business class options between Dallas-Fort Worth and Miami. Taken to the max, you can use 100,000 Chase Ultimate Rewards® points to book six one-way awards — or three round trips — in a lie-flat American business class seat.
Nearly $1,500 in Southwest flights
Southwest Rapid Rewards is also a Chase Ultimate Rewards® transfer partner. Due to Southwest's fixed-value rewards program, the upside isn't nearly as high as using your Chase points for other partners. But sometimes you can't beat the practicality of flying Southwest.
The value of Rapid Rewards points varies based on the cost of the flight. Due to how taxes and fees factor in, you'll get a better value on cheap fares and connecting flights. For example, you can book flights between Honolulu and Maui for just $39 each way.
Or you can use just 2,240 Rapid Rewards points and $5.60 to book the same flight. After factoring in $5.60 of taxes and fees, that's a redemption rate of over 1.49 cents per point.
At that rate, you can book nearly $1,500 in Southwest reward flights using the Chase Sapphire Preferred® Card’s new sign-up bonus.
» Learn more: The beginner’s guide to points and miles
Who is the Chase Sapphire Preferred® Card right for?
The Chase Sapphire Preferred® Card is one of our favorite general travel cards. It earns 2 Chase Ultimate Rewards® points per dollar spent on travel and dining. Plus, you can score temporary perks, like one free year of DoorDash DashPass (if activated before Dec. 31, 2021) and 5x total points on Lyft expenses through March 2022.
Even better, you'll be protected in case something goes wrong, because of the card’s travel protections. These include:
Auto rental collision damage waiver.
Trip delay reimbursement.
Trip cancellation/trip interruption insurance.
Lost luggage reimbursement.
Travel accident insurance.
All of these perks made the Chase Sapphire Preferred® Card a recommended card at its typical sign-up bonus. Now, it's even more appealing.
» Learn more: How to choose a travel credit card
Simply put, if you qualify to earn this sign-up bonus (more about that below), you should really consider signing up for the Chase Sapphire Preferred® Card during this limited-time offer.
Who should skip it?
There are two situations when you'll want to sit this offer out. First, to earn the full sign-up bonus, you need to be able to spend $4,000 in three months. If you can't organically spend this much on a credit card — and pay it off — now's probably not the time to get the Chase Sapphire Preferred® Card.
The only other reason you should pass on this large offer is if you don't qualify for the sign-up bonus. If you currently hold a Sapphire-branded card or have earned a sign-up bonus on any Sapphire card within the past 48 months, you're ineligible to earn this sign-up bonus.
In this case, you'll want to wait until you're eligible before applying for the Chase Sapphire Preferred® Card.
» Learn more: What is the 'Chase Trifecta?'
If you add the Chase Sapphire Preferred® Card to your wallet
The current Chase Sapphire Preferred® Card sign-up bonus is the highest bonus that we've seen for this specific card. These points are worth $1,250 if you book travel through Chase’s portal or use the Pay Yourself Back feature. However, you can really maximize the latest Chase Sapphire Preferred® Card offer by using Chase Ultimate Rewards® airline and hotel partners smartly.
Whether you stretch your points to get 13 domestic flights, stay 20 nights at a Hyatt or splurge by booking a business class trip to Europe, you can get a ton of value from this excellent sign-up bonus.
How to Maximize Your Rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2021, including those best for:
Flexibility, point transfers and a large bonus: Chase Sapphire Preferred® Card
No annual fee: Bank of America® Travel Rewards credit card
Flat-rate travel rewards: Capital One Venture Rewards Credit Card
Bonus travel rewards and high-end perks: Chase Sapphire Reserve®
Luxury perks: The Platinum Card® from American Express
Business travelers: Ink Business Preferred® Credit Card