Chase is currently offering a promotion of 50,000 Bonus Points for their Sapphire Preferred Credit Card when you spend $4,000 in the first three months of account opening.
The first year of the card has no annual fee, then $95 per year after. You are eligible for this promotion if you haven’t had any Sapphire card in the last 24 months.
50,000 Bonus Points = $625 in Airfare or Hotels through Chase Ultimate Rewards or $500 in Cash
Additional 5,000 Bonus Points if you add an Authorized User and make a purchase in the first 3 months from account opening.
Card Benefits and Features
- Travel Purchases: 2x points on travel (airfare, hotels, cruises, trains, taxis, etc)
- Restaurant Purchases: 2x points on dining worldwide
- Other Purchases: 1x points on all other purchases
- $0 Foreign Transaction Fees
- Transfer Points at 1 to 1 value at participating frequent traveler programs
- Primary coverage for Auto Rental Collision Damage Waiver (CDW)
- Trip Cancellation / Trip Interruption Insurance
- $0 Annual Fee 1st year, then $95
This card has a generous bonus offer of 50,000 points that you can stretch by using Chase Ultimate Rewards or you can simply convert it to cash for an easy tax free $500.
The Chase Sapphire Preferred is a good alternative to my favorite travel credit card, the Bank of America Travel Rewards card. The Bank of America card has a bonus offer of only 20,000 points after $1,000 in purchases within 90 days of account opening.
However the Bank of America card has a higher maximum of 2.625x Bonus Points on all purchases for Platinum Honors members and no annual fee after the first year.
If you haven’t had the Chase Sapphire Preferred card in the last 24 months and you don’t want to pay an annual fee, you can sign up for the card, get the bonus, and then cancel before the first year is up. This will only minimally affect your credit score.