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The biggest news in credit cards this week is the increased bonus offer on the Chase Sapphire Preferred card. This is the #1 card I recommend to newbies who want to start accumulating miles and points for free travel.
Details of the Offer
The Chase Sapphire Preferred (affiliate link) is offering for a limited time an increased bonus of 80,000 Chase Ultimate Rewards points after spending $4000 in the first three months. (The bonus is normally 40k-60k points.) The annual fee of $95 is partially offset by by a $50 grocery credit your first year.
The card earns 2X points on dining and travel and 1X points on all other purchases. The card is subject to Chase’s 5/24 rule. You can’t get the sign-up bonus if you’ve received it on any Chase Sapphire card within the past 48 months (see more info here).
Benefits of the CSP
You can do a lot with 80,000 Chase Ultimate Rewards points! You can redeem the points for travel in the Chase portal at 1.25 cents per point, making the points worth at least $1000 in travel. Or, you could transfer the points to travel partners like Hyatt, Southwest and United. But if cold hard cash is your priority, you can redeem the points for $800.
The Chase Sapphire Preferred offers trip insurance coverage, auto rental collision coverage and lost luggage insurance. The card also comes with a year of DashPass benefits from DoorDash (free delivery for orders over $12). My family has used the DashPass benefit numerous times during the pandemic. Check out 6 Reasons Why We Love the CSP from our partners at Travel Freely.
My husband and I have both had this card, and we are big fans of Chase Ultimate Reward points. I regularly use my points to book flights and stay at Hyatt resorts.
If you haven’t yet had this card, now is a good time to jump on the increased offer!
Nancy lives near Dallas, Texas, with her husband and three kids. Her favorite vacations include the beach, cruising and everything Disney.