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Note: This post was updated after a promotional offer expired.
The Chase Sapphire Preferred® Card now offers new applicants 60,000 bonus Chase Ultimate Rewards® points after you spend $4,000 on eligible purchases within three (3) months of being approved for card membership.
“Big Deal! I Already Have the Chase Sapphire Reserve®!”
Hold on there, sailor. I get you. Welcome to my family.
But let’s think outside the box ship.
If you have a regular-ish travel companion (spouse, significant other, close friend, family member, etc.) who doesn’t have a Chase Sapphire card, here’s where things could get interesting.
Remember that Chase Sapphire Reserve cardholders can redeem points through Chase Ultimate Rewards travel at a rate of 1.5 cents per point.
Those 60,000 bonus points alone suddenly become potentially worth at least $750 in revenue/paid travel. How? Let’s say your travel companion gets the Chase Sapphire Preferred® CardChase Sapphire Preferred® Card and knocks out the minimum spending requirement. They can then transfer those 60,000 points (on top of everything else they earned while spending the $4,000) to your account.
You can redeem those points toward travel — say, for a cruise — through Chase Ultimate Rewards travel. Sounds pretty fun, right?
Or, transfer those points to one of Chase’s travel partners for award airline tickets or hotel rooms.
- Aer Lingus AerClub
- Aeroplan
- British Airways Executive Club
- Emirates Skywards®
- Flying Blue (Air France-KLM)
- Iberia Plus
- JetBlue TrueBlue
- Singapore Airlines KrisFlyer
- Southwest Airlines Rapid Rewards®
- United MileagePlus®
- Virgin Atlantic Flying Club
- IHG® One Rewards
- Marriott Bonvoy™
- World of Hyatt®
Other CSP Features and Benefits
Here’s a quick rundown of the Chase Sapphire Preferred® Card‘s features and points earnings.
Redeem Points at a 25% Bonus
Points are worth 25% more when using them to purchase travel through Chase Ultimate Rewards’ travel service. For example, 50,000 points ($500) suddenly become worth up to $625 in travel.
10% Anniversary Bonus
Cardmembers earn bonus points equal to 10% of their total purchases made the previous year on the card.
$50 Annual Credit on Hotel Stays Purchased Through Ultimate Rewards
Chase Sapphire Preferred® Card members can earn up to $50 in statement credits each year when booking hotel reservations through Chase’s Ultimate Rewards travel portal. Remember that’s an online travel agency, so you likely won’t receive any elite benefits or earn elite points. (But, hey, $50 is $50!)
- 5X: Travel Purchases Through Chase Ultimate Rewards
- 5X: Lyft Rides (through March 2025)
- 3X: Dining
- Including eligible delivery services, takeout, and dining out.
- 3X: Select Streaming Services
- Some eligible “select streaming services” include Apple Music; Disney+; ESPN+; Fubo TV; Hulu; Netflix, Pandora; Sling; SiriusXM; Spotify; Vudu; and YouTube TV.
- 3X: Online Grocery Purchases
- Excludes Target, Walmart, and wholesale clubs
- 2X: Other Travel Purchases
- Examples include airlines, hotel room purchases made directly through hotels or online travel agencies, parking, tolls, etc.
The card carries a $95 annual fee. But that’s nothing compared to the bonus point offer. That alone is several years’ worth of the annual fee — before any point redemptions.
Time to Set Sail!
The Chase Sapphire Preferred® Card features one of its most significant welcome offers: earn 60,000 bonus Chase Ultimate Rewards® points after you spend $4,000 on eligible purchases within three (3) months of being approved for card membership.
Advertiser Disclosure: Frequent Floaters is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. Some or all of the card offers that appear on the website are from advertisers. Compensation may impact how and where card products appear on the site. This site does not include all card companies or all available card offers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed, or approved by any of these entities.
Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
