New Chase Sapphire Preferred Card bonus worth over $1,000 toward travel #CashNews.co

Chase just announced a new welcome bonus for the Chase Sapphire Preferred® Card — and it’s one of the most valuable offers we’ve seen this card offer new cardmembers.

You can now earn 60,000 bonus points when you open a Chase Sapphire Preferred Card and spend at least $4,000 within the first three months, plus up to $300 in travel statement credits toward Chase Travel℠ spending in your first year.

Here’s more about the limited-time offer and how to decide if this travel credit card is right for you.

For a limited time, you’ll get a two-part welcome bonus offer when you open a new Chase Sapphire Preferred Card:

• 60,000 bonus points when you spend at least $4,000 within the first three months AND

• $300 in statement credits toward Chase Travel purchases you make within your first year

Altogether, this offer is worth up to $1,050 in value toward future travel when you redeem your rewards travel through Chase Travel.

The points you earn with your Chase Sapphire Preferred get a 25% boost on Chase Travel redemptions. In other words, each point is worth 1.25 cents instead of the standard 1 cent per point. That means you’ll get $750 in value when you redeem your 60,000 bonus points for travel using Chase’s travel portal.

Because the additional $300 is a travel statement credit rather than points, you won’t get the same boost — but it still increases your overall welcome offer value from $750 to $1,050.

Don’t forget about the points you’ll also earn when you spend the $4,000 required to earn the bonus. Even if none of your purchases fall into the Sapphire Preferred’s bonus categories, you could earn another 4,000 points. Combined with your 60,000 bonus points, those 64,000 total points are worth $800 total when you redeem them through Chase Travel with the 25% boost.

When you add that to the $300 travel credit, you could get a total of $1,100 toward future travel with your new Chase Sapphire Preferred.

Read our full review of the Chase Sapphire Preferred Card

In addition to the new Chase Sapphire Preferred welcome offer, you can get even more value for a limited time on your Chase Travel bookings. Through January 2025, Chase is offering two different savings options for eligible cardholders — including existing cardholders — who book through Chase Travel.

If you’ve never used Chase Travel before, you can get up to 20,000 bonus points the first time you book (and spend a minimum of $500). Depending on the type of travel you book, you’ll earn either:

• 20,000 bonus points when you purchase a hotel stay OR

• 10,000 bonus points when you purchase a flight, rental car, cruise, and more

If you have booked with Chase Travel in the past, you can still earn a bonus (with a minimum spend of $400):

To earn any of these bonuses, you’ll need to have an eligible Chase card, activate the offer, and book by Jan. 31, 2025. You’ll also need to go on your trip by Aug. 31, 2025.

Remember, these offers are available for existing cardholders, not just new cardmembers. Eligible cards include: Chase Freedom Unlimited®, Chase Freedom Flex®, Chase Freedom Rise℠, Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, Chase Ink Business Cash® Credit Card, Chase Ink Business Preferred® Credit Card, Chase Ink Business Unlimited® Credit Card, and more.

If you’re looking for a great travel credit card with a reasonable annual fee, the Chase Sapphire Preferred should definitely be on your radar. In addition to the incredibly valuable limited-time welcome bonus, this card has plenty to offer travelers over the long term.

To start, you’ll earn great rewards toward upcoming trips even while you’re at home. With bonus rewards on dining, online groceries, and select streaming services, you can rack up points on everyday purchases when you’re not traveling. But you’ll also benefit when you book airfare, hotel stays, rental cars, and more with bonus points on travel via Chase Travel and beyond.

Chase Sapphire Preferred’s annual benefits also help you earn back the $95 annual fee year after year.

Each account anniversary, you’ll get a points bonus equal to 10% of your total purchases in the prior year — so if you spend $12,000 on your card in a year, you’ll get 1,200 bonus points in addition to the points you’ve already earned. You’ll also get a complimentary DashPass subscription for 12 months and, as a DashPass member, up to $10 off per month on non-restaurant orders through DoorDash. And now through March 2025, earn 5x points on Lyft rides.

But as much as we like the Chase Sapphire Preferred Card, it may not be for everyone.

This is a travel credit card — and you should travel at least a few times per year to take full advantage of its perks and benefits. While you can redeem your points for statement credits or gift cards, for example, you’ll get the best value when you redeem them with the 25% boost through Chase Travel or transfer to Chase’s airline and hotel partners. If you prefer cash redemptions, you may be better off with a cash-back credit card.

Read more: Which card is best for me? A guide to help you choose.

On the other hand, if you travel very frequently, you might get more from a more premium travel credit card like the Chase Sapphire Reserve®. It has a higher annual fee, but comes with more benefits, an annual $300 travel credit, and 50% points boost when you redeem through Chase Travel. Depending on your spending and how often you travel, the Chase Sapphire Reserve could be an even better option (even if you won’t get the same limited-time welcome offer).

More resources:

This article was edited by Rebecca McCracken

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