Have you ever heard of the Chase Sapphire Preferred credit card? If you haven’t, it’s time to get on board as there are fantastic rewards waiting for you. The card gives you a chance to earn 60,000 bonus points that you can redeem for worthy prizes and rewards.
However, there’s a condition to receive your bonus points – you have to be a new user and open a new account to get your card. If you make $4,000 in purchases within the first 3 months of using the card, you become eligible for earning these redeemable bonus points. Use your points to redeem them for cruises, cars, rentals, hotels, and airfare through the Chase Ultimate Rewards Program.
There’s an advantage to becoming a new cardholder – you won’t have to pay the $95 annual fee for the first year. Let’s delve deeper into the details of this great promotion for the Chase Sapphire Preferred card.
The Value of a Chase Sapphire Preferred Credit Card
To earn 60,000 bonus points, you need to sign up for a new card membership via the Chase Sapphire Preferred credit card website. The only condition to receive your redeemable bonus points is to spend $4,000 on purchases within the first 3 months.
The bonus points are redeemable for 750$ that you can use toward valuable benefits and rewards from the Chase Ultimate Rewards Program. Choose from available rewards options, with the most popular one being free travel.
Moreover, you can also redeem your bonus points for a variety of gift card rewards. If you choose to redeem your points through the Chase Ultimate Rewards, you can earn 25% more value for redeeming your bonus points for cruises, car rentals, hotels, and airfare.
The program makes your 60,000 bonus points worth $750. Your points never expire, and there are no blackout dates or travel restrictions. Use your points to fly on top airlines anytime you want. There’s an option to increase the worth of your bonus points by transferring them to one of Chase’s partners and receive $1,200 for your points.
To make things even better, The Chase Sapphire Preferred credit card also allows you to amass your points from other Chase cards with Ultimate rewards like Ink Business, Chase Sapphire Reserve, and Chase Freedom Unlimited. Earn more rewards fast across a range of purchase categories.
Benefits of Signing Up for a New Chase Sapphire Preferred Credit Card
The moment you sign up for a new Chase Sapphire Preferred credit card, you become eligible for receiving the Chase Sapphire Preferred sign-up bonus. The bonus allows you to earn 60,000 bonus points that you can redeem for $750-$1200, depending on how you redeem them.
To receive your sign-up bonus, you’ll need to spend $4,000 on purchases in the 3-month period after opening an account. There are numerous benefits in store for you if you manage to meet the spending requirement.
If you choose to redeem your points through the Chase Ultimate Rewards program, you can choose from three different options that include travel, gift cards, and cash back.
The latter two options value your points at 1%, meaning you only get $600 for the 60K bonus points. The first option, booking travel, includes hotels, cruises, car rentals, and airfare. It adds 25% more to the value of your points, allowing you to get $750 worth of travel for your sign-up bonus.
If you’re a frequent diner and traveler, this bonus is a worthy benefit that can allow you to save some money with each purchase you make with the Chase Sapphire Preferred credit card. The card allows you to earn 2 points per dollar spent.
However, keep in mind that all other purchases you make outside of the booking travel category will only be worth 1 point per dollar. The travel category includes parking, toll bridges and highways, ferries, limos, passenger trains, taxis, buses, discount travel sites, campgrounds, travel agencies, cruise lines, car rental agencies, motels, hotels, and airlines.
There’s also the dining category that includes casual and fine dining locations. While there are other cards that also allow you to earn bonus points, only the Sapphire Preferred card allows you to earn 25% more value on travel.
Finally, one of the biggest benefits of signing up for a new Sapphire Preferred credit card is the ability to transfer your bonus points over to partner hotel and airline loyalty programs and get the most awesome 1:1 rate for it. Earn up to 2 cents per point by leveraging these benefits.
How to Receive the Chase Sapphire Preferred Credit Card Sign Up Bonus
There is a spending requirement that allows you to become eligible for the signup bonus. To earn the bonus, you’ll need to make purchases amounting to $4,000 in the first three months from the account opening. While we’re fully aware of this amount being a bit steep, the benefits and other rewards make it worth it.
If you’re wondering how to meet these requirements without breaking your budget, we can give you a couple of tips.
Use Plastiq to pay for your personal expenses such as auto lease, mortgage, tuition, rent, and so on, and contribute to receiving your sign-up bonus. Using Plastiq exposes you to a 2.5% processing fee, but this expense helps you get a sign-up bonus. It also includes a referral program that allows you to earn some Free-Free Dollars.
Funding checking accounts
The most common way of funding an initial deposit for a checking account is with your credit card. However, you can earn more benefits if you sign up for a checking account with a sign-up bonus. Instead of only earning one signup bonus, you get a chance to earn two.
Gift card purchases
If you purchase a gift card with your credit card, you earn a chance to acquire the bonus. The majority of gift cards and individual merchant cards don’t include purchase fees and can be used for leisure.
Benefits of Referring Others to Chase Sapphire Preferred Credit Card
Aside from the Chase Sapphire Preferred sign-up bonus, there’s another option that allows you to earn some benefits – the Chase Sapphire Preferred Referral program. The program will enable you to earn a credit card referral bonus by referring your friends.
If they get the card, you earn a referral bonus, as well as numerous other rewards that include:
- Up to $500 cash back annually – $100 cash back for each referral resulting in someone getting a Chase Freedom credit card.
- Up to 75,000 bonus points annually – 15,000 bonus points per referral that result in getting the Chase Sapphire Preferred credit card.
- Up to 50,000 bonus points annually – 10,000 points for each referral that leads to getting the Southwest Rapid Rewards credit card.
- Up to 50,000 bonus miles annually – 10,000 bonus miles for each referral that leads to getting any United MileagePlus card.
- Up to 50,000 Bonus Avios annually – 10,000 Bonus Avios for referring friends who get the British Airways Visa Signature card.
- Up to 100K bonus points annually – 20K bonus points for each referred friend who gets any Marriott Bonvoy credit card.
- Up to 25,000 bonus points annually – 5,000 bonus points for each referred friend who gets the World of Hyatt card.
- Up to 500 Disney Reward Dollars annually – get 100 per each of the five referred friends who get any Disney Visa card.
- Up to 50K bonus points annually – 10,000 bonus points for each referred friend who gets an IHG Rewards Club credit card.
- Up to 100K points annually – 5x20K bonus points for referring five friends who get any Chase Ink card.
How to Refer Others to Chase Sapphire Preferred Credit Card to Receive the Referral Bonus
Referring a friend to the Chase Sapphire Preferred credit card allows you to receive the referral bonus. Get awesome rewards for inviting your friends and referring them to get their Chase Sapphire Preferred credit cards. The Chase Sapphire Preferred Referral takes only three steps.
To determine if your Sapphire card is eligible for referrals, you need to provide the following information:
- Your name
- ZIP code
- Last four digits of your credit card
If your referred friends manage to get their credit cards, you can earn bonus points and keep referring more friends to earn even more benefits.
The Final Thought
The Chase Sapphire Preferred credit card offers worthy rewards to cardholders. Aside from the outstanding sign-up bonus, the card offers a unique opportunity to earn rewards by referring your friends to get their credit cards.
More importantly, the card doesn’t include any delivery or foreign transaction fees, allows you to earn travel and purchase benefits, redeemable bonus points, and so much more.
Though the annual fee is a bit hefty, and there’s no introductory APR on purchases, the card offers a wide range of benefits, including concierge service, 24/7 customer support, travel insurance, purchase protection, and improved security.
If you’re a frequent diner and traveler, the Chase Sapphire Preferred bonus is an excellent way to redeem your bonus points for excellent rewards.
Be sure to also check out the Chase Freedom Unlimited Credit Card bonus and the Chase Savings and Checking Account referral bonuses.