The Chase Sapphire Preferred has long been a top travel credit card, and as the coronavirus pandemic cools in the United States and the tourism industry heats up, the time may be better than ever for apply. Chase is currently offering their best sign-up bonus on the card: 100,000 points when you meet a minimum spend requirement.
Key points to remember
- Chase has increased the sign-up bonus for the Sapphire Preferred card to encourage new applications.
- New cardholders can earn 100,000 bonus points, the best bonus ever offered by the card.
- But, as with any credit card, consumers should consider their normal spending habits and long-term plans before jumping on a new signup bonus.
How to earn 100,000 Ultimate Rewards points
For a long time, the standard sign-up bonus on Sapphire Preferred was 60,000 points. In May, Chase increased the bonus to 80,000 points and increased it again, this time to 100,000 bonus points.
That’s 67% higher than the standard bonus and, according to a spokesperson for Chase, it’s the highest the card has ever offered.
New cardholders will earn the bonus rewards when they spend $ 4,000 in their first three months with the account.
Points are worth $ 1,250 when redeemed for travel booked through Chase. Alternatively, you can get cash back worth $ 1,000, gift cards, and other redemption options. The bank also has a list of 13 airline and hotel partners to which you can transfer your points for more flexibility in your travel bookings.
Should you apply for the Sapphire Preferred card?
As with any credit card signup bonus, it’s important to consider both your normal spending habits and your long-term plans before applying.
For starters, the card requires you to spend $ 4,000 in the first three months to qualify for the incentive, or roughly $ 1,333 per month. If you can achieve this without changing your spending habits, the card might be worth it. But if you have to spend more than you can afford, the bonus becomes less valuable.
It’s also crucial to consider more than the sign-up offer when considering a new credit card. If you plan to use the card regularly, even after earning the bonus, this might be a good choice. But if you’re just looking for a signup bonus, take the time to shop around for a card that will give you the most rewards and other benefits in the long run.