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Chase Sapphire Preferred card increases bonus to 60,000 points

Chase is no longer waiving the annual fee on the Sapphire Preferred card, but the offer is still more valuable


New Chase Sapphire Preferred cardholders can earn 60,000 bonus points when they spend $4,000 in the first three months.

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Chase has boosted the sign-up bonus for the Chase Sapphire Preferred card by 10,000 points. The updated offer gives new cardholders 60,000 bonus points when they spend $4,000 in the first three months of card membership. The increased bonus does come at a price, though: The $95 annual fee will no longer be waived during the first year.

See the Chase Sapphire Preferred card changes at a glance:

Updated offer Previous offer
Sign-up bonus60,000 points if you spend $4,000 in first 3 months50,000 points if you spend $4,000 in first 3 months
Annual fee$95$95, waived first year

With the changes, is the card still worth it?

One key feature of the Sapphire Preferred card was the fact that it didn’t charge an annual fee during the first year. This allowed cardholders to test out the card for a full year without much commitment – making it an especially great choice for first-time travel rewards cardholders. Now that cardholders will be required to pay $95 every year of card membership, you may be wondering: Is it worth it? We think so.

Despite charging an annual fee the first year of card membership, the updated Chase Sapphire Preferred card still offers a lot of value. In fact, the average consumer who spends $15,900 annually on food, gas, clothing and general purchases can squeeze close to $400 in rewards value from the card every year – more than making up for the $95 annual fee.

Chase Sapphire Preferred Card

Why use it?

The Sapphire Preferred card offers a generous rewards rate on a broad range of travel-related expenses, from airfare and hotels to taxis and trains. Additionally, foodies can earn 2 points per dollar on dining in the U.S. and abroad.

Card details at a glance:

  • 60,000-point sign-up bonus when you spend $4,000 in first 3 months
  • Earn 2 points per dollar on travel and restaurant purchases
  • Earn 1 point per dollar on general purchases
  • 25% bonus when points are redeemed through the Chase Ultimate Rewards portal
  • No foreign transaction fees
  • $95 annual fee
  • Estimated yearly rewards value ($15,900 spend): $397

Plus, when you redeem your points for travel through the Chase Ultimate Rewards portal, you will get a 25 percent boost on your points. We estimate each Sapphire Preferred point to be worth 1 cent – making the 60,000-point sign-up bonus worth approximately $600. If you redeem those same points through Chase’s travel portal, they will be worth $750.

Redemption optionPoint valueValue of 60,000-point sign-up bonus
Ultimate Rewards travel portal1.25 cents$750
Statement credit1 cent$600
Direct deposit1 cent$600
Gift cards1 cent$600 purchases0.8 cent$480
Chase Pay purchases0.8 cent$480

However, if you redeem your points for or Chase Pay purchases, the value decreases slightly.

Earn extra rewards

Along with the Sapphire Preferred card’s sign-up bonus, Chase offers additional ways to earn an influx of Ultimate Rewards in a short period of time. For example, Chase’s “Refer-a-Friend” promotion gives Sapphire cardholders 10,000 points for each person they refer who is approved for the card – up to 50,000 points each year.

Also, Sapphire Preferred cardholders who open or upgrade to a Sapphire Banking account and make $75,000 in qualifying deposits and investments can earn 60,000 bonus points.

Bottom line

If you’re thinking of applying for the Sapphire Preferred card, now is a great time to do so. The Sapphire Preferred card is already a great value for newbie travel cardholders, and the larger sign-up bonus makes the card even more valuable.

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