Chase Sapphire Preferred Now Offering a 60k Bonus.
The Chase Sapphire Preferred card has long been a premier contributor when it comes to perks and benefits. But, as with many of the credit card offers available today, things are changing. Some changes are good, while others may cause you to consider a different card. Let’s talk about the Chase Preferred changes so you can decide what you think.
Chase Sapphire Preferred Improvements
Probably the biggest change for the Chase Sapphire Preferred card is the increased sign on bonus, from 50K to 60K in points. To get these points, you only have to spend $4k in the first 3 months after opening your account.
Keep in mind that 60K points can be pretty valuable. In fact, these points are basically equivalent to $750 if you use the Chase Portal to make travel arrangements.
With the Chase Sapphire Preferred card, you will still earn 2X Ultimate Rewards points for all purchases in airfare, hotel, cruises, rideshare, and dining of all types.
You will also still earn 1X points for all other purchases. You will be able to convert all of the points to 1.25 points when using the Chase Travel Portal. This can lead to some great travel deals!
What’s the Downside?
Previously, the annual fee of $95 was waived for the first year, but this is sadly coming to an end.
Some may wonder if the Chase Sapphire Preferred card is still worth it (this is a somewhat hefty annual fee), but when you consider the 60K sign on bonus (which, really turns into a potential for an additional 8K in Ultimate Rewards points if you spend the entire $4000 that is required in categories that give you 2X points).
The combination of these two perks will be worth far more than the $95 annual fee. Keep in mind how that bonus inflates even more if you redeem through the Chase Travel portal at 1.25X the UR points.
Remember that you can only have one Chase Sapphire card at a time, and you can’t apply more than once during any 48-month period. You also have to make sure that you don’t open more than 5 credit card accounts within 24 months, or you will get denied.
Is It Worth It?
Most people would probably review this offer and realize that the Chase Sapphire Preferred card is still a high-ranker when comparing credit cards with rewards.
These latest changes offer good and bad changes, but the good still far outweighs the bad and this is still a terrific card for earning points and rewards!