Chase Sapphire Preferred 60K Points + $300 Travel Credit Bonus

Link: Apply now for the Chase Sapphire Preferred® Card with a limited time offer

The Chase Sapphire Preferred® Card is regarded as one of the most lucrative credit cards out there. Several weeks ago, we saw an excellent new welcome offer rolled out on this card.

While we’ve known this offer would end soon, we didn’t know the date it would be pulled. There’s now an update — I’m told it will end on Thursday, November 14, 2024, so if you’re interested in applying, now would be the time to do so.

Chase Sapphire Preferred limited time bonus details

For applications through November 14, 2024, the Chase Sapphire Preferred has a limited time two-part welcome offer. You can earn 60,000 Ultimate Rewards points after spending $4,000 within the first three months, and on top of that, you can get up to $300 in statement credits on Chase Travel purchases within the first year.

Assuming you have this card, Ultimate Rewards points can be redeemed for a minimum of 1.25 cents each toward travel through the Chase Travel Portal, meaning 60,000 points will get you at least $750 in travel. However, thanks to the other ways to redeem them, I value Ultimate Rewards points at 1.7 cents each, so to me, those points are worth ~$1,020.

On top of that, the up to $300 in statement credits couldn’t be much easier to unlock. You can book travel through the Chase Travel Portal, and then your first $300 will be reimbursed in the form of statement credits. This could be as simple as booking $300 worth of flights.

Based on my valuation of points, I’d say this bonus is worth around $1,320, including the statement credits.

Who is eligible for the Chase Sapphire Preferred bonus?

You can be approved for the Chase Sapphire Preferred if:

• You don’t currently have a Chase Sapphire card (Preferred or Reserve)
• You haven’t received a new cardmember bonus on a Chase Sapphire card (Preferred or Reserve) in the past 48 months

Note that this is based on whether you’re the primary cardmember on one of these cards — if you’re currently an authorized user (or have been one in the past), you’d be eligible. Also keep in mind the general rules of applying for Chase cards, including the 5/24 rule (though there are increasingly reports of people being approved in spite of being over the 5/24 limit).

See this post for more details on eligibility requirements for the Sapphire Preferred.

Why the Chase Sapphire Preferred is worth it

The $95 annual fee Chase Sapphire Preferred is one of the most well-rounded mid-range cards out there. The card has the following perks, among other things:

• The Sapphire Preferred has an amazing rewards structure — earn 5x points on travel booked through the Chase Travel Portal, 3x points on dining, streaming services, and online grocery store purchases (excluding Target, Walmart, and wholesale clubs), 2x points on travel purchases, and 1x points on all other purchases
• The Sapphire Preferred has great travel protection, including for delayed flights, lost bags, rental cars, and more
• The Sapphire Preferred acts as a good “hub” card for Chase Ultimate Rewards, and lets you maximize the other cards in the portfolio
• The Sapphire Preferred offers flexible points that can be transferred to a Chase Ultimate Rewards airline or hotel partner, or can be redeemed at 1.25 cents each toward a travel purchase
• The Sapphire Preferred offers a $50 hotel credit every cardmember year, usable through the Chase Travel Portal

Read a full review of the Chase Sapphire Preferred here.

Bottom line

The Chase Sapphire Preferred is offering a huge welcome bonus of 60,000 Ultimate Rewards points plus up to $300 in travel credits on Chase Travel Portal purchases, upon completing minimum spending. This is a phenomenal bonus that will get you at least $1,050 worth of travel, though potentially much more than that, thanks to Chase’s travel partners.

In my opinion this is the most well-rounded mid-range credit card out there, and this is the perfect time to apply. If you’ve been considering picking up this card, the offer will be ending soon, on November 14, 2024.

Do you plan on picking up the Chase Sapphire Preferred with 60K bonus points plus up to $300 in statement credits?