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Joseph Hostetler
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Joseph Hostetler is a credit cards writer who also covers helpful miles and points tricks. He previously authored and edited for Million Mile Secrets. He most enjoys a vagabonding approach to travel and loves to share any tips he finds along the way to save both points and money. He generally gravitates toward more nature-oriented activities, like climbing the Haiku Stairs in Hawaii, hiking the Salkantay Trek to Machu Picchu, and swimming in Mexican cenotes. You can follow him on Instagram @johostetler.Favorite city: JerusalemWhere to next: Seattle
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Credit card writer Danyal Ahmed is an avid traveler, averaging about 100,000 aeronautical miles per year. He regularly applies that knowledge and his expertise in credit cards to his role as a credit card writer at TPG.
Oct. 16, 2023
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3 min read
Chase Sapphire Preferred: Earn 60,000 of the most valuable bank points
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The Chase Sapphire Preferred Card is one of the best travel credit cards out there. It hits on all cylinders: lucrative earning rates, valuable perks and versatile rewards — all with an affordable annual fee.
You can earn 60,000 Chase Ultimate Rewards points after you spend $4,000 on purchases within the first three months of account opening. TPG estimates the value of Chase Ultimate Rewards points to be 2.05 cents each when you maximize the program's transfer partners, making the 60,000-point bonus worth $1,230. Along with Bilt Rewards, Chase Ultimate Rewards points are the most valuable points of any credit card issuer.
Let's dive into why you should consider adding the card to your wallet.
Why you should apply for the Chase Sapphire Preferred
The Sapphire Preferred is well worth opening, partly because it is easy to rack up points after you've spent the sign-up bonus.
The Chase Sapphire Preferred has several generous bonus-earning categories:
- 5 points per dollar on travel booked through the Chase Ultimate Rewards Travel portal
- 3 points per dollar on dining
- 3 points per dollar on select streaming services
- 3 points per dollar on online groceries (excluding Target, Walmart and wholesale clubs)
- 2 points per dollar on all other travel purchases
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Cardmembers also receive a 10% annual point bonus based on their total spend during the account anniversary year at a rate of 1 point for each $1 spent. So, if you spend $20,000 on the card in a year, you'll get 2,000 extra points at the end of it.
In addition, Chase Ultimate Rewards can transfer to 14 airline or hotel partners, including valuable partners such as Air Canada Aeroplan, Air France-KLM Flying Blue, and World of Hyatt. You can maximize your rewards by booking aspirational business-class tickets or picturesque stays at island resorts for far less than their cash equivalent.
Bottom line
The Chase Sapphire Preferred is one of the top travel rewards credit cards on the market, with travel protections and up to $50 in annual hotel statement credits for hotel purchases made through Chase Ultimate Rewards after each member's anniversary. That covers more than half the card's already reasonable $95 annual fee.
No wonder many TPG staffers continue to carry the Chase Sapphire Preferred year after year. Given its easy-to-understand perks, strong earning rates and the usefulness of Chase Ultimate Rewards points, it probably deserves a place in any traveler's wallet.
Learn more in our full review of the Chase Sapphire Preferred card.
Official application link: Chase Sapphire Preferred with 60,000 bonus points after you spend $4,000 in the first three months
Related Chase Sapphire Preferred stories:
- Who should (and shouldn't) get the Chase Sapphire Preferred?
- Why the Chase Sapphire Preferred should be your first rewards card
- Why you should choose the Chase Sapphire Preferred over the Reserve
- What credit score do you need to be approved for the Chase Sapphire Preferred Card?
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Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
