You may have heard, Chase is currently offering a monster, limited-time bonus on its popular *chase sapphire preferred*. For a few more days, you can earn 100,000 points after spending $5,000 in the first three months.
Let me repeat, you can currently earn 100,000 points – worth a minimum of $1,250 for travel – for spending $5,000 in three months. That minimum spending requirement isn't nothing … far from it. But if you can do it responsibly (this part is key), there's no easier way to earn a big stash of points to fund your future travels.
Not into travel? Well, that's a bummer … but this card is still worth your attention! While Chase points are most valuable when redeemed for flights, hotels, rental cars, and more through Chase Travel℠ – or by leveraging one of the bank's more than a dozen transfer partners – this offer can also be redeemed for $1,000 cash straight to your bank account.
Best of all, the card's modest $95 annual fee is much easier to swallow for those weary of a big out-of-pocket cost, and that alone makes it an offer nearly everyone should consider. There's no telling if (or when) we'll ever see an offer like this again. If you've been on the fence about applying, now is the time to act: This limited-time offer ends Thursday, May 15, at 9 a.m. EST!
Here's why we're so excited about this offer and what makes it a “can't miss” opportunity for nearly anyone who's eligible.
Learn more about the *csp*.
Big Bonus, Low Fee = Huge Value
It's hard to overstate just how special this 100,000-point bonus is. Considering Chase points can easily be redeemed for a variety of third-party gift cards or better yet, cashed out a rate of one cent each, this 100,000-point bonus is worth a bare minimum of $1,000 in cold hard cash!
Handing someone $95 in exchange for $1,000 is a deal I'd take every day of the week – and twice on Sundays! Admittedly, it's not nearly as simple as that, though…
In order to earn the card's 100,000-point bonus, you'll have to spend $5,000 in the first three months … and that's not a small amount. However, there are some creative ways to hit that amount without spending irresponsibly. You could use it to pay your taxes, pre-pay insurance and utilities, or even add an authorized user to double your purchasing power.
If the business you're shopping at doesn't regularly take cards, they might be able to – and even if they charge a small processing fee, it could be worth it to help you meet the card's minimum spending requirement and earn that big bonus.
But you can get far more value out of those points by using them for travel, instead. This simplest way to do this is by booking flights, hotels, rental cars, and more directly through Chase's online travel portal. When you do, every point is worth 1.25 cents each, netting you a minimum of $1,250 worth of vacation.
As an example, here’s a recent deal we sent to our Thrifty Traveler Premium subscribers for flights to beautiful Banff National Park in Alberta, Canada. You could fly to Calgary (YYC), just an hour away, for under $200 roundtrip this spring and summer – peak travel season!
Booking this flight with bonus points from your Chase Sapphire Preferred? It would cost you less than 13,000 points.
At that rate, you could fly the whole family to Canada and have points leftover to put towards a hotel and rental car. A summer getaway in the Canadian Rockies for just $95 out of pocket? Sign me up!
But that's not all: Chase Ultimate Rewards can also be transferred to nearly a dozen airline partners and a trio of hotel programs for even greater value.
Take this first class flight on a world class airline like Emirates for example. While you can, of course, fly one of the airline's many routes between North America and Dubai (DXB), that'll cost you close to 150,000 points each way … plus north of $800 in taxes and fees.
Instead, check out the airline's funky fifth-freedom routes to Europe – especially between New York City (JFK) and Milan (MXP), where the airline operates one of its signature, double-decker Airbus A380s. First Class on that route will set you back just 102,000 Emirates Skywards miles and $100 or so in taxes and fees.
After spending the $5,000 it takes to earn this big 100,000-point bonus, you'll have at least 105,000 Chase points at your disposal. Send 102,000 points straight to Emirates and take a shower at 35,000 feet. That's the type of experience that money can't buy! Well, it can, but it would take an awful lot of it … think $10,000 or more.
And then there's the Sapphire Preferred's annual fee. While the 100,000-point bonus is no doubt the star of the show, its modest $95 annual fee isn't a bad supporting character. That combination of factors makes this bonus offer one you can't ignore.
This Doesn't Happen Every Day (or Year!)
There are “limited-time” offers and then there's this limited-time offer. While we regularly see six-figure bonuses on co-branded airline and hotel cards, it's practically unheard of on a card like the Sapphire Preferred.
The last time we saw Chase offer a bonus this big was four years ago – and honestly, we were sure we'd never see it again. Considering the standard bonus on this card is just 60,000 points (with a slightly lower spending requirement), we're more than happy to be wrong!
We're so shocked excited, in fact, that every single member of the Thrifty Traveler team that's eligible is taking advantage, before it's too late … including yours truly.
Now, I've had the Sapphire Preferred before, but it's been more than four years since I earned a bonus … and that makes me eligible for another go around. With 100,000 points on the line, I jumped at the chance to get it again and was instantly approved.
Does that mean you should, too? Of course, not. But it ought to tell you just how valuable (and rare) this offer is.
Because I downgraded my Sapphire Preferred to a no-annual-fee *chase freedom unlimited* a few years ago, I didn't need to jump through any extra hoops before reapplying. If you're considering a similar move, but still have the card, you'll need to do the same before getting it again. Recent data points show you can reapply as soon as two days after downgrading, so time is of the essence.
Bottom Line
Whether you're just getting started with travel, an old pro who's seen and done it all, or even if you never plan to step foot on an airplane, the Chase Sapphire Preferred's current 100,000-point bonus is worth your attention. After completing the card's $5,000 minimum spending requirement, you can turn that big bonus into $1,000 cash, $1,250 worth of travel, or even redeem the points for a first class flight that typically costs $10,000 or more!
No matter how you plan to use the points, you'll need to hurry: This limited-time offer ends Thursday, May 15, at 9 a.m. EST!
Learn more about the *csp*.
