Update: for a limited time the Chase Sapphire Preferred is offering 80,000 Points and $50 as a statement credit for grocery spending. The points are worth at least $1000!
What makes a good credit card offer great? Typically when you can justify the benefits of getting the card at the time of signing up, rather than pushing them off into future hopes.
Chase launched an excellent new bonus with a lot to love this week, including a Ultimate Pewards Points welcome worth $1000 on travel (or more), and $50 back on grocery spending, on a card with massive travel benefits and only a $95 annual fee. It’s worth a peek, if the card has eluded you.
Chase Sapphire Preferred Increased Bonus
The Chase Sapphire Preferred Card is often overlooked, because many of the best benefits aren’t ones you cherish every day, but absolutely do when you travel. And even more when travel doesn’t go as planned.
Like, primary rental car collision coverage, up to $20,000 per trip in travel interruption insurance – including sickness or extreme weather, baggage delay insurance, or price protection on items you buy up to $500. There are more (below).
Chase Sapphire Preferred is offering a bonus of 80,000 Chase Ultimate Rewards after $4,000 in spending within the first 3 months of card membership, and also, a new $50 credit towards grocery spend, in the form of statement credits.
For example, if you buy $60 of groceries, when the transaction hits your account, you’ll receive a statement credit of $50, for a net $10 transaction.
Points And Long Term Benefits
There’s not much to write home about when it comes to Chase Sapphire Preferred points earning rates, though 2x on travel and dining isn’t bad for a $95 fee card. But as noted, the travel benefits really are fantastic, and for $95 a year, they can be worth the peace of mind.
That’s particularly true with the $50 towards grocery spend in the first year, which can offset the first year $95 annual fee, and make getting the card in a year with less travel, less of a fidget. There’s also 5X on all Lyft purchases until March of 2022, unless that’s extended.
Chase Sapphire Preferred 80,000 Point Bonus
The 80,000 Ultimate Rewards Points welcome bonus is very enticing since it represents up to $100 in travel when used as cash via Chase Ultimate Rewards (UR) – aka you can book a $1000 flight or hotel and use points to pay for $1000 of it. You can also book a travel for fewer points, with points left over.
At the very least, it’s effectively $1000 in travel back on just $4,000 of introductory spending. Pay rent, pay bills, pay car insurance and it shouldn’t be hard to get there.
Crucially, you can also transfer these useful points (here’s a guide to maximizing them) for even greater value to airline and hotel partners, at a 1:1 ratio, so you could have 80,000 Points with Hyatt, Emirates, BA, Virgin, United and so forth.
It’s worth breaking down a few of the long term travel benefits which can really represent significant value each year you hold the card, beyond the initial stuff, and are actually why many people keep it…
Trip Interruption Coverage – You can receive up to $10,000 per person or $20,000 per trip when non-refundable travel is cancelled due to severe weather, situations set out by the insurer and notably, sickness. This applies to travel for you and your immediate family, booked with the Chase Sapphire Preferred Card.
Primary Rental Car Collision Coverage – When you rent a car, this is a great savings benefit, where you can waive optional collision damage charges when you pay with the Chase Sapphire Preferred. Card
Baggage Delay Insurance – When a bag is delayed, it’s rarely returned quickly. For delays starting from 6 hours, you can receive reimbursement for up to $100 in travel necessities per day, for up to 5 days. This includes things like toiletries, clothes, and anything else deemed ‘necessity’. If you’ve been there, you know.
Trip Delay Insurance – This one is big, particularly in a world of increasingly crazy weather. If your flight is delayed overnight, or any length more than 12 hours, you can receive up to $500 per day in Trip Delay Insurance, which will reimburse you up to $500 for things like hotel, car rental and any basic meals.
All this from a card with a $95 annual fee shows that while Chase Sapphire Preferred might not win hearts and minds with 5X on mega categories, it’s quite a nice comfort to have. With the increased bonus offer available right now, it’s a great time to add the unique features of this card to any travelers wallet.
Check out the Chase Sapphire Preferred 80,000 Points Welcome Bonus