One of my favorite credit cards of all time is the Chase Sapphire Preferred which is now offering 60,000 bonus points to new applicants who spend $4,000 within three months of account opening. That's worth $750 in travel rewards!
It also offers another 5,000 points when you add an authorized cardholder on your account who makes a purchase within the same three months.
As a credit card expert, I can tell you this combined offer is very generous.
But even without its outstanding bonus offer, the Chase Sapphire Preferred is a great card to consider since you can earn 2 points per dollar on all dining and travel purchases, and one point per dollar spent elsewhere.
Earned points can be found in the Chase Ultimate Rewards program and can be redeemed for 1.25 cents each toward travel reservations made through their travel center or transferred to airline and hotel partners.
Earn As Many Points As Possible
By the time you reach the $4,000 minimum spending requirement, you'll have earned at least 64,000 bonus points, and that's before any bonus spending on travel and dining (2x points per dollar on travel/dining).
To maximize points, you can add someone as an additional cardholder to earn the other 5,000 bonus points, at no additional cost to you.
So when all is said and done with your earned bonus points, you could end up with about 69,000 points within the first 3-4 months.
How to Maximize Points Earned With Your Sapphire Preferred Sign-up Bonus
1. Buy $750 worth of travel reservations
The easiest way to spend these points is to go to the Chase Ultimate Rewards travel portal and just book something.
60,000 points are worth around $750 worth of travel when booked through the Chase Ultimate Rewards Portal. Options include airfare, hotel, rental cars, and various activities.
For example, stay at the 5-star rated Loews Regency hotel for a weekend (2 nights) in New York City for just 57,476 points total.
That's less than the 60,000 points you have, and it includes all taxes and fees. That is already worth the $95 annual fee for the card!
Once I redeemed my Ultimate Rewards points for a submarine ride in Hawaii, and another time I splurged on a luxury rental car in Lake Tahoe and ended up in a Volvo SUV rather than the econobox I normally get.
Plus, when you redeem your points for airfare, you also earn miles from the flight and are still eligible to receive upgrades.
2. Book (almost) 4 round-trip flights
The way I unlock the most value from my Ultimate Rewards points is through transferring them 1:1 to other Chase airline partners. Check out the list below:
Simply go to the Chase Ultimate Rewards portal and click "Transfer to Travel Partners" at the bottom of your screen or from the navigation.
Of these, one of my favorites is British Airways (aka BA), which offers distance-based awards that can be surprisingly cheap.
For instance, one-way flights (of less than 1,150 miles) on BA or any of their partners such as American Airlines and Alaska Airlines is just 7,500 points.
For 7,500 points, you can usually find one-way flights between cities like as New York and Miami or between Chicago and Denver.
Or you could transfer 60,000 points to British Airways and receive a round-trip ticket for you, your significant other, and treat another couple. And if you do that, let's just say that drinks are on the other couple for that trip!
3. Stay in a tropical resort or swanky hotel for a weekend
As a Chase Sapphire Preferred cardholder, you also can access Chase's 1:1 hotel transfer partners who each have their own outstanding point redemption opportunities.
For example, transfer your points to the World of Hyatt program, and you can redeem them for some amazing properties.
For 25,000 points per night, you can stay two nights in a ridiculously swanky hotel. For example, I've redeemed my Hyatt points to stay at the Andaz 5th Avenue in New York, and the Grand Hyatt Kauai Resort in Hawaii.
Or if you want to island hop, stay at the Andaz Maui like Mona and her family.
60,000 points could also get you two (or more) nights at the Hyatt Ziva Cancun, which is an all-inclusive resort.
I've also stayed at the spectacular Park Hyatt Buenos Aires for just 20,000 points per night, which is the same price as an award night at the Mirage hotel in Las Vegas, the Grand Hyatt at Baha Mar in the Bahamas, or the Hyatt Chicago Miracle Mile.
I know that's might seem overwhelming, but the takeaway is that there are a lot of options!
Best of all, Hyatt guarantees you can redeem your points for any unsold standard room. So if you book early enough, you can redeem an award night for New Year's Eve, Superbowl weekend, or during some other big event when hotel prices double – or even triple – in price.
4. Fly to Hawaii
Speaking of Hawaii, you can redeem 25,000 Ultimate Rewards points for a ticket to this dream destination.
If you live on the West Coast, you can transfer points to British Airways, and then redeem them for flights of under 3,000 miles.
This includes flights to Hawaii on their partners American and Alaska Airlines from anywhere on the west coast including L.A., San Francisco, Seattle, Phoenix, and even Anchorage Alaska.
5. Singapore Airlines First Class Suite
Perhaps the greatest experience you can have on a commercial airliner is in the Singapore Airlines First Class Suite.
Not only is Singapore Airlines known for having the best service in the world (even their economy class is light years ahead of anything offered by a US airline), but they have a special version of first-class that has its own private suite (with a door!).
Amenities include a spectacular array of fine dining that you can book in advance, a 23-inch wide LCD screen, and of course, a seat that turns into a full sized single bed. Book two adjoining suites, and they will combine it into a double bed!
Singapore Airlines is a transfer partner of Chase Ultimate Rewards, and for about 57,400 miles (and about $230 in taxes and fees), you can reserve a suite on their Airbus A380 superjumbo flight between New York-JFK and Frankfurt Germany, but just one way.
This is also the same price for a one-way ticket on their longer flights between Houston and Manchester, although it only features their regular first class seat, (which is about the size of your typical palace throne), and also turns into a bed.
The Bottom Line
It's simply amazing to me that credit card issuers will offer you tens of thousands of points, easily worth hundreds if not thousands of dollars in free travel, just for giving their products a try and meeting the minimum spending requirements of the offer. Plus additional points for dining and travel? You can always count me in.
Disclaimer: This content and the opinions expressed here are the author’s alone and have not been provided, commissioned, or endorsed by the credit card issuer. All information was accurate at the time of this post but card terms and conditions may change at any time. Rewards redemptions examples subject to availability.