The Chase Sapphire Preferred has one of the most flexible rewards programs on the market, and now it’s a little more valuable for new cardholders.
The sign-up bonus for the Chase Sapphire Preferred has increased to 60,000 points after you spend $4,000 in the first three months. It was previously a 50,000 point sign-up offer. With the card’s 25% value boost when you use points to book travel through Chase Ultimate Rewards, the bonus is now worth $750 instead of $625.
At the same time, the card’s $95 annual fee is no longer waived the first year. So instead of an effective $125 increase in value, you’ll get just a net $30 increase.
Keep in mind, though, that if you transfer your points to one of Chase’s airline or hotel transfer partners, you may be able to get even more value out of them than the standard 1.25 cents apiece when booking travel through Chase.
If you’re savvy enough, you’ll get far more than a $30 increase in value by using your points in this way.
How the card stacks up against the Chase Sapphire Reserve
The new bonus for the Chase Sapphire Preferred is now slightly higher than that of the Chase Sapphire Reserve in terms of point total. But from a value standpoint, they’re now worth the same when you use your points to book travel with Chase.
With the Chase Sapphire Reserve’s annual fee of $450, the Chase Sapphire Preferred may sound like a bargain at a $95 annual fee. But if you’re a frequent traveler, it’s also important to consider the Chase Sapphire Reserve card’s luxury travel perks that add far more value than you could get with its sister card.
As you consider which of the two cards are right for you, consider how often you would use the benefits of each card, then compare the value you’d get to the cards’ annual fees. In the right situation, you may get far more value out of the more expensive card, even after spending hundreds of dollars a year to have it.
Be sure to consider each option and choose the card that best fits your travel lifestyle.