The Chase Sapphire Preferred® Card has enhanced their offer were you will earn 60,000 points after $4,000 spend within the first three months. This is 10,000 points more than their typical offer, which is worth a minimum of $100! Although if you are able to use your points more strategically, I would place a $200 valuation on this.
The Chase Sapphire Preferred® Card is not linked to a specific airline or hotel, therefore, gives you the flexibility to use the points earned in a number of ways. This is a great card for the traveler who does not want to tie themselves to a specific chain and wants the freedom to travel at will.
The points earned can be redeemed in a variety of ways:
- Transferring to a partner airline/hotel: You can transfer your Chase points at a 1:1 ratio to United, British Airways, Singapore Airlines, Air France KLM, Southwest Airlines, Virgin Atlantic, Iberia, Aer Lingus, Hyatt, IHG, Marriott. I personally value 50,000 points at a minimum of $1,000.
- Pay for travel: You can use your points to redeem free travel with their travel booking services. This allows you to pay for anything travel related (car rental, cruises, etc.). There are no black out dates and you can earn frequent flyer points for the selected travel reward program. For preferred card holders (which this card is), you will get a 25% bump when redeeming in this type of travel. Therefore, 1 point = 1.25 cent towards the purchase of your travel. This means that 60,000 points is equal to a cut and dry $750. This works similar to American Express’s Membership Rewards travel services.
- Cash Back: Instead of redeeming for travel, you can use your points to receive cash back. 1 point = 1 cent cash back. The 60,000 points will then equal $600. Not the best redemption, but it is the minimum you will receive.
- Gift Cards/Entertainment: Again, not a great redemption ratio, but you can redeem your points for various gift cards or entertainment opportunities. The value of the 60,000 points is determined on your selection.
When using the card, you will earn 1 point for every $1 in purchases. Additionally, you will earn double points on all dining in restaurants, airfare, and hotels. The great thing is that points never expire as long as you have the card and their is no cap on the number of points you can earn annually.
Along with the points earned, there are many additional travel benefits that come along with the card
- Travel Insurance – When making travel purchase with this card you will receive: trip cancellation insurance, auto rental collision damage, travel accident insurance, and lost luggage reimbursement
- No Foreign Transaction Fees – With the preferred card there are no transaction fees when using your card internationally. This is a huge benefit as some cards charge up to 3% in fees.
You can learn more about this card as well as the Chase Ultimate Rewards program in this prior blog series:
- Introduction to Chase Ultimate Rewards Program
- Maximizing Chase Ultimate Rewards with Chase Freedom
- Downgrading your Chase Ultimate Rewards Card to Avoid the Annual Fee
- Best Redemption for Chase Ultimate Reward Points – Hotel Stays
- Best Redemption for Chase Ultimate Reward Points – Air Travel
- Chase Sapphire Preferred vs. Chase Sapphire
- Top 10 Chase Ultimate Reward Questions
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