If you’re looking for a new credit card with a large mile bonus, the Chase Sapphire Preferred card is worth a mention. They’ve upped their offer from 50,000 Ultimate Rewards points to give you great savings on travel with additional miles earned through purchases. Take a look at what this card has to offer the frequent traveler.
Terms of the Card
The Chase Sapphire Preferred card is now giving out 60,000 rewards points when you spend $4,000 in the first three months and an additional 5,000 bonus points when you add an authorized user and make a purchase in that same time period. That adds up to over $800 towards airline tickets if you order directly through the Chase portal, and potentially a lot more if you transfer it to other partners. Even with a $95 annual fee, that’s a whole lot of savings.
With this new deal, that annual fee is not waived the first year, but the additional rewards points are worth at least $125 in points, so it more than makes up for it. You’ll also earn 2x miles on dining and travel expenses and 1x miles on all other purchases. The card will give you Primary Collision Damage Waiver on rental cars as well when you use it to pay the entire cost of the rental.
Things to Remember
Chase’s new rules mean that you can only have one Sapphire card at a time, so if you have the Sapphire Reserve, you won’t be able to get approval for the Preferred card. They also won’t give you the bonus points if you’ve received a sign-up bonus on a Sapphire card in the last 24 months. Being that the Sapphire Reserve card is less than 24 months old, that means even if you’ve closed your Reserve account, you’re not eligible for the points from the Chase Preferred card.
While the Reserve card offers more points on purchases, the Preferred card offers more bonus points at sign-up. It’s a great starter for airline savings, giving you big chunk of credit towards tickets, and you can always upgrade later on.