Published in: Credit Cards | Sept. 15, 2020
By: Lyle Daly
Chase just made one of the most valuable sign-up bonuses on the market even better.
Here's some credit card news that just about no one saw coming: The Chase Sapphire Preferred® Card now has an 80,000-point sign-up bonus. New cardholders can earn the bonus by spending at least $4,000 on the card in the first three months. If you book travel through Chase Ultimate Rewards, those points are worth $1,000.
The previous bonus offer for this card was 60,000 points, with the same spending minimum. That already ranked among the biggest sign-up bonuses, so it's a huge surprise that Chase added another 20,000 Ultimate Rewards points.
This is a limited-time offer without a public end date, so if you're interested, it's a good idea to apply ASAP. Here's how to know if you'll qualify.
You're eligible for the Chase Sapphire Preferred® Card's new sign-up bonus if both of the following are true:
Those are the requirements for the bonus, but of course, you also need to qualify for the credit card itself. For that, you'll likely need a FICO® Score of at least 670. Although it's possible to get the Chase Sapphire Preferred® Card with a lower credit score, most applicants who get approved have good credit.
Another factor that can affect your application is Chase's 5/24 rule. If you've already opened five or more new credit cards in the past 24 months, then Chase could deny your application because of that.
While the sign-up bonus is the biggest perk of the Chase Sapphire Preferred® Card, it also has several other valuable benefits, including:
There is a $95 annual fee for this card.
Chase Ultimate Rewards points are some of the most valuable travel points of any credit card rewards program, and that makes the upgraded bonus even better. There are two ways you can use Ultimate Rewards points for travel:
This is a significant change to the Chase Sapphire Preferred® Card, as the bonus offer had been 60,000 points for years. And with an upgrade like this, it could be also be a sign that Chase is planning on improving the card's benefits even more in the future.
If you meet the requirements for the card and the bonus, then putting in an application for the Chase Sapphire Preferred® Card is highly recommended. Offers this valuable don’t come along often, so when they do, it's smart to take advantage.
As long as you pay them off each month, credit cards are a no-brainer for savvy Americans. They protect against fraud far better than debit cards, help raise your credit score, and can put hundreds (or thousands!) of dollars in rewards back in your pocket each year.
But with so many cards out there, you need to choose wisely. This top-rated card offers the ability to pay 0% interest on purchases until late 2021, has some of the most generous cash back rewards we’ve ever seen (up to 5%!), and somehow still sports a $0 annual fee.
That’s why our expert – who has reviewed hundreds of cards – signed up for this one personally. Click here to get free access to our expert’s top pick.
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