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There are some credit cards that are no-brainers, particularly, when they have the HIGHEST OFFER EVER attached to them so let’s skip the small talk and dive right in!
THE MOST IMPORTANT DETAILS
Right now, you can now earn 60,000 Chase Ultimate Rewards (UR) points after opening a Chase Sapphire Preferred and spending $4,000 in 3 months. When it’s all said and done, those points are worth a MINIMUM of $750 towards travel (or $600 cash back), but can easily be worth so much more (and I’ll show you how below).
APPLY FOR THE CHASE SAPPHIRE PREFERRED CARD
ANNUAL FEE
There is a $95 annual fee for the primary card and no annual fee for authorized users.
5/24
Currently, this card is subject to 5/24 restrictions. If you’re not familiar with 5/24, click HERE. But as a refresher, it means that you are not likely to be approved for the card if you have been approved for 5 (or more) consumer credit cards in the past 24 months.
It’s worth noting that the Chase computer system will automatically count cards like authorized user cards and store cards towards your 5/24. However, if omitting authorized user cards and store cards will take you below 5/24, you can call the Chase reconsideration phone number (1-888-270-2127) and explain that those cards are merely authorized user cards (or store cards) and they can reconsider your application.
Knowing your 5/24 status (and credit score) is critically important so check it for free at creditkarma.com
IMPORTANT CONDITIONS FOR THE WELCOME BONUS
You won’t be able to obtain the signup bonus on this card if you have received a signup bonus on Sapphire Reserve or Sapphire Preferred within the past 48 months. And you won’t be approved for this card if you currently have an active Sapphire Reserve, or Sapphire Preferred card.
Now to the really good stuff…
CARD EARNING CATEGORIES
On this card you will earn:
- 2 points per dollar spent on travel. Chase is fairly liberal in what qualifies as travel so airfare, hotels, Airbnb, cruises, car rentals, subways, trains, taxis, Lyft/Uber, parking, etc. all qualify as travel
- 2 points per dollar on dining
- 1 point per dollar on everything else
ADDITIONAL CARD BENEFITS
- Primary rental car CDW insurance in every country
- Trip Cancellation/Trip Interruption Insurance
- Lost Luggage Insurance
- Trip Delay Reimbursement
- Baggage Delay Reimbursement
- Travel Accident Insurance
- There are no foreign transaction fees
INCREASED POINTS VALUE
If you have a Chase Sapphire Preferred card you can redeem your earned UR points earned at a value of 1.25 cents towards paid travel.
TRANSFER YOUR POINTS TO AIRLINE AND HOTELS
If you have a Sapphire Preferred card you can transfer Chase Ultimate Rewards points into valuable airline and hotel mileage currencies.
AIRLINE TRANSFER PARTNERS (transfer points at 1:1 ratio)
- United (Star Alliance)
- Singapore (Star Alliance)
- Air France/KLM Flying Blue (Skyteam)
- British Airways (OneWorld)
- Aer Lingus (OneWorld)
- Iberia (OneWorld)
- JetBlue
- Southwest
- Virgin Atlantic
HOTEL TRANSFER PARTNERS (transfer points at 1:1 ratio)
- Hyatt
- IHG
- Marriott
CARD ADAPTABILITY
If for any reason you want to convert your card to another card, you can simply call Chase and convert this card to any of the following cards:
- Chase Sapphire Reserve Card ($450 annual fee)
- Chase Freedom Card ($0 annual fee)
- Chase Freedom Unlimited Card ($0 annual fee)
Important Note: Typically, Chase will only allow card conversions after you have had the card for 12 months.
NEXT LEVEL POINTS PLANNING
Obtaining multiple Ultimate Rewards earning cards can amplify your earnings. For example, you may have one UR card that earns 2x points on travel but another UR card that earns 2x at grocery stores.
Think about it this way…
Chase Bi-fecta: Sapphire Preferred (or Sapphire Reserve) and the Freedom Unlimited or Ink Unlimited. The annual fees would total $95 with Sapphire Preferred (or $150 with Sapphire Reserve after accounting for that card’s $300 annual travel credit). With the Sapphire Preferred you would earn 2 points per dollar on travel/dining and 1.5 points per dollar elsewhere. With the Sapphire Reserve you would earn 3 points per dollar on travel/dining and 1.5 points per dollar elsewhere. With either card, you’ll be able to transfer all of your points into airline miles or hotel points, but with the Sapphire Preferred you can also use the points with a value of 1.25 cents each towards travel, while the Sapphire Reserve allows you to use the points with a value of 1.5 cents each towards travel.
Chase Tri-fecta: If you add a no annual fee card like Ink Cash or Chase Freedom into the equation, your total effective annual fee will still be just $95 (or $150). Both of those cards give options to earn an amazing 5 points per dollar in various categories on top of the 2-3 points per dollar that the Sapphire cards offer.
With a bit of creativity (and a bifecta, trifecta, quadfecta, etc.), it’s not difficult to bolster your points balance.
INSPIRATION
When it comes to aspirational redemptions, the opportunities are endless! I understand redeeming points can appear abstract if you’re relatively new to the points hobby so here are a few options…
Aspirational Redemption #1: Currently, ANA offers a non-stop flight from Houston (IAH) to Tokyo (NRT). The only challenge is the cheapest price you’ll find for a roundtrip 1st Class ticket is ~$23,000.
Solution #1: You can instantly transfer 110K points if you’re departing from the west coast (or 120K if you’re departing from the east coast) to Virgin Atlantic and it’s all yours.
If you’re curious about their new first class…watch this video:
Aspirational Redemption #2: Interested in staying at the 5-Star Park Hyatt in the Maldives, NYC, Sydney, etc. Well, that’s going to cost you a mere $1000+/night.
Solution #2: You can instantly transfer 25-30K points to Hyatt per night and make your dreams come true!
Aspirational Redemption #3: Interested in getting a bit of work done but then laying down in a separate bed because traveling is exhausting? Look no further than the Singapore suites.
Solution #3: You can instantly create this redemption by simply transferring Chase UR points to Singapore Airlines.
Aspirational Redemption #4: Often, getting from one city to another city (particularly at the last minute) can be cRaZy expensive. Who wants to pay $500 for a round-trip economy ticket from Cleveland to Chicago?
Solution #4: I’ve written about this many times (like HERE) but you can instantly transfer points to British Airways and book short-haul flights on American with no last minute booking fees. Another option for flying domestically using Chase UR points is instantly transferring points to United Airlines for their short-haul awards.
FINAL STAMP
This is an amazing deal and if you are able to meet the minimum spend in the first 90 days, the options are endless. The great thing about Chase Ultimate Rewards is how versatile and valuable they are.
We all have travel aspirations but if you’re looking for a great way to subsidize some of those travel bucket list items, this card is a no-brainer!
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