Chase Sounds Last Call for 80,000 Points Offer

What happened

For a limited time, new Chase Sapphire Preferred® Card holders can earn 80,000 bonus points by spending $4,000 on purchases within three months of opening a new account. That could mean scoring $1,000 toward travel redeemed through Chase Ultimate Rewards®. However, Chase warns that this offer is ending soon, so if you’re interested in it, apply quickly.

So what

It’s common for credit cards to offer some type of sign-up bonus to new cardholders. But 80,000 bonus points is a fantastic offer, even for a travel rewards card, which tend to be more generous in that category.

“This product is available to you if you do not have any Sapphire card and have not received a new cardmember bonus for any Sapphire card in the past 48 months,” said Chase on its website.

Now what

The Chase Sapphire Preferred® Card offers a generous rewards program on top of its current sign-up bonus offer. You can earn up to $50 in statement credits each account anniversary year for hotel stays you book through Chase Ultimate Rewards®, plus 5% back in points on travel booked through Chase’s portal. 

You’ll also earn 2% back in points for travel purchases not booked through Chase, 3% back on dining (including takeout and eligible delivery services), 3% back on online groceries, and 3% back on streaming services. All other purchases will allow you to earn one reward point per dollar spent.

All told, these are a lot of perks given the $95 annual fee, which is on the lower side for a travel reward card. See rates and fees here. However, before you sign up for this offer, make sure to read the fine print. The Chase Sapphire Preferred® Card comes with a pretty steep 20.74% – 27.74% Variable APR, so if you’re forced to carry a balance forward, it could end up costing you a lot of money in interest.

Also, while 80,000 bonus points is a great offer, if you can’t afford to spend $4,000 within three months of opening the card (and pay off the card), then you’re better off passing. You don’t want to land in debt in the course of chasing a sign-up bonus — even a generous one like this.

Finally, if you happen to be in the market for a new travel rewards card, shop around. Chase’s offer may not be the most suitable one for you. Compare factors such as spending requirements, ongoing perks, and annual fees to arrive at the right choice.