Chase has made a great card even better by upping the signup bonus on the Chase Sapphire Preferred® Card.
Starting March 19, 2019, new Chase Sapphire Preferred® Card cardholders can earn 60,000 bonus points when they spend $4,000 on purchases in the first 3 months from account opening.
However, there’s an annual fee caveat. Although the fee amount will remain the same, Chase will no longer waive your first year’s annual fee as they’ve done in the past.
|Old values||New values|
|Annual fee||$0 intro annual fee for the first year, then $95||$95|
|Signup bonus||50,000 when you spend $4,000 on purchases in the first 3 months from account opening||60,000 when you spend $4,000 on purchases in the first 3 months from account opening|
What can you get with this signup bonus?
As we’ve covered in our Chase Ultimate Rewards guides, the Chase Sapphire Preferred® Card earns a redemption bonus of 1.25 cents when you redeem through the Chase travel portal. That means this new signup bonus is worth up to $750 toward travel.
However, keep in mind you’re losing a bit of that value due to the $95 annual fee. If we value $95 at 9,500 points, then you might consider the true value of the welcome bonus around 50,500 points. That’s a 500 point bump from the old offer equal to about $631 on travel.
Is this card worth signing up for?
Yes. Even after the update to the welcome offer and changes to the annual fee, this is still the Chase Sapphire Preferred® Card you know and love. It’s a great card for earning points on travel and dining, and it plays an important role in getting the most out of your Chase Ultimate Reward points.
Pair this card with another Chase card — or two — to ramp up your Ultimate Rewards points and transfer them to one of Chase’s numerous travel partners.
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While the signup bonus increase may not be a significant upgrade from the old one due to the annual fee, the Chase Sapphire Preferred® Card remains a valuable card if you plan on using the Chase Ultimate Rewards program.