Chase Sapphire Preferred Card 40,000 Points Promotion

Credit card:
Chase Bank

Reviewed by:
Rating:
4
On August 28, 2012
Last modified:September 2, 2012

Summary:

Receive 40,000 points after opening a new Chase Sapphire Preferred Card account and spending $3,000 in the firs three months. Earn 2 points for every dollar spent on airfare and hotel rooms. Annual membership fee of $95 waived for the first year.

As a credit cards user, I got my first ever credit card with an annual fee, the Citi AAdvantage Card that I mentioned early that I wanted to get, only recently. The reason that I got the fee based card is the 75K bonus miles it offers and the rewards miles I can earn with the card, both are higher than the fee-free version of the card. Of course, when it comes credit card rewards, it’s always true that the card with an annual fee usually has better deals than the card with no annual fee has to offer to cardholders, especially in the travel rewards credit card category. One such example is the new Citi ThankYou Rewards cards that I discussed a while ago.

Chase Sapphire Preferred Card Review

Chase Sapphire Preferred Card ReviewIf you don’t mind paying an annual fee in order to get better rewards, then you may want to take a look at a new travel rewards card from Chase, the Chase Sapphire Preferred Card. With the Sapphire Preferred Card, you are able to earn 2 points for every dollar spent on airfare and hotel rooms when you book it through Chase’s Ultimate Rewards Program. The Chase Ultimate Rewards is a membership rewards program that lets cardholders to earn rewards points from using their participating Chase credit cards. Cardholders can also redeem points for cash and gift cards through the program. For more information, check out my Chase Ultimate Rewards review post for program details and participating Chase cards.

In addition to the double rewards points earned through Ultimate Rewards, as a cardholder, you can also get points from using the card for your everyday purchases, at a more standard 1 point per dollar rate. But that not all the benefits you will get from the new Chase Sapphire Preferred Card. Every year, you will receive an additional 7% annual points dividend, for all the points that you earned throughout the year.If you redeemed some points in the year, you can still get the dividend for those points that you already spent through the Ultimate Rewards program. Of course, as I mentioned Chase Sapphire Preferred is a card that comes with an annual fee of $95. The good news is, the fee is waived in the first year of membership, that’s a saving of $95 for those who are interested in this card.

For people who travel abroad a lot, one concern is whether using a credit card in another country will incur foreign transaction fees. This is not an issue with the Chase Sapphire Preferred Card because cardholders pay no foreign transaction fee at all. And there are no earning caps, point expirations, or blackout dates, meaning that you can earn unlimited points with the card as long as you keep the card in good standing.

Promotion Bonus

And if you are indeed interested in getting the Sapphire Preferred card, Chase is having some nice incentive for new card members. For a limited time, if you apply and are approved for this card, you will receive 40,000 bonus points if you spend $3,000 in the firs three months of becoming a member. That’s equivalent to $500 toward travel booked through Chase Ultimate Rewards program. The minimum spending seems to be quite high compared with no-fee cards, but is still doable. Usually, if you redeem a flight with the same value through Ultimate Rewards, it will cost you 62,500 points in total for two flights (you can redeem your points at airlines and hotels at 1:1 value through Ultimate Rewards). This means that you actually get more with the bonus points.

So what do you think of the new Chase Sapphire Preferred Card? Is it worth the $95 annual fee?

Receive 40,000 points after opening a new Chase Sapphire Preferred Card account and spending $3,000 in the firs three months. Earn 2 points for every dollar spent on airfare and hotel rooms. Annual membership fee of $95 waived for the first year.

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One Response to “Chase Sapphire Preferred Card 40,000 Points Promotion”

  1. CreditCardAssist |  Aug 03, 2011 at 6:51 am

    I really wish that more credit card companies had real people in the US on the phone lines when you call. It’s so frustrating when I can’t even understand what the person on the other end of the phone is saying!