by Krish Patel

For beginners, the Chase Sapphire Preferred is a great travel credit card that comes with good earning rates and valuable perks at a pretty affordable $95 annual fee. Now, Chase has added a $300 travel credit to its welcome offer of 60,000 Ultimate Rewards points on the card, making now a great time to apply.

Current Welcome Offer on the Chase Sapphire Preferred

Currently, new cardholders can earn 60,000 bonus Chase points and a $300 travel credit for the first year after spending $4,000 on purchases in the first three months of account opening. The travel credit can be applied to one or more purchases made through Chase Travel in the first year. You’ll receive this credit within eight weeks of the purchases you make. Plus, you don’t need to meet the minimum spending requirement to receive this travel statement credit.

The last time an elevated bonus was on the card was around May or June of this year, when 75,000 Chase Ultimate Rewards were on offer. However, the current welcome bonus is more lucrative, as it’s easier to use the $300 travel credit, rather than the additional 15,000 points. 

What Makes the Chase Sapphire Preferred a Good Travel Credit Card?

After you’ve spent the welcome bonus, it’s very easy to earn points on the Sapphire Preferred. The card comes with the following earning rates:

• Earn five points per dollar spent on travel booked through Chase Travel

• Earn five points per dollar spent on Lyft purchases (through March of next year)

• Earn three points per dollar spent on dining purchases

• Earn three points per dollar spent on certain streaming services

• Earn three points per dollar spent on online grocery purchases, with the exception of Target, Walmart, and wholesale clubs

• Earn two points per dollar spent on all other travel purchases

• Earn one point per dollar spent on everything else

Cardmembers also receive an annual bonus of 10% based on their total spending during the account anniversary year at a rate of 1 point per $1 spent.

To maximize your Chase points, it’s worth transferring them to one of the 14 hotel or airline partners. Some valuable transfer partners include Air Canada Aeroplan, World of Hyatt, or Air France/KLM Flying Blue. Booking Business Class flights to Europe or luxury hotel stays using Chase points is much cheaper than the cash equivalent for the same redemption. 

Conclusion

The Chase Sapphire Preferred is one of the most valuable travel credit cards on the market because of its valuable perks that include travel protections and statement credits. Given the easily usable perks and strong earning rates, it’s a great choice for those who like to maximize their travel.