Disclosure: This post contains links to cards we personally use and are happy to recommend. We may receive a referral bonus if you apply through the links below. We are independently owned and the opinions expressed here are our own.
One of the only things on this earth better than travel is traveling for free. Over the past few years of globetrotting, Allie and I have learned SO MUCH about how to do exactly that. One of the best ways is through points and miles redeemable for travel.
Our current points and miles balance is worth somewhere in the neighborhood of $15K – $20K in travel rewards. In fact, in the past year we’ve accumulated over 1MM points and miles without even leaving home! And a number of those points and miles came from sign-up bonuses offered by major travel rewards credit cards just like this one.
Now, I don’t share this to brag. Allie and I are regular people who were complete rookies when it came to points and miles just one year ago. But, with a little strategy, a spreadsheet, and record-high offers just like this one, you can travel for free just like us!
Read on for the offer and card overview!
The Welcome Offer
Here’s the current offer from Chase:
“Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $1,000* when you redeem through Chase Ultimate Rewards®. Plus earn up to $50 in statement credits towards grocery store purchases within your first year of account opening.”
*Chase Ultimate Rewards points are commonly valued at 2 cents per point, so 80,000 bonus points is more like $1,600 in value in my book.
The current welcome offer is an all-time high bonus for the card. If you are considering breaking into the points and miles game, this could be your moment.
Chase Sapphire Preferred Card overview
The Chase Sapphire Preferred Card is one of the top travel credit cards available. With the CSP, you can earn 5X points on Lyft (through March 2022), 2X points on travel and dining (including food delivery), and 1X points on everything else. The points you earn (Chase Ultimate Rewards Points) are some of the most valuable points available, as they are transferrable to 13 airline and hotel partners at a 1:1 rate.
In my opinion, The Chase Sapphire Preferred Card is the best card for travel rewards beginners due to the large welcome bonus, valuable points currency, low $95 annual fee, and extra perks such as Trip Insurance, and credits to Peleton and Doordash.
Check out all the details here
Who is this Card for?
The Chase Sapphire Preferred is my top recommended card for beginners to travel rewards credit cards, but honestly, this is a great card option for anyone interested in earning points toward travel. Ultimate Rewards Points are like gold in the points and miles business, so even if you’re a seasoned pro, this card is great to add to your arsenal. It and its older brother, The Chase Sapphire Reserve are two of the best travel rewards cards on the market.
Sidebar: When considering which of the two to go for, I tend to recommend The Chase Sapphire Preferred to points and miles beginners and less frequent travelers, mainly due to the Chase Sapphire Reserve’s $550 annual fee (compared to $95). However, if you travel a lot or are confident you will take advantage of its many perks, the Chase Sapphire Reserve is well worth the annual fee in my opinion (I’ll write a post about that soon).
If you are new to points and miles or would like get more serious about growing your points balance before travel comes back big, I highly recommend you start your points and miles journey with Chase cards. Why? Three reasons: Cobranded partnerships with airlines and hotels, generally high welcome offers, and Chase’s 5/24 rule.
What is Chase’s 5/24 Rule?
The 5/24 rule is a criteria Chase uses for approving/denying applicants for their cards. Put simply, if you have opened 5 or more credit cards (from any lender) in the past 24 months, you are not eligible for Chase cards. Your application will be declined.
This card is absolutely worth being one of your 5 chase cards.
Curious what your other cards should be? Check out this handy flowchart.
What Credit Score Do I Need to Qualify?
I recommend a credit score of at least 700
What if I’ve Never Had a Credit Card?
You might not be approved. Check out this post by thepointsguy on top first credit card picks.
A note about using Credit Cards
Credit Cards are like table saws. If you know how to use them safely and respect their power, you can build amazing things (like a tidy sum of points for an amazing trip). But if you aren’t diligent and meticulous about using credit cards responsibly, you can lose an arm and a leg…or your house.
Two rules to always follow:
1. Only use credit cards to purchase things you actually have the money to buy.
2. Pay your credit card on time and in full every month.
If you cannot always follow those two rules, do not apply for this card or any credit card.
Bottom Line
The Chase Sapphire Preferred was already in my top 10 list of best credit cards for travel rewards, and my number one recommended card to travel rewards beginners. The all-time high welcome bonus makes it a no brainer!
As travel begins to pick back up in 2021, make sure you’re ready with a fat stash of points and miles.
Click here to take advantage of the 80,000 point welcome offer.
P.S. no matter where you’re at on your points and miles journey, I would love to help you. Fill out the form on this page for a Free Credit Card Consultation and I will help you figure out your next move!
