If you don’t yet have the Chase Sapphire Preferred® Card or Chase Sapphire Reserve® Card, this is a fantastic time to apply. Several weeks ago we saw the introduction of a couple of exciting new welcome bonuses, and I wanted to post a reminder of these offers, given how generous they are, as I imagine these offers may not be around for that much longer.
Chase Sapphire Preferred: earn 80K points
The Chase Sapphire Preferred is offering an incredible two part sign-up bonus, which is the best-ever publicly available bonus we’ve seen on this card:
- Earn 80,000 bonus Ultimate Rewards points after spending $4,000 within three months
- Receive a one-time automatic statement credit of up to $50 on grocery store purchases; eligible purchases within the first 12 months will be automatically applied to the credit, and there’s no spending threshold to be eligible for it
This bonus is 20,000 Ultimate Rewards bigger than before. Based on my valuation of Ultimate Rewards points, I consider this bonus to be worth a staggering $1,410.
Redeem your Ultimate Rewards points for some incredible hotel stays
Why you should get the Sapphire Preferred
The $95 annual fee Chase Sapphire Preferred is one of the most well-rounded mid-range cards out there. The card:
Earn bonus points on dining with the Sapphire Preferred
Chase Sapphire Reserve: earn 60K points
The Chase Sapphire Reserve is offering a sign-up bonus of 60,000 bonus Ultimate Rewards points after spending $4,000 within three months. Based on my valuation of Ultimate Rewards points, I consider this bonus to be worth $1,020. This is the best bonus we’ve seen on the card since the initial bonus we saw when the card launched several years ago.
Redeem your Ultimate Rewards points for business class flights
Why you should get the Sapphire Reserve
The $550 annual fee Chase Sapphire Reserve is one of the most popular premium credit cards out there. The card:
- Offers 3x points on dining and travel
- Offers a $300 annual travel credit that will help offset the annual fee
- Offers a Priority Pass membership, which can get you airport lounge access
- Has great travel protection
- Acts as a good “hub” card for Chase Ultimate Rewards, and lets you maximize the other cards in the portfolio
- Offers flexible points that can be transferred to a Chase Ultimate Rewards airline or hotel partner, can be redeemed at 1.5 cents each towards a travel purchase, or for a limited time can be redeemed at that rate towards everyday expenses
Get Priority Pass lounge access with the Sapphire Reserve
Are you eligible for a Chase Sapphire card?
Note that you can only be approved for either Chase Sapphire card if:
- You don’t currently have a Chase Sapphire card (Preferred or Reserve)
- Haven’t received a new cardmember bonus on a Chase Sapphire card (Preferred or Reserve) in the past 48 months
You can only apply for one Chase Sapphire card
Which Chase Sapphire card should you apply for?
Personally if I were to pick up one of these cards, I’d probably select the Chase Sapphire Preferred:
- The bonus offers an extra 20,000 Ultimate Rewards points plus up to a $50 statement credit towards groceries, which is significant
- Even if you decide that in the long run you want the Chase Sapphire Reserve, you can apply for the Sapphire Preferred and once you’ve had the card for at least a year you should be able to product change to it
You might as well earn more Ultimate Rewards points!
We’re seeing some spectacular increased sign-up bonuses on Chase’s Sapphire cards, so if you don’t yet have one of these cards, this is the time to pick them up.
You can’t go wrong with either card — while I have the Chase Sapphire Reserve and love it, personally I’d pick up the Chase Sapphire Preferred, given the substantially better bonus (which is the best-ever for the card) and lower annual fee, as you can always product change in the future.
Do you plan on picking up a Chase Sapphire card with this big bonus?