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If you’ve watched the favorite Chase Sapphire card, now is the time to get it: the card’s 80,000 point sign-up bonus worth up to $ 1,000 is about to disappear.
If you spend $ 4,000 on the card within three months of opening it, you can earn 80,000 bonus points. When this offer expires on November 8, the card is expected to revert to the previous sign-up bonus of 60,000 points, which is still competitive but is worth less at around $ 750.
The limited time offer is a big sign up bonus of a card that has added value to meet the rapidly evolving needs of cardholders in 2020. Learn more about this offer.
What is the offer?
The Chase Sapphire Preferred Card’s The 80,000 point sign-up bonus is only available to new cardholders. You will earn the bonus after spending $ 4,000 on the card within three months of activating it.
Your points can be redeemed for cash back or other rewards. However, how you choose to redeem your points will determine the value of your bonus.
If you go for cash back, you will get $ 750. But these three options for redeeming your points give you 25% more value and are worth $ 1,000:
- Travel booked through the Chase Ultimate Rewards portal
- Statement credits after using your card at grocery stores, home improvement stores, certain charities and restaurants, including eligible takeout and delivery services, until April 2021
- Local takeout orders, virtual dining experiences and more through April 2021 using the Chase Dining program through the Ultimate Rewards portal
Is the offer worth it?
Any sign-up bonus worth up to $ 1,000 is worth considering, especially if you plan to meet spending requirements. Although the card charges an annual fee of $ 95, the sign-up bonus easily exceeds the cost.
The benefits of the card and the opportunities to earn points include:
- Two points per dollar spent on travel and meals, including eligible delivery services and take out orders
- Five points per dollar on Lyft trips through March 2022
- Two points per dollar on grocery purchases from November 2020 to April 2021
- One point per dollar on all other purchases
- 25% more value when you redeem rewards for purchases of travel, groceries, home improvement and catering, as well as selected charitable donations
- Unlimited free shipping and reduced service charges on orders over $ 12 for at least one year on qualifying food purchases with DashPass, DoorDash’s subscription service
- Travel insurance
- No foreign transaction fees
Comparison of sign-up bonuses
Before you apply for the Chase Sapphire Preferred Card, see how its signup bonus compares to others:
- Capital One Venture Rewards Credit Card. With this card, you can earn 100,000 bonus miles – worth $ 1,000 – when you spend $ 20,000 in the first 12 months. Can’t quite sway that? You can still earn 50,000 miles if you spend $ 3,000 in the first three months.
- The American Express Platinum Card. When you spend $ 5,000 on the card in the first three months, you earn 60,000 bonus points worth $ 600.
- Chase Sapphire Reserve. You’ll earn 50,000 bonus points – worth up to $ 750 – when you spend $ 4,000 in the first three months.
Should you claim the offer?
A sign up bonus worth $ 1,000 with flexible and high value rewards is a rare find. The 80,000 point sign-up bonus won’t last too long, but the card creates significant value with rewards and redemption options until at least April 2021.
If you’re not swayed by a big signup bonus, don’t plan on spending $ 4,000 in the first three months, or prefer a simpler rewards structure, you’ll do better with a different card. A cash back card with no annual fee may be a better choice for you.