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The coronavirus pandemic has thrown a wrench in many people’s travel plans, making popular rewards cards like the Chase Sapphire Preferred® Card feel a tad less relevant. But credit card companies have adjusted their benefits to reflect this new normal, with expanded options for using your points and miles closer to home.
Chase introduced one of the best new options for redeeming your points: Pay Yourself Back, which lets you cover grocery, dining, home-improvement, and select charity purchases with points from the Chase Sapphire Preferred® Card or Chase Sapphire Reserve®. You even get a 25% to 50% bonus that boosts your points’ value.
Now there’s more good news for anyone who wants to save money with Chase points: The Chase Sapphire Preferred card is offering its highest-ever sign-up bonus, which is worth up to $1,000. It’s only available for a limited time, so you shouldn’t wait to apply if you’re interested.
Chase Sapphire Preferred® CardEarn 80,000 points with the Chase Sapphire Preferred
The standard sign-up bonus for the Chase Sapphire Preferred® Card is 60,000 points after you spend $4,000 in the first three months from account opening. Even at that level, the card earned a place on our list of the best credit card welcome bonuses, but now that you can earn an additional 20,000 points, it’s catapulted to the very top of that list.
If you don’t have the Chase Sapphire Preferred yet — and you don’t have the Chase Sapphire Reserve® either (you can’t hold more than one Chase Sapphire card) — you can earn 80,000 Ultimate Rewards points after you spend $4,000 in the first three months from account opening.
80,000 Chase points are worth up to $1,000
With Chase’s new Pay Yourself Back feature as well as with the Chase Ultimate Rewards travel-booking site, points from the Chase Sapphire Preferred® Card are worth 1.25 cents apiece. That means this 80,000-point offer can get you as much as $1,000 in value toward travel or to cover purchases such as dining out and groceries.
You could also choose to save your points for a later date when you’re ready to travel. At that point, you could either cash in your Ultimate Rewards through Chase’s travel portal, or you could transfer them to Chase’s partners, which include British Airways, Hyatt, IHG, Marriott, Singapore Airlines, and United. If you go the transfer route, you could get even more than $1,000 in value from your points — especially if you’re redeeming for a first-class flight that would cost thousands of dollars in cash.
This offer won’t be around forever
This 80,000-point bonus is being marketed as a limited-time offer, so you shouldn’t assume it will be around next month. In fact, because we don’t know when this sign-up bonus will end, you should strongly consider applying now if you’re interested.
Before you apply, make sure you’re eligible to open a new Chase card account. Chase has a rule called 5/24 that …read more
Source:: Business Insider