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A couple of weeks ago Chase announced a new 60k welcome offer on their Chase Sapphire Preferred. While public applications were continuing to offer this without a waived fee, you could still refer people to a 50k offer with a waived first year annual fee. I advised against this pointing to the valuation of 10k Ultimate Rewards being worth more than $95. Shortly thereafter, Chase changed their referrals to match the public offer and now they’ve done one better.
Chase has increased their referral bonuses for current Chase Sapphire Preferred cardholders in both per card referrals and yearly max. You can now earn 15k Ultimate Rewards when you refer a friend which is up from a previous 10k per friend. The yearly max has also increased from 50k to 75k. Note referrals are only paid after card approval.
Here is my link if you’d like to support us, but please feel free to leave your referral links as well.
Chase Sapphire Preferred 60k
A quick overview of the Chase Sapphire Preferred benefits
- Points are transferrable to 13 Ultimate Rewards partners
- 2x points on dining and travel
- Redeem in the Chase Travel center for 1.25 cents per point
- No foreign transaction fees
- 60k points are worth $750 in the Chase Travel Center
- Suite of Travel and Purchase Coverage
A head’s up on Referrals
Chase has been sending on 1099’s effectively valuing Ultimate Rewards at a penny a piece. This would affect your taxes so keep that in mind and consult a professional if you’d like more advice.
My thoughts
I love the referral bonuses, but then again I’m a crazy travel blogger who will fly halfway around the world for a weekend. Those extra points help me do what I love, and I realize other people may not find the same value as I do and want to avoid any extra taxes. To each their own, but by my way of looking at things, I’m far more inclined to keep a card long term if I can earn additional points via referral and continue to reap the built in benefits of the card.
The feature image is from the Carmelo Resort and Spa in Uruguay’s Wine country. My buddy and I both made use of Chase’s transfer partner, Hyatt, to stay in this wonderful resort where the standard room is a bungalow.
If you’d like to support the blog, we greatly appreciate it
 | Chase Sapphire Preferred | 100k after $4k spend 5x Chase Travel 3x dining + select streaming 3x groceries |
|---|---|---|
 | Chase Ink Business Preferred | 100k after $15k spend 3x Travel/Internet/Cable Free Cell phone insurance $95 Annual Fee |
 | Chase Freedom Flex | $200 after $500 spend 5x rotating categories No Annual Fee |
 | Chase Ink Business Unlimited | Earn $750 after $7500 spend in 3 months. Earn 1.5x on every purchase |
 | Chase Freedom Unlimited | Earn $200 after $500 spend in 3 months |
Feel free to leave your own referrals if you’d like
Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
Chase Sapphire Preferred® Card
Welcome Offer
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
Annual Fee
$95
Points Earned
Transferrable Chase Ultimate Rewards
- 5x on all travel purchased through Chase Travel℠
- 3x on dining, including eligible delivery services for takeout & dining out
- 3x on select streaming services
- 3x on online grocery purchases
- (excluding Target, Walmart and wholesale clubs)
- $50 Annual Chase Travel Hotel Credit via Chase Travel℠
- The begins immediately for new cardmembers and after your account anniversary for existing cardmembers
- 2x on all other travel
- 10% Anniversary Bonus
- Every year you keep the card, your total spend will yield a 10% points bonus. If you spend $10k in a year, you’ll get 1k bonus points
- Chase Sapphire Preferred continues to redeem at 1.25c in the Chase Travel℠ and the slew of other benefits remain in tact including Auto Rental Collision Damage Waiver ( primary ), purchase protections, etc.
- Points are transferrable to 14 Ultimate Rewards partners
- Redeem in Chase Travel℠ for 1.25 cents per point
- No foreign transaction fees
- Suite of Travel and Purchase Coverage
- Auto Rental Collision Damage Waiver is my favorite
- Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2027.
- $95 Annual Fee
We keep an up to date spreadsheet that lists the best ever offers: You can find that spreadsheet here.
Historically 80k is a very, very good offer and hit in both 2022 and 2023. In 2021, we saw the offer hit an all time high of 100k. Who knows if that will ever come back.
Main Cast:
Cards that earn flexible points and should be used on the bulk of your purchases.
Supporting Cast:
Cards that earn fixed points in the currency of the airline/hotel and can not be transferred at attractive rates. These cards yield benefits that make it worth keeping, but not necessarily worth putting a lot of your everyday spend on.
The Chase Sapphire Preferred® is exceptional starter card and offers transferrable Ultimate Rewards, and pairs well with other Chase cards.
If you carry this card alongside Chase’s cashback cards like the Chase Freedom Flex® and Chase Freedom Unlimited® or the business versions: Ink Business Cash® , Ink Business Unlimited® you can combine the points into Preferred account and transfer into hotel and airline partners
Annual fee is quite low at $95 a year + you get a 10% anniversary bonus on points + $50 hotel credit in Chase travel.
The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved, or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.