Chase Sapphire Preferred: New Offer of 80,000 Points

The Chase Sapphire Preferred, a flagship travel rewards credit card issued by JPMorgan Chase in the US, has just launched a new welcome bonus of 80,000 Ultimate Rewards points.

This is an exciting development for anyone who’s looking to rack up the points via US credit cards, especially if you’re currently in the “mid-game” of your US credit card strategy.

New Offer of 80,000 Ultimate Rewards Points

The Chase Sapphire Preferred is often considered the ideal introductory card in Chase’s overall credit card portfolio, and it’s a very popular starting point for Americans who play the game.

With the latest welcome bonus, you’ll earn 80,000 UR points upon spending $4,000 in the first three months (all figures in USD). The card has an annual fee of $95, which is not waived for the first year.

The Chase Sapphire Preferred has no foreign exchange fees, which means that you can meet the minimum spending through your Canadian purchases, and you’d only incur an FX impact if you need to convert Canadian dollars into US dollars to pay off your bill.

(Note that the Chase Sapphire Preferred had historically offered up to 100,000 Ultimate Rewards points as a welcome bonus, but there’s no guarantee that we’ll see that offer returning again in the future.)

Redeeming Chase Ultimate Rewards Points

Chase’s Ultimate Rewards points program has a variety of frequent flyer partners, which generally represent the most valuable way to spend your points. A few redemption possibilities might include:

• World of Hyatt: Redeem points at a great value for Hyatt hotel stays
• Virgin Atlantic Flying Club: 72,500–85,000 miles would be enough for a one-way flight in ANA First Class
• Singapore Airlines KrisFlyer: The only program that can book a vast majority of Singapore Airlines’s luxurious premium cabins
• Avianca LifeMiles and United MileagePlus: Alternative programs to book Star Alliance premium flights compared to the easily accessible Aeroplan points we have in Canada

Out of the above, the Hyatt partnership arguably offers the greatest “comparative advantage” when redeeming Chase points.

That’s because Chase Ultimate Rewards is the only major transfer partner of the World of Hyatt program, whereas the other transfer possibilities can be accessed through alternative means.

Virgin Atlantic and Singapore Airlines…