Up to 5 Free Hyatt Nights With Chase Sapphire Preferred – Waived Annual Fee

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Update: The Chase Sapphire Preferred® Card sign-up bonus offer is now 40,000 points when you spend $3,000 in the first 3 months.

Chase is now waiving the $95 annual fee for the Sapphire Preferred and offering 25,000 Ultimate Rewards points when you spend $3,000 in the first three months.

While it is not widely publicized, Ultimate Rewards points transfer to Hyatt, Continental, British Airways, Marriott and Priority Club at a 1:1 ratio and usually instantly (check out the full Ultimate Rewards program booklet here though note this is from last summer before the Hyatt card launched. Since the Hyatt card is issued by Chase, Ultimate rewards points can now be transferred to Hyatt- if you are skeptical, call to confirm before applying for the card). There’s also no foreign transaction fee and you get a 7% annual dividend on the total amount of points you accrue throughout the year (even if you spend them). So if you spend $25,000 a year, you’ll earn 25,000 Ultimate Rewards Points plus 1,750 extra points as your dividend.

Personally, I think it’s a great value when transferring to Hyatt, since the to category 6 hotels are 22,000, so this offer equals a free night at a $500+ Park Hyatt, with 3,000 points left over. This would also be 5 nights at a category 1, so if you want to redeem for lower level properties, this card may make more sense than the $75 Hyatt card which only gives 2 nights.

This is one of the credit cards that I do get credit if you sign up, but I want to stress I’m not promoting it for that reason. Considering the huge value with Hyatt and the waived annual fee and no pesky foreign transaction fees, which I wrote about yesterday, I firmly believe this is a solid card all around.

Chase Sapphire Preferred® Card

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  • Earn 50,000 bonus points when you spend $4,000 on purchases in the first 3 months from account opening. That's $625 in travel when you redeem through Chase Ultimate Rewards®
  • Named a 'Best Credit Card' for Travel Rewards by MONEY Magazine
  • 2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases
  • Sleek metal card design
  • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
  • $0 foreign transaction fees, plus chip-enabled for enhanced security and wider acceptance when used at a chip card reader
  • 1:1 point transfer to leading frequent travel programs at full value — that means 1,000 Chase Ultimate Rewards points equal 1,000 partner miles/points
  • Travel confidently with premium Travel Protection Benefits, including Trip Cancellation/Trip Interruption Insurance, Auto Rental Collision Damage Waiver, Trip Delay Reimbursement and more
Intro APR Regular APR Annual Fee Balance Transfer Credit Rating
N/A 16.24%-23.24% Variable Introductory Annual Fee of $0 the first year, then $95 See Terms Excellent Credit