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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.
I just got notice from Chase that the Chase Sapphire Preferred® Card 50,000 point sign-up bonus will be changing on Tuesday April 3, 2012, so if you were waiting to get this card, you should do it now. Chase only offers 40,000 currently, so getting in on an affiliate links (like mine) is currently the best deal on the market. It is possible the bonus could go back to 50,000 or higher in the future, but I personally feel good getting it at 50,000 (actually 53,500 once you factor in the annual 7% dividend). If for some reason your application is initially pending or denied, Chase is very lenient with “reconsidering” and approving your application (like they did for me) if you call their reconsideration line.
Just as a reminder of the key benefits of this card and Ultimate Rewards that I love:
– Ultimate Rewards points can be transferred (usually instantly) at a 1:1 ratio to United (Star Alliance), British Airways (Oneworld), Korean Air (Skyteam), Southwest, Hyatt, Marriott and Ritz-Carlton, Priority Club (Intercontinental, Holiday Inn, Crowne Plaza) and Amtrak. Tip: you can even transfer these points to other people – names do not have to match accounts.
– If you want to use points for any flight, they are worth 1.25 cents each. So the 50,000 sign-up bonus would equate to $625 in credit to be used on any trip and you earn miles on flights redeemed using this method.
– No foreign transaction fees. Check out this post to find out why foreign transaction fees are bad.
– You earn a 7% annual dividend on points earned in a year. So if you spend $30,000 on the card in a given year, Chase will give you an extra 2,100 points. You do get the 7% bonus on the 50,000 point sign-up bonus, so it’s basically a 53,500 point sign-up bonus.
– 24/7 Customer service – your phone calls are always answered by a human based in the US.
– 2 points per dollar for travel expenses charged on the card and up to 10 points per dollar on purchases through the Ultimate Rewards Mall.
All in all, Ultimate Rewards is a great points program, and the Chase Sapphire Preferred® Card card has been my top card since I got it myself since travel and dining are basically the things I do most in life!