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Update: As of July 20, 2014, the Chase Sapphire Preferred Card no longer offers the 7% annual points dividend. View the current sign up offer here.
I wrote about it at the end of last week, but this is a final reminder that the Sapphire Preferred 50,000 point sign-up bonus will be ending tomorrow, Tuesday, April 3, 2012 at 10am EST, so if you were waiting to get this card, you should do it today. Chase currently only offers 40,000 points for signing up, 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% annual dividend).
As you might have read yesterday’s Sunday Reader Question about how to keep earning and maximizing your points beyond sign-up bonuses, if you want a sustainable long-term points strategy, you need to get the best cards that provide you with the most return on your spending, and the Sapphire Preferred is definitely one of them, especially if you amplify its benefits and earning potential with the Ink Bold and Freedom cards and a Chase checking account, as I talked about in my other post today.
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.