Marriott Rewards Premier Visa 70,000 points & Free Night
Update: Some offers mentioned below are no longer available. View the current offers here.
While the bonus for the Marriott Rewards Premier Visa from Chase normally sits at 50,000 points, there has been a public offer floating around for 70,000 points (after spending $2,000 within the first 3 months) plus one free night at a category 1-4 property upon approval.
In my monthly valuation of points and miles for July I have Marriott points listed at .7 cents a piece. This means that a 70,000 point sign up bonus is worth about $490, and with the free night upon approval you could get an additional ~$300 in value. On top of that, every year on your account anniversary you'll receive another free night that can be used at category 1-5 locations.
Redeeming Marriott Points
70,000 points may seem like a large bonus compared to most offers out there right now, but when redeeming your points for hotel stays you'll need to redeem a lot more points than you would in most other programs.
For example, if you wanted to stay at the JW Marriott Cannes like I just did in May, you would have to redeem 40,000 points per night, since it's a category 8 hotel. Those 70,000 points earned from the Marriott Rewards Premier bonus wouldn't even cover two nights, though you'd be getting 1.2 cents per point in value, since room rates at the end of July are about $499 per night.
On the other end of the spectrum, if you were to stay in Category 1 hotels, you could use those points to cover 9 nights of hotel stays, since you'd only need 7,500 points per night (or 6,000 at the PointSavers Reward level).
As with all things points-related, the value of your points depends on what you plan to use them for. If you have some super-expensive Marriott redemptions in mind, this offer is definitely worth jumping on.