Why crafters should weave the Chase Sapphire Preferred Card into their wallet
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You may have become more of a DIY enthusiast last year due to the stay-at-home orders during the COVID-19 pandemic. At-home projects may have included cleaning out closets, organizing boxes of photographs and stepping into the world of crafting — think knitting, quilting, sewing, candle-making, needlepoint and more.
Working with your hands creates a sense of accomplishment and the result is a one-of-a-kind creation. You may have even sewn masks to protect yourself or your loved ones as they ventured out. Even if you aren’t wearing a mask like you used to, your love of crafting can still continue as more people are vaccinated and restrictions subside.
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Crafting has increased in popularity and through some strategic planning using rewards credit cards, you can earn points toward valuable shopping and travel benefits. You can also earn perks at home improvement stores and get awarded gift cards, resulting in supplies — with no heavy lifting involved.
If you are looking for a new credit card, consider the Chase Sapphire Preferred Card, which is jam-packed with perks that are especially valuable if you’re a crafter. Read on to learn how to get crafty with this standout rewards credit card.
Why this is a great time to apply
The Chase Sapphire Preferred’s annual fee is $95, which is a moderate fee in the marketplace. This fee isn’t waived the first year like other cards you may have, so you should be amenable to paying the fee beginning with your first month’s statement. However, the value of the card easily justifies this fee, thanks to perks including trip delay insurance, trip cancellation insurance, baggage delay insurance, lost luggage reimbursement, primary rental car coverage.
Related: 100,000-point bonus for a top travel card: Chase Sapphire Preferred credit card review
Chase is wooing new cardholders with the largest sign-up bonus ever offered for the Sapphire Preferred: a groundbreaking 100,000 bonus points after spending $4,000 in the first three months of opening a new account. TPG values this sign-up bonus at a rich $2,000 toward travel through Chase Ultimate Rewards, which you can use to attend a scrapbooking convention or take a photography course with National Park Photography Expeditions.
Earning the sign-up bonus
The top strategy is to acquire the sign-up bonus of your Chase Sapphire Preferred Card. You must reach the $4,000 spending threshold in the first three months of opening your account. You should spend judiciously, however, and not run up credit card debt on unnecessary items. The best course of action is to plan out a strategy for spending. And if you’re a crafter, here are some suggestions.
You could be well on your way to reaching $4,000 by buying a sewing machine or professional supplies or creating the crafting studio of your dreams by redoing that extra bedroom that has been storing junk for years. Be sure to keep your renovation and purchasing plans on a tight timeline. Pay your vendors using your Chase Sapphire Preferred Card within the first three months so you can reach the threshold. If you don’t, you’ll miss out on earning the 100,000-point bonus.
How to stretch rewards even more
Once you reach the spending requirement and the points are awarded, it’s time to really get your creative juices flowing. If you are renovating your crafting space or stocking up on supplies, here are some nifty ways to stretch your points.
Earn more. Chase Sapphire Preferred points are currently worth 25% more when redeemed through Pay Yourself Back for purchases at home improvement stores. This offer runs through Sept 30, 2021. You may want to head to your Home Depot or Lowe’s to pick up crafting and DIY supplies and redeem points on that purchase at more value.
Shop with gusto. You can also shop for gift cards within Ultimate Rewards – sometimes at a discount. There are dozens of merchants to choose from, including Target. So you can use your points to purchase the gift card and then buy the crafting supplies you need.
Link to your Amazon account. You can redeem Chase Ultimate Rewards on Amazon.com. It’s very straightforward and convenient. Make sure your Chase Sapphire Preferred is linked to your Amazon.com account. The payment terms are very flexible. You can choose the number of points you want to redeem and then pay the balance using your credit card. Best of all, if you are an Amazon Prime member, you enjoy free shipping on qualifying purchases. Instead of lugging that paper-cutting machine from the local store, have it shipped directly to your front porch.
Redeem your points for craft-related travel
If you need to venture to New York City to purchase custom material at Mood Fabrics for window coverings you’re making, Chase’s 10 airline and three hotel transfer partners can help get you there.
Even if you’re not jetting off quite yet, your everyday spending can help your hobby goals. Your Chase Sapphire Preferred works in your favor for everyday spending, as you’ll earn 2x points on travel and 3x points on dining. Taking a quilting cruise? Doing a day trip to collect seashells for a custom picture-frame project? Painting a local farmer’s market scene? Your Chase Sapphire Preferred card continues to earn points. Use it to pay for your hotel stays, gas, dining and delivery, airline tickets, cruises and more. If you decide you want a private vacation rental, you will earn points as well.
It doesn’t stop there: Your Chase Sapphire Card earns 5x on travel when booked through the Chase Ultimate Rewards portal,
3x points on dining,3x points on select streaming services, 3x points on online grocery purchases (excluding Target, Walmart and wholesale clubs), 2x points on all other travel, and 1x points on all other purchases. You can get a new drafting desk, crafting shears or skeins of yarn to knit or crochet a blanket as you stream movies from your living room sofa.
Even if you purchase high-ticket crafting merchandise, your Chase Sapphire Preferred continues to shine. Eligible Chase cardmembers can break up card purchases of $100 or more into fixed monthly payments with My Chase Plan. You won’t be charged interest, only the fixed monthly fee. So if you’re looking to purchase a new computer for designing, you’re able to use My Chase Plan to budget your payments.
As a crafter, you know there are ongoing expenses for supplies and expensive equipment such as sewing machines, lights, desks and other necessities. If you are opening a new Chase Sapphire Preferred and you want to snag this massive 100,000-point sign-up bonus, make sure you reach the $4,000 spending requirement within the first three months of opening your account. As you invest in your crafting endeavors, don’t overextend yourself. Pay your account balances off in full. If you don’t, any rewards you earn will be offset by hefty interest charges.
Ready to get the card? Apply here for the Chase Sapphire Preferred with 100,000 increased bonus
Featured photo by Clint Henderson/The Points Guy.
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