Chase has been making positive changes to its credit card lineup over the past few weeks. Earlier this week, Chase officially launched the new Chase Freedom Flex℠ card and new Freedom Unlimited bonus categories. The good news continues with the announcement of an all-time high welcome bonus of 80,000 points for the Chase Sapphire Preferred card.

80,000 Point Welcome Bonus

New cardholders can now get 80,000 points after spending $4,000 in the first three months of account opening. That’s 20,000 more points then the previous offer!

This card has long been considered one of the best travel credit cards available. Now I feel as confident as ever to say, if you don’t already have this card, you must consider signing up now. This offer is good for a limited time only, as the last full day to sign up is Sunday, November 8, 2020.

Why You Should Get The Chase Sapphire Preferred

The Welcome Bonus

This 80,000 bonus is worth a minimum of $1,000 in travel using the Chase travel portal. Points earned are worth 1 cent per point when redeemed for cash back. However, your points are worth 25% more or 1.25 cents per point when you redeem for airfare, hotels, and other travel through the Chase travel portal. Essentially you’re getting $1,000 back for spending $4,000 which is equal to a 25% return!

But the Chase Travel Portal isn’t your only option. You can often get even greater value by transferring points to any of Chase’s 13 travel partners! For example, you could transfer 70,000 Ultimate Rewards points to United Airlines to fly first class from New York to Los Angeles. Tickets often sell for around $1,750, so the value of those 70,000 points is around 2.5 cents per point ($1,750 / 70,000 points).

Other Card Benefits

The Chase Sapphire Preferred also offers many terrific benefits like primary auto rental collision coverage. It also currently offers 5x points on Lyft rides and complimentary DashPass subscription from DoorDash. Other great travel benefits include trip cancellation interruption insurance, baggage delay insurance, trip delay reimbursement, and lost luggage reimbursement.

Chase Sapphire Preferred Eligibility

This offer is only available if you don’t have any Sapphire card (Preferred or Reserve) and haven’t received a new card member bonus for any Sapphire card in the past 48 months.

Note: If you’re currently an authorized user on someone else’s Sapphire cards, you’re still eligible for the welcome bonus. Eligibility is determined based on being the primary cardmember.

There’s also the Chase 5/24 rule. Simply put, Chase will not approve you for a new credit card if you’ve opened five or more new cards, from any bank, in the last 24 months.

Bottom Line

This is the highest welcome bonus ever for this great card. If you don’t have a Sapphire Preferred card, now is the time. Even if you have no immediate travel plans this will set you up nicely for future travel.

For a low $95 annual fee, you get 2x points on travel and dining, an elevated sign-up bonus and valuable travel benefits like primary auto rental collision coverage.

80,000 Ultimate Rewards points are worth a minimum of $1,000 in the Chase travel portal. Alternatively, you can get even more value by transferring to any of Chase’s 13 travel partners.

For more information on Chase’s flexible points program, check out The Complete Guide to Chase Ultimate Rewards®.