Chase Sapphire Preferred raised its sign-up bonus to 100,000 points for new cardholders. This limited-time offer applies to applicants who spend $4,000 within three months of account opening.
The card carries a $95 annual fee, unchanged from its previous pricing. At current redemption rates, 100,000 points convert to roughly $1,000 in travel value through Chase's travel portal, or $1,250 if transferred to partner airlines and hotels. That offset covers the annual fee and generates profit for most users.
Chase also introduced new card features alongside the bonus increase. The Sapphire Preferred now earns 3 points per dollar on dining and streaming services, up from 2 points on dining. Grocery purchases earn 2 points per dollar on the first $25,000 annually, then 1 point per dollar after. Travel purchases, including flights and hotels booked through any merchant, continue to earn 3 points per dollar.
The card pairs well with Chase Sapphire Reserve holders, since both cards share the same transfer partners. Reserve holders pay $550 annually but receive $300 in travel credits, making the net cost $250. Sapphire Preferred targets rewards hunters willing to pay a moderate fee for higher earning categories without the Reserve's premium pricing.
Existing cardholders should review whether the updated earning structure justifies their annual fee renewal. The bonus applies only to new applicants or those with no Chase Sapphire Preferred history in the past 24 months.
This offer competes directly with American Express Gold Card (offering 120,000 points) and Citi Prestige (offering 75,000 points). Chase's bonus ranks competitively, though American Express currently leads in raw point value.