What is the new 80k bonus for Chase Sapphire Preferred?
New Sapphire Preferred cardholders can earn 80,000 bonus points after spending $4,000 on purchases in the first three months from account opening. Plus earn a $50 statement credit on grocery purchases within your first year after account opening.
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The new 80,000-point sign-up bonus represents the biggest welcome offer on the Chase Sapphire Preferred® Card in nearly two years. Chase briefly offered a sign-up bonus of 100,000 points in June 2021 before dropping back down to 60,000 points.
So the 80,000 bonus points are worth $1,000 in travel booked through Chase and it's easy to use your points this way. You just log in to the Chase travel portal and search for flights, hotels, rental cars, cruises or activities.
The Chase Sapphire Preferred® Card does not offer airport lounge access. If that benefit is important to you, then you should opt for the Chase Sapphire Reserve®. That card has a higher annual fee of $550, but offers Priority Pass Select membership which is valued at $469 per year.
Simply put, if you've opened five or more new credit card accounts with any bank in the past 24 months, you will not likely be approved for a new Chase card. The 5/24 rule applies to almost all Chase credit cards, including popular ones like the Chase Sapphire Preferred and Chase Sapphire Reserve®.
This is a relatively new Chase rule, but an important one: You cannot receive a Sapphire sign-up bonus if you've already received a bonus from either version (Preferred or Reserve) within previous 48 months. It's important to note it's 48 months or 4 years from the receipt of the statement with the bonus on it.
If cardholders pay their Chase Sapphire Reserve Card statement balance in full every month, Chase will not charge any interest. Keep in mind that you are not required to pay the entire balance by the due date. But if you decide to pay less than the full amount due, you will lose the grace period.