Personal Finance

Chase Sapphire Preferred Boosts Sign-up Bonus to 80,000 Points

As of Sept. 15, 2020, new applicants will be eligible for the following offer: Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $1,000 toward travel when you redeem through Chase Ultimate Rewards®

The new offer is a 20,000-point boost from the card’s previous sign-up bonus. Points are worth a penny each for cash back, but they take on a value of 1.25 cents each when you redeem for travel through Chase Ultimate Rewards®.

As far as sign-up bonuses go, this offer proves more lucrative than that of its pricier sibling card, the Chase Sapphire Reserve®. That $550-annual-fee card offers the following to new applicants: Earn 50K bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 toward travel when you redeem through Chase Ultimate Rewards® .

Current holders of the Chase Sapphire Preferred® Card should note that its $95 annual fee is not waived in the first year, and that no other product benefits are changing.

The card will continue to earn the following ongoing rewards:

  • 2 points per $1 spent on travel and dining at restaurants.

  • 1 point per $1 spent on all other purchases.

Several other limited-time benefits for the Chase Sapphire Preferred® Card remain in place as well:

  • Through Sept. 30, 2020, the card also earns bonus rewards (up to a cap) on Instacart, at gas stations and on eligible streaming services.

  • Also through Sept. 30, cardholders can redeem points for statement credit against purchases at grocery stores, restaurants and home improvement stores at a value of 1.25 cents per point.

  • Via a partnership with DoorDash, get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash’s subscription service. You must activate this offer by Dec. 31, 2021.

This article originally appeared on NerdWallet