What the Sapphire Preferred bonus offers right now
The Chase Sapphire Preferred currently offers a sign-up bonus of 60,000 points if you spend $4,000 on purchases within the first three months of opening the card. Those 60,000 points are worth at least $600 when redeemed for cash back, or potentially more if you use them for travel bookings through Chase's travel portal. The card also charges an annual fee of $95, which you pay in the first year and every year after.
The bonus itself does not require you to carry a balance or make ongoing payments beyond the initial spending requirement. Once you hit $4,000 in purchases within three months, the points post to your account automatically, usually within one or two billing cycles. You then decide how to use them — cash, travel, or transfers to partner airlines and hotels.
Key Takeaways
- The current sign-up bonus is 60,000 points, earned by spending $4,000 in the first three months after you open the card.
- Those points are worth at least $600 in cash back, or more if redeemed for travel through Chase's portal.
- The card charges a $95 annual fee starting in year one, so you need to decide whether the bonus and card benefits justify that cost.
- Points post automatically once you meet the spending requirement; you do not need to take any additional action to claim them.
- Chase occasionally changes the bonus amount and spending requirement, so the offer you see may differ from what is listed here.
How to meet the $4,000 spending requirement
The $4,000 threshold counts only new purchases you make with the card — it does not include balance transfers, cash advances, or fees. Most people meet this requirement by putting regular monthly spending on the card: groceries, gas, utilities, subscriptions, and online shopping all count.
If your normal monthly spending is around $1,000 to $1,500, you will hit $4,000 in roughly three months without changing your habits. If you spend less, you might plan a larger purchase (appliances, travel, home repairs) during those first three months, or time the card opening to coincide with a period when you know you will be spending more. Some people also pay bills or make other planned purchases with the card to reach the threshold faster, though you should only do this if you can pay off the balance when ready — carrying a balance costs more in interest than the bonus is worth.
What the 60,000 points are actually worth
Chase guarantees that 60,000 Sapphire Preferred points are worth at least $600 when you redeem them for cash back (that is 1 cent per point). However, the points are worth more — often 1.5 cents per point or higher — when you use them to book travel through Chase's travel portal or transfer them to airline and hotel partners.
For example, if you book a $900 flight through the Chase portal using 60,000 points, you are getting 1.5 cents per point, which means your points are worth $900 rather than $600. The exact value depends on what you book and which partner you transfer to. If you do not plan to travel or use the portal, redeeming for cash back at $600 is a straightforward option, but you lose the potential for higher value.
Keep in mind that the $95 annual fee reduces your net benefit. If you redeem for $600 cash back, your actual gain after the first year is $505. If you use the points for travel and get $900 in value, your net gain is $805. This is why the card makes more sense for people who travel regularly or plan to use the travel portal.
When the bonus posts and how to track it
After you meet the $4,000 spending requirement, Chase typically posts the 60,000 points within one or two billing cycles. You can check your progress by logging into your Chase account online or through the mobile app — the app shows your current spending toward the bonus under the card details section.
Once the points post, they appear in your account balance when ready and do not expire as long as your account remains open. You can redeem them at any time after they arrive; there is no rush to use them right away. If your account is closed, any remaining points are forfeited, so keep that in mind if you are thinking about canceling the card after the first year.
The annual fee and whether it makes sense for you
The $95 annual fee is not waived in the first year — you pay it when you open the card. This means the bonus needs to be worth more than $95 to you for the card to make financial sense in year one. Since the bonus is worth at least $600, the math works out, but you should also think about year two and beyond.
In the second year and every year after, you pay the $95 fee again. The card does offer some benefits that can offset this cost: you earn 2 points per dollar on travel and dining purchases, and 1 point per dollar on everything else. If you spend heavily on travel and dining, those rewards can add up to more than $95 per year. If you do not travel much or eat out frequently, the card may not be worth keeping after the first year, and you might cancel it once the bonus is spent.
How the Sapphire Preferred compares to other Chase cards
Chase offers several other cards with different bonuses and annual fees. The Chase Sapphire Reserve, for example, has a higher annual fee ($550) but a larger sign-up bonus and additional travel benefits. The Chase Freedom Unlimited has no annual fee but a smaller sign-up bonus. The choice depends on your spending habits and whether you value travel benefits.
If you are comparing the Sapphire Preferred to other premium travel cards from other banks, look at the total value you expect to get in the first year: the sign-up bonus plus any rewards on your regular spending, minus the annual fee. The Sapphire Preferred's 60,000-point bonus and 2x points on travel and dining make it competitive for people who travel or dine out regularly, but it is not the best choice for everyone.
What happens if you do not meet the spending requirement
If you do not spend $4,000 within three months, the bonus straightforward does not post. There is no penalty or fee for missing the requirement — you just do not receive the 60,000 points. You still own the card and can use it normally, but you lose the primary reason you opened it.
If you realize you will not hit the threshold, you have a few options. You can close the card and try again later (though Chase has rules about how often you can open new cards and receive bonuses). You can keep the card open and try to meet the requirement in a later period, though the bonus will not post retroactively. Or you can keep the card and use it for its ongoing rewards, though the $95 annual fee makes this less attractive unless you spend a lot on travel and dining.
Frequently Asked Questions
Can I get the bonus if I already have a Chase Sapphire card?
Chase has rules about how often you can receive a bonus on the same card. Generally, you must wait at least 48 months (four years) after receiving a bonus on any Sapphire card before you can receive another one. If you have had the Sapphire Preferred or Reserve in the past, you may not be able to open a new one and get the bonus right away.
Do I have to use the points within a certain time?
No. Once the 60,000 points post to your account, they do not expire as long as your account stays open. You can redeem them when ready or wait months or years. If you close the card, any remaining points are forfeited, so keep the account active if you want to preserve them.
What if I return purchases I made to meet the spending requirement?
Returns reduce your spending total. If you spent $4,000 to meet the requirement and then returned $500 worth of purchases, your spending would drop to $3,500. If this happens before the bonus posts, you may not meet the threshold. Most people avoid this by waiting until after the bonus posts to return items.
Can I transfer the points to someone else?
No. Chase Sapphire Preferred points are tied to your account and cannot be transferred to another person. You can use them for your own travel, cash back, or transfers to partner programs, but you cannot give them to a family member or friend.
Is the $95 annual fee worth it if I only want the bonus?
The bonus is worth at least $600, so yes, the fee is worth it in year one. In year two, you need to decide whether you will use the card enough to earn back the $95 fee through rewards on travel and dining. If not, you can cancel the card after the first year without penalty.