What the Chase Sapphire Preferred bonus actually is

Chase offers a sign-up bonus on the Sapphire Preferred card that gives you points when you meet a spending requirement within a set timeframe. The bonus structure changes periodically — sometimes it's 60,000 points after you spend $4,000 in the first three months, sometimes it's different. You should check Chase's current offer on their website or by calling 1-800-935-9935 before you open an account, because the bonus amount and spending requirement vary.

The points you earn from the bonus go into your Chase Ultimate Rewards account. You can redeem them for travel purchases (flights, hotels, rental cars), transfer them to airline and hotel partners, or use them for cash back. The redemption value depends on how you use the points — a point is worth more when you book travel through Chase's portal than when you convert it to cash.

This bonus is only available to people who don't already hold or haven't recently held a Sapphire Preferred card. Chase has specific rules about how long you must wait between closing one card and opening another to be may be able to access for the bonus again.

Key Takeaways

  • The sign-up bonus requires you to spend a certain amount within three months of opening the account — check Chase's website for the current bonus offer before you explore.
  • Points from the bonus can be redeemed for travel bookings, transferred to airline partners, or converted to cash, with different redemption values for each option.
  • You must not have held a Sapphire Preferred card in the past 24 months to be may be able to access for the bonus.
  • The bonus posts to your account once you meet the spending requirement, usually within one to two billing cycles.

How the spending requirement works

When you open a Sapphire Preferred card, you have a set window — typically three months — to spend a minimum amount. Only purchases count toward this requirement; fees, balance transfers, and cash advances do not. The spending requirement is usually between $4,000 and $5,000, but you should verify the current amount on Chase's website.

The spending is tracked automatically. You don't need to register or notify Chase that you're working toward the bonus. Once you cross the threshold, the bonus points post to your account within one or two billing cycles. If you don't meet the spending requirement by the important date, you don't receive the bonus, and there's no second chance on that particular offer.

Some people plan large purchases — travel, home repairs, insurance premiums — around opening a new card to meet the requirement without changing their spending habits. Others use the card for everyday expenses and reach the threshold naturally over three months.

When the bonus points appear in your account

After you meet the spending requirement, Chase typically posts the bonus points within one or two billing cycles. This is not when ready. If you spend $4,000 on day 45 of your account, the points may not show up until your next statement closes, which could be weeks later.

Once the points are in your Ultimate Rewards account, they don't expire as long as your account remains open. You can hold them indefinitely and redeem them whenever you choose. If you close the card, you keep the points — they stay in your Ultimate Rewards account and you can still use them.

How to redeem the bonus points

Chase Ultimate Rewards points can be used in three main ways. First, you can book travel directly through Chase's travel portal — you log into your account, search for flights or hotels, and pay with points. The redemption rate varies by booking, but Chase typically values points at 1 cent each or slightly higher for premium travel.

Second, you can transfer points to airline and hotel partners. Chase has partnerships with airlines like United, Southwest, and American, and hotels like Hyatt and Marriott. Transfer rates vary — sometimes you get a 1:1 transfer, sometimes better or worse depending on the partner and promotion. Transferred points often have more value than points used in the Chase portal, but only if you know how to use them strategically.

Third, you can convert points to cash back. This is the least valuable option — Chase typically gives you 0.8 cents per point when you redeem for cash, meaning your 60,000-point bonus is worth $480 in cash. Most people who earn travel card bonuses avoid this option.

may be able to access rules and timing between cards

Chase has a rule called the 24-month rule: you cannot receive a sign-up bonus on the Sapphire Preferred if you've held or opened that card in the past 24 months. This is measured from when you opened the previous card, not when you closed it. If you opened a Sapphire Preferred on January 15, 2023, you cannot get the bonus again until January 15, 2025, even if you closed the card in 2023.

Chase also has a 5/24 rule that affects approval odds, though it's not a hard may be able to access requirement. If you've opened five or more credit cards with any bank in the past 24 months, Chase may deny your process. This rule is about overall credit-seeking behavior, not specific to the Sapphire Preferred.

There is no rule preventing you from holding multiple Chase Sapphire cards at once — you could hold a Sapphire Preferred and a Sapphire Reserve simultaneously. However, you can only earn the sign-up bonus once per card per 24-month period.

What happens if you don't meet the spending requirement

If the three-month window closes and you haven't spent the required amount, the bonus straightforward doesn't post. There's no penalty — you keep the card, you keep any points you've earned from regular purchases, and you can continue using it. You just don't receive the sign-up bonus.

You cannot retroactively earn the bonus by spending the amount later. The important date is fixed. If you're close to the requirement with a few days left, you can make additional purchases to push over the threshold, but once the window closes, it's closed.

Some people choose to close the card if they don't think they'll meet the requirement and don't want to pay the annual fee. The Sapphire Preferred has an annual fee (currently $95), which is charged after your first year. If you close the card before the fee posts, you can avoid paying it.

Annual fee and whether the bonus offsets it

The Sapphire Preferred charges an annual fee that posts after your first year of membership. The current fee is $95. This means the bonus you earn on day one doesn't cover the fee you'll pay on your anniversary — you need to use the card and earn additional rewards to make the annual fee worthwhile.

Many people calculate whether the card makes sense by estimating their annual spending and the rewards they'll earn. If you spend $10,000 per year on the card and earn 2 points per dollar on travel and dining, you'd earn 20,000 points annually from spending alone, plus the sign-up bonus. At 1 cent per point minimum, that's $200 in value against a $95 fee.

Others keep the card specifically for the sign-up bonus, use it to meet the requirement, and then close it before the annual fee posts. This is a valid strategy if you don't plan to use the card regularly. Just remember the 24-month rule — you won't be able to earn the bonus again for two years.

Frequently Asked Questions

Can I get the bonus if I already have a Chase Sapphire Reserve?

Yes. The 24-month rule applies separately to each card. You can hold both cards at the same time, and you can earn the Sapphire Preferred bonus even if you currently hold a Reserve. However, you cannot earn the Sapphire Preferred bonus again within 24 months of opening a previous Sapphire Preferred.

Do I have to use the card after I meet the spending requirement?

No. Once you meet the spending requirement and the bonus posts, you can stop using the card. You can keep it open to avoid closing it and losing the points, or close it before the annual fee posts if you don't plan to use it. The points remain in your Ultimate Rewards account either way.

What if I spend the required amount but the bonus doesn't post?

Contact Chase customer service at 1-800-935-9935 with your account number and statement showing the spending. Chase can verify whether the requirement was met and investigate if the bonus failed to post. Keep records of your purchases in case you need to provide documentation.

Can I transfer the bonus points to someone else?

No. Ultimate Rewards 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 bonus taxable income?

Chase does not issue a tax form for sign-up bonuses on credit cards. The IRS generally does not treat credit card rewards as taxable income. However, tax law can be complex and depends on your specific situation. If you have questions about whether the bonus affects your taxes, consult a tax professional.