My longtime favorite card for earning miles and points, the Chase Sapphire Preferred, has just raised its signup bonus offer. For a limited time you can earn 50,000 points (usually 40,000, which is also good) upon getting the card and completing a minimum spend.
As I’ve explained before, different cards are good for different reasons. Some cards are great for big bonuses, but after that it’s best to put them in the drawer and reserve your spending for other cards. Other cards are good for category spending, where you can earn 5x points at office supply stores or other particular merchants.
But if you can only get one card and not worry about keeping up with a bunch of stuff, this is the best overall recommendation—and now you can earn extra points just for getting it.
What Can You Do with 50,000 Ultimate Rewards points?
You can actually do a lot of things. I’m heading out on a short trip today that was paid for entirely with Ultimate Rewards points. More on that later, but for now…
1. Transfer to United or Southwest for two free domestic flights
You can go anywhere in North America twice, round-trip. Or you can take a companion round-trip. Or if you prefer, you can take one trip in First Class—just not on Southwest, since they don’t have First Class. The point is that the points transfer on a 1:1 basis to either airline, and you can then use them however you want.
2. Transfer to Singapore Airlines for a flight to Asia
Even better: Singapore Airlines is one of my favorite carriers. I recently traveled First Class from Hong Kong to San Francisco. My cost was less than $200 in taxes after I transferred all of the required Ultimate Rewards points to make the booking.
You don’t have to fly in Seat 1A (though it’s awesome, it does take more than 50,000 points), but you can still use 50,000 points to get all the way to Asia.
3. Transfer to Hyatt hotels for up to 10 free nights
The very best Hyatt hotels in the world are $900+ or 30,000 points a night, meaning that you can stay for one night at the Park Hyatt Zurich, Park Hyatt Sydney, or any other number of properties and still have 20,000 points left over.
Also, many other excellent properties are less than 30,000 points. In fact, more than 300 Category 1 Hyatts can be booked for just 5,000 points a night, meaning that you can stay up to 10 nights just from the signup bonus earned from this card.
4. Save them for a rainy day
If you don’t have an immediate use for the points, you can also just hang on to them for a while, because unlike airline miles, these points don’t devalue very often. There are so many transfer partners that you’ll always have good options to use the points.
The card offers other benefits, too:
- Primary car rental insurance (never pay for that again)
- No foreign transaction fees (use your card anywhere in the world without paying a fee)
- You’ll earn 2X points on travel and dining at restaurants (very helpful the next time you visit 12 restaurants in one day)
- You can also use your Ultimate Rewards points to book free travel directly with Chase (although you can usually get better value by transferring to partners first)
The bottom line is that this is a great card. If you’re eligible for U.S. credit cards (you don’t have to live in the U.S., but you do need a U.S. Social Security Number) and for some reason you haven’t got it before, now’s a great time to do so and get extra points.
Link: Earn 50,000 Ultimate Rewards Points
This offer is available for new cardholders only—unfortunately you can’t get another card if you’re like many of us who already have it. If that’s the case, tell your friends and make sure they get their points. 🙂
Oh, and there’s one more new offer that just went up as well—for a limited time, you can also earn a $150 statement card when getting the Chase Freedom card. The good thing about this card is that it offers quarterly category bonuses (including purchases at Amazon.com this quarter). If you have the Sapphire Preferred, you can combine points into a single Ultimate Rewards account.
So basically, it’s like getting even more points.