The massive Chase Sapphire Preferred card 80,000-point bonus is worth at least $1,000 in travel, but it’s ending very soon

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If you’re interested in achieving your travel bucket list for nearly free, the Chase Sapphire Preferred® Card should be the first travel rewards credit card you open.

For a limited time, the card is offering an increased bonus of 80,000 bonus points after you spend $4,000 on purchases in the first three months from account opening. A bonus that size is worth $800 in cash — or $1,000 in travel booked through the Chase Travel Portal. This offer is slated to end very soon, so now’s the time to apply if it’s been on your radar.

Insider estimates Chase points value to be 1.8 cents each when transferred to airline and hotel partners such as United Airlines, Hyatt, and Air Canada Aeroplan for free flights and hotel stays. In other words, if you transfer this card’s current bonus to Chase travel partners, you’ll get an estimated $1,440 in value.

The Chase Sapphire Preferred comes with a $95 annual fee — but its excellent travel insurance and a handful of statement credits make it a keeper for anyone who makes even a trip or two each year.

Next Step: Chase Sapphire Preferred Review

We’re focused here on the rewards and perks that come with each card. These cards won’t be worth it if you’re paying interest or late fees. When using a credit card, it’s important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.

Chase Sapphire Preferred 80K bonus

The previous welcome offer for the Chase Sapphire Preferred was 60,000 points after meeting minimum spending requirements. That already makes it one of the best credit cards on the market right now, so the fact that this bonus has reached 80,000 points is incredible.

We’ve seen this deal pop up a couple of times before — but it’s rare.

One reason this card’s rewards are so valuable is because of their flexibility. You can:

• Transfer them to 14 different airline and hotel programs for outsized value (sometimes above 2 cents per point)
• “Pay” for travel through the Chase Travel Portal at a rate of 1.25 cents per point
• Cash them out at a rate of 1 cent per point

If you value simplicity over value, purchasing travel through the Chase Travel Portal is a fair deal. You don’t have to worry about things like award availability or blackout dates. But if you want the absolute best value for your points, you should transfer them to airline and hotel partners Here are some examples of what you can do with 80,000 points:

• Receive around $1,120 in airfare by transferring to Southwest (Insider values Southwest points at 1.4 cents apiece, on average)
• Book two round-trip flights to the Caribbean by transferring to United Airlines
• Book a weekend at the Park Hyatt Milan by transferring to Hyatt (regularly more than $1,000+ per night)
• Book three round-trip economy flights to Ireland by transferring to Aer Lingus

Note that you’ll still have to pay taxes and fees for award flights.

Even if your travel goals aren’t chiseled in stone, the Chase Sapphire Preferred earns points that are flexible enough to adapt to your plans.

Next Step: Chase Sapphire Preferred Review

We’re focused here on the rewards and perks that come with each card. These cards won’t be worth it if you’re paying interest or late fees. When using a credit card, it’s important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.

Chase Sapphire Preferred benefits you should know about

So, is this card worth the annual fee once you’ve spent the welcome bonus?

The answer is yes if you put a value of at least $95 on the following benefits:

• Primary car rental insurance (which can save you $13+ per day by allowing you to waive the rental agency’s in-house insurance)
• Powerful trip delay insurance and baggage delay insurance that can each save you up to $500 on a single trip
• Up to $50 in statement credits toward hotel stays booked through Chase
• 10% anniversary point bonus (the dollar amount you’ve spent over the past year x 0.1)
• $10 per month in Gopuff credit through December 2023

Just note that you won’t be eligible for this card if you’ve opened five or more credit cards in the past 24 months from any bank (excluding certain business cards). Also, you can’t open this card if you’ve already got a Sapphire product (even if it’s the Chase Sapphire Reserve®). You’ll have to cancel that card before you can open it again.

Finally, you aren’t eligible for this bonus if you’ve already earned a bonus from a Sapphire card within the past 48 months.

What to know about the Chase Sapphire Preferred welcome bonus

The Chase Sapphire Preferred card is now firmly in the conversation as the travel card with the best bonus on the market. This offer will disappear very soon so if you’ve been on the fence about this card — or about the enchanting world of miles and points in general — now’s the time to take the plunge. You can read our full Chase Sapphire Preferred card review to help you decide if it’s the right fit for your wallet.