Chase Sapphire Preferred has a 100K-point bonus right now. Here are 3 ways you could use it
The Chase Sapphire Preferred® Card, one of the most popular travel credit cards, recently launched a limited-time welcome bonus offer. New cardholders can earn 100,000 bonus points after spending $5,000 in the first three months with the card.
If you redeem the bonus through Chase TravelSM, your points will be worth 1.25 cents apiece, meaning you’ll get at least $1,250 in value. If you transfer these rewards to Chase travel partners, you can stretch this value even further. It’s a bit more complicated to do, but it gets you a lot more value.
From flying first class to vacationing at a luxurious resort, to booking a long budget-friendly trip, the new welcome bonus presents plenty of options for those who earn it. Here are three ideas for how you can spend 100,000 Ultimate Rewards points.
A first-class round-trip flight to London
Transferring your Ultimate Rewards points is often the best way to maximize their value. And as far as Chase transfer partners go, Virgin Atlantic Flying Club might give you the most bang for your buck. The average point value for Virgin points is 2.6 per piece, according to Bankrate valuations. That means a transferred 100,000-point bonus could yield $2,600 in value.
With 100,000 Virgin points, you could snag a round-trip flight to London — and if you’re lucky, you might even have enough for Upper Class, Virgin’s version of first class. This elevated experience includes extra-large leather seats that transform into a fully flat bed, a four-course fine dining experience, two free checked bags and access to Virgin Atlantic Clubhouses. You even get a glass of bubbly when you board to feel truly VIP.
I checked the airline’s reward seat checker and found Upper Class seats for as little as 32,000 points.
These deals sell out quickly, so you’ll need to be on top of your game to secure this kind of price. Note that you’ll also pay taxes in cash, which can amount to a few hundred dollars.
Four nights at a beach villa in the Maldives
A generous credit card bonus is a perfect excuse to treat yourself to a luxurious getaway that may be out of reach otherwise. For that purpose, World of Hyatt is an excellent choice of Chase transfer partner. We estimate Hyatt points to be worth about 2.3 cents apiece, making it one of the issuer’s top travel partners. That’s $2,300 in potential value with a 100,000-point bonus.
For example, how about a 1,776-square-foot villa with direct access to an idyllic beachfront in the Maldives? Think floor-to-ceiling windows, a private deck with sunbeds and an outdoor terrazzo bathtub and rain shower area. All this is available at the Park Hyatt Maldives Hadahaa when you book one of its Beach Villas.
I checked the rates for a few dates and found that you could do a weekend in October for as little as 25,000 per night. That means the Chase Sapphire Preferred bonus could get you up to four nights at this beautiful property. To compare, regular rates for the same dates start at $1,099 per night.
A week-long vacation in Orlando
If you’d rather be frugal with your rewards, you can pay for an entire vacation with your Chase points — and have some left over, too. To do that, you’ll need to search for the lowest-cost airfares and affordable accommodations.
For example, say you live in New York City, which is one of JetBlue’s hubs. JetBlue TrueBlue is also a Chase transfer partner. You’ll get decent value out of this transfer — 1.3 cents per point on average, per Bankrate valuations.
For 5,800 points, you can fly from New York City to Orlando for a week-long vacation in July, according to the airline’s best fare finder.
Now, you’ll need to find a hotel. Since World of Hyatt offers outstanding value for point transfers, it’s a good place to look. For example, you could get six nights at the Hyatt House across from Universal Orlando Resort for just 12,000 points per night. That’s compared to the average rate for members at $151 per night.
All in all, such a vacation would cost you 77,800 points, meaning you’ll have 21,200 points left from your welcome bonus. With some flexibility and planning, this amount might be enough for another couple of flights — or more.
The bottom line
The current welcome bonus on the Chase Sapphire Preferred is rare in its value. Whether you’re after luxurious experiences or maximized savings, 100,000 Ultimate Rewards points is enough to fund a variety of travel experiences. Such offers don’t come up on the market frequently. If you’re considering the card, now might be the perfect time to apply.
Once you earn the bonus, you can stretch its value by transferring your points and looking for deals at the issuer’s travel partners. Chase Travel is less likely to offer deals, but you’ll still get decent value out of your rewards at 1.25 cents per point. Research your options to put your points to good use — and safe travels!
