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The Chase Sapphire Preferred has been one of the most popular rewards credit cards available for almost a decade, thanks to benefits like bonus points on travel and dining purchases and the ability to transfer points to more than a dozen airline and hotel partners.
As travel starts its road to recovery in 2021, now is a great time to work on earning welcome bonuses to cash in down the line: The Chase Sapphire Preferred is currently offering a welcome bonus of 60,000 points after you spend $4,000 in the first three months.
That sounds like a lot of points, but what does it actually get you? We’re going to look at a few different ways you can redeem 60,000 Chase Ultimate Rewards points for travel so you reap the most value from them.
In case you are looking to stock up on Ultimate Rewards points with different cards, the Chase Sapphire Reserve is offering 50,000 bonus points after you make $4,000 in purchases in the first three months. In addition to a higher annual fee of $550, it also offers premium perks like airport lounge access, $300 in annual travel statement credits, up to $120 off DoorDash orders in 2021, and a Global Entry or TSA Precheck application fee statement credit every four years.
Learn more about applying for the Chase Sapphire Reserve here.
Chase also offers a credit card for small businesses that earns Ultimate Rewards points called the Ink Business Preferred. Its sign-up bonus is currently 100,000 bonus points after spending $15,000 in the first three months. The Ink Business Preferred earns three points per dollar on up to $150,000 spent each year on travel, shipping, cable, phone, internet, and advertising purchases. Its annual fee is $95, which is the same as the Chase Sapphire Preferred.
Learn more about applying for the Chase Ink Business Preferred here.
Below, everything to get you started on redeeming your Chase Sapphire Preferred welcome bonus.
What are Ultimate Rewards points?
First, a quick primer on Ultimate Rewards points, and how you can use them. Depending on the Chase card you carry, you can either redeem your Ultimate Rewards points as cash back for purchases, including travel bookings, or you can transfer them to 13 partner programs. They include:
Airline Partner Programs
· Aer Lingus AerClub
· Air France/KLM Flying Blue
· British Airways Executive Club
· Emirates Skywards
· Iberia Plus
· JetBlue TrueBlue
· Singapore Airlines KrisFlyer
· Southwest Rapid Rewards
· United MileagePlus
· Virgin Atlantic
Hotel Partner Programs
· World of Hyatt
· IHG Rewards Club
· Marriott Bonvoy
Ultimate Rewards points convert to the points or miles of all these programs at a ratio of 1:1, and for the most part, transfers take place instantly. You just have to link your Ultimate Rewards account to your individual frequent flier and hotel points profiles and you can transfer at will.
The other main way to redeem Ultimate Rewards points for travel is to log into the Chase travel portal, which is powered by Expedia. If you have the Chase Sapphire Preferred or Ink Business Preferred, your points are worth 1.25 cents apiece toward flights, hotel reservations, car rentals, tours and cruises. Those with the Chase Sapphire Reserve get 1.5 cents per point in value.
