60K points + $50 grocery credit on Chase Sapphire Preferred

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The Chase Sapphire Preferred introduced a new & improved welcome bonus today, tossing up to $50 in statement credits for grocery purchases in the first year on top of the standard bonus of 60,000 points after $4K in purchases in the first 4 more.

The Offer & Key Card Details

For more information and to find a link to apply, click the card name below to go to our dedicated card page.

Card Offer and Details
Chase Sapphire Preferred Card
60K Points + up to $50 in statement credits
60K after $4K spend in 3 months + up to $50 in statement credits for grocery purchases within the first year

$95 Annual Fee

This card is subject to Chase's 5/24 rule (click here for details).

Recent better offer: 80K after $4K Spend (Expired 11/9/20)

FM Mini Review: Great signup bonus. Solid option to pair with fee-free Ultimate Rewards cards such as the Freedom cards, Ink Business Cash, and Ink Business Unlimited in order to unlock ability to transfer points to airline and hotel partners.


Card Type: Visa Signature

Base
Travel
Dine
Other

Earning rate: 2X Travel and Dining ⚬ 5X Lyft (through March 2022)

Noteworthy perks: Primary auto rental collision damage waiver ⚬ Free DashPass for at least 1 year (activate by 12/31/21)

See also: Chase Ultimate Rewards Complete Guide

Quick Thoughts

The Chase Sapphire Preferred remains a perennial favorite among rewards enthusiasts because of its excellent welcome bonus and because you need a premium Chase card (like the Sapphire Preferred, Sapphire Reserve, or Ink Business Preferred) in order to be able to transfer points to Chase airline and hotel partners.

Keep in mind several things: First, this card is subject to the Chase 5/24 rule, so you will not be approved if you have opened 5 or more personal credit cards in the past 24 months.

Chase's 5/24 Rule: With most Chase credit cards, Chase will not approve your application if you have opened 5 or more cards with any bank in the past 24 months.

To determine your 5/24 status, see: 3 Easy Ways to Count Your 5/24 Status. The easiest option is to track all of your cards for free with Travel Freely.

Second, this card is subject to the Sapphire 48-month rule, which is to say that you will not be eligible for this welcome bonus if you have received a welcome bonus on a Sapphire Preferred or Sapphire Reserve card within the past 48 months.

Third, while the benefits of the Chase Sapphire Reserve may make more sense than the Sapphire Preferred for many readers in the long-term, we often recommend applying for the Sapphire Preferred initially for its better welcome bonus and then product changing down the road if you prefer the Reserve. That strategy holds true with the current offer.

While the new grocery credit isn’t nearly as good as the 80K offer we saw last fall, there is still no denying that the 60K offer — which could be redeemed for up to $750 in grocery store purchases via Chase Pay Yourself Back — is highly valuable. The additional $50 kicker is just icing on the cake.

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