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Updated: September 15, 2020 1:13 PM ET | Originally published: March 20, 2019
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The Chase Sapphire Preferred card is an incredibly popular travel rewards credit card. But after the arrival of COVID, Chase has introduced new rewards and benefits that go well beyond travel.

And to get your attention, Chase just increased its welcome bonus for the Sapphire Preferred, paying out $800 cash back or $1,000 in everyday or travel rewards once you meet spending thresholds. While the Chase Sapphire Preferred has an annual fee of $95, you’ll find the rewards are well worth it.

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About the Sapphire Preferred

The Chase Sapphire Preferred card is the lower-cost cousin of the Sapphire Reserve, but it’s shaking up the travel rewards credit card landscape with a new welcome bonus that’s even better than i’s premium relative, with its $550 annual fee. Chase has just upped the Sapphire Preferred signup bonus, from 60,000 points to 80,000 points, when you spend at least $4,000 on the card within the first three months of account opening.

This card offers double points for dining and travel purchases, including parking and tolls. New this year, you’ll also earn 3X points on Instacart, plus $50 in statement credits towards yearly or monthly Instacart Express members. Other new ways to earn points include 3X points on gas and 5X points Lyft rides and on some streaming services

Also new are non-travel ways to redeem your rewards. You’ll receive 25% more value when you redeem your points for purchases in everyday categories (currently, grocery, dining, and home improvement). This is in addition to the 25% more you receive for redeeming your points for travel reservations made through Chase, including rental cars and activities.

Bottom line

Changing times call for new credit card offers that keep up with the times, and Chase is showing its ability to do just that. By offering one of the most valuable welcome bonuses available, Chase is hoping you’ll take notice of the Sapphire Preferred, and everything new that it offers.

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Advertiser Disclosure

Money has partnered with CardRatings.com and ConsumersAdvocate.org, among other companies, for our coverage of credit card products. Money, CardRatings.com, and ConsumersAdvocate.org may receive a commission from card issuers. For example, Money receives a commission from Citi when you apply and are approved for a Citi product through the links on this site.

Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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