The Chase Sapphire Preferred has long been among the top travel credit cards, and as the coronavirus pandemic cools off in the U.S. and the tourism industry heats up, now may be a better time than ever to apply. Chase is currently offering its best-ever sign-up bonus on the card—100,000 points when you meet a minimum spending requirement.

Key Takeaways

  • Chase has boosted the Sapphire Preferred card's sign-up bonus to encourage new applications.
  • New cardholders can earn a whopping 100,000 bonus points, which is the best bonus the card has ever offered.
  • But, as with any credit card, consumers should consider their normal spending habits and long-term plans before jumping on a new sign-up bonus.

How to Earn 100,000 Ultimate Rewards Points

For a long time, the standard sign-up bonus on the Sapphire Preferred was 60,000 points. In May, Chase increased the bonus to 80,000 points and has now raised it again, this time to 100,000 bonus points. 

That's 67% higher than the standard bonus and, according to a Chase spokesperson, it's the highest the card has ever offered. 

New cardholders will earn the bonus rewards when they spend $4,000 in their first three months with the account.

The points are worth $1,250 when you redeem them for travel booked through Chase. Alternatively, you can get $1,000 worth of cash back, gift cards, and some other redemption options. The bank also has a list of 13 airline and hotel partners to which you can transfer your points to get more flexibility with your travel reservations.

Should You Apply for the Sapphire Preferred card?

As with any credit card sign-up bonus, it's important to consider both your normal spending habits and long-term plans before applying.

For starters, the card requires that you spend $4,000 in the first three months to qualify for the incentive, or roughly $1,333 per month. If you can meet that without changing your spending habits, the card could be worth it. But if you'll need to spend more than you can afford, the bonus becomes less valuable. 

It's also crucial to look at more than just the sign-up offer when considering a new credit card. If you plan on using the card regularly, even after you earn the bonus, it might be a good fit. But if you're just looking for a sign-up bonus, take some time to shop around to find a card that will give you the most value in rewards and other perks in the long run.