Unaffiliated Disclosure: All information on this card was collected independently by US Credit Card Guide and has not been reviewed by the issuer.
Update 2024.10: The new offer is 60,000+$300. Its value is similar to the $80,000 offer. It’s a decent offer but not historically the highest. (Updated) There is an offer of 70,000 + $300 in agency only, and its spending requirement is higher: $6,000 in 6 months.
Update 2024.6: The superior offer has expired. Current offer is 60k.
Update 2024.5: The online offer is now 75k, and 85k in agency.
Link to offer
Benefits
- 60,000 + $300 Offer: Earn 60,000 Ultimate Rewards (UR) points after spending $4,000 in the first 3 months. Plus, get up to $300 in statement credits on Chase Travel purchases in your first year. The best recent offer is 100,000.
- We estimate that Ultimate Rewards (UR) points are worth approximately 1.6 cents/point, see below for a brief introduction. So the highest signup bonus of 100,000 is worth around $1,600!
- If you have this card, you can transfer your UR points to partner airline miles and hotel points.
- Points earning rate:
- (New) Earn 5x UR points on travel booked through the Chase Travel portal.
- (New) Earn 3x on dining, select streaming services, and online grocery shopping (excludes Target, Walmart, and wholesale).
- Earn 2x UR Points on other travel purchases. Chase is known for being quite flexible in its definition of travel and includes merchants such as Uber and some public transportation.
- Earn 1x UR Point per dollar spent on all other purchases.
- (New) $50 annual hotel credit per cardholder year. Must be booked through the UR portal. The new cardholder can use this credit now. Existing cardholders should be able to use it after their card anniversary.
- (New) 10% bonus points per year. After the card anniversary, you’ll receive 10% bonus points based on total spending on your Sapphire Preferred card over the last year. For example, if you spend $30,000 in total, you will get 3,000 bonus points.
- “Pay Yourself Back”: You can redeem UR points for statement credits against existing purchases in select, rotating categories, at a flat rate of 1.25 cents/point. You can also use your UR points at a flat rate of 1.25 cents/point on the Chase UR travel portal. However, with CSR, the redemption rate is 1.5 cents/point, so it is more recommended to use CSR to redeem UR points this way.
- Primary car rental insurance.
- (Limited Time) Earn 5% Cash Back on Lyft, through 2025.03. Here is the official link for this promotion.
- (Limited time) Free DashPass (Doordash subscription) for 12 to 24 months. Activation required before 12/31/2024. Here is the official link for this promotion.
- No foreign transaction fees.
- Refer a friend: You can earn 15,000 bonus UR points for each approved account you refer, up to a maximum of 75,000 UR points per calendar year.
Disadvantages
- $95 annual fee, NOT waived for the first year.
Introduction to UR Points
- You can earn UR points with Chase Freedom Student, Chase Freedom, Chase Freedom Unlimited (CFU), Chase Sapphire Preferred (CSP), Chase Sapphire Reserve (CSR), Chase Ink Cash (Business), Chase Ink Unlimited (Business), Chase Ink. Favorite (Business), etc.
- You can move your UR points from one UR card to another at any time.
- UR points never expire. You will lose the UR points on a card if you close the account, but you can avoid losing your UR points by moving the points to another UR card first.
- If you have Chase Sapphire Preferred (CSP), Chase Sapphire Reserve (CSR), or Chase Ink Preferred (Business), UR points can be transferred to certain hotel points. One of the best ways to use UR points is to transfer 1:1 to Hyatt points. UR points can also be transferred to certain airline miles. One of the most common and best ways to use UR points is to transfer them 1:1 into United Airlines (UA) (Star Alliance) miles and combine them with UA miles earned through the UA Card. Other good options are: Southwest (WN) (Non-alliance), British Airways (BA) (Oneworld), Virgin Atlantic (VS) (Non-alliance), etc. If you use UR points this way, the value is approximately 1.6 cents/point.
- If you have Chase Sapphire Reserve (CSR), you can redeem your UR points at a flat rate of 1.5 cents/point for airline tickets or hotels on the UR travel portal; If you have Chase Sapphire Preferred (CSP) or Chase Ink Preferred (Business), you can redeem your UR at a flat rate of 1.25 cents/point for airline tickets or hotels on the UR travel portal.
- If you have one of the UR cards, you can exchange your UR points at a fixed rate of 1 cent/point for cash.
- In summary, we estimate that UR points are worth approximately 1.6 cents/point.
- For more information on UR Points, see Maximizing Credit Card Point Values (Overview) and Introduction to UR: How to Earn and Introduction to UR: How to Use It (Very Detailed).
Recommended application time
- (5/24 Rule) If you have opened 5 or more new accounts in the last 24 months, Chase will not approve your application on this card, regardless of your credit score. The number of new accounts includes all credit card accounts, not just Chase accounts. See this article for more details on how to possibly bypass this rule.
- The product is not available to (i) current cardholders of any Sapphire credit cardor (ii) former cardholders any Sapphire credit card who received a new cardholder bonus in the last 48 months. Note that this 48-month clock starts from the time you last received the sign-up bonus, not from the time you open or close the account.
- Don’t apply for more than 2 Chase credit cards within 30 days, there’s a good chance you’ll be rejected.
- We recommend applying for this card after having other Chase credit cards for at least 3 months, or after having a credit history for more than a year.
Summary
Although its spending rewards structure looks bad these days, CSP (or CSR) remains a must-have card for the UR points system because with CSP (or CSR) you can transfer UR points to partners to maximize their value . The registration bonus is really attractive! However, you can now only choose between CSP and CSR over a 48-month period. And don’t forget the 5/24 rule. We really have to choose between CSP and CSR!
Related credit cards
Recommended downgrade options
- Hunt freedom. Even if you already have a Freedom, you can always downgrade your CSP to have a second Freedom.
- Chase Freedom Unlimited (CFU).
- Hunt Sapphire. If you are unable to downgrade your card to the correct cards above, you can downgrade it to this card and try to change products in the future.
After applying
- Call 800-436-7927 to check Chase application status. This is an automated phone line and the information has the following meanings: Receiving the decision in 2 weeks means your application is likely approved; Receiving the decision in 7-10 days means your application is likely rejected; Receiving the decision in 30 days simply means that your application requires further review and there is nothing to tell you at this time.
- Prosecution Review Backdoor Number: 888-270-2127 or 888-609-7805. Call them if you didn’t get approval right away. Your personal information will be acquired and they will then review it. You rarely answer questions, you just enjoy the music and then you are approved or rejected, or additional information has to be given to the agency or faxed.
Historical Offers Chart
Link to offer
Editorial Disclosure: The opinions expressed here are the author’s alone, and not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included in the publication.
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