Chase Sapphire Preferred’s Welcome Bonus Offer History [Since 2020]

Updated: November 15, 2024, 1:54am CST

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When To Apply for the Chase Sapphire Preferred Card
Chase Sapphire Preferred Card Benefits
Final Thoughts

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The Chase Sapphire Preferred^® Card fits the bill for many travelers. With powerful rewards, a flexible range of redemption opportunities, and a modest $95 annual fee, it’s no wonder this popular travel card remains a mainstay in many wallets.

Plus, new applicants can earn a welcome bonus offer, making the Chase Sapphire Preferred card that much more compelling. Let’s look at the card’s previous welcome bonus offers in recent years, as well as the current welcome bonus offer.

When To Apply for the Chase Sapphire Preferred Card

The Chase Sapphire Preferred card is one of several cards that participate in the Chase Ultimate Rewards program, in which there are many ways to redeem your points for travel. With the Chase Sapphire Preferred card, points are worth 1.25 cents apiece for bookings through Chase Travel.

Alternatively, cardholders can transfer their points to 11 airline and 3 hotel partners at a straightforward 1:1 ratio. The value will vary greatly, but the team at Upgraded Points loves to redeem Ultimate Rewards points for business class flights and luxury hotels for a fraction of the true cash cost.

That’s why we value Chase points around 2 cents apiece, though you can often get a much higher value with strategic redemptions.

Iberia A350 business class seat in fully lie flat position 2 — You can transfer 34k Chase points to Iberia Avios to book this seat to Madrid! Image Credit: Daniel Ross

That said, the standard welcome offer on the Chase Sapphire Preferred card is:

Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.

As you’ll see below, variations of this welcome offer have been available for new applicants for some time.

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Offer Date	Welcome Offer Details	Value*
Current Offer	Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.	$1,200
September 2024 to November 2024	Earn 60,000 bonus points and a $300 Chase Travel credit after spending $4,000 in the first 3 months.	$1,500
June 2024 to September 2024	Earn 60,000 bonus points after spending $4,000 in the first 3 months.	$1,200
May 2024 to June 13, 2024	Earn 75,000 points after spending $4,000 on purchases in the first 3 months.	$1,400
May 2023 to April 2024	Earn 60,000 bonus points after spending $4,000 in the first 3 months.	$1,200
April 2023 to May 2023	Earn 80,000 bonus points after spending $4,000 in the first 3 months.	$1,600
June 2022 to March 2023	Earn 60,000 bonus points after spending $4,000 in the first 3 months.	$1,200
April 2022 to May 2022	Earn 80,000 bonus points after spending $4,000 in the first 3 months.	$1,200
October 2021 to April 2022	Earn 60,000 bonus points after spending $4,000 in the first 3 months.	$1,200
June 2021 to October 2021	Earn 100,000 bonus points after spending $4,000 in the first 3 months.	$2,000
March 2021 to June 2021	Earn 80,000 bonus points after spending $4,000 in the first three months of account opening. Plus, earn a $50 statement credit on grocery store purchases.	$1,650
November 2020 to March 2021	Earn 60,000 bonus points after spending $4,000 in the first 3 months.	$1,200
September 2020 to November 2020	Earn 80,000 bonus points after spending $4,000 in the first 3 months.	$1,600
March 2019 to September 2020	Earn 60,000 bonus points after spending $4,000 in the first 3 months.	$1,200

*Value is determined based on our valuations of points and miles and are not provided by the issuer.

Bottom Line:

It’s been nearly 3 years since Chase offered the unprecedented 100,000-point welcome bonus offer. While we’re unsure if (or when) this welcome offer will ever come back, you can still get plenty of value from the current elevated welcome offer. After all, you’re leaving points on the table by waiting for a better offer to come back.

Chase Sapphire Preferred Card Benefits

There are many worthwhile rewards and benefits on the Chase Sapphire Preferred card, including;

5x points on travel purchased through Chase Travel; 3x on dining, select streaming services and online groceries; 2x on all other travel purchases; 1x on all other purchases
$50 annual Chase Travel hotel credit
Trip cancellation and interruption insurance, primary rental car insurance, lost luggage insurance, purchase protection, extended warranty, and more
No foreign transaction fees

Hot Tip:

The Chase Sapphire Preferred card is subject to the issuer’s 5/24 rule, which means you’ll likely be denied if you’ve opened 5 (or more) cards from any issuer within the past 24 months. Additionally, you won’t be eligible for the welcome offer if you’ve received any Chase Sapphire welcome offer within the last 48 months.

Final Thoughts

Historically, Chase has offered generous welcome bonus offers in recent years. While we don’t have a crystal ball for future offers, it helps to know what has been on the table in the past.