3 Ways I Can Use the $300 Travel Credit on the Chase Sapphire Preferred Card

We’ve seen elevated welcome bonus offers for the ever-popular Chase Sapphire Preferred^® Card in the past, but none quite like the one that’s available right now.

In addition to the opportunity to earn a handsome amount of bonus points, the card’s current welcome bonus offer also provides approved cardholders who meet the minimum spending requirements with a one-time $300 credit to use through the Chase Travel portal.

Let’s review this unique welcome bonus offer and some of the best ways to use the travel credit on your next trip.

Chase Sapphire Preferred Card Welcome Offer Details

Newly approved holders of the Chase Sapphire Preferred card can earn the following welcome bonus:

The previous welcome bonus offered just 60,000 bonus points with the same requirements, but now you’d receive an additional $300 credit for any purchases made through Chase Travel. We value Chase Ultimate Rewards points at 2 cents per point, giving this welcome bonus a total value of $1,500 when you combine the value of the points and travel credit.

Benefits of the Chase Sapphire Preferred Card

Chase Sapphire Preferred^® Card

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

A fantastic travel card with a great welcome offer, good benefits, and perks for a moderate annual fee.

Chase Sapphire Preferred^® Card

A fantastic travel card with a great welcome offer, good benefits, and perks for a moderate annual fee.

Welcome Offer

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

60,000 bonus points

UP's Bonus Valuation*:

$1,200

Annual Fee

$95

APR

20.99% - 27.99% Variable

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.

Good to Excellent (670-850)

Why We Like This Card

The Chase Sapphire Preferred^® card is one of the best travel rewards cards on the market. Its bonus categories include travel, dining, online grocery purchases, and streaming services, which gives you the opportunity to earn lots of bonus points on these purchases.

Additionally, it offers flexible point redemption options, no foreign transaction fees, and excellent travel insurance coverage including primary car rental insurance. With benefits like these, it’s easy to see why this card is an excellent choice for any traveler.

Pros & Cons

Pros

• 5x points on all travel booked via the Chase Travel portal
• 5x points on select Peloton purchases over $150 (through March 31, 2025)
• 5x points on Lyft purchases (through March 31, 2025)

Cons

• $95 annual fee
• No elite benefits like airport lounge access or hotel elite status

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Card Highlights

• Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
• Enjoy benefits such as 5x 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, plus more.
• Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠. For example, 60,000 points are worth $750 toward travel.
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
• Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2027.
• Member FDIC

Financial Snapshot

• APR: 20.99% - 27.99% Variable
• Foreign Transaction Fees: None

Rewards Center

Chase Ultimate Rewards

Of course, there’s much more to love about this card than just its shiny new welcome bonus offer. It’s a powerful tool to have in your wallet, as it earns tons of points on everyday purchases according to the structure below:

• 5x points on travel purchased through Chase Travel
• 5x points Lyft (through March 31, 2025)
• 3x points on online grocery store orders, select streaming services, and dining
• 2x points on all other travel purchases

Further, the card comes with a $50 annual hotel credit on bookings made through Chase Travel, primary rental car insurance, trip delay insurance, baggage delay insurance, and purchase protection. You even receive a 10% bonus on your annual spending as bonus points on your account anniversary.

Best Ways To Use the $300 Chase Travel Credit

The addition of a $300 Chase Travel credit to the Chase Sapphire Preferred card’s welcome bonus offer boosts its value proposition significantly. Not only will you have a nice heap of valuable Ultimate Rewards points to utilize, but you also get $300 to redeem on a range of travel purchases through the Chase Travel portal. Here are some of the ways I plan on using this credit to make the most out of it.

1. Book a Flight and Earn Frequent Flyer Miles

One of the drawbacks of redeeming frequent flyer miles for flights is that — in most cases — you lose out on the ability to earn elite-qualifying and redeemable miles for future use.

This isn’t the case when you book a ticket through Chase Travel. Whether you redeem your Ultimate Rewards points through the portal or pay with your Chase Sapphire Preferred card, the airline treats the ticket as a regular, paid ticket, and thus you’ll be able to earn miles — both elite qualifying and redeemable — on your journey.

The availability of the $300 travel credit makes this booking method even more appealing. If used this way, you essentially have $300 to play with. If you are planning a trip and find a ticket that is less than or equal to $300, you won’t be out any money from your pocket and can earn rewards for your flight.

Even if you encounter a flight that exceeds the $300 mark, this is a great tool to minimize your out-of-pocket cost. Think holiday season travels, when flights are notably expensive. Thanks to this $300 credit, what could have originally been out of reach could be well within the budget.

2. Save $300 on a Hotel Without Using Points

We at Upgraded Points love staying at points hotels, especially when we can achieve exceptional value for our points. But sometimes, a points hotel doesn’t work in a given location, there’s no availability at a desirable property, or we simply want to splurge on a hotel that doesn’t participate in a traditional loyalty program.

Having a $300 Chase Travel credit at your disposal is a great tool to save money on typically pricey hotel stays without using points.

Say, for example, you’ve planned a once-in-a-lifetime safari trip in South Africa. Johannesburg is a great jumping-off point for safari trips in the area, and typically you’ll need a night (or 2) in the city to get settled before the safari begins.

Four Seasons — one of the world’s premier hotel chains and one that doesn’t have a traditional loyalty program — has a property in the city: Four Seasons Hotel The Westcliff, Johannesburg. In February 2025, rooms can be had at this property for just under $700 per night.

If a 1-night stay is all you need, you can save almost 50% on the cost of a room at this hotel by using the entirety of the $300 Chase Travel credit when you book your stay through the portal — that’s nothing to scoff at, especially considering you get to spend a night in what’s arguably the city’s top hotel.

Remember, too, that you get an annual $50 hotel credit when you book a hotel stay through Chase Travel, providing a total of $350 in savings on a hotel stay booked through the Chase Travel portal.

3. Mitigate the Cost of a Rental Car

Often, a rental car is a necessary evil on a trip — especially one that’s longer. And it’s usually the last thing anyone wants to pay for when planning a vacation.

However, thanks to the Chase Sapphire Preferred card’s $300 Chase Travel credit, you can save a whole lot of money on your next car rental — or even cover the cost completely!

Remember, too, that the card comes with primary rental car insurance when you pay for your rental with the card and decline the agency’s collision damage waiver. The Chase Sapphire Preferred card gives you the best of both worlds: the ability to save big on the rental itself and peace of mind knowing that you’ll be covered in the unfortunate event that you get into a crash in your rental car.

Final Thoughts

The welcome bonus offer on the Chase Sapphire Preferred card right now is tremendously valuable, combining a healthy sum of Ultimate Rewards points with a $300 Chase Travel credit for an estimated value of around $1,500.

Of course, there are plenty of ways to maximize the bonus points earned from the welcome bonus, but understanding how to get the most out of your $300 Chase Travel credit is of equal importance right now.

What we’ve outlined above is merely a look at how I would personally apply the credit to my future travels, but the options are practically limitless!