There is undeniably a better first credit card bonus offer right now

Gary Leff at 29. March 2021.

I get paid for the content and all the links on this blog. Citibank is an advertising partner of this site, as are American Express, Chase, Barclays and Capital One. All opinions expressed in this article are my own and have not been reviewed, approved or endorsed by my advertisers. I’m not going to tell you about all the credit cards available, but I will tell you about miles, points and cashback (and the currencies that can be converted into them). The terms and conditions apply to the offers and benefits listed on this page.

Last week, Chase announced the biggest offer ever for the Chase Sapphire Preferred® card: 80,000 bonus points after spending $4,000 on purchases within the first 3 months of account opening. You will also receive up to $50 in grocery coupons in the first year you open the account.

This is without a doubt the best initial credit card premium offer available today. Period.

They have only offered 80,000 points before, and this is the first time they have added a $50 credit.

  • Result: Double points for travel and restaurant visits
  • Interchanges between airlines and hotels: Transfer your points with United, Hyatt, Southwest, British Airways, Virgin Atlantic, Singapore Airlines, Air France KLM, JetBlue, Aer Lingus, Iberia, Emirates, Marriott, IHG Rewards Club.
  • Or use for credit transfers: With the new Pay Yourself Back tool, you can redeem your points for 1.25 cents each at the applicable card price.
  • Food service allowance: Get unlimited offers with no shipping charges and low service fees on orders over $12 for at least one year on an eligible food purchase with DoorDash DashPass (activation through December 31, 2021).

But let’s leave aside for a moment the actual benefits of the card. Let’s just look at the bonus.

  • Minimum Value: , when used to pay for travel through the Chase portal or for statement credits through the Pay It Yourself program, you will receive 1.25 cents each, making the initial bonus offer a value of $1050 (including statement credits).
  • Maximum value: I value the Chase points at 1.8 cents each, so the bonus is worth $1490 (still with the credit arrangement). This is due to the great flexibility to transfer points to airline and hotel loyalty programs, and to redeem points for much higher value rewards.

There are 100,000 point offers on some cards, but keep two things in mind:

  1. Chase points are more valuable than most because of their flexibility, as you can transfer them to different locations.
  2. The effort required to benefit from the bonus is relatively low.

The starting bonus of $1490 is a 37% discount on $4000, which is almost unheard of. The bonus is substantial, it is paid out in a valuable currency and the requirements to get it are reasonable.

If you think there is a better starter bonus offer, please do so in the comments – because I don’t see it.

Chase Sapphire Preferred Card

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Editor’s note: Any opinions, analyses, ratings or recommendations expressed in this article are those of the author and have not been reviewed, approved or endorsed by any card issuer. Comments on this post are not made by or on behalf of any bank, nor are they reviewed, approved or endorsed by any bank. Citibank, Chase, American Express, Barclays, Capital One or any other advertiser is also not responsible for answering questions. The conditions and restrictions apply to all offers.

frequently asked questions

Which credit card offers the best sign-up bonus?

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Which credit card offers the best conditions?

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What is a welcome bonus on a credit card?

Many credit cards offer a welcome bonus, which means that new cardholders get extra rewards, such as cashback, points or miles, when they use their card. To qualify for this bonus, you generally need to make a minimum turnover in the first few months after opening the account.

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