After receiving your Chase Sapphire Preferred card, you must spend at least $2,000 in the first three months. Do that, and Chase will give you 40,000 bonus points — worth up to $500 in travel rewards when redeemed through Chase Ultimate Rewards.
The card earns 2 points per dollar spent on travel and dining. There is no cap to how many points you can earn. There are no foreign transaction fees. It has a $95 annual fee, which is waived for the first year. The card has a 15.24% purchase APR.
Cardholders receive a 20% discount on travel when they use their Chase Ultimate Rewards. They also receive a 7% annual points dividend on all points earned in a year.