A welcome upgrade arrives for Chase Sapphire Preferred cardmembers: more points for spending on travel and dining.
Chase (NYSE: JPM) has upped the rewards structure for the Chase Sapphire Preferred credit card, which caters towards affluent customers.
Effective immediately, Chase Sapphire Preferred cardholders will earn two points for every dollar spent on travel and dining. The “travel” category includes airfare, hotel, car, trains, travel agencies, taxis, and etc. The “dining”category can range from fast food to coffee shops to fine dining.
Cardholders will continue to receive one point for every dollar spent on all other purchases and one additional point per dollar spent on airfare and hotels stays when booked through Chase Ultimate Rewards.
What Are The Changes
Previously, cardmembers could only earn one point per dollar on all other purchases and one additional point per dollar spent on airfare and hotels stays when booked through Chase’s booking tool.
“We are rewarding our customers for doing what they love so they can redeem for travel and experiences even faster,” said Sean O’Reilly, general manager at Chase Card Services, in a press release.
“Our new card enhancement of double points on dining and travel, coupled with no foreign transaction fees and dedicated customer service, makes Chase Sapphire Preferred the perfect rewards card for affluent cardmembers who love travel and dining.”
How Much You Save
With the new upgrade, airfare and hotel accommodations that are booked through Chase Ultimate Rewards, the purchase would yield 3 points per dollar spent.
Other perks of the Chase Sapphire Preferred card are left unchanged, including no foreign transaction fees, dedicated customer service, 7% annual points dividend, and 20% fewer points needed to redeem for travel through Ultimate Rewards.
The Chase Sapphire Preferred card does carry a $95 annual fee that is waived for the first year.
Chase has revamped the sign-up offer for the Chase Sapphire Preferred card – earn 50,000 bonus points after spending $3,000 within the first 3 months of account opening. That is good enough for $625 toward airfare or hotel accommodations when booked through Ultimate Rewards.