The sign-up bonus is 60,000 points after you spend $4,000 in the first three months

When you open a Chase Sapphire Preferred card and meet the spending requirement, you receive 60,000 Ultimate Rewards points. Those points are worth at least $600 if you redeem them for cash back, or potentially more if you use them for travel bookings through Chase's travel portal or transfer them to airline and hotel partners.

The spending requirement is $4,000 in purchases within the first three months of opening the account. This is the threshold you need to hit to receive the bonus — the points do not post automatically just for opening the card. Authorized users you add to the account do not earn a separate bonus.

Chase periodically changes the bonus amount and spending requirement, so the offer you see today may differ from what appears in future months. The 60,000-point offer has been the standard for this card for an extended period, but it is worth confirming the current terms on Chase's website before you explore.

Key Takeaways

  • The bonus is 60,000 points after you spend $4,000 in three months, worth at least $600 in cash back or potentially more through travel transfers.
  • You must meet the full $4,000 spending requirement within the first three months to receive any bonus points at all.
  • The card carries a $95 annual fee, which you pay in the first month and every year you keep the account open.
  • Points earned on purchases after the bonus period are worth 2 points per dollar on travel and dining, and 1 point per dollar on everything else.
  • Chase's travel partners include airlines like United, Southwest, and American, and hotels like Hyatt and IHG, though not all partners accept transfers from every card.

How the $4,000 spending requirement works in practice

The $4,000 threshold counts all purchases you make with the card — groceries, gas, restaurants, online shopping, everything. It does not include balance transfers, cash advances, or fees. If you spend $3,500 in the first three months, you do not receive the bonus; you receive nothing. There is no partial credit for coming close.

The three-month window starts the day your account opens, not the day you receive the physical card. If your account opens on January 15, your important date is April 15. Purchases posted to your account by that date count, even if you made them a few days earlier.

Many people meet this requirement without changing their spending habits — if you already charge $1,500 or more per month to credit cards, you will likely cross $4,000 naturally. If you do not, you can plan a large purchase (travel, home goods, car maintenance) for the first three months, or time a bill payment you were going to make anyway.

What the bonus points are actually worth

Chase Ultimate Rewards points have a baseline value of 1 cent per point when you redeem them for cash back. That means 60,000 points equals $600. You can deposit this directly to a bank account linked to your Chase account, or use it to reduce your credit card balance.

The same points are worth more if you transfer them to travel partners or book travel through Chase's portal. A transfer to United Airlines, for example, might let you book a domestic flight that would cost 25,000 points instead of the 25,000 points you would need to buy directly. The exact value depends on the specific flight, hotel, or redemption you choose, and it varies widely — sometimes you get 1.5 cents per point, sometimes 2 cents, sometimes less.

This is why the card appeals to people who travel frequently and understand how to use airline miles and hotel points. If you never travel or prefer to book directly with a credit card, the $600 cash-back value is the realistic number to use when deciding whether the bonus justifies the $95 annual fee.

The annual fee and whether the bonus covers it

Chase charges $95 per year to hold this card. You pay it in your first month, and again every year on the anniversary of your account opening. This is a real cost that reduces the net value of the bonus.

If you redeem the 60,000 bonus points for $600 in cash back, and you pay $95 in annual fees, your net gain in the first year is $505. That is still a positive return, but it is smaller than the headline bonus number suggests.

The card is designed for people who will use it beyond the first year and earn additional points on everyday purchases. If you plan to open the card, hit the bonus, and close it when ready, the $95 fee cuts directly into your profit. Some people do this intentionally — they open the card, meet the spending requirement, redeem the points, and cancel before the second annual fee posts. That is a legitimate strategy, though it does require you to remember to cancel before the anniversary date.

How to actually receive the bonus points

After you meet the $4,000 spending requirement, Chase processes the bonus within 5 to 10 business days. The points appear in your Ultimate Rewards account, which you can see by logging into your Chase account online or through the mobile app. You do not need to do anything to trigger the points — they post automatically once the spending threshold is confirmed.

Once the points are in your account, you can redeem them when ready or hold them indefinitely. There is no expiration date on Ultimate Rewards points as long as your account remains open. If you close the account, any remaining points are forfeited, so plan your redemption before you cancel.

You redeem points through your Chase account dashboard. You can transfer them to travel partners (which takes 1 to 2 business days), book travel through the Chase portal, or deposit them as cash back to a linked bank account (which takes 3 to 5 business days).

Comparing this bonus to other travel cards

The Sapphire Preferred bonus of 60,000 points is competitive but not the highest available. The American Express Platinum card offers 150,000 Membership Rewards points after a $6,000 spending requirement, though that card carries a $695 annual fee. The Capital One Venture X offers 75,000 miles after $4,000 in spending, with a $395 annual fee. The Citi Premier offers 75,000 points after $4,000 in spending, with a $95 annual fee.

The comparison depends on what you value: the Sapphire Preferred has a lower annual fee than most premium travel cards, which matters if you plan to keep the card long-term. The bonus is modest compared to some competitors, but the card's earning rate on dining and travel (2 points per dollar) is strong, and the Ultimate Rewards program is flexible — you can transfer to many partners or use cash back.

If you are deciding between this card and another, the bonus alone should not be your only factor. Consider the annual fee, the earning rates on categories you actually spend in, and whether you will use the travel benefits the card offers (like trip delay reimbursement or travel insurance).

What happens after the bonus period ends

Once you have received the 60,000-point bonus, the card functions like any other credit card. You earn 2 points per dollar on travel purchases and dining, 1 point per dollar on everything else. You pay the $95 annual fee every year. You can continue to redeem points as you earn them, or let them accumulate.

Many people keep the Sapphire Preferred long-term because the earning rate and annual fee balance out for regular users. If you spend $5,000 per year on dining and travel, you earn 10,000 points, worth $100 in cash back — which covers the $95 fee and leaves you $5 ahead. The longer you hold the card, the more the bonus becomes a one-time gain on top of ongoing value.

If you decide the card is not worth the annual fee after the bonus, you can cancel anytime. There is no penalty for closing the account early, and you keep any points you have already earned.

Frequently Asked Questions

Do I have to spend exactly $4,000 or can I spend more?

You can spend more than $4,000. The requirement is a minimum threshold — once you hit it, you receive the bonus. Spending $5,000 or $10,000 does not increase the bonus amount; it stays at 60,000 points regardless.

What if I don't meet the $4,000 spending requirement?

You do not receive any bonus points. The offer is all-or-nothing. If you spend $3,999, you get nothing. This is why it is important to confirm you can meet the requirement before you explore.

Can I use the bonus points right away or do I have to wait?

You can redeem the points as soon as they post to your account, which happens 5 to 10 business days after you meet the spending requirement. You do not have to wait any longer.

Will opening this card hurt my credit score?

Opening any new credit card triggers a hard inquiry, which temporarily lowers your score by a few points. The impact is usually small and fades within a few months. If you have recently applied for a mortgage or loan, opening a new card might not be ideal timing, but for most people the temporary dip is worth the bonus value.

Can I get the bonus more than once?

Chase typically allows you to earn the Sapphire Preferred bonus once every 24 months. If you received the bonus in the past, you may be may be able to access again after two years have passed, but you will need to close and reopen the account. Check Chase's current rules before attempting this, as policies change.