Sorry it took me awhile to post the link for this deal. I got caught up in the American Airlines posts.
Chase has upped the sign-up bonus for their Chase Sapphire Preferred card. The card now comes with a 50,000 point sign-up bonus. You have to spend $3,000 on the card in the first 3 months to get the sign-up bonus. The annual fee of $95 is waived for the first year. At the end of each year, you earn a 7% point bonus on the spend for the year.
You can redeem the points directly for 2 flights that cost up to $312.50 each (with no blackout dates). Or you can transfer the points 1:1 to Continental, British Airways or Hyatt. You can also use the points for things other than travel. But I think your best option is to transfer the miles to an airline. 50,000 miles will get you 2 saver economy tickets in within the U.S. I usually don’t use miles unless I’m getting $0.02/mile. With that conversion, 50,000 miles is worth $1,000 (much more than the $625 you’d get redeeming directly through the Chase redemption program). But I could see people redeeming directly with the Chase program if they were worried about blackout dates (or worried that they couldn’t get the saver frequent flyer rate).
Information from Chase’s site: ”
- Earn 50,000 bonus points after you spend $3,000 in the first 3 months!
- Points go 25% farther when you travel – For example, 50,000 points can be redeemed for two flights worth up to $312.50 each, which would usually cost you 62,500 points. Just book your flight, cruise or other travel through Ultimate Rewards.
- Pay no foreign transaction fees when you use your card on purchases made outside of the United States.
- Earn a 7% annual point divident – even on points already redeemed
- Redeem your points at leading airlines and hotels at a 1:1 value
- 2x points earned on airfare & hotel accommodations booked through Ultimate Rewards and 1 point for every dollar spent on other purchases
- When you call us our phones are answered by people, not prompts”