So here in my hand is the Chase Sapphire Preferred and it's what I've considered to be one of the best entry-level traffic credit cards. and just about a week ago Chase announced that the Sapphire Preferred was getting a limited time bonus offer for 80 000 points. But it looks like it's finally coming to an end. So in this video, we're going to be going over what those updated benefits to the card are, whether or not it's still worth applying for in 2023, what 80 000 points really mean and additional rules to consider before applying for this card.

So with this card here, first of all, you're going to be earning 5x total points on travel purchased through the Chase Ultimate Rewards portal. You'll also be getting 2x back on all other travel purchases, 3x points on dining including eligible delivery services, takeout, and dining out. Then you get three x points on online grocery purchases excluding Target Walmart and wholesale clubs, and then you'll get 3x points on select streaming services and then 1X point back on all other purchases. Now, the Chase app I prefer did not include streaming services and it did not include online grocery purchases when I first had owned this card, in the most recent months, they've gone ahead and added a bit more upgrade.

so I would consider it to be like the Chase Sapphire Prefer 2.0 with even something like earning a 50 statement credit each account anniversary year for hotel stays purchased through that portal. Now the reason why I mentioned this as being one of the best beginner travel credit cards is just the fact that you're not committing to a high annual fee of a couple hundred dollars every single year and you're still able to retain a lot of the similar benefits. It was also about four years back when this actually was one of my first travel credit cards that I ever applied for that had an annual fee at that time. This was perfect for me because I didn't take any huge International trips like I did in my most recent year going to Korea for a few months, but back then I could only afford to travel domestically just maybe once or twice with this card.

You also have access to that Chase Ultimate Rewards portal and you'll also be able to get 25 more value when redeemed for travel. For example, 80 000 points are going to be worth more than a thousand dollars towards travel when booking through that portal. Now, before this card, you used to offer the welcome bonus of 60 000 bonus points, but now it's going to give you 80 000 points and the difference of that twenty thousand bonus points on the most conservative side, is 200 extra. You're getting minimum now just a little bit.

I'll go over exactly how you can get twelve hundred, fourteen hundred or even two thousand dollars plus in value very easily with this card. But before we do, I need to mention the odds of being able to get approved because right now with credit requirements, a tightening because of the current circumstances of the economy and interest rates going up I've seen people in the past with a mid 600 credit score getting approved, but right now your chances of approval may be best if you have a score of at least 680 minimum and ideally within the 700s. If you do happen to get approved for this card, you'll have a variety of different options where you could eventually downgrade the card if you decide hey, I'm not getting that much value or if you simply flat out just cancel the card and you decide hey I want to get another travel card in the future I Think that's viable too now I Know a lot of folks are scared of canceling credit cards because they're afraid of what it could do to your credit score. But keep in mind that really comes into play.

If You happen to cancel cards that are tremendously old because you would be reducing the average age of your accounts, which is a huge factor into your credit score. When you cancel a brand new card or something that you've only held for maybe one or two years, you're not going to be seeing too much of a ding, and even if you do, normally your score will climb back up just a few months later. If you don't want to cancel this card, you have so many options. Chase actually has three different Freedom products.

only two of them are available publicly, but you can also get the regular Chase Freedom Card which is something that I did or you could also downgrade to the regular Chase Sapphire card which also has no annual fee which is something that I've also done before too. On the topic of whether or not this card is worth picking up, I would say that 80 000 Point bonus is really solid. There is still one if you are able to go into a branch, you might be able to find a 90 000 Point offer or sometimes a hundred thousand Point offer, but those are rare. It's limited and not always where you walk into a branch will you get it.

Still just getting anything above the public offer because when I first applied for this card, I only got 60 000 points If you're able to find anything better than that I still think it's worth getting as long as you know you can hit that minimum requirement for the welcome bonus. Now on the topic of that welcome bonus of 80 000 points. What is that worth? exactly? So I wanted to do something different and give you guys some real world examples of how I would be able to find maximum value of even getting two to even three cents per. Point Very, very quick.

Very. Simply Now First of all, by having the Chase Sapphire card, you have access to that Ultimate Rewards portal. Like we mentioned earlier and one of the benefits that you can use. following that is the fact that you can transfer your points to a different partner.

so for that all you need to do is log in. Make sure you go ahead and add your Hyatt account if you don't have one already and then within the travel portal it's going to give you a tab where it says transfer to Travel Partners After that you scroll down to the list of Hotel partners and you click on transfer points next to the world of Hyatt card. Shortly after that, you can decide on how much you want to transfer over now. Point Transfers are one to one.

so if you get eighty thousand points with Chase it's going to be worth 80 000 points with Hyatt and those Point increments that get transferred are within every 1 000 points. Once you do that, you review your details, you press a confirm and submit and usually you should be able to see your points. Transfer pretty quick, but sometimes it does take about a day or two for it to load into that account. So let me show how you can get a higher Redemption with your 80 000 points.

As an example, one of the places that I've always wanted to visit was Hyatt Ziva in Cancun This here is an all-inclusive resort and it's just I Don't know. For some reason it's been one of my dream destinations. I Know it's not the most expensive or lavish. it's not the Maldives but you know I'm from the East Coast I'm from Maryland Anyways, it's only three hours away.

We'll use it just for the purpose of this video. So say I Wanted to stay at this hotel on July 23rd to July 26. Just a few random dates and it comes out to be about 588 dollars per night. Now when I used to check some other dates I've seen this hotel room continue to go up in price where it was around even 700 per night.

but I saw the point rewards rate continues to stay at forty thousand points. so by doing the math you will be able to find a better Redemption rate right there. But let me give you a bit of a better example. So one place that I've stayed up before is the Park High in New York This here is one of their top tier hotels, a five-star hotel and I believe this is also a category 80.

so every Hyde Hotel falls into the property range of one to eight. so if it's a category Eight Hotel it means it's one of the best ones that Hyatt has to offer. With that being said, if I want to stay one night at just a normal king-sized bed here in New York City it would be 995 dollars a night. Let's round it up to a thousand dollars a night.

but for points it would only cost me forty thousand points. So if I take that welcome bonus offer from the Chase app I prefer transferred one to one into Hyatt then I would have 80 000 points loaded into this account. I'm able to get two at nights completely for free at this five-star hotel here in New York City and instead of paying two thousand dollars a night, I would get it for free after doing the math just for those two Hotel night stays I'm able to get a 2.5 Cent per Point Redemption which is not too bad at all. You could also just put it into the value of if you do decide you really want to stay at this hotel, you get the welcome bonus for spending money that you would have done anyways on a credit card like this, you end up getting a 2 000 welcome bonus.

Now just like I've showed you here in this example, what I really love about Chase It's just so easy to use compared with American Express where I literally had to make a full guide, going through exactly which membership reward points to use, how to transfer it to different partners just for you to find an easier or higher Redemption rate with Chase it simply is just transferring those points once and then clicking on you know one of the High rooms and getting it there now before applying for this car. There are also a few more things that you need to consider unlike American Express where if you ever get the welcome bonus on a card like the American Express Platinum Card, you will never be able to get that welcome bonus offer again. But with Chase they allow you to get that bonus but within every 48 months. This rule here includes the Chase app, I preferred and both the Chase Sapphire reserve and the 48 months wouldn't be from when you open the card, but rather from when you earn the bonus.

Now something really important too is gonna be that 5 24 rule where Chase states that every 24 months you can only get five cards before getting approved for the next one within Chase's lineup. So if I applied for four different cards with another issuer and then I got you know another one already. If I have five cards within that two years and then I try to apply for this card, I would get automatically denied. But that is up until some recent data points that we got.

Take as an example. this one user 16 days ago got approved for a credit limit of 10 000 at 524 where in the past two years they got the American Express Blue Cash Plus. They also have the Capital One Venture access, City Custom cash, the US Bank altitude connect. they have the AmEx gold.

Then they apply for this card and they got approved instantly. Now it looks like data points are a big mix though because I'm seeing still some people getting instantly denied when they are over 524 as this person is at the 724 status and it looks like they were unable to get approved. Now one last thing to note guys: Chase Announced the first domestic opening of the Sapphire Lounge and this is something cool: I Wanted to share just because if you happen to be in the boss area. they went ahead and opened an 11 640 square foot Lounge which provides distinct areas for recharging including two Wellness rooms anti-gravity massage chairs now I Gotta mention that this Lounge is only open to the Chase Sapphire Reserve lineup of cards, but the reason why I Wanted to at least share it because we're seeing Chase continuing to invest into the Sapphire program and I do believe that they're not going to continue just like forgetting about this product at all I believe they're going to continue adding additional benefits.

They'll give you more lounge access, whatever it may be, because even over the last four years me holding this card I've seen them continue to add more things. Now, if at any point you guys are interested in applying for this offer, you just want to see if it's available. Be sure to check out the links Down Below in the description to see the Chase app I preferred I'll have a link down below pinned in the comment section I Also have a link in the description of this video now I Gotta say too, if you guys use those links, it's going to help out this channel a ton at no cost to you. If you guys want to go ahead and join our private Facebook group with over 30 000 members, be sure to check out the link Down Below in the description as well for that.

Thank you all so much again for watching these videos right here. And other than that, I'll see y'all later Peace.