This Flyertalk thread discusses an offer for the Priority Club Visa that’s especially worthwhile:

• 45,000 points with first purchase
• 15,000 additional points after spending $3000
• 10,000 more points after spending $15,000b

This is better than the standard 30,000 point signup bonus, although that card waives the annual fee for a year and usually comes with a $20 statement credit while this card offers neither.

My view is it’s worthwhile putting $3000 spend on the card and not a penny more. The offer amounts to a 45,000 mile signup bonus and 6 points per dollar on all spend for the first $3000 if you hit that spend threshold. But since the earning on the card itself its otherwise weak, I don’t find the additional spending threshold of 10,000 more points for $15,000 in spend (10,000 points for the incremental $12,000 or 5/6ths of a point per dollar bonus) to be worthwhile — let alone using the card for everyday spend.

The card earns 3 points per dollar at Intercontinental Hotels Group properties (Intercontinental, Crowne Plaza, Holiday Inn, etc.) and 1 point per dollar everywhere else. I don’t even view the three points per dollar as especially generous.

Still, an interesting ratchet upwards in the credit card bonus wars. (Sidenote: in my experience, like most other Chase cards, this one is no longer churnable. So if you’ve had it before you probably don’t get a bonus again.)