There’s One Indisputable Best Credit Card Initial Bonus Offer Right Now

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Last week Chase announced the biggest-ever public offer for the Chase Sapphire Preferred® Card: 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.

This is the indisputable best credit card initial bonus offer available right now. Period.

The card’s previous offer of 60,000 points was the best public offer ever for the card. They’ve increased it by one third – 20,000 more points – and haven’t even increased the spending requirement. This is huge for the $95 annual fee card.

  • Earning: Double points on travel and dining at restaurants; 5X points on Lyft rides through March 2022.

  • Transfer points to airlines and hotels: points transfer to United, Hyatt, Southwest, British Airways, Virgin Atlantic, Singapore Airlines, Air France KLM, JetBlue, Aer Lingus, Iberia, Emirates, Marriott, IHG Rewards Club.

  • Or use them for statement credits: The new Pay Yourself Back tool lets you redeem points at 1.25 cents apiece in value against eligible card charges (currently, grocery, dining, and home improvement).

  • Food delivery benefit: Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DoorDash’s DashPass (activate by December 31, 2021).

  • Also right now: Earn triple points on Instacart, plus $50 in statement credits towards yearly or monthly Instacart Express membership; triple points on gas; and 5 points per dollar on some streaming services.

But let’s ignore for a moment the card’s ongoing benefits. Let’s just look at the bonus.

  • Minimum value: if you use it to pay for travel through Chase’s portal, or use it for statement credits as part of the ‘Pay Yourself Back’ program you’ll get 1.25 cents apiece in value, so the initial bonus offer is worth $1000.

  • Maximize value: I value Chase points at 1.8 cents apiece, making the bonus ‘worth’ $1440. That’s because of the tremendous flexibility in transferring points to airline and hotel loyalty programs, and redeeming the points for premium rewards where you might get far more value.

There are 100,000 point offers for some cards, but the two things to keep in mind are:

  1. Chase points are more valuable than most points because of their flexibility, you can transfer them to a wide variety of different places.

  2. The spending requirement to earn the bonus is relatively low.

An initial bonus worth $1440 represents a 36% rebate on $4000 spend which is almost unheard of. The bonus is big, it’s paid in the form of a valuable currency, and the requirements to earn the bonus are reasonable.

If you think there’s any better initial bonus offer out there then, please, make the case in the comments – because I’m not seeing it.

Chase Sapphire Preferred® Card

About Gary Leff

Gary Leff is one of the foremost experts in the field of miles, points, and frequent business travel - a topic he has covered since 2002. Co-founder of frequent flyer community, emcee of the Freddie Awards, and named one of the "World's Top Travel Experts" by Conde' Nast Traveler (2010-Present) Gary has been a guest on most major news media, profiled in several top print publications, and published broadly on the topic of consumer loyalty. More About Gary »

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Editorial note: any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Comments made in response to this post are not provided or commissioned nor have they been reviewed, approved, or otherwise endorsed by any bank. It is not the responsibility of advertisers Citibank, Chase, American Express, Barclays, Capital One or any other advertiser to ensure that questions are answered, either. Terms and limitations apply to all offers.


  1. I was surprised to see the Chase Starbucks credit card increase their bonus from 4,500 to 6,800 points — for an annual fee of $49 and no fee in the first year. It costs 150 points for a handcrafted beverage of any size — which is equal to 45 Venti beverages. Also, when you have the card, there are no point expiration dates (when usually it is 6 months from the date of earning). Here in NYC, a Venti beverage with extras can run $8-$9 — multiple that by 45 — and it really adds up!

  2. Hi Zach,
    I also have the CSR. My understanding is that Chase allows you to have one or the other, but not both.
    So… time to encourage my wife to apply for the CSP.

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