If you’re currently chasing Delta Medallion status right now — or plan to as soon as 2022 starts — it might behoove you to take advantage of the Chase Sapphire Preferred’s 100,000 Ultimate Rewards bonus point promotion.
Well, those 100,000 points can be redeemed for 1.25 cents each when booking travel (like Delta partner mileage runs) through Chase. That makes the bonus alone potentially worth $1250.
Consider that you have to spend $4,000 within three months of approval in order to receive the bonus. So you’ll have at least another 4,000 points. You’ll earn even more if you spend it on the Chase Sapphire Preferred’s bonus categories (2X on dining and travel purchases). So, really, you’d have 104,000 points — or more.
Pay for Delta Partner Runs with Ultimate Rewards Points
Here’s an example using a run we posted a few weeks ago. (The price has gone up but still illustrates the concept.)
Instead of paying $889.04 out of pocket, you spend only 71,123 Ultimate Rewards points.
The Chase Sapphire Preferred has a $95 annual fee. But the CSP’s annual fee is worth it, I think, simply because it’s easy to recoup it in points-and-miles earnings.
Going back to our JFK to Quito example, the mileage run earns you 16,196 redeemable SkyMiles. And that’s before any applicable Medallion bonuses. So if you value SkyMiles at a penny each, those base SkyMiles are worth almost $162 in Delta travel. You’ve more than earned back your annual fee.
You’re really cooking with gas if you also have another Chase Ultimate Rewards card in your arsenal. Several have no annual fee. You can combine those cards’ Ultimate Rewards points with your Chase Sapphire Preferred’s — thus potentially making each point worth 25% more.
So if you hold the Chase Freedom Flex and max out its quarterly bonus categories, your 7500 bonus Ultimate Rewards points are worth as much as $93.75 in travel when you transfer them to the Chase Sapphire Preferred.
The Chase Sapphire Preferred or Chase Sapphire Reserve are great tools for people trying to obtain Delta Medallion status through partner mileage runs. The Chase Sapphire Preferred‘s 100,000 bonus point welcome offer can either pay for a couple of trips or drastically offset the cost of others.
And if you pair one of the premium Sapphire cards with another Chase Ultimate Rewards-earning card, you can enjoy some fantastic deals — without spending a ton of money.
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