As I previously mentioned, one of the credit cards that I signed up for was the Chase Sapphire Preferred Card. I decided to make that my main credit card and do the majority of my spending on it due to the 2x rewards on Restaurants and Travel and 1x on everything else. Part of the reason I signed up when I did was because the signup bonus was Chase Sapphire Preferred 40000 points. After you spend $3,000 in the first three months they put 40,000 points into your Ultimate Rewards account.
Chase Sapphire Preferred 40000 Points Credit
At first I thought I may have some issues putting $3,000 on to this credit card within 3 months but after shifting some of my normal spending and some well planned business trips I managed to go way over that limit. One of the best things about working for a smaller company is that I don’t have a company credit card. I just put all of my expenses onto my personal card and get reimbursed at the end of every month.
Anyways, once you reach that $3,000 spending limit you should receive your 40,000 Ultimate Rewards points. The most common question people have is the timing for receiving your points. My billing cycle is on the 8th of every month, and when I met my spending I was credited with my 40,000 bonus points on the 9th even though it was a Saturday. So Friday I got my bill and the next day I had the amount in my account.
How to Use Chase Ultimate Rewards Points
The best use for Chase Ultimate Rewards Points is usually to transfer them to another mileage program. My program of choice is the United MileagePlus program because of my goals. My short-term goal is to have enough miles for 2 round-trip tickets to Asia by the beginning of next year. Between the 50,000 signup bonus for the Chase United MileagePlus Explorer card, the Chase Sapphire Rewards 40000 points, normal spending, and my business travel I hopefully should be able to reach this goal.
Other good transfer programs for the Chase Ultimate Rewards Points are to the Hyatt, Marriott, Amtrak, and British Airways programs in that order. Warning though: there have been some stories of people getting their Chase Sapphire Preferred Cards cancelled when not following the proper procedures when transferring points.