The Chase Sapphire Preferred is offering a new 80,000 point sign up bonus. It’s worth up to $1,400 on your next Disney vacation. Here are the top ways we would spend these points.
1) Cash Out Your Points
Chase created a new feature at the beginning of the pandemic where you can cash out your points with a 25% bonus if you pay yourself back for certain kinds of purchases. On purchases in dining, grocery stores, home improvements stores, and some charities, you’ll get an exchange of 1.25 cents for each point to pay back those purchases. It essentially allows you to cash out your points.
The reason we love this option is that it’s the most flexible. It’s not the most valuable use of your points, but it does allow you to pay for any aspect of your Disney vacation. And, 80,000 points comes out to $1,000 in cash.
You can transfer your points to several airlines including Southwest, United and JetBlue. Often they may be worth more than if you just cash them out. You’ll likely get around 1.5 cents in value per point when you transfer to Southwest; it’s often the most valuable option. But, if you live in a United or JetBlue hub city, make sure you check the rewards prices of flights on your travel dates. They could easily be your best option.
3) Hyatt Hotels
Normally, we would rank transferring your points to Hyatt higher than this. But, hotel prices are so cheap during the pandemic that transferring points to Hyatt likely won’t make sense in most cases. But, as prices rise throughout the rest of the year, it will likely be more and more of a deal.
The Hyatt Regency Grand Cypress in Orlando is one that costs 12,000 points per night and would otherwise run $250+ on many nights. Also, the Hyatt House in Anaheim is 15,000 and often runs closer to $300 per night. Both of these would be great ways to spend 80,000 points. You could get 6 nights the former and 5 nights at the latter with points to spare.
Chase Sapphire Preferred
With this increased sign up bonus, you’ll earn 80,000 Chase Ultimate Rewards when spend $4,000 in the first three months. You’ll also get a $50 grocery store credit which will help offset the $95 annual fee. In addition, you’ll always earn two points per dollar spent on dining and travel purchases.