Chase Sapphire Preferred 10% anniversary points bonus: How it works

06.05.2024 - 20:07 / thepointsguy.com / Chase Sapphire-Preferred

TPG staffers are huge fans of the Chase Sapphire Preferred® Card, happily paying its annual fee each year and listing it as one of the cards we can't live without. We love that this card earns bonus points on travel and dining and allows us to transfer our points to valuable transfer partners.

A great benefit is the 10% anniversary points bonus, giving cardholders a 10% bonus based on their total spend during the account anniversary year at a rate of 1 point for each $1 spent. So, for example, if you spent $100,000 on your Sapphire Preferred during your cardmember year, you would get 10,000 bonus points at the end of the year.

Since TPG values Ultimate Rewards points at 2.05 cents each, earning 10,000 bonus points would be like getting $205 in value. The more you spend, the more you'll earn, and this one perk alone could help make up for some (or all) of the card's $95 annual fee.

Let's dive into the specifics of this benefit and how you can track your progress on the Chase Sapphire Preferred's 10% anniversary bonus.

Without reading the fine print, this new perk can initially sound slightly misleading. Here are the details:

You shouldn't mistake this as earning 10% back of the points you earned in a given year. Instead, you're earning 10% more points based solely on the dollars you spend during your given account anniversary.

You can think of this as simply adding 0.1% to the existing bonus categories on the Chase Sapphire Preferred. As a reminder, here's the earning rate on the card:

In other words, you're earning 5.1 points per dollar on Lyft purchases (through March 2025), 3.1 points per dollar on dining, 2.1 points per dollar on other travel purchases — the list goes on.

While not a huge difference, it can certainly add up to a significant number of bonus points at the end of your cardmember year.

Related: 7 Chase Sapphire Preferred benefits you might not know about

If you don't know your account anniversary date already, visit the Ultimate Rewards portal to find this date as well as your progress toward your 10% bonus.

Click on "Rewards Activity" and you'll find a summary of your spending, points earned, and your progress under "10% Anniversary points boost."

My account anniversary just reset, so I haven't yet earned many points toward my new 10% bonus. That number will increase significantly as I spend more over the coming year.

Another important thing to note here is that you won't receive your bonus points until 60-90 days after your anniversary period is over. This is likely because Chase wants you to pay your annual fee for the next year before awarding you these bonus points.

Regardless, there's no extra work involved for you to activate this benefit. The points will automatically accrue