Chase Sapphire Preferred: Up to 55K Bonus Offer

The Chase Sapphire Preferred is offering up to 55,000 bonus points (see Best Travel Credit Cards for link, which is not my affiliate link), although the annual fee (waived the first year) has increased to $125. While I have no inside information, I wonder if it's at all related to the United Award Chart Devaluation, since it's well known that United MileagePlus was the best option to transfer Ultimate Rewards points to, and Chase reps have (at least the ones I've spoken with) admitted to receiving a ton of calls related to that, never mind the fact that Chase isn't United…oh well.

Anyway, back to the Chase Sapphire Preferred 55K offer details:

• 50,000 Ultimate Rewards points after you spend $3000 spend in the first 3 months

• 5000 Bonus points after your first purchase and adding an authorized user

• 2 points per dollar spent on travel and dining at restaurants & 1 point per dollar spent on all other purchases

• No foreign transaction fees

• Receive a 7% Annual Points Dividend on all new points earned on purchases – even on points already redeemed. This makes your effective earn on travel and dining 2.14X

• 1:1 point transfer to United and Hyatt (best use of points), Korean Air, Southwest, Marriott, InterContinental, Priority Club, Amtrak

• Annual fee waived first year, then $125

• Offer only available to first-time cardholders