For a limited time, the Chase Sapphire Preferred is getting a higher welcome bonus

Chase announced Thursday that its popular travel rewards card, the Chase Sapphire Preferred, is getting a larger welcome bonus. New cardholders will earn a staggering 80,000 points after spending $4,000 in the first 3 months of account opening for a limited time.

The Chase Sapphire Preferred is already a lucrative card for general travelers. The new offer makes it even more enticing for consumers looking to add a travel card to their wallet. 80,000 points equates to $1,000 to put toward travel through Chase Ultimate Rewards or when cardmembers redeem with Pay Yourself Back.

The Chase Sapphire Preferred has an annual fee of $95 but offers cardholders plenty in exchange. Take a look at the card's rewards:

• 5x points for travel purchased through Chase Ultimate Rewards
• 3x points for dining, select streaming services, and online grocery purchases (excluding Target, Walmart, and wholesale clubs)
• 2x points for all other travel purchases
• 1x point for everything else

And while the rewards are impressive, where the card truly shines is in its redemption options. When cardholders redeem rewards for travel through Chase Ultimate Rewards, they'll get a 25% point bonus. Points are normally worth 1 cent, so when you use them to fund your trips through Chase Ultimate Rewards, they'll be worth 1.25 cents each.

Also: Chase Ink Business Cash vs. Preferred vs. Unlimited

Additionally, the Chase Sapphire Preferred features a 1:1 transfer rate to Chase's travel partners. That means each point, at a minimum, will be worth 1 cent with Chase's partners. However, oftentimes consumers can find an even better value by utilizing point transfers. Cardholders could find a per-point value of 1.5 cents or more given the right transfer deal.

Here are a few of Chase's travel partners:

• JetBlue
• United Airlines
• Southwest Airlines
• British Airways
• IHG
• Marriott Bonvoy

• World of Hyatt

The card also comes equipped with a solid set of travel protections to help you save money if your trip is cancelled or your luggage is delayed. Cardholders gain Trip Cancellation/Interruption Insurance, Baggage Delay Insurance, Trip Delay Reimbursement, and rental car insurance, among others.

If you've been looking for a rewarding and flexible card with a lucrative welcome bonus, now is the time to apply for the Chase Sapphire Preferred. The welcome offer will only be around for a limited time, so if you have any trips planned, using Sapphire Preferred to buy the tickets and make the hotel reservations would make reaching the new bonus offer a bit easier.