LINK

IBD notes:

- you get 20,000 points after the first purchase
- you get 5000 points as an anniversary bonus
- you can redeem 24000 of 25000 bonus points for 4 free PointSaver nights
- when you redeem points for 4 free nights you should apparently get the 5th night fee (see here)
- in addition to the five free nights, you also get a Free Night Stay E-certificate with this offer
- so... the total is 6 nights unless I have misunderstood something.

The first year is free, there is a $30 annual fee after that


Terms:

1) 20,000 Bonus Points: Please allow 6 to 8 weeks after your first purchase/first use of the card for bonus points to post to your Marriott Rewards account. First purchase/first use includes purchases, balance transfers, or any checks that are used to access your account, and excludes cash advances. This one-time bonus offer is valid only for first time Marriott Rewards Visa Cardmembers. Existing Marriott Rewards Visa Cardmembers are not eligible for this bonus offer. If your account is not open for at least 6 months, Marriott and Chase reserve the right to deduct the bonus points from your Marriott Rewards Program account.

2) 5,000 Bonus Points: You will receive 5,000 bonus points with this bonus offer. You will receive your anniversary bonus if you make a qualifying transaction during the first year of enrollment. Qualifying transactions include purchases, balance transfers, and any checks that are used to access your account, and exclude cash advances. Please allow 6 to 8 weeks from your account anniversary date the first year for bonus points to post to your Marriott Rewards account. To be eligible for this bonus offer, account must be open and not in default at the time of fulfillment. This bonus offer is valid only for first time Marriott Rewards Visa Cardmembers. Existing Marriott Rewards Visa Cardmembers are not eligible for this bonus offer.

3) Free Night Stay E-certificate: Please allow 6 to 8 weeks after account opening for your Free Night Stay E-Certificate to be automatically deposited into your Marriott Rewards Account. Free Night Stay E-Certificate is valid for hotels in categories 1-4. For participating category 1-4 locations, log onto MarriottRewards.com or call 1-801-468-4000. The E-Certificate must be redeemed within 6 months from date of issue. E-Certificates may not be transferred, extended beyond the expiration date, or re-credited for points. This one-time bonus offer is valid only for first-time Marriott Rewards Visa Cardmembers. Existing Marriott Rewards Visa Cardmembers are not eligible for this bonus offer. Chase not responsible for offer fulfillment.