The Chase Sapphire Preferred has returned with a limited-time offer of 100,000 Chase Ultimate Rewards points, the highest bonus this card has seen since 2021. While the required spending threshold is higher than usual, the overall package of benefits, flexibility, and long-term value makes this card an appealing option for both newcomers and experienced travelers.
Offer Details
- Welcome Bonus: 100,000 Chase Ultimate Rewards points
- Minimum Spend: $5,000 within the first 3 months (previously $4,000)
- Annual Fee: $95 (includes a $50 annual hotel credit when booking through Chase Travel)
Thanks to the 25% travel redemption boost when booking through the Chase portal, each point is worth at least 1.25 cents. This means the 100,000 points are worth a minimum of $1,250 when redeemed for travel.
However, if you transfer points to one of Chase’s travel partners—such as Hyatt, United, or Air France-KLM—you can typically achieve around 2 cents per point, increasing the potential value of the bonus to about $2,000.
Benefits
- High-value points: 25% bonus through Chase Travel and strong transfer partners.
- Travel coverage: Includes trip delay insurance, primary car rental coverage, and baggage protection.
- Redemption flexibility: Points can be redeemed for travel, cash back, gift cards, or statement credits.
- $50 annual hotel credit: Valid when booking hotels via Chase Travel.
- No foreign transaction fees: Ideal for international trips.
- Option to upgrade or downgrade: Move to the Reserve or a Freedom card without closing your account.
Pros and Cons
Pros:
- Massive 100,000-point welcome offer, one of the best available.
- Excellent redemption options through Chase Travel or transfer partners.
- Comprehensive travel and purchase protections.
- Reasonable $95 annual fee considering the benefits.
- Great flexibility for future product changes.
Cons:
- Higher minimum spend ($5,000 in 3 months) may be difficult for some.
- Requires strong credit and compliance with Chase’s 5/24 rule.
- Best value comes only if you transfer points strategically.
- No introductory 0% APR period
Eligibility: Important Rules to Know
Chase 5/24 Rule
If you have opened five or more personal credit cards (from any issuer) within the past 24 months, your application for a new Chase card will likely be denied. The count usually resets only at the 25th month after opening your fifth card, so checking your credit report and card opening dates is important before applying.
Chase 48-Month Sapphire Family Rule
To qualify for the new cardmember bonus on the Sapphire Preferred, you must:
- Not currently hold any Sapphire card, and
- Not have received a Sapphire card bonus within the past 48 months (the 48-month clock starts from the date the previous bonus was credited to your account, not the card’s opening date).
Additional Note
Chase typically avoids approving more than two credit cards per person within a 30-day period. Strategic timing of your applications can help increase your approval odds.
Why You Should Consider This Offer Now
There are three main reasons why this is a particularly strong opportunity:
- Exceptional bonus: The 100,000-point offer is the highest seen since 2021, making it one of the most valuable welcome bonuses available in the travel rewards space today. Even with the slightly higher spending requirement, the potential return more than compensates.
- Perfect timing for travel planning: If you meet the spending threshold within 2–3 months, your points should post midyear—just in time to plan and book travel for the upcoming summer or fall season. With Chase’s flexible transfer partners, you can easily find excellent redemptions for flights, hotels, or vacation packages.
- Low risk and upgrade flexibility: With an annual fee of just $95, the card carries limited downside risk. Over time, you can also upgrade (“product change”) to the Sapphire Reserve for premium benefits or downgrade to a no-fee Freedom card if you decide not to keep it. This flexibility makes it a relatively low-risk entry into Chase’s travel rewards ecosystem.
Quick Value Breakdown
- Minimum guaranteed value (Chase Travel +25%): 100,000 × $0.0125 = $1,250
- Typical transfer value (e.g., Hyatt at ~2 cents/point): 100,000 × $0.02 = $2,000
- First-year net value (assuming 2 cents/point transfers): $2,000 (points) + $50 (hotel credit) – $95 (annual fee) = ≈ $1,955 in total first-year value
Final Recommendation
The Chase Sapphire Preferred remains one of the best travel cards on the market, and this new 100,000-point offer only reinforces its reputation. For travelers who value flexibility, solid earning potential, and strong redemption options, this is a must-consider opportunity. Even with a moderate spending requirement, the first-year value can approach $2,000, making it one of the most lucrative travel credit card bonuses currently available. Whether you’re new to travel rewards or an experienced points strategist, the Sapphire Preferred offers a strategic and flexible way to maximize travel rewards.