Limited-Time Offer: Earn 150K Points With the New Chase Sapphire Reserve®

Last summer, Chase overhauled its flagship *chase sapphire reserve*, hiking the annual fee to $795 and adding a stack of new benefits to help justify it. And starting today, Chase is upping the ante with a new limited-time offer.

You can currently earn 150,000 Chase Ultimate Rewards points after spending $6,000 in the first three months of card membership. That's up from the 125,000 points you could previously earn for the same spending requirement, making it Chase's largest points offer to date.

For travelers who can hit the spending requirement and clear Chase's eligibility rules, this is as good as the Reserve has ever looked from a sign-up perspective. An extra 25,000 Chase Ultimate Rewards points is worth at least another $250 in travel through the Chase Travel℠ portal – and meaningfully more if you put them toward the bank's stable of transfer partners.

We don't know exactly how long this bigger bonus will last, but Chase has indicated it's only here for limited time. If you've been waiting for the perfect opportunity to apply, this is it! 

There's also good news on the eligibility front: Chase has loosened its rules, and current Sapphire Preferred cardholders are now eligible to earn this bonus, provided they've never earned a welcome bonus on the Reserve before. Chase's new(ish) application process also takes the risk out of finding out whether you qualify. After hitting submit, Chase will let you know if you aren't eligible for the bonus before processing the application or pulling your credit, so even if you had a Sapphire card years (or months) ago, there's no harm in trying.

But keep in mind, credit cards are serious business. No matter how alluring a 150,000-point bonus sounds, it's not worth digging yourself into credit card debt.

Here's what you need to know about the Reserve and its new welcome offer.

Learn more about the *chase sapphire reserve*.

The Basics on the Chase Sapphire Reserve®

• Welcome Bonus: bonus_miles_full
• Earn 8x points on all purchases through the Chase Travel℠ portal
• Earn 4x points booking flights and hotels directly
• Earn 3x points on all dining purchases
• Complimentary access to Chase Sapphire Lounges, Priority Pass Lounges for the cardholder and two guests. 
• Annual $300 travel credit for all travel purchases
• Up to a $120 credit for Global Entry, TSA PreCheck, or NEXUS every four years stays in place
• $500 in annual hotel credits for 1,100-plus properties in Chase Travel's “The Edit” portfolio with additional benefits like a $100 onsite credit, complimentary breakfast for two, space-available upgrades, and more
  • Split into two, $250 credits. Must book at least a two-night stay
• Automatic IHG One Rewards Platinum Elite Status
  • Cardholders can bump up to top-tier Diamond Elite Status by spending $75,000 on their Reserve each calendar year
• Up to a $300 annual dining credit at select “Sapphire Reserve Dining” restaurants bookable through OpenTable
  • Split into two, $150 credits available from January through June and again from July through December
• Complimentary subscriptions to Apple TV+ and Apple Music through June 22, 2027 – a value of $288 annually
• Up to a $300 annual StubHub credit for concert and event tickets
  • Split into two, $150 credits available from January 1 through June 30, and again from July 1 through December 31 for purchases on StubHub.com and viagogo.com (activation required)
• Up to $120 in Peloton credits annually towards memberships through Dec. 31, 2027 (activation required)
  • Cardholders will still earn 10x points on Peloton equipment and accessories over $150 through Dec. 31, 2027
• Up to $120 in Lyft credits annually, split into $10 monthly allotments through Sept. 30, 2027
• Up to $300 for DoorDash annually through Dec. 31, 2027. This includes two $10 monthly discounts toward non-restaurant orders, a $5 per month discount toward restaurant orders, and a complimentary DashPass membership (a $120 value for 12 months)
• Excellent travel insurance policies for trip delay, trip interruption, rental cars, and more
• Annual fee of $795

Chase also added some sweeteners to encourage big spenders to keep pulling out their Reserve card. In addition to that bump up to IHG Diamond Status, cardholders who spend $75,000 or more on their Reserve will also get:

• Automatic Southwest A-List status
• Automatic World of Hyatt Explorist status
• A $500 travel credit for Southwest Airlines (when booking through Chase Travel)
• A $250 credit for the new “Shops at Chase”

Whew, got all that? That's a long, long list of benefits – a mix of travel-focused perks and lifestyle credits.

Is the $795 Annual Fee Actually Worth It?

Let me be clear: $795 is a lot of money, and getting full value out of this card takes real effort.

The $300 annual travel credit applies automatically to any travel purchase, effectively bringing the fee down to $495 – that part's easy. Beyond that, you're looking at semiannual hotel and dining credits, monthly Lyft and DoorDash credits, and a stack of lifestyle perks that demand attention to actually use.

Chase pegs the total annual value at north of $3,000. I'd call that optimistic. Most people won't squeeze every dollar out of every credit, and that's fine – but you'll need to be honest with yourself about which credits you'll actually use before the math works.

Here's where the 150,000-point bonus changes the conversation, though: For first-timers, that bonus alone is worth at least $1,500 through Chase Travel – and a lot more through transfer partners. That's enough to make the first-year math work even if you only use a handful of the credits. For renewers staring down year two, the case is much harder to make.
 

Who Can Earn this Big Bonus?

Earning 150,000 ultra-valuable Chase points from one card is tough to beat. It's a massive bonus, that could be worth as much as $3,000 when booking select flights and hotels through Chase Travel^SM. At a minimum, those points are worth $1,500 … if not much, much more when sent to Chase's slew of transfer partners. And that's before counting the Reserve Card's many additional credits, from the longstanding $300 annual travel credit to the $500 credit for high-end hotels in Chase's The Edit℠ by Chase Travel℠ portfolio.

But for more than a decade, Chase has been notoriously stingy with actually allowing travelers to earn these big bonuses. The pesky Chase 5/24 rule means travelers with a wallet full of credit cards are often ineligible. The good news: Chase has loosened its Sapphire-specific rules in a meaningful way.

Here's where things stand now:

• Current Chase Sapphire Preferred cardholders are now eligible for this Reserve bonus – provided you've never earned a welcome bonus on the Reserve before. That's a meaningful change from a year ago, when Preferred holders were locked out. Holding the Reserve and Preferred at the same time is allowed.
• The 48-month reset is gone. You can earn the welcome bonus on each Sapphire card – Preferred or Reserve – exactly once, ever. If you've previously earned a Reserve bonus, you almost certainly won't qualify again.
• Chase is using a pre-approval tool similar to Amex's “Apply with Confidence” feature, which lets you see whether you're eligible for the bonus before your credit is pulled.

If you've never earned a Reserve bonus before, you're likely eligible – even if you currently carry the Preferred. And because Chase will tell you upfront whether you qualify before pulling your credit, there's zero risk in finding out.
 

How to Use This 150K Bonus

There's a reason why the launch of the Chase Sapphire Reserve nearly a decade ago practically broke the internet. Earning 150,000 Chase points in one fell swoop is a real goldmine. And since you'll have to spend $6,000 to earn it, you'll actually have at least 156,000 points to throw around.

Here are a few ideas:

• Hyatt remains one of the best Chase transfer partners and one of the best ways to redeem Ultimate Rewards, period – though a meaningful Hyatt devaluation is coming in May. Even after that, this bonus alone will cover multiple nights at properties currently starting as low as 3,500 points per night.
• You could book Virgin Atlantic Upper Class to London-Heathrow (LHR) for as low as just 29,000 points each way. With that big of a bonus, you'll have enough for two roundtrip Upper Class tickets and points to spare … just beware of the recently increased taxes and fees!
• By sending your points to airlines like Southwest or British Airways, you could easily book several roundtrip flights to Hawaii with these Chase points.
• Even after a recent devaluation, Iberia business class remains one of the cheapest ways to get to Europe in a lie-flat seat at 40,500 Avios each way – requiring even fewer points if you time it right with one of the frequent 20% or 30% transfer bonuses we see from Chase to Iberia or British Airways.

Read our full list of awesome ways to redeem a big Chase bonus!

Bottom Line

The new-look *chase sapphire reserve* is offering its biggest welcome bonus yet – and Chase hasn't said how long it'll last. New applicants can earn 150,000 Chase Ultimate Rewards points after spending $6,000 within the first three months. It's the biggest points bonus we've ever seen on Chase's top travel card – and a real way to take the sting out of its $795 annual fee – especially if you can squeeze full value out of the credits. 

Learn more about the *chase sapphire reserve*.