For a little while longer, Chase is out with a best-ever points bonus on its flagship *chase sapphire reserve*: bonus_miles_full
We don't know for sure how long this bigger bonus will last, but Chase has made clear it's “ending soon.” Before you rush out to apply, I need to level with you: The Sapphire Reserve card isn't the right (or best) option for everyone.
Why? Well … let's start with the annual fee: After a “refresh” last summer, the Sapphire Reserve now costs annual_fees per year. To help soften the blow, Chase piled on a whole string of use-them-or-lose-them statement credits. On paper, you can now get $3,000-plus in annual value from the card – more than enough to justify the annual fee – but the reality is, most travelers won't come close to that amount. And if they do, they're darn sure going to have to work for it.
None of that means that this card and its big bonus should be a hard pass (not in the least). Even if you only use two of the Sapphire Reserve's statement credits, you can still come out ahead on the annual fee. And that 150,000-point bonus? Every award traveler should want those Chase points – that part's not really up for debate.
The point is, there might be a better option for earning Chase points … especially if you're just getting started.
Chase Sapphire Reserve® Overview
Before we get into the nitty-gritty of who should and shouldn't take advantage of this 150,000-point bonus offer, let's take a quick look at why the card commands nearly $800 per year to begin with.
I already mentioned the long list of credits worth north of $3,000 (Chase's words, not mine). But what am I talking about, and more importantly, how valuable are they really?
Take a look for yourself.
- Welcome Bonus: bonus_miles_full
- Earn 8x points on all purchases through Chase Travel℠
- Earn 4x points on flights and hotels booked 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: annual_fees
Learn more about the *chase sapphire reserve*.
Who Should Apply for the Sapphire Reserve?
If you're looking for an ultra-premium travel card with perks like lounge access, automatic elite status, credits for things like TSA PreCheck® or Global Entry, you'll be hard-pressed to find a better option than this.
The Sapphire Reserve is a great fit for frequent travelers – especially those who value Chase Sapphire Lounge access – and anyone who spends big on flights and hotels. If you value luxury hotel stays, the card's up to $500 per year “The Edit” hotel credit (split into two chunks of up to $250) wipes out much of the annual fee, and you can close the rest of the gap with the annual $300 travel credit. Everything else is just icing on the cake.
Perhaps, more importantly (and I'll talk more about this next), the Sapphire Reserve is a great choice for travelers who have (or already had) a Sapphire Preferred Card. Chase recently changed its Sapphire eligibility rules, removing the old 48-month clock and family language.
That's genuinely good news for many people. If you picked up the Sapphire Preferred last year (or in recent years), you're now free to apply for the Reserve and earn its limited-time 150,000-point bonus … provided you've never had it before.
Best of all? There's no harm in checking to see if you're eligible. Chase now shows a notification screen during the online application process – before running a hard credit inquiry – letting you know if you're not eligible for the bonus.
The screen gives you two options: continue the application without the bonus, or cancel entirely with no impact to your credit score. Either way, you haven't committed to anything, and your credit is untouched.
Think of it as Amex's “Apply With Confidence” feature. There's no penalty for checking. If you think you might be eligible and the card's a good fit, there's no reason not to find out.
No pop-up? This means you're eligible for the bonus … but critically, it doesn't guarantee an approval.
What's the Next Best Option?
If you're still on the fence about the Sapphire Reserve, there might be a better option (with a similar name): *csp*.
Think of the Sapphire Preferred as the Reserve card's younger sibling. It earns the same Chase Ultimate Rewards points but comes with a much cheaper annual_fees per year price tag. It's Chase's gateway drug: A way to get you hooked on earning Chase points until you're ready to level up to something with added perks and a higher fee.
While you won't earn a whopping 150,000-point bonus with the Sapphire Preferred, it comes with a respectable bonus of its own: bonus_miles_full
For travelers who haven't yet dipped their toe into the Chase ecosystem, this is the place to start. Not only will you be on the hook for a much lower fee from the get-go, but you'll still have access to the same slew of transfer partners, helping you get comfortable with earning and redeeming Chase points in the process.
There's a reason we consider the Sapphire Preferred to be one of the best starter cards on the market, period.
Bottom Line
The Chase Sapphire Reserve card's big 150,000-point sign-up bonus is appealing, but that doesn't mean it's the right choice for everyone.
This card is best for frequent travelers – especially those who have previously held a Sapphire Preferred – who can make good use of the card's added perks. If you're just getting started with earning and burning Chase Ultimate Rewards, the Sapphire Preferred and its more modest annual fee (and bonus offer) are likely the better choice for you.
