Welcome Bonus (Sign-Up Bonus)
A welcome bonus (or sign-up bonus, SUB) is a large one-time points or cash award for meeting a spending requirement in a new card's first months. As of June 2026, the Chase Sapphire Reserve offers 100,000 points after $6,000 of spend in 3 months — worth $1,000-2,000+ when transferred well.
Welcome bonuses are where the outsized value in this hobby lives: a single bonus routinely outearns years of regular card spend.
How it works. Issuers advertise a bonus (points, miles, or cash) contingent on a minimum spend within a window, usually 3 months from approval. As of June 2026, the Sapphire Reserve offers 100,000 Ultimate Rewards after $6,000 in 3 months. Meeting the spend with purchases you'd make anyway is the entire game.
Eligibility rules stack on top. Chase applies the 5/24 rule and, since January 25, 2026, a once-per-lifetime bonus rule per Sapphire card (CSP and CSR eligibility are decoupled). Amex enforces once-per-lifetime per card across most of its lineup.
Example. 100,000 UR redeemed as cash is $1,000. Transferred to World of Hyatt from the Reserve at 1:1, it can cover six 15,000-point nights — plausibly $2,000+ of hotel value.
Common mistakes: missing the deadline by days (returns and annual fees don't count as spend), applying before checking eligibility rules, and overspending on things you don't need just to hit the minimum. Compare current offers in best sign-up bonuses.