The Chase Sapphire Preferred has relaunched its legendary 100,000-point welcome offer, making now one of the best times in years to apply. At our valuation of 2.05 cents per Ultimate Rewards point, this bonus is worth a staggering $2,050—an all-time high for this card.
Our Take
Good news for travel optimizers and first-time premium cardholders. This is the strongest public offer we've ever tracked for the Sapphire Preferred, and it won't last forever. If you've been waiting for the perfect moment to jump on this card, this is it—especially with flexible points that transfer to top airline and hotel partners.
What Changed
- Welcome bonus: 60,000–80,000 points (typical past offers) → 100,000 Ultimate Rewards points
- Bonus value:
$1,230–$1,640 (previous) → **$2,050** (by our valuation) - Effective immediately, per The Points Guy
Who Benefits Most
- New-to-Chase travelers: Earning 100,000 points after $5,000 spend in 3 months means $2,050 in value for flights, hotels, or transfers to partners like Hyatt and United.
- Hyatt loyalists: Transfer 100,000 UR points to World of Hyatt for ~60,600 points, enough for 8+ nights at Category 1 properties (worth ~$990+ at our 1.65¢/pt valuation).
- International flyers: Transfer to United, Air Canada Aeroplan, or British Airways Avios for premium cabin redemptions—100,000 points can cover a round-trip business class ticket to Europe (worth $2,000+ in many cases).
- Everyday spenders: Pair with a Chase Freedom Unlimited to supercharge your points-earning on non-bonus categories, then pool points for big redemptions.
Who Should Be Cautious
- Recent Sapphire cardholders: If you've received a Sapphire bonus in the last 48 months, you're not eligible for this offer.
- Chase 5/24 victims: If you've opened 5+ cards from any issuer in the past 24 months, you likely won't be approved.
- Luxury perks seekers: If you want airport lounge access or premium travel credits, the Chase Sapphire Reserve may be a better fit, though its bonus is currently lower.
What To Do Right Now
- Check your 5/24 status—if you're under, apply soon before the offer disappears.
- Review your Sapphire bonus history to confirm eligibility (no bonus in last 48 months).
- Plan $5,000 in spending over the next 3 months to easily meet the bonus requirement.
- Consider pairing with a Freedom Unlimited or Freedom Flex to maximize everyday earning.
- Research transfer partners to identify the best redemption strategy for your travel goals.
