The Chase Sapphire Reserve® Card is one of the most popular premium travel credit cards, given its lucrative bonus categories, valuable lounge access, and other credits and benefits that can help offset the annual fee.
Several weeks ago, we saw a massive, best-ever welcome bonus rolled out on this card, making it the ideal time to apply. While we still don’t have an end date for the promotion, Chase has just provided a warning that this offer will be ending soon, so if you’re interested, I’d recommend applying ASAP, as the clock is ticking.
Link: Learn more about the Chase Sapphire Reserve® Card
Chase Sapphire Reserve bonus offers 150K points, up from 125K
The Chase Sapphire Reserve currently has a huge welcome bonus, where you can earn 150,000 Ultimate Rewards bonus points after spending $6,000 on purchases within the first three months. Personally, I value Ultimate Rewards points at 1.7 cents each, so to me, the points are worth a staggering $2,550, which is fantastic, especially with such a reasonable spending requirement.
For context, prior to this, the card had a welcome bonus of 125,000 Ultimate Rewards points with the same spending requirement, so this offer is significantly richer. For that matter, this is the best publicly available welcome bonus we’ve ever seen on this card, period.
Are you eligible for the Chase Sapphire Reserve bonus?
When it comes to eligibility for the Chase Sapphire Reserve, here’s the official language in the application:
This credit card is unavailable to you if you currently have one open. The new cardmember bonus may not be available to you if you previously held this card or received a new cardmember bonus for this card. We may also consider the number of cards you have opened and closed in determining your bonus eligibility.
As you can tell, the terms here aren’t that explicit. However, you’re definitely not eligible for the bonus if you currently have this exact card, and you also may not be eligible for the bonus if you previously held this card, regardless of whether or not you received the bonus. Then there’s also the vague language about how other factors may be used in determining your eligibility for the card.
Furthermore, eligibility for the card (including the bonus) is unrelated to whether or not you have or have had the Chase Sapphire Preferred® Card (review). Note that these restrictions are based on whether you’re the primary cardmember on one of these cards — if you’re currently an authorized user (or have been one in the past), you’d be eligible.
Also keep in mind the general rules of applying for Chase cards, including the 5/24 rule (though there are increasingly reports of people being approved in spite of being over the 5/24 limit).
Nowadays Chase will typically let you know during the application process if you’re eligible for the bonus on a card, before there’s a hard pull, so that’s good news if you want to try to apply and see if you qualify.
Is the Chase Sapphire Reserve worth it, and why?
The $795 annual fee Chase Sapphire Reserve is one of the most popular premium credit cards, thanks to its great rewards structure and benefits. The card has the following perks, among other things:
- The Sapphire Reserve has a $300 annual travel credit, that can automatically be applied to any purchase coded as travel; this should basically be worth face value to anyone who has the card
- The Sapphire Reserve offers a Priority Pass™ Select membership, as well as access to Chase Sapphire Lounges (which are some of the best credit card lounges you’ll find anywhere), and access to select Air Canada Lounges
- The Sapphire Reserve offers other valuable credits, including up to $500 in annual hotel credits, up to $300 in annual dining credits, up to $300 in annual Stubhub and viagogo credits, and much more
- The Sapphire Reserve has an amazing rewards structure — earn 8x points on Chase Travel bookings, 4x points on flights and hotels booked direct, 3x points on dining, and 1x points on all other purchases
- The Sapphire Reserve has great travel protection, including for delayed flights, lost bags, rental cars, and more
- The Sapphire Reserve acts as a good “hub” card for Chase Ultimate Rewards, and lets you maximize the other cards in the portfolio, including the ability to transfer points to Chase travel partners
- The Sapphire Reserve offers a Global Entry, TSA PreCheck, or NEXUS credit, once every four years
- The Sapphire Reserve offers a good incentive for spending, because if you spend $75,000 per year on the card, you receive IHG One Rewards Diamond status, Southwest Rapid Rewards A-List status, a $500 Southwest credit, a $250 Shops at Chase credit, and more
Read a full review of the Chase Sapphire Reserve here.
Chase Sapphire Reserve welcome bonus FAQs
The Chase Sapphire Reserve is currently offering a welcome bonus of 150,000 Ultimate Rewards points upon completing minimum spending, which is the best offer that we’ve ever seen on the card.
Based on current rules, the biggest restriction to be aware of is that you’re not eligible for the Chase Sapphire Reserve welcome bonus if you’ve had this card in the past. However, under current rules, bonus offer eligibility is unrelated to whether you’ve had any other Chase credit card, including the Chase Sapphire Preferred.
Chase has the 5/24 rule, whereby you may not be eligible for a new card if you’ve opened five or more new card accounts across issuers (with some exclusions) in the past 24 months. While Chase does still seem to use the 5/24 rule for some, it’s not consistently applied nowadays, so it’s a case of “your mileage may vary.”
Under the current rules, you absolutely can earn the Chase Sapphire Reserve welcome bonus if you have the Chase Sapphire Preferred. There’s no reason to leave all those points on the table.
If you’ve been the authorized user on someone else’s Chase Sapphire Reserve, then you’re absolutely still eligible for the welcome bonus if you apply as the primary cardmember.
While the current best-ever Chase Sapphire Reserve welcome bonus is limited time, we unfortunately don’t know when it will be pulled, though we do know it will be ending soon.
Bottom line
The Chase Sapphire Reserve is currently offering a best-ever welcome bonus of 150,000 Ultimate Rewards points upon completing minimum spending, which is the best publicly available bonus we’ve ever seen on the card. The offer will be ending soon, so if you’re interested, you’ll want to apply ASAP.
This is a great premium card that offers lots of perks, so if you spend a lot on dining and travel, value lounge access, and like Chase’s points redemption opportunities, definitely consider this card, as it’s quite easy to justify. Either way, if you don’t yet have the card and are eligible, there’s absolutely no reason not to take advantage of this incredible bonus.
Do you plan on picking up the Chase Sapphire Reserve with 150K bonus points?