Link: Apply now for the Chase Sapphire Reserve® Card
A couple of months ago, we saw the popular Chase Sapphire Reserve® Card undergo a full refresh. The card has a higher annual fee than before, but also has a lot more perks. While the introductory welcome offer is no longer available, a new offer has just been rolled out, and for many people, I think it’ll prove even more lucrative.
In this post:
Chase Sapphire Reserve welcome bonus details
The Chase Sapphire Reserve has an incredible welcome offer, where you can earn 125,000 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 $2,125, which is fantastic.
Just for context, we recently saw a best-ever bonus on the card, which was for 100,000 Ultimate Rewards points plus a $500 Chase Travel credit after completing minimum spending. I think a lot of people will actually prefer this offer, since the points provide a lot more flexibility than the Chase Travel credit.
Purely in terms of the number of points, this is the biggest welcome offer we’ve ever seen on the card.
Who is 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 currently have any other personal Sapphire cards open, 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, as well as other factors in determining your bonus eligibility.
Chase recently updated its rules when it comes to getting approved for Sapphire cards. As you can see:
- The welcome offer may not be available to you if you’ve received a new bonus on this card exact card, or if you currently have any Chase Sapphire personal card
- You should be eligible for the welcome offer if you haven’t had the Chase Sapphire Reserve before, though it may be possible to get the bonus if you’ve just had the Chase Sapphire Preferred® Card (review) before
- Chase now has a pop-up feature when applying for cards, so if you’re not eligible for the welcome bonus, you should receive a message telling you so (before there’s any sort of hard or soft credit pull)
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).
Why the Chase Sapphire Reserve is worth it
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.
Bottom line
The Chase Sapphire Reserve recently underwent a refresh, and is offering a massive welcome bonus of 125,000 Ultimate Rewards points after completing minimum spending.
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.
Do you plan on picking up the Chase Sapphire Reserve with 125K bonus points?
So, pay $795/year for the privilege of jumping through all sorts of hoops to spend money at partners in order to get credits that make the fee worthwhile.
Sorry, but that is not a very premium experience. I don't have either the time or inclination for such nonsense.
Hard pass.
Agree with the other comment that this shows that they are not getting enough new applicants because they had a similar welcome offer recently. No suprise given the changes to the benefits.
Clown card. Chase, STAY IN YOUR LANE and make the UR program great again. And make CSR acceptably mediocre again.
Speculation: chase tried to become Amex, but without the same brand ‘prestige’ (for people who care so much about that) so it hasn’t been working as well. The newbies will jump through the hoops to have “The Amex” but chase doesn’t carry the same weight.
To me, this new all-time-high bonus offer is a clear indication that new applications for this card have dried up.
This overpriced card sucks anyways.
"The new cardmember bonus may not be available to you if you... previously held this card..."
I got the Sapphire Reserve at beginning of 2017 and cancelled at end of 2020. Also had the Sapphire Preferred from 2021 to 2024. The language above doesn't give me any confidence I'd receive the 125K point bonus (as tempting as it is), so it seems better to pass on this and target other cards instead.
I suppose, if you were interested, you could click through as far as the pop-up that tells you whether you’ll get the bonus or not, before any sort of credit pull.
If I downgrade my Sapphire Preferred, can I get the bonus?
Yeah but you have to wait a while. If you apply too soon afterwards, you’ll get declined.
@Ben - I currently have the preferred, which was a downgraded Reserve from years ago. I tried filling out the application but hadn't gotten the pop-up. When does it generally show up, if it's going to?
@ JY -- It typically shows up before you submit your application. It seems there are sometimes glitches and it's not showing up correctly, but that's how it's supposed to work.
Ben,
I was apparently approved a couple of days ago with the old offer as I didn't see a pop-up, got instant approval instead (I would obviously have withdrawn the application if I got the pop-up), and today saw secure messages from Chase confirming that the old offer was attached to my account as well as the bonus tracker in the app. Will presumably downgrade my Preferred to Freedom for a year and then upgrade...
Ben,
I was apparently approved a couple of days ago with the old offer as I didn't see a pop-up, got instant approval instead (I would obviously have withdrawn the application if I got the pop-up), and today saw secure messages from Chase confirming that the old offer was attached to my account as well as the bonus tracker in the app. Will presumably downgrade my Preferred to Freedom for a year and then upgrade it back as I know Reserve won't be a keeper card in my use case. Might just end up using PYB on the annual fee if I am able to do so since that is a surer thing than Chase Travel.