As expected, Chase has lowered the welcome offer for the Sapphire Reserve for Business® card. However, requiring 50% less in minimum spend.
The old offer was 200k Ultimate Rewards points after $30k in eligible purchases; the new version is down to 150,000 points, but after “only” $20k in spend. Depending on your spending capacity, that could be a disappointment or a blessing.
The Offer and Key Card Details
| Card Offer and Details |
|---|
 ⓘ $1595 1st Yr Value Estimate$300 travel credit valued at $285, $500 Chase The Edit credit (2x per calendar year) valued at $125, $100 GiftCards.com credit ($50 Jan-Jun and again Jul-Dec for cards purchased from https://reservebusiness.giftcards.com/) valued at $50 Click to learn about first year value estimates 150K points ⓘAffiliateThis is an affiliate offer. Frequent Miler may earn a commission if you are approved for this offer 150K points after $20K spend in first 3 months.$795 Annual Fee Recent better offer: 200K points after $30K spend in first 6 months. (Expired 1/22/26) FM Mini Review: Could be very appealing for a business that books a lot of travel, as it earns 8x through Chase Travel or 4x when booking direct through airline and hotels. It has decent perks, best-in-class travel protections, and earns valuable Chase Ultimate Rewards points. Best when paired with no annual fee Chase Freedom Flex, Freedom Unlimited & Chase Ink Cash cards Earning rate: 8X Chase Travel℠ ✦ 4X flights and hotels booked direct ✦ 3X social media and search engine advertising ✦ 5X Lyft (through September 2027) Card Info: Visa Infinite issued by Chase. This card has no foreign currency conversion fees. Big spend bonus: After spending $120,000 each calendar year, get the following benefits: IHG One Rewards Diamond Elite Status ✦ Southwest Airlines A-List Status ✦ $500 Southwest Airlines credit when booked through Chase Travel ✦ $500 credit to The Shops at Chase Noteworthy perks: $300 Annual Travel Credit ✦ Up to $500 The Edit credit ($250 twice per calendar year) ✦ Up to $400 ZipRecruiter credit ($200 January to June and again July to December) ✦ $200 Google Workspace credit ✦ $100 Giftcards.com ($50 January to June and again July to December for purchases at giftcards.com/reservebusiness) ✦ Points worth 2 cents each towards qualified bookings through Chase Travel(SM) ✦ Transfer points to airline & hotel partners ✦ Primary auto rental coverage ✦ Priority Pass Select lounge access ✦ Access Sapphire Lounges for yourself and 2 guests for free ✦ Access select Air Canada Maple Leaf lounges when flying Star Alliance ✦ Up to $120 Global Entry or TSA PreCheck® or NEXUS Application Fee Statement Credit ✦ Free DoorDash DashPass through 2027 ✦ Two promos of $10 off each month on non-restaurant orders from DoorDash ✦ $5 off restaurant order each month from DoorDash ✦ $10 monthly Lyft credit See also: Chase Ultimate Rewards Complete Guide |
Comparing the Sapphire Reserve® cards
| Consumer | Business | |
|---|---|---|
| Annual Fee | $795 | $795 |
| Additional Card Fee | $195 | $0 |
| Point Earning Rates: | ||
| Chase Travel | 8x | 8x |
| Flights & Hotels | 4x | 4x |
| Dining | 3x | 1x |
| Online Advertising | 1x | 3x |
| Lyft through 9/30/27 | 5x | 5x |
| Perks: | ||
| Points Boost (Up to 2x) | Yes | Yes |
| Point transfer to Airlines & Hotels | Yes | Yes |
| Excellent Travel Protections | Yes | Yes |
| Priority Pass w/ 2 Guests | Yes | Yes |
| Sapphire Lounge Access w/ 2 Guests | Yes | Yes |
| Authorized User Lounge Access | Yes | No |
| IHG Platinum Status thru 12/31/27 | Yes | Yes |
| Free Subscription to Apple TV+ | Yes | No |
| Free Subscription to Apple Music | Yes | No |
| Reserve Travel Designers | Yes | No |
| Sapphire Reserve Exclusive Tables | Yes | Yes |
| Credits: | ||
| Travel Credit | $300 per Membership Year | $300 per Membership Year |
| Global Entry / TSA Pre / Nexus | $120 per 4 Years | $120 per 4 Years |
| The Edit (Hotels) | $250 2x per year | $250 2x per year |
| Lyft In-App Credit | $10 per Month | $10 per Month |
| DoorDash Restaurant Promo | $5 per Month | $5 per Month |
| DoorDash Non-Restaurant Promo | $10 twice per Month | $10 twice per Month |
| Sapphire Reserve Exclusive Tables | $150 per 6 Months | $0 |
| StubHub | $150 per 6 Months | $0 |
| Peloton | $10 per Month | $0 |
| ZipRecruiter | $0 | $200 per 6 Months |
| Google Workspace | $0 | $200 per Year |
| giftcards.com/reservebusiness | $0 | $50 per 6 Months |
| Big Spend Benefits: | $75K Spend: | $120K Spend: |
| IHG One Rewards Diamond Elite Status | Yes | Yes |
| Southwest Airlines A-List Status | Yes | Yes |
| $500 Southwest Airlines credit | Yes | Yes |
| Shops at Chase credit | $250 | $500 |
Quick Thoughts
The welcome offer on the business version of the Sapphire Reserve card is quite easy to understand. 150K Ultimate Rewards points are a decent haul, though the $20k minimum spend requirement will be a hurdle for some, especially since you now have to do it in three months.
Depending on how you look at it, this could be an improvement on the initial offer, which gave you 200k points after $30k, or 6.66 points per $1. This version is slightly more efficient, generating 7.5 points per $1. My assumption is that most folks who could swing $20k in spend would also be able to do $30k and would prefer more points, but the 50% reduction is significant – although that’s mitigated somewhat by having to do it in three months instead of six.
Neither version is a show-stopper, and I’ll remain on the sidelines. Chase offers other business cards with excellent welcome offers, like the Ink Business Preferred 100K, which requires only $8k in spend. While those cards are missing many of the coupons features of the Sapphire Reserve for Business, you’ll have to run the numbers to decide whether those add-ons justify the $700-$800 in additional annual fee.
Chase Application Tips
- 5/24 Rule: You most likely will not get approved for a new card if you have opened 5 or more cards (with any bank) within the past 24 months. Most business cards do not count towards that five card total. Business cards that DO count include: TD Bank, Discover and the Capital One Spark Cash Select, Spark Miles and Spark Miles Select.
- 24 Month Rule: If you’ve previously had a card before, you can only get a welcome offer on that card again if you no longer have the card AND if it has been more than 24 months since you last received a welcome offer for that card. This rule does not apply to the Sapphire Preferred and Reserve cards (see below). There can be exceptions with some business cards.
- Sapphire cards: The Sapphire Preferred or Sapphire Reserve cards no longer have a family rule that prevents you from getting one if you currently have the other. However, both now have significant limitations that may prevent you from being eligible for a welcome offer if you've previously had the same card. In that event, you'll get a pop-up window that tells you that you're not eligible before you get a credit check and will ask whether or not you want to proceed with the application without the welcome offer attached.
- Southwest "Family" Rules: Chase applies additional "family" rules to the Southwest cards. You're not eligible for the welcome offer on a personal Southwest card if you currently have one, or if you've received a welcome offer on any personal Southwest card within the last 24 months. This doesn't apply to business cards. You also can't be approved for the Southwest consumer card if you already have one open.
- IHG "Family" Rules: You're not eligible for the welcome offer if you've received a welcome offer on any personal IHG card within the last 24 months. You also can't be approved for another IHG consumer card if you already have one open. You can have both an IHG personal and an IHG business card.
- Ink "Lifetime" Rule: You "may not" be eligible for the welcome offer on an Ink no-annual-fee card if you have ever had the same card or any other Chase for Business card without an annual fee. In addition, you may not be eligible for a welcome offer on a Chase Ink Business Preferred card if you currently have the card or have had it in the past. We don't know how often this is enforced.
- 2 per month Rule: Most applicants are limited to 2 new cards per 30 days. Business cards are usually limited to one per 30 days.
- Marriott cards: Approval for any Marriott card is governed by a labyrinthine set of unintuitive rules. You can see the full eligibility chart here.
- Card Limits: Chase doesn't have a strict limit on the number of cards that you can have, but it does place limits on the total amount of credit that they will issue you across all cards. Because of this, reconsideration can sometimes be successful by moving credit from one existing card to the new card that you want.
- Application Status: Call (888) 338-2586 to check your application status.
- Reconsideration: If denied, call (888) 270-2127 for personal cards, or (800) 453-9719 for business cards, and ask for your application to be reconsidered.
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I still see the 200k/$30k offer as of 11:25am pacific on th 1/22/26
Gone now.
Currently in PAIN working through the 30K spend.. Only 2/3 done and it’s been 2 months already… Running out of property tax to pay, might have to go with taxes now. YEESH.
Not really the point of the article, but 20 isn’t 50% less than 30 (although 30 is 50% more than 20).