Depending on your perspective, the Chase Sapphire Reserve card is now featuring an increased or decreased welcome offer of 125,000 Ultimate Rewards points after spending $6,000 on purchases within the first 3 months.
In terms of total points, this is the biggest welcome offer that we’ve ever seen on the Sapphire Reserve, although some folks might have preferred the one that preceded it, which offered 100K points and a $500 one-time use certificate on Chase Travel℠. Regardless, it’s a serious haul and is enough to put the Sapphire Reserve into the #2 slot for consumer cards on our Best Offers Page.
The Offer & Key Card Details
| Card Offer and Details |
|---|
 ⓘ $1544 1st Yr Value Estimate$300 travel credit valued at $285, $300 StubHub credit ($150 Jan-Jun and again Jul-Dec) valued at $75, $500 Chase The Edit credit ($250 Jan-Jun and again Jul-Dec) valued at $125, $300 Chase Dining credit for dining at Sapphire Reserve Tables restaurants ($150 Jan-Jun and again Jul-Dec) valued at $75 Click to learn about first year value estimates 125K Points ⓘAffiliateThis is an affiliate offer. Frequent Miler may earn a commission if you are approved for this offer 125K after $6K spend in 3 months. $795 Annual Fee Note that promotional travel credit is one-time use and if it is applied to a transaction of less than $500, the remaining value will be forfeited. FM Mini Review: Good all-around card for frequent traveler. Best when paired with no annual fee Chase Freedom Flex, Freedom Unlimited & Chase Ink Cash cards. Click here for our complete card review Earning rate: 8X Chase Travel℠ ✦ 4X flights and hotels booked direct ✦ 3X Dining ✦ 5X Lyft (through September 2027) Base: 1X (1.5%) Flights: 4X (6%) Portal Flights: 8X (12%) Hotels: 4X (6%) Portal Hotels: 8X (12%) Dine: 3X (4.5%) Card Info: Visa Infinite issued by Chase. This card has no foreign currency conversion fees. Big spend bonus: After spending $75,000 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 ✦ $250 credit to The Shops at Chase Noteworthy perks: $300 Annual Travel Credit ✦ Transfer points to airline & hotel partners ✦ Up to $500 The Edit credit annually ($250 January to June and again July to December) ✦ Up to $300 Dining credit through Sapphire Reserve Exclusive Tables ($150 January to June and again July to December) ✦ Complimentary AppleTV+ and Apple Music through 6/22/27 ✦ Up to $300 in StubHub credits ($150 January to June and again July to December) ✦ Points worth up to 2 cents each towards qulalified bookings through Chase Travel ✦ 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 creditPrimary 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 |
Notable features of the Chase Sapphire Reserve
- Points Boost: You can get up to 2 cents per point value for travel bookings via Chase Travel with Points Boost offers. All hotels available through The Edit (should) have 2x Points Boosts. More details about Points Boosts can be found here: Chase Travel ending 1.5c & 1.25c redemptions, replacing with Points Boost.
- $150 credit every 6 months towards Sapphire Reserve Exclusive Tables: Exclusive Tables is a curated selection of high-end restaurants available through a special version of OpenTable. You do NOT need to make a reservation or pay through Chase or OpenTable in order to earn the $150 rebate every 6 months (from January through June and again from July through December). Simply use your card at one of the included restaurants listed on the platform.
- The Edit $250 credit every 6 months: The Edit is a curated list of high-end hotels and resorts. When you book through The Edit, you get benefits like $100 property credit, daily breakfast for two, room upgrades, etc. With the Sapphire Reserve card, you can get up to $250 in statement credits every 6 months (from January through June and again from July through December) for prepaid bookings made with The Edit. A two-night minimum applies.
- StubHub & viagogo credit: Get up to $150 in statement credits every 6 months (January through June and again from July through December) for StubHub and viagogo purchases.
- $300 annual travel credit: Get $300 back each membership year for any travel spend. Qualifying spend does not earn points.
- DashPass + Monthly DoorDash benefits: Cardholders get a complimentary DashPass membership for 12 months when activated by 12/31/27 and access to one monthly $5 restaurant promo and two $10 promos for non-restaurant orders. These coupons must be applied at checkout when placing an order and require using your Sapphire Reserve for Business card, and that it is enrolled in DashPass. Monthly promos expire each month if unused.
- Lyft benefits: $10 monthly in-app Lyft discounts, plus earn 5x on Lyft through 9/30/27
Quick Thoughts
This is closer to the offer that we were expecting for the initial launch of the new Sapphire Reserve, but whether or not it’s better or worse than the previous version is in the eye of the beholder. Personally, I’d take 25,000 Ultimate Rewards points over the $500 one-time-use credit for Chase Travel that expires in a year, but there are undoubtedly some folks who will put that credit to good use.
25,000 points is what it would take to book $500 of travel through the portal with a 2x Points Boost (like The Edit properties), so it’s a smart follow-up offer from Chase. If you were turned off by the travel credit, 25,000 extra points might be exactly what it takes to pique your interest.
Regardless of whether or not the card is a keeper, the first-year value here is substantial. Not only do you get 125K points after meeting the minimum spend, you’ll also get up to $600 in travel credits, $750 in credits towards The Edit, $450 for Exclusive Tables, and $450 towards StubHub. The annual fee is steep, but that’s a lot of bling, provided you can use those coupons credits.
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.
- 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.
Want to learn more about miles and points? Subscribe to email updates or check out our podcast on your favorite podcast platform.
Makes me happy to see this, maybe for once consumers are starting to be turned off by these high AF cards and we’re finally reaching the ceiling regardless of whatever coupons they add? It’s a great SUB for sure and considering how apparently they haven’t been happy with new signups, I really wonder how many people who did sign up are going to cancel/PC when next year’s fee hits.
I initiated a Sapphire Reserve application last night and got a pop-up window stating that I was ineligible for the sign-up bonus (I already have a Sapphire Preferred). It asked if I wished to proceed with the application. I declined.
Any thoughts on the 48 month rule as it applies to this updated card? P2 opened a Preferred card 36 months ago (and downgraded that to the Flex card 24 months ago).
There’s an Amex-like pop-up system now. If P2 is an ineligible receiver down field, it should warn of such prior to processing the application. Best of luck.
Still a hard pass. I don’t care if Chase waived 5/24 to get this mediocre and expensive card. They ruined their entire rewards program. AND have poor earning cards (and service).
For YOU. Sorry to hear. For some people, it’s a win.
Obviously no one signed up because it’s a crappy long term hold card. It will probably go up to 150k soon.
You clearly possess keen industry insights. You should expect a lucrative consulting contract awarded by Jamie himself.
Truth hurts sometimes… it’s just not even close to a competitive card. I literally don’t understand why someone would hold this when the platinum, capital one X, Citi Strata Elite, and the New Atmos Summit card are out there and all excel in areas better than this card. I can only imagine how many downgrades there will be within a year. Maybe the reserve will make more money than before with their few remaining customers, but they will lose so many customers. I’m guessing they will start offering significant retention bonuses once they start bleeding customers.
LOL. Apparently not as many people signed up as they projected. Should have put more of that massive marketing budget for ads into a better SUB offer that actually entices customers!
Tim—Confused with your closing paragraph about the value from CSR. $650 in travel credits? $750 towards the Edit? $450 Exclusive Tables? $450 StubHub?
Because you can use the credits for 2H25, 1H26 and 2H26
Thanks for the clarification!
Although they have language that they might claw them back if you cancel your card within 90 days.
He’s inferring that the card is not a keeper. Which it isn’t. And honestly not even worth getting…unless you’re a Hyatt fanboy desperate for pts. Then it makes sense.
$795 for 125k UR points is .65 cents per point. At that rate I’m a buyer. The rest will be worth something to me, but not nearly advertised value. It’s not a keeper in all likelihood.
Wonder if this increase from the original offer (at least in terms of UR) indicates that Chase hasn’t seen the results they would like from the rollout of the new CSR. I know I would much rather have 25k UR than a one-time-use $500 portal credit.
Amex plays around with SUBs. It probably has an A/B test type algorithm that seeks to determine the right SUB/MSR combination that it should be offering. Perhaps during different prevailing market conditions.
I don’t think you understand what A/B testing is or how it works.
Min spend increased to 6K. It was 5K for the previous offer.
Already have the Reserve but to me this would be a better offer than 100k + $500 Chase Travel Credit. Would much rather have 25k to get 5-10cpp through Hyatt or domestic and short/medium-haul international flights. 25k typically can get me $1000 in value
$800 annual fee….OUCH! Let me check with my investment broker at Glodman Sachs first..
What do the Nihilists think?