Chase Sapphire Reserve Welcome Bonus: The Chase Sapphire Reserve® is running a limited-time welcome offer of 150,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening. Chase is also listing the card with a $795 annual fee and benefits like a $300 annual travel credit, lounge access, and travel protections.
That makes this one of the biggest public offers the card has had. TPG says it is the best publicly available Sapphire Reserve offer it has seen, and Chase’s current card page shows the 150,000-point bonus on the product. The old 125,000-point offer is gone, so this version gives more points for the same spending goal.
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What 150,000 Points Can Do
The real magic is in how those points are used. TPG’s May 2026 valuation puts Chase Ultimate Rewards points at 2.05 cents each, so this bonus is worth about $3,075 by that estimate. If you redeem through Chase Travel with Points Boost, Chase says points can be worth up to 2 cents each for many travel bookings, and some luxury hotels can go even higher.
Ultimate Rewards points can also be transferred to 14 airline and hotel partners at a 1:1 ratio, which is often the most valuable way to redeem your points.
Here are a few real-world examples:
| Transfer program(s) | Redemption details | Points required (plus taxes and fees) | Cash price | Value per point |
|---|---|---|---|---|
|
Virgin Atlantic Flying Club
|
Scandinavian Airlines premium economy for four passengers from New York’s John F. Kennedy International Airport (JFK) to Copenhagen Airport (CPH)
|
150,000 (plus $22.40)
|
$14,862
|
9.9 cents
|
|
Air Canada Aeroplan
|
Swiss business class for two passengers from Miami International Airport (MIA) to Zurich Airport (ZRH)
|
140,000 (plus $114.82)
|
$13,503
|
9.6 cents
|
|
World of Hyatt
|
A beach villa for three nights at the Park Hyatt Maldives Hadahaa
|
75,000 (lowest rate on new award chart)
|
$2,973
|
4 cents
|
|
United Airlines
|
United premium economy for two passengers from Chicago’s O’Hare International Airport (ORD) to Tokyo’s Haneda Airport (HND)
|
130,000 (plus $11.20)
|
$4,829
|
3.7 cents
|
Another strong path is transferring points. Chase says Ultimate Rewards can move to airline and hotel partners, and TPG notes that this is often where the best value lives. In plain words, these points can stretch much farther than a simple cash-back style reward if you use them well for flights or hotels.
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Who can get it and whether to Jump now
There are two big limits to remember. Chase’s well-known 5/24 rule still matters, and TPG says Chase also blocks people who have already earned a Sapphire Reserve welcome bonus before. In practice, that means someone who has opened five or more personal cards in the last 24 months is usually in rough shape for approval.
This is why many points fans see the current deal as a strong one. The spending target is high, but the bonus is huge too. If the card’s travel credit, lounge access, and protection perks fit your life, the math looks solid. If you do not travel much or cannot easily meet the $6,000 spend, the card becomes a tougher buy because the annual fee is steep.
