Chase just released his highest level to date Chase Sapphire Reserve® (see rates and fees) bonus, and it may be one of the most valuable credit card offers we’ve seen in years.
New applicants you can win 150,000 Pursue ultimate rewards points after spending $6,000 on purchases in the first three months of account opening. This is a significant increase over recent offerings and places the card very high against its premium card competitors.
Even with such a large bonus, the key question remains: Is this deal worth taking on right now or should we wait for something better to come along?
How good is this Chase welcome offer of 150,000 points?
This is the best publicly available offer have we ever seen in the Sapphire Reserve.
The most recent offer was 125,000 points with the same $6,000 minimum spend requirement (no longer available). Before that, the offers were usually much lower.
There was also a very targeted offer up to 175,000 points by the end of 2025 (no longer available) and there are no signs of it returning.
That makes the current offer especially attractive: You’ll get an extra 25,000 points for the exact same spending requirement.
April 2026 TPG ratings set Ultimate Rewards points at 2.05 cents each, making this bonus worth $3,075.
What can 150,000 points really get you?
The real value comes from how you use the points.
Reward your inbox with TPG’s daily newsletter
Join over 700,000 readers to receive breaking news, in-depth guides, and exclusive offers from TPG experts.
If you use Chase Ultimate Rewards points to book things like flights and hotels through Chase Travel℠ Portalyou can get a value of up to 2 cents per point thanks to Point increase.
That means your 150,000 point bonus would be worth up to $3,000.
If you’re in the mood for a luxury hotel, Chase just launched a selected list of high-end hotels where you can get up to 2.5 cents per point.
Ultimate Rewards Points can also be transferred to 14 partner airlines and hotels at a 1:1 ratio, which is typically the most valuable way to redeem your points.
If you max out transfer partners, it’s very possible to get well over $3,000 in travel value from this bonus alone.
Here are some real world examples:
| Transfer program(s) | Redemption details | Points required (plus taxes and fees) | Cash price | Value per point |
|---|---|---|---|---|
|
Virgin Atlantic Flight Club
|
Scandinavian Airlines premium economy class for four passengers from New York John F. Kennedy International Airport (JFK) to Copenhagen Airport (CPH) |
150,000 (plus $22.40) |
$14,862 |
9.9 cents |
|
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 |
|
|
A beach villa for three nights at the Park Hyatt Maldives Hadahaa |
75,000 (off-peak times on current prize table) |
$2,819 |
3.8 cents |
|
|
United premium economy for two passengers from Chicago O’Hare International Airport (ORD) to Tokyo Haneda Airport (HND) |
130,000 (plus $11.20) |
$4,829 |
3.7 cents |
Why is this offer so attractive?
Big bonuses aren’t new, but bonuses at this level, on a card like the Sapphire ReserveThey are still rare.
Beyond the high bonus, Sapphire Reserve remains one of the most comprehensive premium travel cards.
The spending requirement is still $6,000, but you’ll get many more points in return, and they’re still among the most flexible available.
Key benefits include:
For most TPG users, the combination of lounge access and flex points is what keeps it valuable, despite the high annual fee.
Related: Chase Sapphire Reserve Statement Credits: What They Are and How to Use Them
Who is eligible for this bonus?
As with most Chase cards, there are two key constraints to take into account:
In practice this means:
- If you opened five or more personal credit cards in the last 24 months, it’s unlikely you’ll be approved.
- If you’ve already gotten a Sapphire Reserve bonus before, it’s unlikely you’ll get another one.
Should you apply now?
This is the best publicly available deal we’ve seen in the Sapphire Reservemaking this the best time to apply.
While there has been a specific offer of up to 175,000 points in the past (no longer available), there is no indication it will return.
Meanwhile, public offerings at this level don’t come around often, and when they do, they don’t always last long.
Instead of trying to schedule a better deal, your decision should come down to whether the card fits your lifestyle.
Before applying, ask yourself:
- Can I comfortably meet the $6,000 spending requirement in three months?
- Will I get enough value from the card’s benefits to justify the $795 annual fee?
- Do I plan to use Ultimate Rewards points effectively (through transfer partners or the Chase Travel portal)?
If the answer to the above questions is yes, this is a great opportunity to earn a lot of valuable points.
In a nutshell
The 150,000 point bonus in the Chase Sapphire Reserve It’s the best publicly available deal we’ve seen on the card. According to TPG ratings, the bonus alone is worth more than $3,000 before taking into account the card’s premium benefits.
This is the best time to apply if you can meet spending requirements and get ongoing value from the card’s benefits.
For more information, read our full review of the Chase Sapphire Reserve.
Apply here: Earn 150,000 bonus points with the Chase Sapphire Reserve.
