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For a limited time, you can earn 100,000 bonus points when you spend $5,000 within the first three months of opening a new Chase Sapphire Preferred® Card.

This new offer is one of the most valuable we’ve ever seen from the Chase Sapphire Preferred — already one of our favorite travel rewards cards — and you can use it to get more than $1,000 toward your next trip:

Chase Sapphire Preferred overview

Read our full Chase Sapphire Preferred Card review

Chase Sapphire Preferred limited-time offer

You’ll earn 100,000 bonus points after you open a new Chase Sapphire Preferred Card and spend $5,000 within the first three months.

That’s a huge jump from the card’s typical 60,000-point bonus after spending $4,000 within the first three months. And while the Sapphire Preferred has had boosted offers before, we haven’t seen a bonus this high since 2021.

However, this offer also comes with an increased spending requirement. To spend the required $5,000 by the deadline, you’ll need to make at least $1,667 in purchases each month. Make sure that’s within your budget before you apply; there’s no benefit in taking on credit card debt just to earn a bonus — no matter how valuable it is.

How much is the Chase Sapphire Preferred welcome offer worth?

The 100,000 bonus points you’ll earn from this offer can be worth different amounts depending on how you redeem them — but you can get up to $1,250 toward travel when you use points to book travel through Chase.

You can earn points on your purchases even if you don't spend money in bonus categories. So if you spend all $5,000 in non-bonus categories, that could add 5,000 more points to your account within the first three months. That’s 105,000 points, which you could redeem for up to $1,312.50 in travel through Chase Travel℠.

You’ll get even more if you spend the $5,000 on purchases eligible for bonus rewards. If you spend $5,000 all within the Chase Sapphire Preferred’s 3x bonus categories, for example, you could earn 15,000 points within the first three months on top of the welcome bonus. That would make your total points as much as 115,000 points, worth up to $1,437.50 in Chase Travel spending.

What can you get with 100,000 Chase Sapphire Preferred points?

There are plenty of ways you can use Chase Ultimate Rewards points, but you’re most likely to get the best value when you redeem points for travel.

Here are some of the most valuable redemption options, and some examples to get you inspired for your next trip.

Book travel via Chase Travel

When you use Chase points to book a trip using Chase Travel, you’ll get 1.25 cents per point. In other words, your 100,000-point bonus is worth $1,250 in Chase Travel spending — far above the 1 cent per point minimum we like to see from travel rewards.

Let’s say you’re planning to travel to Portugal this fall and want to use your welcome bonus points toward a 10-day trip from your home near Washington, D.C.

To start, you can book a nonstop Classic fare (which includes a checked bag and seat selection) on TAP Air Portugal for 91,552 points.

Once you arrive, maybe you want to explore Portugal’s beaches and coastal towns for a few days before you head back to the city. You could rent a car after landing at the Lisbon airport for two days using a total of 6,384 additional points.

After using your points for flight and car rental (total 97,936 points), you’ll have about 7,064 left — assuming you started with 105,000 after earning both the welcome bonus and 5,000 points on non-bonus required spending.

Once you return from your road trip, you’ll have a few days to spend in Lisbon. A stay at the Dos Reis by the Beautique Hotels for three of your remaining nights would cost $634.61. But using the rest of your available points, you could bring down that price by $88.30 cash to 7,064 points and $546.31.

Don’t forget: the Chase Sapphire Preferred also has up to a $50 annual hotel statement credit when you book through Chase Travel. The credit will automatically apply after you pay for a hotel stay using your card. In this case, the credit would bring your total price down to about $496.31 for the three-night stay.

You’ll have to spend additional cash on your remaining nights in Portugal. But even though your points don’t cover everything, redeeming them for a round-trip flight, car rental, and a portion of your hotel cost on an international trip is still some major savings.

Related: Amex points vs. Chase points — Which is the better rewards program?

Transfer to partners

Another great way to spend your Chase points is by transferring them to one of Chase’s airline or hotel partner programs. Not only can you potentially get more value, but transferring can also help you score status benefits and other perks from loyalty programs you prefer.

Say, for example, you want to book a Hawaiian getaway for two later this fall. You’re a regular Southwest Airlines flyer, so you transfer your Chase bonus points to Southwest at a 1:1 ratio. Two tickets on Wanna Get Away fare with one stop either way will cost you just 88,000 Southwest points (plus $22.40 in taxes and fees).

If you were to buy the same two tickets at the same fare class using cash on Southwest, you would pay $1,235.60 today. That makes this transfer an incredibly valuable redemption — you won’t even need to use the full welcome bonus to book your fare.

Related: How to earn elite airline status with a credit card

Take advantage of bonus offers

Always look out for limited-time bonus offers between Chase and its transfer partners. These can boost the value of your points when you transfer them so you’ll get even more value when you redeem with the airline or hotel.

For example, Chase is currently offering a whopping 80% bonus on IHG One Rewards transfers. That could turn your already-high 100,000 bonus points into 180,000 IHG One points.

You will need to make the transfer by April 30, which gives you a lot less time to meet the welcome bonus requirements. But if that’s still within your budget, this could be a great use of points.

Let’s say you want to use your points for a last-minute trip to Palm Springs, California over Memorial Day weekend. You can transfer your points to IHG’s Riviera Resort in Palm Springs and stay five nights for an average of 37,000 points per night or a total 185,000 points.

That’s more than the 180,000 points you’ll get when you transfer your 100,000 bonus points with the 80% bonus. But don’t forget about the minimum 5,000 points you’ll get by meeting the $5,000 spending requirement within your first three months. If you transfer 105,000 Chase points to IHG with an 80% bonus, you’ll have 189,000 IHG points to use — enough to cover your full stay.

If you were to pay for the same stay in cash, it would cost you $1,372.56, which makes this transfer a great use of your welcome bonus points.

Of course, not every stay will offer the same value for your points, especially without a transfer bonus. But bonuses like this can be great for offsetting elevated prices when you may not have flexibility in your schedule — like a last-minute trip to a popular tourist destination over a holiday weekend. It can also help you get more value from your favorite hotel loyalty program.

Should you open a Chase Sapphire Preferred Card?

Beyond its valuable bonus, the Chase Sapphire Preferred Card is one of our favorite travel credit cards.

It has plenty of long-term value with bonus categories for travel and everyday purchases. But you should be open to booking travel through the issuer’s portal to get the most from this card. Every Chase Sapphire Preferred point you earn gets a 25% boost when you book travel through Chase Travel. As you use your card to earn points over time, you can get this great redemption rate on any number of flights, hotels, car rentals, and more.

A few annual benefits also help boost your value and offset the $95 annual fee. You can get the annual hotel credit worth up to $50 back on hotel bookings through Chase Travel each account anniversary, as well as annual bonus points equal to 10% of your previous year’s purchases.

Like many rewards cards, the Chase Sapphire Preferred also has solid travel and purchase protections and no foreign transaction fees. These might not be as flashy as other card benefits, but they can save you a lot of money when you need them.

If the Chase Sapphire Preferred Card was already on your mind, there’s never been a better time to apply. You’ll get a ton of value from the limited-time bonus, but you can also maximize your spending and rewards for future travel.

Read more: Best travel credit cards

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