Chase has launched an attractive promotion for its premium travel rewards card, the Chase Sapphire Reserve®. New cardholders can earn a staggering 150,000 bonus points by spending $6,000 on purchases within the first three months of account opening. This bonus represents the highest public offer ever available for the card, valued at approximately $3,075 according to TPG’s May 2026 valuations.
As excitement builds around this lucrative offer, many potential applicants have raised questions about eligibility and the terms associated with the Sapphire Reserve card. Here are answers to some frequently asked questions:
Previous Cardholders and Eligibility:
Individuals who have previously held the Sapphire Reserve card will likely not qualify for the 150,000-point bonus. Chase’s guidelines specify that prior cardholders may be ineligible, even if they did not earn a bonus during their previous ownership.
Current Cardholders:
Existing Sapphire Reserve cardholders cannot apply for the current bonus. Furthermore, attempts to change or close accounts to regain eligibility are unlikely to succeed due to Chase’s strict policies on bonuses tied to past ownership.
Authorized Users:
It’s important to note that being an authorized user on someone else’s Sapphire Reserve card does not affect your eligibility for your own card and its associated bonus, provided you meet the other requirements.
General Eligibility Rules:
To be eligible for the 150,000-point bonus, the following criteria must be met:
- You cannot currently hold a Sapphire Reserve card.
- Previous cardholders may be ineligible for the bonus.
- Applicants who have opened five or more new credit cards in the last 24 months are likely to be denied a new card.
- Approval is based on both credit profile and relationship with Chase.
Upgrading from Sapphire Preferred:
Those who currently have the Chase Sapphire Preferred® Card and have never owned the Sapphire Reserve may be eligible for the new card and its bonus, assuming they meet the necessary requirements. However, simply upgrading from Sapphire Preferred will not qualify you for the bonus.
Value of the Bonus:
With the current bonus at 150,000 points, it is the highest publicly available offer for the Sapphire Reserve. Previously, the card offered 125,000 points for the same spending requirement, and while there was a targeted offer of 175,000 points in late 2025, it was not widely available.
According to TPG valuations, Chase Ultimate Rewards points are valued at approximately 2.05 cents each, translating the 150,000 bonus into a total worth of around $3,075. The value of, and how one might utilize, these points can vary significantly based on redemption type—whether booking flights or hotels directly or transferring points to Chase’s airline and hotel partners.
Maximizing the Bonus:
To effectively meet the $6,000 spending requirement within three months, several strategies can be employed:
- Use the card for regular expenses such as rent or bills that can be paid via credit.
- Consider prepaying upcoming costs like insurance and utilities.
- Covering larger bills during outings can also contribute.
It is crucial for potential cardholders to remain vigilant of their bank account balances to avoid interest charges and late fees, which could diminish the value of earned rewards.
In summary, the Sapphire Reserve’s current 150,000-point bonus represents a significant opportunity for new cardholders, but understanding the eligibility criteria and maximizing spending will be key steps in reaping the full benefits of this offer. With an annual fee of $795, this card comes with numerous perks designed to help offset the cost, making it potentially worthwhile for those who travel frequently.
