Holy smokes — is the new Chase Sapphire Reserve 125K-point bonus a best-ever offer?
A pretty shocking thing just happened in the world of points, miles and credit cards.
As you may have seen, the Chase Sapphire Reserve®'s (see rates and fees) biggest welcome offer to date just wrapped up ... as in, it ended a few hours ago. And we fully expected it would revert to a lower welcome bonus, which is the usual course following a limited-time offer.
But apparently, these are not usual times, and the number of points offered for new Chase Sapphire Reserve cardholders has actually increased.
Believe it or not, the Chase Sapphire Reserve is now offering 125,000 Chase Ultimate Rewards points after spending $6,000 on the card in the first three months of card membership.
Though Chase is no longer offering a $500 Chase Travel℠ promo credit plus 100,000 Ultimate Rewards points after spending $5,000 in the first three months from account opening (this offer is no longer available), is the new 125,000-point offer better?
The most bonus points we've ever seen for the Sapphire Reserve
By awarding 125,000 bonus points after hitting the card's spending requirement, this offer is the highest number of welcome bonus points we've ever seen on this card.
For those who want some more context, the most recent limited-time bonus was for 100,000 bonus points and a special $500 Chase Travel credit after hitting the spending requirement, which was also an excellent bonus.
Prior to that, the only time the public welcome bonus had hit six figures was when the card first launched back in 2016. Otherwise, Chase typically offered between 60,000 and 80,000 bonus points after meeting certain spending requirements.
All that is to say, this is a pretty big and very unexpected turn of events.
If you are the kind of TPG reader who wants to maximize your points and stretch your rewards — for things like five nights at the all-inclusive Secrets St. Lucia resort, two one-way business-class flights to Europe on Air France for 60,000 Flying Blue miles each, or even 10 round-trip economy flights to London on Virgin Atlantic (plus taxes and fees) — then more points in a welcome bonus is always great.
TPG values 125,000 Chase points at over $2,500 (per our August 2025 valuations) when you redeem them through transfer partners such as those mentioned above. You can squeeze a whole lot of travel from one card bonus.
While we've never seen this many bonus points available, Chase's previous offer (100,000 points plus a $500 Chase Travel credit after meeting the spending requirements) was also worth more than $2,500 per our valuations. Plus, to hit the bonus (now expired), the offer required spending $5,000 in the first three months of account opening, compared to Chase's current 125,000-point offer, which requires spending $6,000 in the first three months.
Though previous offers have been lower, Chase did recently increase the card's annual fee.
When the Sapphire Reserve's fee increased from $550 to $795 in June 2025, it came with many new and expanded credits such as a $500 annual statement credit for The Edit hotels (split into two $250 biannual credits; minimum two-night stay required) and a $300 annual statement credit for StubHub or Viagogo purchases of concert and event tickets (split into two $150 biannual credits through Dec. 31, 2027; activation required). So, it is very possible to come out ahead. Though, of course, everyone will have to do the math for themselves to evaluate if the new credits are worth the fee.
On top of all the new credits, I am personally really enjoying the card's new PointsBoost redemption options that allow you to get up to 2 cents in value for Ultimate Rewards points on eligible travel bookings. In fact, I'd go so far as to say PointsBoost has kind of changed my points strategy for the better and opened up all-new redemption suite spots, especially at participating hotels.
Is this 125,000-point offer the new 'best-ever' offer for the Sapphire Reserve?
We hear just how wild this sounds, given that a limited-time offer just ended. However, this new 125,000-point Chase Sapphire Reserve offer may have unexpectedly raised the bar and become our new top offer for this card.
If the way you normally use points aligns with leveraging transfer partners and sometimes getting even more than 2 cents per point in value, I'd argue that this new offer of 125,000 total bonus points after meeting the required spend may be the best one yet for some travelers.
I'd say it is certainly the most valuable personal credit card welcome bonus that's publicly available right now, though there are some great contenders these days.
Overall, if you have been waiting to get the Chase Sapphire Reserve, then you are in luck, as this offer is pretty outstanding and we'd recommend jumping on it.
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| 3X | Earn 3X Miles on Delta purchases. |
| 1X | Earn 1X Miles on all other eligible purchases. |
Pros
- Delta SkyClub access when flying Delta
- Annual companion ticket for travel on Delta (upon renewal)
- Ability to earn MQDs through spending
- Various statement credits for eligible purchases
Cons
- Steep annual fee of $650
- Other Delta cobranded cards offer superior earning categories
- Earn 100,000 Bonus Miles after you spend $6,000 or more in purchases with your new Card within the first 6 months of Card Membership and an additional 25,000 bonus miles after you make an additional $3,000 in purchases on the Card within your first 6 months, starting from the date that your account is opened. Offer Ends 04/01/2026.
- Delta SkyMiles® Reserve American Express Card Members receive 15 Visits per Medallion® Year to the Delta Sky Club® when flying Delta and can unlock an unlimited number of Visits after spending $75,000 in purchases on your Card in a calendar year. Plus, you’ll receive four One-Time Guest Passes each Medallion Year so you can share the experience with family and friends when traveling Delta together.
- Enjoy complimentary access to The Centurion® Lounge in the U.S. and select international locations (as set forth on the Centurion Lounge Website), Sidecar by The Centurion® Lounge in the U.S. (see the Centurion Lounge Website for more information on Sidecar by The Centurion® Lounge availability), and Escape Lounges when flying on a Delta flight booked with the Delta SkyMiles® Reserve American Express Card. § To access Sidecar by The Centurion® Lounge, Card Members must arrive within 90 minutes of their departing flight (including layovers). To access The Centurion® Lounge, Card Members must arrive within 3 hours of their departing flight. Effective July 8, 2026, during a layover, Card Members must arrive within 5 hours of the connecting flight.
- Receive $2,500 Medallion® Qualification Dollars with MQD Headstart each Medallion Qualification Year and earn $1 MQD for each $10 in purchases on your Delta SkyMiles® Reserve American Express Card with MQD Boost to get closer to Status next Medallion Year.
- Enjoy a Companion Certificate on a Delta First, Delta Comfort, or Delta Main round-trip flight to select destinations each year after renewal of your Card. The Companion Certificate requires payment of government-imposed taxes and fees of between $22 and $250 (for itineraries with up to four flight segments). Baggage charges and other restrictions apply. Delta Basic experiences are not eligible for this benefit.
- $240 Resy Credit: When you use your Delta SkyMiles® Reserve American Express Card for eligible purchases with U.S. Resy restaurants, you can earn up to $20 each month in statement credits. Enrollment required.
- $120 Rideshare Credit: Earn up to $10 back in statement credits each month after you use your Delta SkyMiles® Reserve American Express Card to pay for U.S. rideshare purchases with select providers. Enrollment required.
- Delta SkyMiles® Reserve American Express Card Members get 15% off when using miles to book Award Travel on Delta flights through delta.com and the Fly Delta app. Discount not applicable to partner-operated flights or to taxes and fees.
- With your Delta SkyMiles® Reserve American Express Card, receive upgrade priority over others with the same Medallion tier, product and fare experience purchased, and Million Miler milestone when you fly with Delta.
- Earn 3X Miles on Delta purchases and earn 1X Miles on all other eligible purchases.
- No Foreign Transaction Fees. Enjoy international travel without additional fees on purchases made abroad.
- $650 Annual Fee.
- Apply with confidence. Know if you're approved for a Card with no impact to your credit score. If you're approved and you choose to accept this Card, your credit score may be impacted.
- Terms Apply.
- See Rates & Fees