The Chase Sapphire Preferred's 100,000-point offer is back. Why I wouldn't wait
One of the rarest, most popular credit card offers we've ever seen is back.
In fact, I'll let you in on a secret: Last year, no credit card offer generated more excitement at The Points Guy than the Chase Sapphire Preferred® Card (see rates and fees) when it returned with a limited-time 100,000-point welcome bonus.
It wasn't even particularly close. It wasn't just a good offer — it was the offer everyone wanted in on.
There's a good reason for that. A 100,000-point bonus on a card with a $95 annual fee is exceptionally rare. In fact, this is only the third time we've seen it since the card came out in 2009. And when paired with Chase Ultimate Rewards' airline and hotel transfer partners, it can unlock thousands of dollars in travel rewards.
And now, for a limited time, the 100,000-point offer is back.
Limited-time offer: Earn 100,000 bonus points after spending $5,000 on purchases in the first three months from account opening.
And while the annual fee is just $95, TPG currently values the 100,000 bonus Chase points at $2,050 (based on June 2026 valuations), making this one of the most incredible welcome offers we've seen all year since you can get over $2,000 in travel from a card that costs less than $100!
If history is any indication, this elevated offer won't be around forever. Here's why it's such a big deal and why now may be the best time to apply.
Sapphire Preferred at a glance
- Limited-time welcome offer: Earn 100,000 bonus points after spending $5,000 on purchases in the first three months from account opening.
- This is the highest-ever offer. We've only seen this limited-time 100,000-point offer three times in the last 16 years!
- Low annual fee: Just $95 for a card with a welcome bonus that TPG values at over $2,000 by June 2026 valuations.
- Great ongoing value: Includes a $100 annual Chase Travel℠ hotel credit, strong travel protections, good bonus-earning categories and valuable airline and hotel transfer partners.
- Why this is the best time to apply: This is a rare, highly valuable, limited-time offer on a low-fee card that doesn't come around often and doesn't last long.
How you can use 100,000 Chase points
Numbers like "100,000 points" sound impressive — but what does that actually mean for your next trip?
Depending on how you redeem them, these 100,000 points could help pay for things like:
- Lie-flat business-class flight to Europe from 40,500 points transferred to Iberia Avios (plus taxes/fees)
- Flights to London in economy from 6,000 points transferred to Virgin Atlantic per ticket (plus taxes/fees)
- Multiple domestic economy flights via United Airlines, Southwest and more from 5,000 - 15,000 miles for many routes
- A couple of round-trip flights to Hawaii on United
- A few nights at many resorts that cost hundreds of dollars per night (such as the Hyatt Regency Maui or Hyatt Hill Country Resort)
- $1,500+ in travel bookings by leveraging Points Boost via Chase Travel
Of course, the exact value depends on how you want to redeem your points, but that's one of the biggest advantages of Chase Ultimate Rewards — you have plenty of options.
Just how good is this 100,000-point offer?
If you've followed the Sapphire Preferred for a while, you know the welcome bonus doesn't stay at 100,000 points year-round. And if you haven't, here's the quick history lesson.
We've only seen the Sapphire Preferred bonus reach this 100,000-point level three times in the card's 16-year history.
That's why many savvy rewards travelers intentionally wait to apply until Chase brings back this elevated offer ... though sometimes they've been left waiting years. But since you generally only get one chance to earn a welcome bonus on the card, timing your application can make a meaningful difference.
The previous public offer was 75,000 points. Based on TPG's June 2026 valuations, the current limited-time bonus is worth more than $500 more in potential travel.
Here's who is eligible for this 100,000-point offer
There's good news for some, because earlier this year, Chase changed the eligibility rules for the Sapphire cards.
Now, having a Chase Sapphire Reserve® (see rates and fees) no longer disqualifies you from having a Sapphire Preferred. It's fine to have both.
Before applying, though, keep these rules in mind:
- The Chase 5/24 rule (explained here) still applies.
- You'll likely need a good credit score.
- If you've had the Sapphire Preferred before, the rules say you cannot get the welcome bonus again (so get it while it's increased).
However, being an authorized user on someone else's Sapphire Preferred does not prevent you from getting one in your own name as the primary cardholder.
How long will the 100,000-point Sapphire Preferred offer last?
Chase hasn't announced when this offer will end, but it has said it's only available for a limited time.
Last year's 100,000-point Sapphire Preferred promotion lasted about six weeks, but there's no guarantee this one will follow the same timeline.
If you're hoping to lock in the highest welcome bonus we've ever seen on the Sapphire Preferred, I wouldn't wait too long. While no one knows exactly when this offer will end, bonus promotions at this level on a card with such a low annual fee rarely become the new normal.
Don't miss: Limited-time offer to earn 100,000 bonus points after spending $5,000 on purchases in the first three months on the Chase Sapphire Preferred
Bottom line
If you're eligible for the bonus and have been waiting for the best time to apply for the Chase Sapphire Preferred, there's no better time than the present.
A 100,000-point welcome bonus has only appeared a handful of times, the annual fee remains just $95, new perks have recently been added, and the card continues to offer exceptional flexibility long after you've earned the initial bonus.
Want the full rundown? Read our complete Chase Sapphire Preferred review.