Who’s eligible for the 100,000-point Chase Sapphire Preferred bonus?

Jun 11, 2021

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Editor’s note: This post has been updated with new information.


Chase just launched the highest-ever public sign-up bonus for one of its top travel credit cards — the Chase Sapphire Preferred Card. New cardholders will now earn 100,000 Ultimate Rewards points after spending $4,000 on purchases in the first three months of account opening. TPG values Chase Ultimate Rewards points at 2 cents each, which means this bonus is worth an incredible $2,000 — virtually unheard of in the mid-tier travel rewards market.

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With one of the most lucrative sign-up bonuses on the market right now, you’ll want to make sure you’re eligible for this offer. Here’s a quick rundown of the eligibility requirements and restrictions for this tremendous Chase Sapphire Preferred bonus.

In This Post

Who’s eligible to apply?

This is what Chase states on its website regarding Chase Sapphire Preferred bonus eligibility:

The product is not available to either (i) current cardmembers of any Sapphire credit card, or (ii) previous cardmembers of any Sapphire credit card who received a new cardmember bonus within the last 48 months. If you are an existing Sapphire customer and would like this product, please call the number on the back of your card to see if you are eligible for a product change. You will not receive the new cardmember bonus if you change products.

If you’ve never held a Chase Sapphire Preferred or Chase Sapphire Reserve, you’re in the clear to apply and be able to qualify for the bonus if you get an account and meet the spending requirement. However, things get a little more complicated if you currently have the Chase Sapphire Preferred or Chase Sapphire Reserve — or if you’ve had one in the past.

Photo by The Points Guy
(Photo by The Points Guy)

Chase has a 48-month rule on receiving new cardmember bonuses within the Chase Sapphire card family.

This means if you’ve earned a Chase Sapphire Preferred or Chase Sapphire Reserve sign-up bonus in the past four years, you’re out of luck to earn this bonus until you’ve passed the 48-month mark on the last bonus. And keep in mind that the 48-month rule applies to when you received the bonus, not necessarily when you applied for the card.

Additionally, you can only have one Sapphire credit card at a time, which means those who are current cardmembers of the Chase Sapphire Preferred, Chase Sapphire Reserve or the no-annual-fee Chase Sapphire Card (no longer open to new applications) cannot apply for this card or receive the bonus.

Related: What credit score do you need to get the Chase Sapphire Preferred card?

Don’t forget Chase’s 5/24 rule

Something else to consider when thinking about whether to apply for the Sapphire Preferred is Chase’s 5/24 rule. Even if you meet the above requirements to be eligible for this bonus, you’ll still need to fall under Chase’s infamous — though unpublished — 5/24 rule. If you’ve opened five or more new personal credit card accounts (including authorized user accounts and some business accounts) across all issuers in the past two years, Chase is almost certainly going to deny your application.

You may be able to have Chase not count authorized user accounts against your max of five new accounts in the last two years if you call in after you are denied, but note that it’s not going to be an automatic approval.

Related: How to calculate your 5/24 standing

Bottom line

Elevated sign-up bonuses this high on the Chase Sapphire cards are rare, so those eligible should consider applying for the Chase Sapphire Preferred’s current 100,000-point sign-up bonus.

Even if you know you’ll eventually want to upgrade to the Chase Sapphire Reserve (which currently also has an elevated sign-up bonus of 60,000 points after you spend $4,000 on purchases in the first three months of account opening), the Chase Sapphire Preferred offers the much larger sign-up bonus. If you’re eligible, it would make a lot of sense to sign up for the Sapphire Preferred now and then upgrade to the Sapphire Reserve after a year of card membership if you want those additional perks.

Apply for the Chase Sapphire Preferred with a 100,000-point sign-up bonus.

Read TPG’s Chase Sapphire Preferred review for more details on this card. 

Additional reporting by Stella Shon.

Featured photo by Wyatt Smith for The Points Guy. 

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