If you’ve been considering the Chase Sapphire Preferred® Card (check rates and fees)—or even if you haven’t—it’s the perfect time to apply.
This is your last opportunity to earn a generous bonus of 100,000 Ultimate Rewards points after spending $5,000 within the first three months of account opening. Act fast, as this offer expires on May 15 at 9 a.m. EDT.
According to Flying Frugal’s May 2025 valuations, Chase Ultimate Rewards points are worth approximately 2.05 cents each, making this bonus worth an impressive $2,050. This is the same welcome offer we saw over three years ago!
Last chance: Grab 100,000 bonus points with the Chase Sapphire Preferred for a limited time. Offer valid until May 15.
Before applying, ensure you qualify for this offer. Here’s a brief overview of the eligibility criteria for the Chase Sapphire Preferred welcome bonus.
Am I eligible for the Chase Sapphire Preferred bonus?
According to Chase’s website, here are the eligibility rules for the Chase Sapphire Preferred bonus:
The product is not available to (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.
You can apply for the card and earn the welcome bonus if you have not held either the Chase Sapphire Preferred or the Chase Sapphire Reserve® (check rates and fees) in the past.
If you already possess or have previously had either the Sapphire Preferred or Reserve, the rules change a bit.
Chase observes a 48-month rule for customers aiming to receive new cardmember bonuses within the Sapphire card family.
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If you’ve earned a Chase Sapphire Preferred or Sapphire Reserve welcome bonus within the past four years, you won’t qualify for this bonus. Remember, the 48-month rule pertains to when you received the bonus, not when you applied for the card.
Moreover, you can only hold one Sapphire credit card at a time. Current cardholders of the Chase Sapphire Preferred, Chase Sapphire Reserve, or the no-annual-fee Chase Sapphire Card (no longer available for new applications) cannot apply for this card or receive the bonus.
The information about the Chase Sapphire has been independently collected by The Points Guy. Card details on this page have not been verified or provided by the issuer.
Related: What credit score is needed for the Chase Sapphire Preferred card?
Chase’s 5/24 Rule
Another important factor to consider before applying for the Sapphire Preferred is Chase’s 5/24 rule.
Even if you meet the above criteria, the rules still require you to comply with Chase’s well-known—yet unpublished—5/24 rule.
If you’ve opened five or more new personal credit card accounts (including authorized user accounts and some business accounts) in the past two years, Chase will likely deny your application.
You might call Chase to ask if they can exclude authorized user accounts from your total count of five new accounts over the past two years if you get denied for a new Chase card; however, keep in mind that this won’t guarantee approval.
Related: How to check your 5/24 status
Transferring Credit Lines
Another thing to note for Sapphire Preferred applications is that if you have several Chase credit cards with high credit limits, you might have reached the total amount Chase is willing to extend to you.
In this case, your application may not be outright rejected. Instead, it could be put into a “pending” status.
You can wait for Chase’s decision, but calling the reconsideration line may be more effective. Proactively offering to transfer credit from one of your existing cards to the Sapphire Preferred may help push your application through.
Bottom Line
The current limited-time welcome bonus of 100,000 Ultimate Rewards points for the Chase Sapphire Preferred is significant, making it an ideal time for eligible applicants to consider applying, as it ends on May 15.
If the Sapphire Reserve has caught your interest, consider applying for the Sapphire Preferred now to take advantage of the higher welcome bonus, then possibly upgrade to the Sapphire Reserve after a year for enhanced travel benefits.
To explore further, check out our full review of the Chase Sapphire Preferred.
Apply here: Chase Sapphire Preferred Card – 100,000 Ultimate Rewards points after spending $5,000 on purchases in the first three months of account opening.
