Chase Sapphire Reserve current offer

The Chase Sapphire Reserve® (refer to rates and fees) is a highly regarded premium rewards card packed with numerous benefits to optimize your rewards.

Additionally, it offers a generous welcome bonus, enabling new cardholders to acquire a substantial number of points right away.

Chase Ultimate Rewards points are considered among the most valuable rewards currencies in the industry, with Flying Frugal’s August 2025 valuations estimating them at 2.05 cents per point.

Despite its hefty $795 annual fee, the extensive list of premium advantages keeps it a strong contender in the premium travel category.

Here’s what you need to know about the Sapphire Reserve’s latest offer and benefits.

Current Offer for the Chase Sapphire Reserve

New applicants for the Sapphire Reserve can earn 125,000 bonus points after spending $6,000 on purchases within the first three months of account opening.

According to our August 2025 valuations, this bonus is valued at up to $2,563.

A collection of 125,000 Chase points can unlock extraordinary travel opportunities, particularly when you transfer these points to one of Chase’s 14 partner loyalty programs. With this offer, you could enjoy business class flights to Madrid on Iberia, book a round-trip business class to Tokyo with All Nippon Airways, or stay for up to six off-peak nights at the Hyatt Regency Maui Resort and Spa.

How This Compares to Past Offers

This marks the highest points offer in the card’s history. The Sapphire Reserve now presents 50,000 additional points in its welcome offer compared to the $95-annual-fee Chase Sapphire Preferred® Card (see rates and fees), although the Sapphire Preferred requires a slightly lower spend of $5,000 in the first three months.

Application Rules and Restrictions

If you’ve been considering the Sapphire Reserve but currently hold another card in the Sapphire family, like the Sapphire Preferred, you’re in luck: Chase permits cardholders to hold both Sapphire products simultaneously.

However, please note that Chase has updated its terms regarding welcome offer eligibility. Previously, you could earn a Sapphire welcome bonus every 48 months; this has changed.

A Chase representative confirmed to Flying Frugal that, “Starting June 23, 2025, you’ll be eligible to hold both the Sapphire Reserve and Sapphire Preferred. Bonus eligibility for either card will consider factors like previously earned bonuses and the number of cards opened or closed.”

Even if it’s been years since you received a bonus on a specific Sapphire card, you probably won’t be able to earn another bonus on that particular card. Additionally, if you currently hold the Sapphire Preferred card, you may not be eligible for the Sapphire Reserve bonus.

This is a new restriction concerning bonus-earning within the Sapphire family, so keep this in mind when considering your application.

The new Chase Sapphire Reserve for Business℠ (see rates and fees) is not included in this restriction, meaning you could earn a bonus on the business card while still qualifying for a bonus on the personal Sapphire Reserve or Sapphire Preferred.

Related: Why I’ll never cancel my Chase Sapphire Reserve

Reasons to Consider the Chase Sapphire Reserve

Beyond its substantial welcome bonus, the Sapphire Reserve offers numerous benefits worth keeping it in your wallet long term.

This card is especially suited for frequent travelers, Chase Sapphire lounge fans, and those who will benefit from its new statement credits and perks. Here’s a breakdown of the earning rates:

• 10 points per dollar on eligible Peloton equipment and accessories over $150 (up to $5,000 spent) until December 31, 2027
• 8 points per dollar on all Chase Travel℠ purchases
• 5 points per dollar on Lyft purchases until September 30, 2027
• 4 points per dollar on flights and hotels booked directly
• 3 points per dollar on dining around the world
• 1 point per dollar on everything else

The card also features various statement credits that offset its $795 annual fee. These include:

• $500 in annual statement credits (up to $250 biannually) for two or more night bookings through The Edit, Chase’s luxury hotel booking service
• $300 in statement credits for travel purchases each anniversary year (automatically applies to all travel purchases, up to $300)
• $300 annual dining credit (up to $150 biannually) and exclusive reservations at Sapphire Reserve Exclusive Tables through OpenTable
• $300 in annual statement credits (up to $150 biannually) for concert and event tickets purchased via StubHub (until December 31, 2027)
• $300 annually in monthly DoorDash credits, $25 each month (until December 31, 2027; complimentary DashPass subscription also included)
• $250 in annual statement credits for Apple TV+ and Apple Music subscriptions (until June 22, 2027; one-time activation required for each)
• Up to $120 in credits for Global Entry, TSA PreCheck, or Nexus every four years
• $120 annual statement credit for a complimentary Peloton membership, distributed as $10 monthly credits (until December 31, 2027)

Cardholders also gain access to Chase Sapphire lounges for themselves and two guests, in addition to a Priority Pass Select membership. Authorized users are eligible for lounge access as well, and the fee for adding an authorized user is $195.

Additionally, the card provides complimentary mid-tier IHG One Rewards Platinum Elite status (until December 31, 2027).

Should you spend $75,000 or more within a calendar year, you unlock:

• Top-tier IHG One Rewards Diamond Elite status
• Southwest Airlines A-List status
• $500 Southwest Airlines credit when booked through Chase Travel
• $250 credit for The Shops at Chase, Chase’s new online shopping platform

Final Thoughts

If you’re considering a premium travel rewards card, now is a great time to apply for the Chase Sapphire Reserve. It boasts an impressive welcome bonus of 125,000 points, which can be redeemed for various travel experiences.

While it has a substantial $795 annual fee, the ability to maximize the available credits can make it worthwhile.

This card provides numerous valuable benefits for travelers and offers access to an increasing number of premier airport lounges. Before applying, consider your travel habits and how the new statement credits fit into your financial strategy. If this card aligns with your needs, don’t hesitate to add it to your wallet.

For further details, read our complete review of the Sapphire Reserve.

Apply here: Chase Sapphire Reserve