The Chase Sapphire Reserve® card is currently offering its highest-ever public welcome bonus : 125,000 points after spending $6,000 in the first three months. Valued at $2,563 based on recent assessments, this deal makes it an exceptionally strong time to apply for the card, especially for frequent travelers.
However, the Sapphire Reserve carries a steep $795 annual fee. Whether the card’s perks offset that cost depends on how effectively you use its extensive benefits. Here’s a detailed look at what the card offers and who it’s best suited for.
Welcome Bonus and Redemption Value
The 125,000-point bonus is significant because Chase points are highly flexible. They can be transferred to 13 airline and hotel partners, enabling business-class flights (like Iberia to Madrid) or extended stays at luxury resorts (such as the Hyatt Regency Maui).
This is the highest public offer Chase has made on this card, meaning it is a limited-time opportunity.
Earning Rates and Statement Credits
Beyond the bonus, the Sapphire Reserve offers strong earning rates:
- 10x points on Peloton purchases (up to $5,000 through 2027)
- 8x points on Chase Travel℠ bookings
- 5x points on Lyft rides (through Sept. 2027)
- 4x points on direct flights and hotels
- 3x points on dining
- 1x point on all other spending
The card’s value is further enhanced by numerous statement credits designed to offset the annual fee. These include:
- $500 in hotel bookings via The Edit (two $250 credits)
- $300 annual travel credit
- $300 dining credit (split into $150 biannual credits)
- $300 on concert/event tickets via StubHub and Viagogo (activation required)
- $300 in DoorDash credits (monthly promos up to $25)
- $288 for Apple TV and Apple Music subscriptions
- $250 for Chase Travel hotel bookings
- Up to $120 for Global Entry/TSA PreCheck/Nexus
- $120 Peloton membership credit
Additional Perks and Elite Status
Sapphire Reserve cardholders also receive:
- Access to Chase Sapphire lounges (plus two guests) and Priority Pass Select membership.
- Mid-tier IHG One Rewards Platinum Elite status.
- Top-tier IHG Diamond Elite status and Southwest A-List status if you spend $75,000 annually.
- $500 Southwest Airlines credit through Chase Travel for high spenders.
Application Restrictions
Chase allows holding both the Sapphire Reserve and the Sapphire Preferred simultaneously, but welcome bonus eligibility is restricted. If you’ve previously earned a bonus on one card, you likely won’t qualify for another on the same product. However, you can still earn the bonus on a different Sapphire card if you haven’t before.
Conclusion
The Chase Sapphire Reserve is a powerful premium travel card, particularly valuable for those who can maximize its statement credits and travel perks. The current 125,000-point welcome bonus is an all-time high, making this an opportune moment to apply. However, the $795 annual fee demands careful consideration of your spending habits and whether the benefits align with your travel lifestyle.
