The offer mentioned below for the Chase Sapphire Reserve® is no longer available.
The Chase Sapphire Reserve® (see rates and fees) received an overhaul earlier this summer, and along with it, a very enticing welcome offer. Chase has officially announced an end date for this elevated welcome offer, valued at over $2,000.
CNBC Select takes a look at this welcome bonus that's ending soon, and some key perks of the Chase Sapphire Reserve.
Am I eligible for the bonus?
If you're thinking about snagging the Chase Sapphire Reserve's elevated welcome bonus, now is the time.
Cardholders can earn 100,000 bonus points + $500 Chase Travel promo credit after you spend $5,000 on purchases in the first 3 months from account opening, but the offer ends August 21 at 9 AM EST. Chase Ultimate Rewards are valued at approximately 2 cents, making the 100,000 points worth about $2,000, plus the $500 credit for a total of around $2,500 in value.
As far as who can receive this bonus, Chase made some tweaks to their eligibility rules when they overhauled the card, but Chase still abides by its 5/24 rule; you'll want to be careful about how many cards you've opened recently for your best chance at approval.
Having confirmed with a Chase spokesperson, Chase has shifted to a lifetime limit on receiving bonuses for the same Sapphire product, so if you've already earned a Chase Sapphire Reserve bonus, you'll no longer be eligible for future ones.
Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent availability.
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With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs.
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Bank from anywhere with access to more than 15,000 Chase ATMs, more than 4,700 Chase branches, the Chase Mobile® app and Chase.com.
Standout benefits
The Chase Sapphire Reserve has many helpful perks that accompany the card, bringing more than $2,700 in value each year, but here are a few of our favorites:
- $300 annual travel credit: This remains one of the most flexible travel credits provided today, with the credit given to you in one lump sum, and automatically applied as a statement credit for qualifying travel purchases.
- Lounge access: Get access to over 1,300 airport lounges with the complimentary Priority Pass Membership, plus any Chase Sapphire Lounge by The Club with up to two complimentary guests.
- Global Entry, TSA PreCheck®, or NEXUS fee credit: While this type of credit is becoming increasingly common among travel cards, having this fee covered can make traveling much easier.
- $300 dining credit: Similar to the travel credit, this will be automatically applied to eligible purchases, but is split into two $150 chunks, one available from January 1 through June 30, the second from July 1 through December 31.
- Travel protections: The Sapphire Reserve card comes with auto rental coverage, lost luggage reimbursement, trip cancellation and interruption insurance and more.
The Chase Sapphire Reserve does have a fair amount of the card's annual value tied to statement credits, so it's important you periodically check your usage of these. The exact value of some other benefits, like lounge access or the complimentary IHG Status, will vary depending on how often you can use them.
Spending Chase Ultimate Rewards points
The Chase Sapphire Reserve card earns Chase Ultimate Rewards points, which are among the most valuable credit card rewards. While you can use them for several simple redemptions, like statement credits or gift cards, the most value typically comes when transferring them to one of Chase's 14 travel partners. Since many of the travel sites use dynamic pricing, the exact value might vary depending on demand, but here are a few examples of what 100,000 Ultimate Rewards points can get you:
- A one-way business class ticket to Munich International Airport, Germany via United MileagePlus
- Two business class tickets to London Heathrow Airport, England, through Virgin Atlantic.
- Four off-peak nights at the Hyatt Paris Madeleine in Paris, France, an Award Category 7 hotel.
If you're not finding the exact travel plans you were hoping for through the available transfer partners, you can instead book through Chase's Travel portal and get up to two cents per point for select redemptions with Points Boost.
Final thoughts
The Chase Sapphire Reserve is a great option as a premium travel card, offering great value and perks, plus sought-after credit card rewards points. While the card does carry a substantial annual fee, there are plenty of ways to recoup that through statement credits and ongoing value like airport lounge access.
The card's 100,000 point offer plus a $500 travel credit ends August 21 at 9 AM EST, so if you've done the calculations and know you can get value from the card, now's a good time to sign up.
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