The best-ever welcome bonus on the Chase Sapphire Preferred® Card (see rates and fees) is ending July 30 at 9 a.m. EDT.
Our favorite beginner card currently offers 100,000 bonus Chase Ultimate Rewards points, earned after spending $5,000 on purchases in the first three months from account opening. This is only the third time ever that the card has offered this bonus in its 17-year history.
With just a $95 annual fee, this is an incredibly rewarding offer.
Based on TPG’s July 2026 valuations, Chase Ultimate Rewards points are valued at 2.05 cents each, meaning 100,000 points are worth $2,050. It’s the highest valuation of any credit card points and miles we cover in our valuations. This is because there are so many valuable ways to use them through transfer partners.
Just how confident are we of the value of Ultimate Rewards points and this welcome offer? TPG’s points and miles experts have shared tips on how easy it is to redeem them for maximum value.
Last chance: Earn 100,000 bonus points after spending $5,000 on purchases in the first three months from account opening with the Chase Sapphire Preferred.
If you’ve been on the fence about whether this truly is the welcome offer of the year, here are 10 ways you can get at least $2,050 in value from 100,000 Ultimate Rewards points.
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Related: Chase Sapphire Preferred Card review: Still on top with new benefits and earning rates
Enjoy up to 7 nights of hotel accommodations
Despite the recent news that some Chase Sapphire Preferred holders now get a less favorable 4:3 Chase-to-Hyatt transfer ratio (instead of 1:1), World of Hyatt remains one of the best and easiest ways to get great value from Chase points.
Even with a 4:3 transfer ratio, you’ll still get 75,000 Hyatt points from 100,000 Chase points.
Lead writer Katie Genter recommends doing just this, especially at some Category 1 Hyatt hotels, because this can get you a lot of nights. For example, you could redeem 22,500 points for a five-night stay next April at the Grand Hyatt Amman in Jordan that would otherwise cost $848.
You could use 24,000 more Hyatt points for a seven-night stay next February at the Hyatt Centric City Centre Kuala Lumpur in Malaysia. If you booked a paid rate for this stay, it would cost $933.
Finally, you could use the remaining 28,500 points for a six-night stay next June at the Hyatt Place North Charleston in South Carolina. This stay is priced at $856.
So, across these three stays, your 100,000 Chase points would be worth $2,637, or 2.6 cents each.
Related: How to transfer Chase points to Hyatt: A step-by-step guide
Book round-trip flights to Hawaii for 2, plus accommodations
Credit cards writer Stephanie Stevens recommends transferring Chase points to both United MileagePlus and World of Hyatt for a getaway to Hawaii. Because she lives in Northern California, Hawaii is one of her favorite vacation destinations, as it’s just a nonstop flight from San Francisco International Airport (SFO).
She’d transfer 60,000 points to United MileagePlus at a 1:1 ratio to book two round-trip economy award flights to Daniel K. Inouye International Airport (HNL) in Honolulu when saver award space is available, then use the remaining 40,000 points for a two-night stay at a Hyatt property like the Hyatt Place Waikiki Beach, where award nights can start at just 15,000 points.
During peak travel periods, when airfare and hotel rates are elevated, this redemption easily exceeds TPG’s 2.05-cents-per-point valuation.
Related: What is the best island to visit in Hawaii?
Fly lie-flat business class to Japan
Dreaming of Japan? Clint Henderson, TPG’s principal spokesperson, recommends transferring Chase Ultimate Rewards points to United Airlines’ MileagePlus program at a 1:1 ratio and flying business class to Japan.
He found one-way awards from 85,000 miles plus $5.60 in taxes and fees, compared with cash fares of around $2,160, for an impressive 2.53 cents per Chase point. You get Polaris Lounge access with a shower suite before you board the flight, and then on board, you’ll enjoy a lie-flat bed with direct aisle access and a la carte dining.
Then there is Japan itself. Cherry blossoms in Kyoto, street food after dark in Osaka, waist-deep powder snow in Hokkaido, hot spring towns an easy train ride from Tokyo … you really can’t go wrong, no matter where you choose to spend your time.
Related: United’s new Polaris Studios are finally here: First look at the airline’s swankiest plane yet
Treat yourself to a cherry blossom getaway
Whether you want to see Japan’s world-renowned blooms or ones closer to home, the Chase Sapphire Preferred‘s elevated welcome bonus can make that dream a reality.
If Japan’s cherry blossoms are calling, consider staying at the Park Hyatt Tokyo, where you’ll find new “Top” Category 8 redemption rates of 75,000 World of Hyatt points per night.
That’s a lot of points for one night. Thankfully, New York is also an iconic place to take in spring blooms.
Lyndsey Matthews, TPG’s managing editor of points and loyalty programs, recommends the Park Hyatt New York, which is just a short walk from Central Park and has quite a few “Low” redemption rates during the same time.
For a two-night weekend stay in mid-April 2027, you’d have to pay $3,620, including taxes, for an entry-level king room. In points, it’s just 45,000 per night for a total of 90,000 points for the same two-night stay.
At a 4:3 transfer ratio from Chase to World of Hyatt, you’ll need 120,000 Chase points to make this redemption, giving you a 3-cents-per-point value on this redemption, comfortably above TPG’s 2.05 cents valuation.
While 120,000 Chase points is higher than the 100,000-point welcome bonus, remember that you’ll earn at least 5,000 additional Chase points by spending $5,000 on purchases in the first three months from account opening. Additionally, because so many of the card’s spending categories award more than 1 point per dollar spent, it’s easy to grow your Ultimate Rewards points balance quickly.
Related: The 11 best places to see cherry blossoms across the US this spring
Pamper yourself with a relaxing all-inclusive getaway
Lyndsey has also had Miraval Berkshires on her list of dream redemptions. The all-inclusive resort is part of World of Hyatt, so you can transfer Chase points to World of Hyatt and have everything covered, including all meals and nonalcoholic beverages, a nightly resort credit per person and a vast lineup of complimentary wellness classes and resort amenities.
Weekends are already sold out during the fall foliage season, but if you book a midweek stay for two the first week of October, you can redeem 70,000 Hyatt points per night for a Dreamcatcher King room instead of paying $4,279.
If you transfer at the 4:3 ratio from Chase to Hyatt, you’d need to transfer 94,000 Chase points, which gives you an incredible 4.5 cents per Chase point redemption value.
Related: The 14 best Hyatt all-inclusive resorts in the world
Book round-trip flights in business class to Spain
If you want the cheapest lie-flat seat across the Atlantic, I recommend transferring your Chase points to Iberia Club at a 1:1 ratio and flying to Spain.
Off-peak business-class awards between New York’s John F. Kennedy International Airport (JFK), Chicago’s O’Hare International Airport (ORD), Boston Logan International Airport (BOS) or Dulles International Airport (IAD) near Washington, D.C., and Adolfo Suárez Madrid-Barajas Airport (MAD) cost 81,000 Avios round-trip, plus around $330 in taxes, fees and surcharges.
Most airline programs charge at least 60,000 miles for a one-way business-class award to Europe (many charge twice that), making Iberia’s rate excellent. It means the welcome bonus from the Chase Sapphire Preferred alone could cover a round-trip lie-flat seat with points to spare.
Given Iberia’s typical round-trip business-class fare starts at $2,500, that works out to about 2.7 cents per Chase point after accounting for taxes, fees and surcharges.
Related: How to transfer Chase points to Iberia Club
Fly business class to Europe
If Spain isn’t on your radar, you don’t fly from a U.S. gateway that Iberia operates from or perhaps you can’t find the cheapest Iberia availability, I’ve also transferred Chase Ultimate Rewards points to Air Canada’s Aeroplan program at a 1:1 ratio many times to book business class across the Atlantic and consider it a terrific way to arrive rested.
I’ve found plenty of one-way business-class awards from 60,000 points plus 39 Canadian dollars (about $27) for the partner booking fee and minimal taxes from the Northeast to most of Western Europe, including the United Kingdom, France, the Netherlands and Germany. Such a redemption has a cash value of more than 2.05 cents per point, given that cash rates are many thousands of dollars each way.
This Air Canada Aeroplan redemption covers a wide network of Star Alliance carriers — Lufthansa, Swiss, Austrian Airlines, TAP Air Portugal, Brussels Airlines and LOT Polish Airlines, among others — so you’ll settle into a lie-flat seat for the overnight journey and land refreshed rather than red-eye bleary.
Related: Decisions, decisions: Choosing the best Lufthansa Allegris business-class seat
Make your way Down Under in premium economy
Flying to Australia is a bucket-list vacation for many points and miles collectors. It’s a long journey across the Pacific, so why not treat yourself to some extra comfort?
I found plenty of one-way United Premium Plus (premium economy) seats from Los Angeles International Airport (LAX) and SFO to Sydney Airport (SYD) and Melbourne Airport (MEL) in Australia for 70,000 United MileagePlus miles, transferred at a 1:1 ratio from Chase Ultimate Rewards, plus about $35 in taxes and fees.
Cash fares on those routes start at around $2,100 one-way. After taxes, that works out to enjoying almost 3 cents per Chase point in value, an amazing way to use the welcome bonus from the Chase Sapphire Preferred.
Premium Plus gets you a wider seat with far more recline than a standard economy seat, plus a footrest and better food and bedding on a flight that runs close to 15 hours.
Related: Is United Airlines premium economy worth it to Europe?
Fly round-trip to Bali on one of the world’s best airlines
Singapore Airlines is one of the world’s most awarded carriers, known for its incredible onboard service and for operating a hub at one of the world’s best airports, Singapore Changi Airport (SIN), which is more like a luxury shopping mall than a place to catch a flight.
Principal contributor Eric Rosen found plenty of economy awards on United Airlines and Singapore Airlines between the U.S. and both Singapore and Bali, Indonesia, for those looking for a rainforest yoga retreat or relaxing beach trip. And, even better, you have a choice of two great transfer partners.
There are round-trip economy awards on United that require just 88,000 MileagePlus miles. Or, you can redeem 88,000 to 97,000 Singapore KrisFlyer miles (another 1:1 Chase transfer partner) plus minimal taxes and fees for a round-trip booking in economy; the exact rate depends on whether you’re departing the East or West Coast and heading to Singapore or onward to Bali.
Tickets like this can cost upward of $2,500 in the coming months, depending on the dates and carrier, making them an excellent way to get increased value from your Chase points.
Related: How to transfer Chase Ultimate Rewards points to Singapore KrisFlyer
Enjoy Qatar Airways’ Qsuite to paradise
Prefer lie-flat comfort for a long-haul flight? How about Qatar Airways’ Qsuite business class, which has won numerous TPG awards as the world’s best business-class product?
Eric recommends booking a one-way ticket between the U.S. and the Maldives on Qatar Airways’ much-lauded Qsuite business class via British Airways Club, a 1:1 transfer partner of Chase Ultimate Rewards, for 85,000 Avios and $320.70 in taxes and fees.
That’s nearly 20 hours of luxuriating in these fancy suites with closing doors, on-demand dining and high-end amenities. You’d save around $5,300 by redeeming your Chase points for this flight, giving them a value of more than 6 cents each.
Related: Where is the Maldives, and is the long journey worth it?
Bottom line
The Chase Sapphire Preferred‘s 100,000-point welcome offer has appeared just three times in the card’s 17-year history, and Chase has confirmed this one is ending very soon.
From award-winning business-class flights to the Maldives and round-trip comfort to Spain to luxury all-inclusive resort stays, there are so many ways to get at least $2,050 in value from one low-annual-fee card’s welcome bonus.
This incredible offer ends July 30 at 9 a.m. EDT, so if you’ve ever wanted to maximize your travel, don’t miss out.
Limited-time offer on the Chase Sapphire Preferred: Earn 100,000 bonus points after spending $5,000 on purchases in the first three months from account opening.
