Chase has officially put a deadline on one of the best welcome offers we’ve seen this year.
After previously confirming to TPG that the offer was ‘ending soon’, we now know that the Chase Sapphire Preferred® Card (see rates and fees) limited-time offer of 100,000 bonus points after spending $5,000 on purchases in the first three months from account opening will end on Thursday, July 30, at 9 a.m. ET.
TPG values that bonus at $2,050 based on our July 2026 valuations, making it one of the richest offers we’ve ever seen on a travel rewards card with a $95 annual fee.
If you’ve been considering the Sapphire Preferred, I wouldn’t wait until the last minute to apply. This rare 100,000-point offer doesn’t come around often — and it’s one I applied for myself.
Last chance: Earn 100,000 bonus points on the Chase Sapphire Preferred after spending $5,000 on purchases in the first three months from account opening. Offer ends July 30 at 9 a.m. ET.
If you’re still deciding whether this is the right card for you, here’s why I recommend the Sapphire Preferred so often, especially for those new to points and miles or simply looking for a straightforward, affordable rewards card.
Why this 100,000-point offer is such a big deal
Before this limited-time offer started, the Chase Sapphire Preferred offered a 75,000-point bonus after meeting the minimum spending requirement (no longer available).
That means the current offer gives you an extra 25,000 points, worth more than $500, according to TPG’s July 2026 valuations.
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.
That’s a meaningful increase for a card with just a $95 annual fee.
It’s also exceptionally rare. This marks just the third time in the card’s 17-year history that we’ve seen a public 100,000-point welcome offer.
That makes this one of the best opportunities we’ve ever seen to earn a huge stash of Chase Ultimate Rewards points from a single card.
Related: The Chase Sapphire Preferred’s 100,000-point offer is back. Why I wouldn’t wait
Who should consider applying for the Sapphire Preferred?
If you want to ramp up your points balance and think you’re eligible for this card (and can comfortably meet the spending requirement to earn the bonus), I’d strongly consider doing so before the offer expires on July 30 at 9 a.m. ET.
To be approved, you’ll need to be under Chase’s well-known 5/24 rule, meaning you haven’t opened five or more new personal credit cards across all issuers in the past 24 months.
You also generally need good credit to get the Sapphire Preferred.
Chase also says the following about eligibility for the Sapphire Preferred’s welcome bonus:
“This credit card is unavailable to you if you currently have one open. The new cardmember bonus may not be available to you if you previously held this card or received a new cardmember bonus for this card.”
A couple of us at TPG had the Sapphire Preferred many years ago (more than a decade in some cases), but decided to apply anyway.
We expected Chase’s eligibility pop-up to tell us we didn’t qualify for the welcome bonus before a hard inquiry was performed.
If we got that pop-up, we’d simply stop the process.
The pop-up never appeared. Instead, we were approved.
So, after perhaps quite some time and in some situations, it may be possible to get the Sapphire Preferred — and its bonus — again.
While the terms clearly state that you can’t receive the card if you currently have it, our experience suggests that some longtime former Sapphire Preferred cardholders may once again qualify for both the card and its welcome bonus, though individual results will vary.
Related: I thought I wasn’t eligible for a second Chase Sapphire Preferred bonus — I got approved anyway
What can 100,000 Chase points actually do for you?
The real strength of Chase Ultimate Rewards points is their flexibility.
There are lots of things you can do with 100,000 Chase points, ranging from a lie-flat seat to Japan or Europe to multiple nights at resort hotels to several domestic economy flights.
The key thing to know is this: you can either redeem the points right within the Chase ecosystem at a fixed amount (often, though not always, 1 cent per point) or you could transfer to one of the 14 Chase hotel or airline partners.
Using the points within Chase Travel℠ is a great way to keep things simple. Transferring to hotel and airline partners is a great way to stretch their value, which is why TPG values Chase points at over 2 cents each.
Related: Here are 19 different ways to redeem 100,000 Chase points
If you want a few more specifics on what you can do with Chase points, here are some real trips you could take with 100,000 Chase points:
Bottom line
Think of this as the final boarding call for one of the best credit card offers we’re likely to see this year.
Chase has confirmed that the Sapphire Preferred’s 100,000-point welcome offer ends at 9 a.m. ET on July 30, making this your last chance to earn one of the largest bonuses ever offered on the card.
If you’ve been considering the Sapphire Preferred, there’s little reason to wait. A 100,000-point welcome offer has only appeared a handful of times in the card’s history, and once it disappears, there’s no guarantee we’ll see it return anytime soon.
Last chance: Earn 100,000 bonus points on the Chase Sapphire Preferred after spending $5,000 on purchases in the first three months from account opening. Offer ends July 30 at 9 a.m. ET.
