The Chase Sapphire Reserve card is a popular choice for travel rewards enthusiasts, offering valuable points and top-tier card benefits. The current bonus is particularly enticing, with new cardholders earning 150,000 bonus points after spending $6,000 on purchases in the first three months from account opening. This is the highest public offer we've ever seen on the card and is worth $3,075, according to TPG's May 2026 valuations. However, there are some important considerations to keep in mind before applying for this bonus.
Eligibility and Restrictions
- Previous Cardholders: If you've previously held the Sapphire Reserve, you're likely not eligible for this bonus. Chase states that you may not be eligible if you're a previous cardholder, so even if you didn't earn the bonus when you had the card, you shouldn't expect to be eligible now.
- Current Cardholders: Current Sapphire Reserve cardholders will not qualify for the current 150,000-point bonus. Closing or product-changing your Sapphire Reserve is unlikely to make you eligible, given Chase's restrictions on Sapphire bonuses across your lifetime.
- Authorized Users: Being an authorized user on another person's Sapphire Reserve does not affect your ability to get your own card and earn the bonus, as long as you've never been a Sapphire Reserve cardholder before and meet other eligibility requirements.
- General Eligibility Rules: You can't currently have a Sapphire Reserve card open, and you may not be eligible if you have previously received a Sapphire Reserve bonus. If you have opened five or more new credit cards in the past 24 months, you likely will be declined for a new Chase card. Approval depends on your overall credit profile and your relationship with Chase. Since the Sapphire Reserve is a Visa Infinite card, you'll need to be eligible for at least a minimum $10,000 credit line.
Upgrading from Sapphire Preferred
If you currently have the Chase Sapphire Preferred Card and have never held the Sapphire Reserve, it's likely that you're eligible for the Sapphire Reserve and its bonus, as long as you meet other eligibility requirements (being under 5/24 and having an adequate credit score). Just remember that you'll need to put in a new application for the Sapphire Reserve to receive its bonus. If you simply upgrade your Sapphire Preferred, you won't be eligible for the 150,000-point bonus.
Maximizing the Bonus
There are multiple ways to maximize the Sapphire Reserve's bonus. Here are a few ideas:
- Transfer to Air Canada Aeroplan: Transfer to Air Canada Aeroplan to book Swiss business-class seats from Miami International Airport (MIA) to Zurich Airport (ZRH). You could purchase tickets for two passengers with 140,000 points (plus $114.82).
- Transfer to World of Hyatt: Transfer to World of Hyatt to book a beach villa at the Park Hyatt Maldives Hadahaa. Off-peak rates on the current award chart start at 75,000 points, so you could book two nights with this bonus. Note that major changes are coming to Hyatt's award chart soon, so this could become a more costly stay on points.
- Transfer to Virgin Atlantic Flying Club: Transfer to Virgin Atlantic Flying Club to book round-trip economy flights from John F. Kennedy International Airport (JFK) in New York to Heathrow Airport (LHR) in London, starting at 6,000 points one-way. You could book this itinerary 12 times with the full 150,000-point bonus — or you could save the leftover points for another redemption.
Meeting the Minimum Spend
To earn the full bonus, you'll have to spend $6,000 on purchases in the first three months. There are many strategies you could employ to meet this minimum spend, including buying everything with your new card, prepaying bills, dining with a larger group, donating to charity, and putting a down payment on a new car. Just be sure you have enough funds in your bank account to pay off your statement balance in full each month, to avoid interest and late fees.
Conclusion
The Chase Sapphire Reserve card offers a valuable bonus, but it's important to understand the eligibility requirements and restrictions. By carefully considering your options and maximizing the bonus, you can make the most of this enticing offer.
