Chase Sapphire Reserve 150,000-point bonus: Your frequent questions answered

The Chase Sapphire Reserve® (see rates and fees) is the premium travel rewards card for Chase Ultimate Rewards enthusiasts to earn valuable points and enjoy top-tier card benefits.

The Sapphire Reserve's current bonus is sky-high: New cardholders earn 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, per TPG's May 2026 valuations.

With an offer this valuable, you won't want to miss out. Here are 10 of the most frequently asked questions we've seen on the Sapphire Reserve and its current 150,000-point bonus, answered.

Can I earn the 150,000-point bonus if I previously held the Sapphire Reserve?

Unfortunately, if you have previously held the Sapphire Reserve, you're likely not eligible for this bonus now.

Chase states that you may not be eligible for the bonus if you're a previous cardholder. So, even if you don't currently have the Sapphire Reserve or didn't earn its bonus when you did have it, you shouldn't expect to be eligible for the bonus now.

Related: Am I eligible for the Chase Sapphire Reserve's 150,000-point bonus?

Can current Sapphire Reserve cardholders qualify for or receive this bonus?

If you are a current Sapphire Reserve cardholder, you will not qualify for the current 150,000-point bonus.

It's also worth noting that closing or product-changing your Sapphire Reserve is unlikely to make you eligible, given Chase's restrictions on Sapphire bonuses across your lifetime.

Related: Chase Sapphire Reserve statement credits: What they are and how to use them

Does being an authorized user on a Sapphire Reserve affect my eligibility for the bonus?

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, you should be eligible to receive the bonus.

Related: 6 ways the Sapphire Reserve cards make international travel even better

Who is eligible for the 150,000-point bonus, and what are the key restrictions?

These are the general eligibility rules for the Sapphire Reserve:

• You can't currently have a Sapphire Reserve card open.
• You may not be eligible if you have previously received a Sapphire Reserve bonus.
• If you previously had a Sapphire Reserve, you may not be eligible for this offer, even if you didn't earn a bonus on that Sapphire Reserve.
• 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.

Related: Chase's 5/24 rule: Everything you need to know

Can Sapphire Preferred cardholders upgrade to the Sapphire Reserve and receive the bonus?

If you currently have the Chase Sapphire Preferred® Card (see rates and fees) 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, as mentioned previously).

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.

Along these lines, remember that you can carry the Sapphire Reserve and the Sapphire Preferred at the same time.

Related: Have the Chase Sapphire Preferred? You're likely eligible for the Sapphire Reserve. Here's how

Is this the best-ever offer on the Sapphire Reserve?

Yes. The current 150,000-point bonus is the highest publicly available offer we've ever seen on the Sapphire Reserve.

The Sapphire Reserve's previous public bonus offered 125,000 points for the same $6,000 minimum spending requirement (offer no longer available). The card also once provided a highly targeted offer of up to 175,000 points in late 2025 (offer no longer available), but it was not widely accessible.

So, if you're considering wide availability and redemption value, this 150,000-point offer is the highest bonus we've seen.

Related: Chase Sapphire Reserve jumps to 150,000 points — is this the best-ever offer?

What is the real value of 150,000 Ultimate Rewards points?

TPG's valuations deem Chase Ultimate Rewards points to be worth 2.05 cents apiece. When you consider this valuation, the 150,000 points from the Sapphire Reserve are worth a whopping $3,075.

Of course, how much real value you get out of the 150,000-point bonus depends on how you plan to redeem your rewards. If you take the Chase Travel℠ route for booking flights or hotels with your points, you could potentially get up to 2 cents per point in value with Points Boost. Even better, a few hotels are eligible for up to 2.5 cents per point through Points Boost.

We typically recommend you transfer your Ultimate Rewards points to one of Chase's 14 airline and hotel transfer partners. Redeeming this way could get you more than 2.05 cents per point, depending on your redemption.

Related: How to redeem Chase Ultimate Rewards points for maximum value

How do I maximize 150,000 Ultimate Rewards points?

There are multiple ways to maximize the Sapphire Reserve's bonus.

Here are a few ideas:

• 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 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 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.

Related: Stretch your points: 8 of the most valuable Chase Points Boost bookings

What's the best strategy to meet the minimum spend and earn the full bonus?

With the current Sapphire Reserve bonus, you'll have to spend $6,000 on purchases in the first three months to earn 150,000 points.

There are many strategies you could employ here, including:

• Buying everything with your new card (including rent and housing costs that you can pay with a credit card)
• Prepaying bills, such as insurance, utilities and other regular expenses
• Picking up the tab when you dine with a larger group
• Donating to charity
• Putting a down payment on a new car

These are just a few methods you can use to earn a new cardholder bonus. As always, just be sure you have enough funds in your bank account to pay off your statement balance in full each month. Otherwise, interest and late fees could decrease the value of your rewards.

Related: Why I time my credit card applications around predictable big annual bills and elevated welcome offers

Bottom line

These are some of the most common questions we've seen around the best publicly available offer we've ever seen on the Sapphire Reserve.

With a whopping 150,000 valuable Chase Ultimate Rewards points on the line, you want to be sure you're eligible for this bonus if you're looking to apply. Plus, remember that the card's $795 annual fee is steep, but there are multiple perks that help offset it.

To learn more, read our full review of the Sapphire Reserve.

Apply here: Chase Sapphire Reserve

Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.