150,000 Points: The Chase Sapphire Reserve®’s Best Offer in History

If you’ve been eyeing the Chase Sapphire Reserve® card and looking for a sign that it’s time to apply, this might be it.

Chase’s premium travel, lifestyle, and rewards product now features a limited-time promotion — the card’s biggest offer ever. Earn 150,000 bonus points after you spend $6,000 on purchases in the first three (3) months of being approved for card membership. Apply here on Chase's site.

A very conservative value of 150,000 Chase points is $1,500. But if you transfer them to a Chase travel partner or book travel through Chase Travel℠, you can enjoy much better redemption value.

The card’s annual fee is $795. Between the welcome offer’s value and the card’s statement credit opportunities, it’s easy to get at least a couple of years’ annual fees back.

(All information about the Chase Sapphire Reserve® was collected independently by Eye of the Flyer. It was neither provided nor reviewed by the card issuer.)

Chase Sapphire Reserve®

The previous public welcome offer for the Chase Sapphire Reserve® was 100,000 points. Before that, it was 60,000. We haven’t seen 150,000 points on this card — ever.

Chase points are some of the most flexible in the points-and-miles game. You can transfer them 1:1 to partners like Flying Blue (ahem, Delta fans), Hyatt, United, Air Canada Aeroplan, Virgin Atlantic, British Airways, Southwest, and more.

You’ll need to spend $6,000 on purchases within the first three (3) months of being approved. That’s $2,000 a month.

If you’re planning a vacation, doing home improvement, paying tuition or quarterly taxes, or just running normal household expenses through one card, this is achievable for most households.

Does It Come with Lounge Access?!

One of the questions I get asked the most about credit cards is, “Does it come with airport lounges?”

Yes, the Chase Sapphire Reserve® indeed has airport lounge access.

Cardmembers and up to two guests get access to every Chase Sapphire Lounge by The Club.

Plus complimentary Priority Pass Select. Plus complimentary admission for cardholders, authorized users, and one guest each to Air Canada Maple Leaf Lounges and Air Canada Cafés in Canada, the U.S., and Europe (when departing on a Star Alliance flight).

Hard to put a dollar value on this, but if you fly more than a few times a year, it’s significant.

Earning Structure – 4X-8X on Flights?!

The Chase Sapphire Reserve® earns:

• 8X Chase Points on Chase Travel hotels and cars
• 8X on flights booked through Chase Travel℠
• 8X on cruises, activities, and tours booked through Chase Travel℠
• 4X on flights and hotels booked directly
• 3X on dining
• 5X on Lyft (through September 30, 2027)
• 1X on everything else

8X on flights (through Chase Travel) is massive. That’s effectively 8% back on flight bookings. Heck, even 4X on bookings through airlines is great.

Another Coupon Book?

Here’s where the new Chase Sapphire Reserve® earns — or doesn’t earn — its $795 annual fee. Let’s walk through every credit and how easy it is to actually use.

$300 Annual Travel Credit (Easy)

This is the easiest $300 you’ll earn back. Any eligible travel purchase — airfare, hotels, parking, taxis, trains, tolls, rideshare, you name it — counts toward this credit. It applies automatically. Most cardmembers will burn through this in the first month or two. I’ve paid for parking at meters and doctors’ offices (I live in Los Angeles — nothing is free) — even those have credited back to the card.

Effective annual fee after this credit alone: $495.

$250 Apple Music and Apple TV+ Credit (Easy for Apple Users)

If you already pay for Apple Music ($10.99/month) and Apple TV+ ($9.99/month) separately, that’s $251.76 a year — essentially fully covered. Activate through the Chase app.

If you have Apple One (which bundles both plus iCloud, etc.), the credit doesn’t apply to that bundle. Worth knowing before you assume this is an automatic value.

Running effective annual fee: $245.

$300 StubHub and viagogo Credit (Easier Than You’d Think)

$150 from January through June and $150 from July through December for tickets purchased through StubHub or viagogo. Enrollment required.

If you go to any live entertainment — concerts, theater, sporting events, comedy shows, festivals — this isn’t hard to use. Two musical tickets, a baseball game, a touring Broadway show through your local theater, a concert at the casino down the road. $150 every six months goes faster than you think.

If you don’t do live events at all, this credit isn’t for you.

Running effective annual fee for live entertainment fans: -$55. (Yes, negative. The card is paying you at this point.)

$120 Lyft Credit (Easy if You Travel)

$10 each month in Lyft credit through September 30, 2027. Frequent travelers who hop in a Lyft from the airport will use this without thinking. Plus, you’ll earn 5X points on Lyft purchases through then.

$420 DoorDash Benefits (Easy if You Use DoorDash)

Up to $25 each month: a $5 monthly promo on restaurant orders and two $10 monthly promos for groceries, retail, and other DoorDash orders.

Plus complimentary DashPass membership ($120 annual value), which knocks out delivery fees and lowers service fees on eligible orders. Activate by December 31, 2027.

If you use DoorDash regularly, this is real money. If you’re a Grubhub or Uber Eats loyalist (or you don’t order delivery at all), it’s less compelling.

I know food delivery hasn’t gotten cheaper — nothing has. Where I get real value is when I make dinner at home at use DoorDash, GrubHub, and Uber Eats for side dishes or dessert. Usually both. 😉

$300 Annual Dining Credit (Depends on Where You Live)

$150 from January through June and $150 from July through December at Sapphire Reserve Exclusive Tables restaurants — a curated list of over 275 spots through the Visa Dining Collection on OpenTable.

Add your Reserve to your OpenTable account, book at a participating restaurant, and pay with the card. (You don’t have to pay through OpenTable.)

If you live in a major metro and dine out at nicer restaurants, easy money. If you’re in a smaller market, the participating restaurant list might be thin. Check the list before you assume this credit will work for you.

$500 The Edit Hotel Credit (Harder — But Definitely Possible)

$250 from January through June and $250 from July through December on prepaid stays of two nights or more booked through Chase Travel’s The Edit collection.

The Edit is Chase’s curated luxury hotel program — think the Bellagio, Ritz-Carlton properties, boutique resorts. Stays come with extras like a $100 property credit, daily breakfast for two, room upgrades when available, and late checkout.

The catch: these are luxury properties at luxury prices, and the two-night minimum means you can’t just split the credit across one-night stays. If you take two nice trips a year and would book a high-end hotel anyway, this credit pays for itself plus the property perks. If you’re a road warrior at Hampton Inns, skip it.

$120 Global Entry, TSA PreCheck®, or NEXUS Credit

One-time statement credit of up to $120 every four years for application fees. Standard at this point but still worth $30/year if you renew on time.

Add It Up

For someone who travels a few times a year, uses Apple subscriptions, occasionally buys concert or game tickets, and orders the occasional DoorDash:

• $300 travel credit: $300
• $250 Apple credit: $250
• $300 StubHub/viagogo: $300
• $120 Lyft: $120 (or partial)
• $420 DoorDash: $300 (conservative usage)
• $300 dining credit: $300 (if you’re in a participating market)
• $500 The Edit: $500 (if you take a couple of nicer trips)

That’s up to $2,070 in annual statement credit value — before you factor in lounge access, the Global Entry/PreCheck credit, points earnings on everyday spend, or the welcome offer itself.

Even if you only realistically use half of these credits, you’re ahead of the $795 annual fee.

Big-Spender Bonus: $75,000 Tier

Hit $75,000 in eligible purchases during a calendar year and Chase tacks on:

• IHG One Rewards Diamond elite status
• Southwest Airlines A-List Status
• $500 Southwest Airlines credit
• $250 Shops at Chase credit

The status benefits are valid for the rest of the calendar year you hit the threshold plus all of the following year. Not relevant for most cardmembers, but worth knowing if you’re running a business or heavy household spend through the card.

Who Should Apply

The Chase Sapphire Reserve® makes sense if you:

• Travel a few times a year
• Use Apple Music or Apple TV+ (or would)
• Attend live events occasionally
• Want premium lounge access
• Value Chase’s transfer partners (Hyatt fans especially)

It probably doesn’t make sense if you don’t travel much, don’t use Apple subscriptions, never go to concerts or games, and rarely use DoorDash. The credits are valuable — but only if they match how you actually live.

For everyone else, this 150,000-point welcome offer is the best entry point this card has ever offered.

How to Apply

Earn 150,000 bonus points after you spend $6,000 on purchases in the first three (3) months of being approved for card membership.

You can also read more about the Chase Sapphire Reserve® here.