Starting Aug. 21, 2025, new cardholders can qualify for the following eye-popping welcome offer: Earn 125,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.
Those points — Chase Ultimate Rewards® points, to be exact — are worth one cent each when redeemed for cash back, which means that the card’s updated bonus is worth $1,250 when redeemed that way. But you can also redeem points toward travel, potentially for even greater value.
Previously, the Chase Sapphire Reserve® offered new applicants a different bonus: 100,000 bonus points plus a $500 Chase Travel℠ promo credit after spending $5,000 on purchases in the first 3 months of having the card.
The new offer comes with a higher spending requirement and is slightly less valuable overall, as it no longer includes the $500 credit on travel booked through Chase. However, with the new offer, you don’t need to book via Chase directly in order to realize its full value, so it can offer cardholders more flexibility when redeeming.
Apart from the new welcome bonus, the card’s ongoing rewards and benefits remain the same. Here’s some of what the $795-annual-fee card offers:
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8 points per dollar spent on travel bookings purchased through Chase, including flights, hotels, rental cars, cruises, activities and tours.
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4 points per dollar spent on bookings made directly with an airline or hotel.
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3 points per dollar spent at restaurants, including eligible food delivery.
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1 point per dollar spent on all other purchases.
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5 points per $1 spent on Lyft, through Sept. 30, 2027.
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Up to $300 a year in statement credit automatically applied to travel purchases.
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Access to Chase’s Sapphire Lounges in select airports.
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Multiple hotel and airline transfer partners.
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TSA PreCheck, Global Entry or NEXUS credit, worth up to $120.
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Up to $500 in annual credit (in the form of two $250 credits) for stays with The Edit, a collection of 1,000+ high-end hotels and resorts.
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“Sapphire Reserve Exclusive Tables” program, which grants cardholders access to reservations at popular restaurants across the country. Cardholders also get a $300 annual dining credit (in the form of two $150 credits) for restaurants that are part of Sapphire Reserve Exclusive Tables.
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An extensive list of additional credits, totaling up to thousands of dollars in value per year.
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No foreign transaction fees.