It’s back!

The best welcome offer we’ve ever seen on the Chase Sapphire Preferred® Card (see rates and fees) is still around, and we couldn’t think of a better time to apply.

The card is currently offering 100,000 points, earned after you spend $5,000 on purchases in the first three months from account opening. This is only the third time ever that the Sapphire Preferred has offered a bonus this high since it was introduced way back in 2009. And best of all, the card still only charges a $95 annual fee — same as it did all those years ago.

But what exactly can those 100,000 points get you?

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.

Those 100,000 Chase Ultimate Rewards points are ultra-valuable thanks to the ability to redeem them not just for trips through Chase Travel℠, but also via transfers to the program’s 14 airline and hotel partners. In fact, we’re brimming with ideas about all the ways you can use the 100,000 Chase Ultimate Rewards points from this offer.

What’s more, the Chase Sapphire Preferred was also refreshed with new and improved benefits, including higher everyday earning rates on purchases like gas and electric vehicle charging.

The card also now offers a $100 annual Chase Travel hotel credit instead of the $50 it previously conferred.

Here is what this welcome bonus can get you and all the places 100,000 Chase points can take you.

Reward your inbox with the TPG Daily newsletter

Join over 700,000 readers for breaking news, in-depth guides and exclusive deals from TPG’s experts

By signing up, you will receive newsletters and promotional content and agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.

Chase Sapphire Preferred at a glance

• Limited-time welcome offer: Earn 100,000 bonus points after spending $5,000 on purchases in the first three months from account opening.
• This is the highest-ever offer. We’ve only seen this limited-time 100,000-point offer three times in the last 17 years!
• Low annual fee: Just $95 for a card with a welcome bonus that TPG values at over $2,000 by July 2026 valuations.
• Great ongoing value: Includes a $100 annual Chase Travel hotel credit, strong travel protections, good bonus-earning categories and valuable airline and hotel transfer partners.
• Why this is the best time to apply: This is a rare, highly valuable, limited-time offer on a low-fee card that doesn’t come around often and doesn’t last long.

Related: Chase Sapphire Preferred Card review: Still on top with new benefits and earning rates

Chase airline and hotel transfer partners

As a little refresher, here are Chase’s 14 current airline and hotel transfer partners.

Airlines

Hotels

As you can see, there are plenty of useful partners where your points can come in handy. Most Chase Ultimate Rewards transfer partners continue to transfer at a 1:1 ratio. The exception is World of Hyatt, where the transfer ratio depends on the card. Chase Sapphire Preferred cardholders who applied on or after June 15 transfer points at a 4:3 ratio, while those who applied before June 15 can continue transferring at a 1:1 ratio through Sept. 30.

Beyond transfer partners, remember that you can get 1-1.75 cents in value per point for select flights, hotels, car rentals and more via Chase Travel thanks to the program’s Points Boost feature.

Because of the myriad choices that Chase redemptions present, The Points Guy’s July 2026 valuations peg them at 2.05 cents apiece, which means the 100,000-point welcome offer is worth around $2,050.

And potentially much, much more if you take our advice and redeem them in one of the following ways.

Fly to Europe in lie-flat business class

It seems like business-class award flights cost hundreds of thousands of miles these days. But there are still some fantastic sweet spots, and we’ve got two of the best for you.

You can transfer Chase Ultimate Rewards points to Iberia Club Avios. That program only charges 40,500 Avios plus taxes and fees each way to fly Iberia business class from much of the northeastern U.S. to Spain on off-peak dates. So you’d only need 81,000 Avios round-trip instead of between $3,000-$5,000.

We also just found Air France business-class awards between New York’s John F. Kennedy International Airport (JFK) and Paris-Charles de Gaulle International Airport (CDG) starting at just 45,000 Flying Blue miles — another Chase transfer partner.

That means you could be celebrating the end of summer in the City of Light before you know it — and getting there in comfort.

Plan a tropical getaway to Hawaii

With 100,000 Chase points, you can book a romantic escape with your partner or a fun-in-the-sun beach vacation with your whole family in Hawaii by transferring them to United MileagePlus, another super useful Chase partner.

We recently found award tickets between Los Angeles International Airport (LAX) and various Hawaiian airports including Daniel K. Inouye International Airport (HNL) in Honolulu, Lihue Airport (LIH) on Kauai and Ellison Onizuka Kona International Airport (KOA) on the Big Island ranging from 13,000-15,000 United miles per person each way.

With the welcome bonus points plus those you’d earn from meeting the spending requirement, you’d have enough miles to fly a family of four to the islands.

Spend 5 nights in Hawaii

Already have your flights to Hawaii covered? 100,000 Chase points are enough for five nights in Hawaii at a Category 4 or 5 Hyatt, where many nights cost around 15,000 points.

So, you could convert 100,000 Chase points into 75,000 Hyatt points at the 4:3 transfer rate and book five nights in paradise at hotels such as the Hyatt Place Waikiki Beach or the Hyatt Regency Waikiki Beach Resort & Spa.

Travel the country on Southwest

Southwest Rapid Rewards, another Chase airline transfer partner, prices tickets dynamically, whether you’re paying cash or points. But that means you can find plenty of short hops on inexpensive routes starting under 5,000 points.

In fact, we just found plenty of tickets starting at just 4,500 Rapid Rewards points each way between various cities and Las Vegas. With 100,000 points, you could plan a fun weekend with round-trip tickets for yourself and 10 of your closest friends. But there are also plenty of other great ways to redeem Southwest Rapid Rewards points.

Take advantage of Points Boost for cheap hotel stays

Chase introduced its Points Boost feature last year. Points Boost lets certain cardholders redeem their points for travel directly through Chase Travel at higher-than-usual rates. For Chase Sapphire Preferred cardholders, that means their points are worth up to 1.5 cents apiece for hotel bookings on Chase Travel.

That might not sound like much, but it means your 100,000 bonus points are worth up to $1,500, which is a hefty sum to shave off a big trip. While the possibilities are endless, let’s say you wanted to visit Japan (like everyone else seems to have done in the past year or so).

You could spend three days eating your way through Osaka and saving $560 staying at the luxurious Swissotel Nankai Osaka for just 35,000 points.

Then take the train to the cultural capital of Kyoto and spend three nights at the adorable Hotel The Celestine Kyoto Gion in one of the city’s most beautiful historical districts, for about 62,300 points instead of $934.

You’d be saving around $1,500 on a six-night trip by using your 100,000 points this way.

Take the family to Disney World and Universal Studios

You have myriad options for flying to Orlando. You could always transfer Chase points to Southwest, and we found plenty of tickets for 20,000 Rapid Rewards points and under from major cities like Washington, D.C.

You could also book directly through the Chase Travel portal, where your Ultimate Rewards points are worth up to 1.75 cents apiece toward flights with Points Boost. We recently found flights from D.C. to Orlando for just $169 on a mix of Delta and JetBlue, which would cost only 11,252 points apiece. Multiply that by four, and you’re looking at 45,000 points for four tickets to Orlando.

Then, you’d have 55,000 points to transfer to World of Hyatt and end up with 41,250 points. That’s enough for nearly 7 nights at the Hyatt Place Orlando/Lake Buena Vista in a room with two beds and a pullout, since award rates start at 6,000 points per night. The hotel is only a five-minute drive to Disney and 15 minutes from Universal Studios.

With all the money you save, you’d have plenty left to spend on your days at the parks.

Hit up some Hyatt Category 6 stunners

Award rates at Hyatt Category 6 hotels start at 25,000 Hyatt points per night, so 100,000 Chase points transferred at a 4:3 ratio would convert to 75,000 Hyatt points … just enough for three nights at stunning hotels including TPG favorites like the Palacio Duhau-Park Hyatt Buenos Aires, the Alila Kothaifaru Maldives and the Park Hyatt Vienna, all of which have astronomical nightly rates that can regularly top $1,000 instead.

Fly ANA first or business class to Japan

One of the most useful Chase transfer partners is Virgin Atlantic Flying Club, thanks to its extensive airline partners, including Japanese carrier All Nippon Airways (ANA).

Virgin Atlantic charges just 52,500 points each way to fly ANA business class between the Western U.S. — including Los Angeles and San Francisco — to Tokyo. So you’d need 105,000 Virgin points round-trip, but that’s the minimum number you’d have after meeting the spending requirement to earn the Chase Sapphire Preferred’s welcome bonus. Sure beats paying $5,000-$8,000 for a ticket!

Alternatively, you could book a one-way flight in the airline’s incredible ANA The Suite first class from the western U.S. for 72,500 Virgin miles, or 85,000 from the East Coast. Those tickets regularly cost around $16,000.

London calling with Virgin Atlantic

Speaking of Virgin Atlantic, you can use its frequent flyer program to book awards from cities on the East Coast, including Boston and New York, to London’s Heathrow Airport (LHR) starting at just 6,000 Virgin miles each way in economy and 10,500 miles in premium economy.

That means you could fly up to eight people between the U.S. and the U.K. in coach, or class things up and take four people in premium economy. Just beware that taxes and fees can be high when traveling to or through London.

Save on flights to the Caribbean

If you’re short on other types of Oneworld airline miles, like Alaska Airlines Atmos Rewards points or American Airlines AAdvantage miles, transferring Chase points to British Airways Club might be a great option to save on otherwise expensive flights to the Caribbean.

Case in point: American Airlines operates several daily flights between its Miami hub and Grand Cayman. You’d need just 27,000 British Airways Avios and around $100 in taxes and fees round-trip rather than paying typical prices of around $450-$500. For 108,000 Avios, which you could earn from your 100,000 welcome bonus Chase points and a few extra from spending on the card, you’d have enough for four round-trip tickets, saving you around $2,000 in all.

Hop down to Panama with Aeroplan and Hyatt

Air Canada’s Aeroplan program is one of the most versatile Chase transfer partners thanks to the fact that you can use its points to book awards on nearly two dozen Star Alliance partner airlines.

One of those is Panama’s flag carrier, Copa Airlines. You need just 20,000 Aeroplan points to fly Copa round-trip from cities including Miami, or 25,000 points round-trip from hubs including Houston and New York to Panama City.

You’d have more than enough points left over to transfer to World of Hyatt and book a couple nights each at the swanky Hotel La Compania, located in a gorgeous historic building in Panama City’s Casco Antiguo district, and its sister resort in the nearby highlands, La Compania del Valle, both of which are part of the Unbound Collection. Free nights start at just 15,000 Hyatt points (20,000 Chase points transferred at a 4:3 ratio) at each property instead of paying around $300 per night.

Venture to South Africa on United

Points can make some of the world’s most far-flung destinations accessible. Case in point: You need just 90,000 United MileagePlus miles and around $60 in taxes and fees to fly round-trip from either Newark Liberty International Airport (EWR) or Dulles International Airport near Washington, D.C. (IAD) to either Cape Town or Johannesburg in United economy, and award availability is plentiful.

Sure, the flights are long, but by saving money on your airfare, you can put even more toward phenomenal experiences like wine-tasting in the Cape Winelands, or safari in Kruger National Park.

All-inclusive Mexico with Marriott

Marriott has so many brands these days you might not be familiar with the Delta Hotels brand, which hails from Canada. But this chain also fields properties abroad, including in Mexico. You can book two nights at the Delta Hotels Riviera Nayarit, An All-Inclusive Resort, starting at just 53,000 points apiece.

For that, you get jungly surroundings, a cute beach club, plentiful pools and, of course, all you can eat. Your 100,000-point welcome bonus plus a few extra points from meeting the spending requirement could be enough for two nights here instead of paying around $800.

Have it all with Hyatt all-inclusives

Speaking of all-inclusives, Hyatt has been incorporating all-inclusive brands right and left, including Secrets and Dreams. With 100,000 Chase points that convert to 75,000 Hyatt points, you could have enough from this welcome offer for five nights at various Category A and B all-inclusives, where award nights start at 12,000 and 15,000 points, respectively. Potential spots in Mexico and the Caribbean include the following properties:

• Dreams Curacao Resort & Casino
• Dreams Playa Esmeralda Resort & Spa in the Dominican Republic
• Dreams Royal Beach Punta Cana in the Dominican Republic
• Hyatt Vivid Grand Island in Cancun
• Sunscape Puerto Vallarta Resort & Spa

For a shorter stay, you could book three nights at various Category C all-inclusives, where rates start at 20,000 Hyatt points per night, including:

• Secrets Esmeralda Resort & Spa in Punta Cana
• Dreams Rose Hall Resort & Spa in Jamaica
• Dreams Los Cabos Suites Golf Resort & Spa in San Jose del Cabo
• Breathless Riviera Cancun Resort & Spa

Many others in the region fall into similar pricing bands.

Visit Singapore and Bali on Singapore Airlines

You can currently find plenty of awards flying economy on United Airlines or Singapore Airlines between the U.S. and both Singapore and Bali if you’re looking for a rainforest yoga retreat or relaxing beach trip. And even better, you’ve got a choice of two great transfer partners.

We found round-trip awards in economy on United that require just 88,000 MileagePlus miles. Or, you would need 88,000-97,000 Singapore Airlines KrisFlyer miles (another Chase transfer partner) round-trip depending on whether you’re departing the East or West Coast and heading to Singapore or onward to Bali. Tickets like this otherwise cost anywhere from $700-$2,500 in the coming months, depending on the dates and the carrier.

Ni hao, Hong Kong

Don’t forget about Air France-KLM Flying Blue for partner redemptions either. You need just 95,000 Flying Blue miles and $130 in taxes and fees to book a round-trip award on Delta’s new Los Angeles-Hong Kong route, which otherwise ranges from $1,300-$2,600.

You could also visit Hong Kong by redeeming just 88,000 United MileagePlus miles for the airline’s flights to the city from both Los Angeles and San Francisco. That’s instead of airfares that typically price out at $1,200-$1,400.

Operatic views in Sydney

The Park Hyatt Sydney is one of the world’s most iconic hotels thanks to its prime location and views of the Sydney Opera House.

Award nights there start at 35,000 World of Hyatt points per night, so with your 100,000 bonus points, you’d have more than enough for two award nights there (you’d end up with 93,000 Hyatt points total, factoring in the 4:3 transfer ratio) … instead of paying anywhere from $800-$1,300 a night.

Salsa down to Cartagena

Looking for an exciting South American escapade without breaking the bank (or having to fly too far)? Look no further than the sun-splashed Caribbean gateway of Cartagena, which has colorful colonial buildings and beautiful beaches just a short boat ride away. It’s also a quick flight from the U.S.

We are seeing round-trip flights from Atlanta to Cartagena on Delta starting at 35,000 Flying Blue miles or 37,000 Virgin Atlantic points, both of which are Chase transfer partners. Then, you could transfer Chase points to Hyatt and book six nights at 8,000 points each at the Hyatt Regency Cartagena for a total of 48,000 Hyatt points (64,000 Chase points) instead of $275 per night.

Fly Qatar Airways’ Qsuite around the world

Feel like burning through your big batch of points on a blowout airline redemption? You can book a one-way ticket between the U.S. and Doha in Qatar Airways’ much-lauded Qsuite business class starting at 70,000 British Airways Avios, a 1:1 transfer partner of Chase Ultimate Rewards.

You could go even further, all the way to the Maldives, for just 15,000 more Avios (that’s another five hours of luxury to experience). All told, you’d get nearly 24 hours of luxuriating in these fancy suites with closing doors, on-demand dining and high-end amenities. That’s instead of paying nearly $5,600 for the same experience.

Related: Am I eligible for the Chase Sapphire Preferred bonus?

Bottom line

With the 100,000 bonus points you can earn with the Chase Sapphire Preferred‘s current welcome offer, you have endless opportunities to travel, whether that’s jetting halfway around the globe or meeting up with friends and family nearby.

Thanks to Ultimate Rewards’ many transfer partners and the ability to redeem points directly through Chase Travel at rates of up to 1.75 cents apiece through Points Boost, Chase points are among the most versatile available.

While it might be hard to decide how to use all those points, one thing is simple: If you’ve been considering this card, it’s worth applying while the welcome bonus is at 100,000 points. Limited-time offers can change without much notice, so taking advantage of it now could help you maximize the value.

Don’t miss: 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.