Every year, our editorial team evaluates hundreds of credit card offers. Some are good. A few are great. But only a small handful rise to the level where we feel compelled to keep reminding our community about them.

That's exactly what's happened with the current offer on the Chase Sapphire Preferred® Card (see rates and fees).

Last chance: Earn 100,000 bonus points on the Chase Sapphire Preferred after spending $5,000 on purchases in the first three months from account opening.

The limited-time, 100,000-point bonus officially ends at 3 p.m. ET on Thursday, July 30. If you've been considering applying, don't wait any longer.

And if you assumed you weren't eligible, it may be worth taking another look.

I was approved two weeks ago as a previous cardholder (I originally got the card in 2011 before eventually downgrading it) — and I'm not the only one.

Life is busy; we've all been there. But here's why you should jump on this offer now.

The value of 100,000+ Chase Ultimate Rewards points

For context, 100,000-point welcome bonuses haven't always been a thing.

But even though dozens of cards have hit (or surpassed) the six-figure mark in recent years, not all rewards currencies are created equal.

Chase Ultimate Rewards points remain among the most valuable, worth 2.05 cents apiece in our July 2026 valuations, making this welcome offer worth $2,050.

If you prefer simplicity, 100,000 points are worth at least $1,000 toward eligible travel booked through Chase Travel℠.

KATIE GENTER/THE POINTS GUY

You could extend the value of this bonus even more by taking advantage of Points Boost, available on select flights and hotels. By picking the right itinerary, you could unlock up to $1,750 in value instead.

I personally love using Chase's airline and hotel transfer partners. That's often where I've found the best value — and it's a big reason TPG values Ultimate Rewards points so highly.

Read more: 19 incredible ways to use 100k Chase Ultimate Rewards points

The earning doesn't stop after 100,000 points

The welcome offer is just part of it.

You can also accelerate your points balance thanks to the card's fantastic earning rates — some of which are brand-new:

  • 5 points per dollar via Chase Travel
  • 3 points per dollar on dining, including eligible takeout and delivery services
  • 3 points per dollar on select streaming services
  • 3 points per dollar on gas and EV charging (NEW)
  • 3 points per dollar on popular vacation rental platforms like Airbnb, Vrbo and more (NEW)
  • 3 points per dollar on online grocery services (excluding Walmart, Target and wholesale clubs)
  • 2 points per dollar on all other travel

The points you earn from this everyday spending add even more value to the current offer.

Related: Value simplicity? Why the Chase Sapphire Preferred is now the only card you need

The new perks — and same annual fee

The new earning rates are just part of the enhancements announced last month.

You now have an annual statement credit of up to $100 for prepaid hotels booked via Chase Travel. There's no stay requirement or minimum spend. Book a hotel that's at least $100; get a $100 statement credit. This single perk now covers the card's annual fee.

You also now receive up to $120 in statement credits every four years to cover the application fee for Global Entry, TSA PreCheck or Nexus, which can accelerate your security at the airport and at passport control when you return to the U.S.

AJ SMITH/THE POINTS GUY

Finally, the card also now offers one year of complimentary Apple TV (when activated by Dec. 31).

One change worth noting: For new cardholders who applied on or after June 15, 2026, Chase points transfer to World of Hyatt at a 4:3 ratio. Existing cardholders maintain the 1:1 transfer ratio until Oct. 1, 2026.

All of this comes with the same annual fee that the card has had since it launched over 15 years ago.

Related: Is the Chase Sapphire Preferred worth the annual fee? I say yes

The risk of waiting too long

Whenever we have a limited-time card offer here at TPG, there's one thing that happens every single time.

Within a few hours of an offer ending, we start getting emails from readers who didn't apply in time. Maybe they got distracted with something at work. Perhaps a child got sick, or they forgot to unfreeze their credit.

They plead with us for any way to still get the offer — and (heartbreakingly) we have to tell them no. Once it is over, there's nothing we can do.

Don't let this happen to you. If you wait too long, the offer may be gone before you get around to it.

Bottom line

I've covered travel rewards cards for years, and one lesson I've learned is that it's easy to assume another great offer is always around the corner.

Sometimes that's true. Sometimes it isn't.

This is only the third time we've seen the Chase Sapphire Preferred reach 100,000 points in its long history. And we simply don't know when (or if) this offer will return. So why risk it?

If you've been procrastinating because you still had time (no judgment from me!), this is really it. The bonus will end at 3 p.m. ET on Thursday, July 30.

Our data points show that even those who held the card years ago might be eligible for the 100,000-point bonus, as are those with the Chase Sapphire Reserve® (see rates and fees).

And even if you're unsure, Chase's eligibility pop-up box should notify you before your application is submitted.

Don't put yourself in a situation where you leave points on the table just because you waited too long.

If you've been considering the card, apply today before it's too late.

Last chance: Earn 100,000 bonus points on the Chase Sapphire Preferred after spending $5,000 on purchases in the first three months from account opening.

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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.



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