Chase Sapphire Reserve offer with 100K points plus credit is ending soon

If you’re hoping to secure the current bonus on the Chase Sapphire Reserve® (see rates and fees), time is ticking — quickly.

New cardholders can earn 100,000 bonus points plus a $500 Chase Travel℠ promo credit* after spending $5,000 in the first three months from account opening. We’ve confirmed that this offer will end Aug. 21 at 9 a.m. EDT. So, if you’re considering an application, now is the time to decide.

*Note that the terms for the travel credit state: The promotional credit is valid for a one-time use only, if you apply the promotional credit to a transaction less than $500, you will forfeit the remaining balance.

Chase Ultimate Rewards points are worth 2.05 cents apiece, according to TPG’s August 2025 valuations. This makes Chase points one of the most valuable rewards currencies out there. And many redemption options could net a higher rate than this valuation.

When factoring in the total value of the promo credit, this offer is worth up to $2,550, which is an excellent return for the Sapphire Reserve’s $795 annual fee. If you like what you’ve read, you’ll want to act before Aug. 21 at 9 a.m. EDT.

Of course, be sure that you’re eligible for a bonus on the Sapphire Reserve, since restrictions have changed since the card’s recent refresh.

Once you’ve confirmed this, check out these details to know what you’ll earn with this current Sapphire Reserve bonus.

Who the $500 Chase Travel credit is good for

A unique feature of the Sapphire Reserve‘s current offer is the $500 Chase Travel promo credit.

First, it’s important to note that this credit is valid for one-time use. So, to take advantage of its full value, you must spend at least $500 in a single Chase Travel purchase.

This credit could be useful for many travelers:

• Those who aren’t loyal to a specific brand (and wouldn’t miss out on elite benefits for booking with a portal)
• Those who appreciate the simplicity of a travel portal
• Those who want to book a boutique property outside of the major chains

This current bonus is the first time we’ve seen a Chase Travel credit included with an offer in the card’s history. If you’re the type of traveler who would appreciate this benefit, you’ll want to apply for this card before the offer expires Aug. 21 at 9 a.m. EDT.

Related: Your biggest Chase Sapphire Reserve questions answered

Why we love Chase Ultimate Rewards points

The Sapphire Reserve‘s current offer includes 100,000 Chase points, which are worth up to $2,050, per TPG’s August 2025 valuations.

Here at TPG, we love Chase points because of the flexible options unlocked by the issuer’s 14 transfer partners. These include high-value loyalty programs such as Air Canada Aeroplan, Air France-KLM Flying Blue, British Airways Club and World of Hyatt.

There are multiple redemptions you can make with the points included with the bonus, including:

If you’re not interested in transferring your points to loyalty programs, you can still get up to 2 cents per point for select redemptions made in the Chase Travel portal with Points Boost. Your rate depends on which redemption you choose, and there is solid value to be found in the portal.

Related: Why Chase’s Points Boost is an outstanding (kind of surprising) new way to book hotels on points

Bottom line

Beyond its welcome bonus, the Sapphire Reserve is worth a place in your wallet because of premium perks such as:

Having a transferable rewards credit card is one of the best ways to keep your points safe from devaluations within certain loyalty programs, since you can move your points to a specific partner as soon as you’ve chosen a redemption. Adding the Sapphire Reserve to your wallet is a great choice to start building your transferable points balance.

The current 100,000-point offer with a $500 Chase Travel promo credit after meeting the minimum spend requirements will end Aug. 21 at 9 a.m. EDT. If you’d find outsize value in this travel credit, now is an excellent time for your application.

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

Apply here: Chase Sapphire Reserve