Image: Chase
I don't write many "last chance" posts, because most last chances aren't. This one is.
Chase has confirmed that the Chase Sapphire Preferred's 100,000-point welcome offer ends this Thursday, July 30, 2026 at 3pm ET. Not "ending soon." Not "while supplies last." An actual timestamp - which is rare enough that I want to make sure nobody reading this misses the window by a day.
Earn 100,000 bonus points after spending $5,000 on purchases in the first 3 months. Offer ends Thursday, July 30 at 3pm ET.
Why This One Actually Matters
The Sapphire Preferred has been around for well over a decade, and a 100,000-point bonus has only shown up a handful of times in its entire history. The standard offer before this promotion launched on June 15 was 75,000 points - so we're talking about an extra 25,000 points just for applying during the right window.
Independent valuations peg 100,000 Ultimate Rewards points at roughly $2,000 when transferred to travel partners. On a card with a $95 annual fee, that's about as lopsided a value equation as you'll find anywhere in the credit card world right now.
And here's my honest take: I think the days of six-figure bonuses on sub-$100 annual fee cards are numbered. Issuers have been steadily pushing their best offers onto premium cards with $500+ fees. When a bonus like this shows up on a $95 card, it increasingly feels like a throwback - and I wouldn't bet on Chase bringing it back anytime soon. When this one ended in the past, the offer typically dropped straight back to earth.
The Card Itself Got Better This Summer
Remember when we covered the Sapphire Preferred's big June 15 refresh? That's the version of the card you'd be applying for. The quick recap: 3x on dining, online groceries, gas and EV charging, vacation homes, and select streaming, 5x on travel booked through Chase Travel, a hotel credit at each account anniversary, plus a new Global Entry/TSA PreCheck/NEXUS credit and emergency evacuation coverage.
So this isn't a case of a big bonus stapled onto a stale product. The bonus and the card refresh landed together, and the bonus is the part with an expiration date.
The Fine Print You Should Actually Read
Three things before you hit apply:
First, the Hyatt caveat. New Sapphire Preferred cardmembers transfer to World of Hyatt at a reduced 4:3 ratio rather than 1:1. Every other transfer partner - United, Southwest, Air France-KLM, British Airways, and the rest - stays at 1:1. Hyatt at 4:3 is still solid value, but if Hyatt was your entire reason for wanting Ultimate Rewards, factor it in.
Second, once per lifetime. Under Chase's updated Sapphire rules, you can earn the welcome bonus on each Sapphire card once per lifetime. The silver lining: holding a Sapphire Reserve no longer automatically blocks you from earning the Preferred's bonus, which opens this offer up to a lot of Reserve cardholders who were previously locked out.
Third, the 5/24 rule still applies. If you've opened five or more personal cards across all issuers in the last 24 months, Chase will almost certainly decline you. Count your cards before you burn the application.
One more practical note: the $5,000 spending requirement over three months works out to about $1,667 a month. Don't apply if you'd need to manufacture spending or carry a balance to get there - interest charges would eat the bonus alive.
What 100,000 Points Actually Gets You
This is the fun part. 100k Ultimate Rewards transferred at 1:1 is enough for a round-trip economy ticket to Europe with points left over, several domestic round-trips, or a serious chunk of a business class seat to Asia. If you want to see what's actually bookable with your new stash, Award Travel Finder is my go-to for scanning live award availability across programs before deciding where to send points. And once you've booked, Flight Seatmap shows live seat availability so you can lock in the right seat for the long haul.
100,000 points, roughly $2,000 in travel value, on a card with a $95 annual fee. The window closes Thursday at 3pm ET.
The Bottom Line
If you're under 5/24, haven't earned a Sapphire Preferred bonus before, and can hit $5,000 in organic spending over three months, this is one of the easiest yes decisions of 2026. If any of those three things isn't true, let it go - there will be other offers, and no bonus is worth a declined application or interest charges.
Whatever you do, don't wait until Thursday morning. Application systems have a way of getting flaky right before a deadline.
Are you jumping on this one, or sitting it out for 5/24 reasons? Hit reply and let me know - I read every response, and I'm curious how many of you are saving slots for something else.
Are you grabbing the Sapphire Preferred 100k bonus before it's gone?
See you tomorrow with more,
