The Chase Sapphire Preferred 100k bonus is back for only the third time in the card’s history, and history says it will not stick around long. As of this writing the offer is live: earn 100,000 Ultimate Rewards points after you spend $5,000 on purchases in the first three months from account opening, on a card that still charges just a $95 annual fee.
Click here to learn more about this limited-time offer.
That bonus alone is worth more than $2,000 if you know how to use it, which is exactly why it tends to disappear fast. Before you rush to apply, there are a few timing questions worth answering, plus one part of the 2026 refresh that quietly made the card less valuable for a specific group of people. Let’s go through all of it.
Is the Chase Sapphire Preferred 100k Bonus Still Available?
Yes. The offer went live on June 15, 2026, according to Chase’s own announcement, and it remains open to new applicants as this is published. The terms are simple. Spend $5,000 on purchases within three months of opening the account and you earn the full 100,000 points. The annual fee stays at $95, unchanged from previous years.
This is one of the highest welcome offers this card has ever carried. Chase confirmed in its press release that the refresh and the elevated bonus launched the same day, so the 100k offer is tied to the broader 2026 update rather than a quiet back-end promotion.
When Does the Chase Sapphire Preferred 100k Bonus End?
Chase has not published an end date. The June 15 announcement framed the 100,000-point bonus as a limited-time offer “to celebrate” the refresh, with no deadline attached yet. That is normal for Chase.
What we can say from past behavior is that offers this rich tend to last weeks, not months. If you are eligible and ready, treating this as a short window is the safer assumption. There is no advantage to waiting, and a real risk that the bonus drops back to its standard 75,000 points.
Will the 100k Bonus Come Back If I Miss It?
Maybe, but you cannot count on it. The 100,000-point bonus has now appeared only three times since the card launched in 2009: once in 2021, again in 2025, and now in 2026. That is the entire track record.
Read honestly, that pattern is not a schedule. There was a four-year gap, then two years in a row. If you qualify now and the math works for you, the smart move is to act on the offer in front of you rather than gamble on a repeat. Standard offers on this card have typically sat in the 75,000 range between these spikes, so missing the 100k usually means settling for meaningfully less.
How To Get the Chase Sapphire Preferred 100k Bonus
Applying is the easy part. You apply for the card directly, then put $5,000 of purchases on it within three months. That works out to roughly $1,667 a month, which is manageable if you route your normal rent, groceries, and bills through the card. One detail people miss: the $95 annual fee does not count toward the $5,000, because it is a fee and not a purchase. The clock also starts on your approval date, not the day the physical card arrives, so do not lose two weeks waiting on the mail.
If you want the full breakdown of earning categories, credits, and protections before you commit, our complete Chase Sapphire Preferred benefits guide walks through everything the card does after the welcome bonus.
Who Is Eligible, and How 5/24 Affects You
Chase updated its Sapphire eligibility rules in January 2026, and the change opened the door for more people. You are not eligible if you currently hold the Chase Sapphire Preferred or have already earned its welcome bonus in the past. The good news is that holding or having held the Chase Sapphire Reserve no longer blocks you, which was a hard wall under the old rules.
The bigger gatekeeper is Chase’s unofficial but very real 5/24 rule. If you have opened five or more credit cards across all issuers, not just Chase, in the past 24 months, you will most likely be denied regardless of the bonus. Some authorized-user and business accounts count toward that tally too. You will also want a credit score comfortably in the 700s to clear approval.
I Already Got the Card at 75k. Can I Get Matched?
Possibly, and it is worth a phone call. This one comes with a sourcing caveat: it is based on reader reports collected by points sites, not on any official Chase policy. Several cardholders who applied within roughly ten days of the 100k offer launching have said they called Chase and successfully got matched to the higher bonus. It does not work for everyone, and there is no published rule guaranteeing it, but a polite call to the number on the back of your card costs nothing. If you were recently denied and believe you are under 5/24, the reconsideration line at 1-888-338-2586 is the place to plead your case with a human.
What 100,000 Points Are Actually Worth
Here is where the bonus earns its reputation. The same 100,000 points pay out very differently depending on how you redeem them. At the floor, you can cash out for $1,000 in statement credits, a flat one cent per point. Booking travel through the Chase Travel portal with Points Boost pushes that to as much as 1.75 cents each, or up to $1,750 in flights and hotels. Transfer the points to one of Chase’s airline and hotel partners and the ceiling climbs higher still. The Points Guy values Chase points at 2.05 cents each in its June 2026 valuation, which puts 100,000 points around $2,050 or more in award travel.
Chase has 14 airline and hotel transfer partners, including World of Hyatt, United MileagePlus, Air Canada Aeroplan, Air France-KLM Flying Blue, and Virgin Atlantic Flying Club. I have never once cashed Chase points out at a penny apiece, and after you see what a single business-class transfer can be worth, you probably won’t either.
The Catch: What the 2026 Refresh Took Away
The refresh added real value, but it also took two things away, and the affiliate-heavy coverage tends to skip past the second half. The comparison block below shows both sides at a glance.
The change that matters most is the World of Hyatt transfer ratio. For anyone who applies on or after June 15, 2026, Chase points now transfer to Hyatt at 4:3 instead of 1:1. In plain numbers, 1,000 Chase points convert to just 750 Hyatt points. A hotel night that used to cost 15,000 Hyatt points now needs 20,000 Chase points to book, a 25% premium on what was one of the best uses of these points. If you opened the card before June 15, you keep the old 1:1 rate until October 1, 2026, then you move to 4:3 as well.
The second cut is the 10% anniversary points bonus, which is gone entirely for new applicants. Existing cardholders who opened before June 15 still earn it on purchases through October 1, 2026, with those points paid out by January 31, 2027. New cardmembers never see it. Neither change undoes the value of a 100,000-point bonus, but you should walk in knowing the Hyatt sweet spot is no longer as sweet.
Who Should Skip This Offer
This offer is excellent, but it is not for everyone. Skip it if you are at or over 5/24, since you will almost certainly be denied and waste a hard inquiry. Skip it if you have already earned a Chase Sapphire Preferred welcome bonus, because you are not eligible for another. Skip it if you cannot put $5,000 on the card within three months without buying things you don’t need or carrying a balance, because interest charges will erase the bonus fast. And if your entire points strategy was built on 1:1 Hyatt transfers, run that new 4:3 math before you apply, since the card may be worth less to you specifically than it was a month ago. For nearly everyone else who can clear eligibility and meet the spend responsibly, 100,000 points for $95 is one of the strongest deals in the market right now.
The bottom line is simple. The Chase Sapphire Preferred 100k bonus is live, it is rare, and there is no announced deadline, which historically means the window is short. If you qualify and the spend is realistic, this is the moment to move.
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