Some of the offers below are no longer available and may be out of date

Whether you want to earn cash back or gift cards or you’ve decided you’re ready to dive into travel rewards, a Chase Sapphire bonus is probably your best bet right now. Chase just unveiled better bonus offers on its popular Chase Sapphire cards, including both the Chase Sapphire Preferred® Card and the Chase Sapphire Reserve®.

As a reminder, both of these cards earn valuable Chase Ultimate Rewards points, which can be redeemed for gift cards, merchandise, cash back or travel through the Chase portal. Chase Ultimate Rewards points can also be transferred to Chase airline and hotel partners at a 1:1 ratio, making them one of the most valuable and versatile rewards currencies on the market.

Chase Sapphire cards sign-up bonuses

Currently, the Chase Sapphire Preferred is leading the way in terms of its bonus offer. New cardholders can earn a whopping 100,000 points when they spend just $4,000 on purchases within three months of account opening. Those points can be worth $1,250 in travel via Chase Ultimate Rewards.

Meanwhile, the Chase Sapphire Reserve is doling out 60,000 points worth $900 in travel for new cardholders who sign up and spend $4,000 on purchases within three months of account opening.

The following chart shows the key details of each card, including their rewards rates, sign-up bonuses and annual fees. At first glance, it’s easy to see why the Chase Sapphire Preferred is the most attractive offer right now.

Chase Sapphire Preferred Chase Sapphire Reserve
Sign-up bonus 100,000 points when you spend $4,000 on purchases within three months of account opening 60,000 points when you spend $4,000 on purchases within three months of account opening
Rewards rate 5X points on travel purchased through Chase Ultimate Rewards®, 3X points on dining and 2X points on all other travel purchases, plus more.

5X points on Lyft rides (through March 2022)

 Earn 5X total points on air travel and 10X total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3X points on other travel and dining & 1 point per $1 spent on all other purchases

10X points on Lyft rides (through March 2022)
Annual fee $95 $550
Cardholder perks
  • Points transfer 1:1 to airline and hotel partners
  • Points are worth 1.25 cents each when redeemed for travel through Chase
  • No foreign transaction fees
  • Free year of DashPass membership (enroll by Dec. 31, 2021)
  • Points transfer 1:1 to airline and hotel partners
  • Points are worth 1.5 cents each when redeemed for travel through Chase
  • No foreign transaction fees
  • Free year of DashPass membership (enroll by Dec. 31, 2021)
  • Up to $60 in DoorDash credits through Dec. 31, 2021
  • Get up to $120 in Peloton credits through the end of 2021
  • Complimentary Lyft Pink membership (activate by March 31, 2022)
  • Priority Pass Select airport lounge membership
  • Fee credit for Global Entry or TSA PreCheck membership
  • $300 annual travel credit

As you can see, the Chase Sapphire Preferred offers a much higher bonus of with a much lower annual fee of $95. However, the Preferred comes with a lot fewer perks than the Reserve delivers for its $550 annual fee.

Cardholders with the Sapphire Reserve fork over a pretty penny for the privilege, yet they get benefits like a $300 annual travel credit, a credit of up to $100 toward Global Entry or TSA PreCheck membership and Priority Pass Select airport lounge membership that has a retail value of around $429.

Also, be aware that points earned with the Sapphire Reserve are worth 50 percent more when redeemed for travel through Chase, compared to the 25 percent rewards bonus you get with the Sapphire Preferred.

A few other perks can make the Sapphire Reserve a better value if you use them. For example, you get up to $60 in DoorDash credits and up to $120 in Peloton credits through the end of 2021.

On top of these differences, the Reserve comes with a few more travel benefits and consumer protections than the Preferred card. Here’s a rundown of the main insurance benefits and protections each card offers:

Chase Sapphire Preferred

  • Purchase protection against damage and theft
  • Extended warranties
  • Primary auto rental coverage
  • Baggage delay insurance
  • Lost luggage reimbursement
  • Trip delay reimbursement
  • Trip cancellation and interruption insurance
  • Travel and emergency assistance services
  • Roadside dispatch
  • Travel accident insurance

Chase Sapphire Reserve:

  • Purchase protection against damage and theft
  • Extended warranties
  • Return protection
  • Primary auto rental coverage
  • Baggage delay insurance
  • Lost luggage reimbursement
  • Trip delay reimbursement
  • Trip cancellation and interruption insurance
  • Travel and emergency assistance services
  • Roadside assistance
  • Travel accident insurance
  • Emergency evacuation and transportation
  • Emergency medical and dental benefit

Additional consumer benefits you get with the Chase Sapphire Reserve include return protection worth up to $500 per item and up to $1,000 per year, emergency evacuation and transportation coverage worth up to $100,000 and an emergency medical and dental benefit worth up to $2,500 per year when you are sick or injured more than 100 miles from home.

How to use Chase Sapphire bonus offers

Whether you go after the bonus for the Sapphire Preferred or Reserve, there are quite a few options when it comes to redeeming your rewards. The chart below explains how you can use your Chase Ultimate Rewards points when you’re ready and how much the bonus is worth with either card:

Chase Sapphire Preferred 100k bonus Chase Sapphire Reserve 60k bonus
Redeem for travel through Chase Points are worth 1.25 cents each, or $1,250 in value Points are worth 1.5 cents each, or $900 in value
Transfer to airline and hotel partners 1:1 ratio 1:1 ratio
Statement credit 1 cent per point, or $1,000 1 cent per point, or $600
Cash back 1 cent per point, or $1,000 1 cent per point, or $600
Gift cards 1 cent per point, or $1,000 1 cent per point, or $600
Amazon.com purchases 1 cent per point, or $1,000 1 cent per point, or $600
Chase Pay purchases 1 cent per point, or $1,000 1 cent per point, or $600

Chase Ultimate Rewards transfer partner values

We already mentioned how both Chase Sapphire cards let you transfer your points to airline and hotel partners on a 1:1 basis, and this is another area where you’ll want to choose your new card wisely. The welcome bonus on the Chase Sapphire Preferred leaves you with a larger stash of points you can turn into airline miles or hotel loyalty points, which can have higher values than Chase points do on their own.

The following chart shows how much Chase Sapphire bonus points are worth with Chase transfer partners:

Chase Sapphire Preferred® Card: Earn 100,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $1,250 when you redeem through Chase Ultimate Rewards®.

Chase Sapphire Reserve®: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $900 toward travel when you redeem through Chase Ultimate Rewards®

Chase Sapphire Preferred 100k bonus Chase Sapphire Reserve 60k bonus
Aer Lingus (1.5 cents each) $1,500 $900
Aeroplan / Air Canada (1.5 cents each) *coming later in 2021 $1,500 $900
Air France / Flying Blue (1.2 cents each) $1,200 $720
British Airways (1.5 cents each) $1,500 $900
Emirates (1.2 cents each) $1,200 $720
Iberia PLUS (1.5 cents each) $1,500 $900
JetBlue (1.3 cents each) $1,300 $780
Singapore Airlines KrisFlyer (1.3 cents each) $1,300 $780
Southwest Rapid Rewards (1.5 cents each) $1,500 $900
United MileagePlus (1.3 cents each) $1,300 $780
Virgin Atlantic (1.5 cents each) $1,500 $900
IHG Rewards (0.5 cents each) $500 $300
Marriott Bonvoy (0.8 cents each) $800 $480
World of Hyatt (1.7 cents each) $1,700 $1,020

Which Chase sign-up bonus should you choose?

The Chase Sapphire Preferred bonus is enticing, and it’s the highest we have ever seen. With that in mind, you have some work to do when it comes to figuring out which Chase Sapphire card is best for your needs.

While the Sapphire Reserve has a much higher annual fee of $550 and a considerably smaller bonus offer, travel benefits like airport lounge access, an annual $300 travel credit and a fee credit for Global Entry or TSA PreCheck membership secure its value. Not only that, but points are worth 1.5 cents each when you redeem them for travel through Chase, compared to just 1.25 cents per point in value with the Chase Sapphire Preferred.

Should you get the Chase Sapphire Preferred or the Chase Sapphire Reserve? We suggest thinking over the Sapphire Reserve benefits and how often you would use them, as well as whether you are OK with a high annual fee. If you can live without luxury travel benefits and you prefer a higher bonus with a lower annual fee, the Sapphire Preferred is the better deal.