There’s One Indisputable Best Credit Card Initial Bonus Offer Right Now

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Last week Chase announced the biggest-ever public offer for the Chase Sapphire Preferred® Card: 100,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.

This is the indisputable best credit card initial bonus offer available right now. Period.

They’ve only ever offered 80,000 points a couple of times before, and this is the first time they’ve has a public 100,000 point offer. And these aren’t just any points they are points that transfer to a wide variety of airline and hotel programs, or that can be spent directly with strong value.

  • Earning: Double points on travel and dining at restaurants

  • Transfer points to airlines and hotels: points transfer to United, Hyatt, Southwest, British Airways, Virgin Atlantic, Singapore Airlines, Air France KLM, JetBlue, Aer Lingus, Iberia, Emirates, Marriott, IHG Rewards Club.

  • Or use them for statement credits: The new Pay Yourself Back tool lets you redeem points at 1.25 cents apiece in value against eligible card charges

  • Food delivery benefit: Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DoorDash’s DashPass (activate by December 31, 2021).

But let’s ignore for a moment the $95 annual fee card’s ongoing benefits. Let’s just look at the bonus.

  • Minimum value: if you use it to pay for travel through Chase’s portal, or use it for statement credits as part of the ‘Pay Yourself Back’ program you’ll get 1.25 cents apiece in value, so the initial bonus offer is worth $1250.

  • Maximize value: I value Chase points at 1.8 cents apiece, making the bonus ‘worth’ $1800. That’s because of the tremendous flexibility in transferring points to airline and hotel loyalty programs, and redeeming the points for premium rewards where you might get far more value.

There are 100,000 point offers for some cards, but the two things to keep in mind about what sets this 100,000 point offer apart are:

  1. Chase points are more valuable than most points because of their flexibility, you can transfer them to a wide variety of different places.

  2. The spending requirement to earn the bonus is relatively low.

An initial bonus worth $18000 represents a 45% rebate on $4000 spend which is almost unheard of. The bonus is big, it’s paid in the form of a valuable currency, and the requirements to earn the bonus are reasonable.

If you think there’s any better initial bonus offer out there then, please, make the case in the comments – because I’m not seeing it.

Chase Sapphire Preferred® Card

About Gary Leff

Gary Leff is one of the foremost experts in the field of miles, points, and frequent business travel - a topic he has covered since 2002. Co-founder of frequent flyer community, emcee of the Freddie Awards, and named one of the "World's Top Travel Experts" by Conde' Nast Traveler (2010-Present) Gary has been a guest on most major news media, profiled in several top print publications, and published broadly on the topic of consumer loyalty. More About Gary »

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Editorial note: any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Comments made in response to this post are not provided or commissioned nor have they been reviewed, approved, or otherwise endorsed by any bank. It is not the responsibility of advertisers Citibank, Chase, American Express, Barclays, Capital One or any other advertiser to ensure that questions are answered, either. Terms and limitations apply to all offers.


  1. And I bet 99.9% of those who read these blogs are ineligible as they long ago got the card. News of this offer has been done to death.

  2. @Max Gross – I got the card a long time ago but I don’t currently have it or Sapphire Reserve, I just applied myself

  3. Any idea if this offer will be added to refer a friend? A friend just tried to refer me so they can get 15k and the offer I got was the 80K plus $50 grocery credit.

  4. Can you get this card if you already have the Sapphire Reserve card? Also I don’t remember, but I may have had this card many years ago.
    I would love to be able to get the card and 100,000 points!

  5. I live in Florida and my a/c just went out yesderday so I had to order a new system right away (NOT CHEAP!!). I never had any of the Chase products before — and it’s been two years since I had applied for a new card — so I filled out the application and I was immediately approved. It made sense to take advantage of the huge $1,500-$1,800 rebate described herein for the $4,000+ spend which I now have to make. Thanks for the reminder, Gary.

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