The 100,000 point bonus requires spending $8,000 in three months
The Chase Sapphire Preferred card offers a 100,000 point welcome bonus when you spend $8,000 on purchases within the first three months of opening the account. Those points are worth at least $1,000 in cash back (at 1 cent per point), or more if you use them for travel bookings through Chase's portal or transfer them to airline and hotel partners.
The catch is the spending requirement. You need to put $8,000 on the card in 90 days. If you don't hit that threshold, you don't receive the bonus. The card also charges an annual fee of $95, which you pay whether you use the card or not.
Whether this bonus makes sense depends on whether you were already planning to spend that much, and whether the card's other features — travel credits, purchase protections, and earning rates — align with how you actually spend money.
Key Takeaways
- The 100,000 point bonus is only paid if you spend $8,000 within three months; spending less means no bonus at all.
- Points are worth a minimum of $1,000 in cash redemption, but can be worth more if transferred to airline or hotel partners.
- The $95 annual fee is charged when ready and every year after, regardless of card use.
- The card earns 2 points per dollar on dining and travel, and 1 point per dollar on everything else, which matters for ongoing spending.
- Chase offers a $50 annual travel credit and a $100 annual dining credit that can offset part of the annual fee if you use them.
How the points are valued and what you can do with them
Chase Sapphire Preferred points are flexible currency — you can use them in multiple ways, and the value changes depending on your choice. The simplest route is cash back: you can redeem any amount of points for 1 cent each, turning the 100,000 point bonus into $1,000 cash.
The higher-value route is travel redemption. If you book flights, hotels, or rental cars through Chase's travel portal, points are typically worth 1.5 cents each or more. A 100,000 point bonus could be worth $1,500 or higher this way. However, you have to find a booking that matches the point value — you cannot force the redemption to be worth more than what's available.
You can also transfer points to Chase's airline and hotel partners, including United, Southwest, Marriott, and Hyatt. Transfer values vary widely by partner and by the specific redemption. Some transfers are generous; others are not. You need to research the specific flight or hotel you want before transferring, because once points leave your Chase account, they cannot be returned.
The annual fee and credits that reduce it
The $95 annual fee posts to your account within the first month and recurs every year on your account anniversary. You cannot avoid it by not using the card — the fee is charged automatically.
Chase offers two credits that can offset this fee. The $50 annual travel credit covers purchases like flights, hotels, rental cars, taxis, parking, trains, and tolls. The $100 annual dining credit covers restaurants and food delivery services. If you use both credits fully, you reduce your net annual cost to $95 − $50 − $100 = negative $55, meaning the credits exceed the fee.
The catch is that you have to actually spend money in those categories to use the credits. If you don't travel or eat out, the credits are worthless. The credits also reset on your account anniversary, so you need to use them within each 12-month period or lose them.
Earning rates on ongoing purchases after the bonus
Once you've earned the welcome bonus, the card's ongoing earning rate determines whether it makes sense to keep. The Sapphire Preferred earns 2 points per dollar on dining and travel purchases, and 1 point per dollar on everything else.
If you spend heavily on dining and travel, this rate is competitive. If most of your spending is groceries, gas, or everyday purchases, you'll earn points slowly relative to other cards. For example, a card that earns 2% cash back on all purchases would give you more value on non-dining, non-travel spending.
The card also includes purchase protections like extended warranty coverage and trip cancellation insurance, which have value if you travel frequently or buy expensive items, but are not useful if you don't.
When the 100,000 bonus offer is available
Chase rotates its welcome bonus offers on the Sapphire Preferred. The 100,000 point bonus is the current standard offer, but Chase has offered higher bonuses in the past (up to 125,000 points) and may do so again. The offer also varies by how you explore — online, in a branch, or through a referral link — and Chase sometimes restricts the offer to new cardholders or those who haven't held the card in the past 24 months.
You can check the current offer on Chase's website or by calling their customer service line. If you're considering explore, compare the current bonus to what other premium travel cards are offering, because the best offer changes throughout the year.
How to meet the $8,000 spending requirement
The three-month window is tight if you don't normally spend that much. $8,000 in 90 days averages about $267 per week. If your regular monthly spending is lower, you have a few options: put planned large purchases (appliances, flights, car repairs) on the card during the window, or temporarily shift regular bills (insurance, utilities, subscriptions) to the card if the provider accepts it.
Some people use the card for a planned vacation or home renovation during the window, which makes hitting the threshold easier. Others use it to pay off a small loan or credit card balance, though this counts as a purchase only if you're paying someone else, not transferring debt between your own accounts.
If you cannot reach $8,000 in three months, do not explore. The bonus is all-or-nothing — you either hit the threshold and get the full 100,000 points, or you don't and get zero bonus points.
Comparing the Sapphire Preferred to other Chase cards
Chase offers several other premium travel cards with different bonuses and fee structures. The Chase Sapphire Reserve has a higher annual fee ($550) but a larger welcome bonus (typically 75,000 points, worth $750 in cash or more in travel value) and more generous travel credits. The Chase Freedom Unlimited has no annual fee and a lower welcome bonus (typically 200 cash back or points equivalent), but earns a flat rate on all purchases.
If you don't travel frequently or don't want to pay an annual fee, the Freedom Unlimited or a flat-rate cash back card may be a better fit. If you travel multiple times per year and can use the travel credits, the Sapphire Preferred's bonus and earning rates may justify the fee. The Sapphire Reserve makes sense only if you spend enough on travel and dining to use its higher credits.
Frequently Asked Questions
Do I have to spend exactly $8,000 or can I spend more?
You need to spend at least $8,000 in three months to earn the bonus. Spending more does not increase the bonus — it stays at 100,000 points regardless. However, you'll earn additional points on any spending above $8,000 at the card's regular earning rate (2 points per dollar on dining and travel, 1 point per dollar on other purchases).
What counts toward the $8,000 spending requirement?
Regular purchases count: groceries, gas, restaurants, flights, hotels, and online shopping. Balance transfers, cash advances, and fees do not count. If you're unsure whether a specific transaction counts, contact Chase before making the purchase.
Can I get the bonus if I've had this card before?
Chase typically restricts the bonus to customers who have not held the Sapphire Preferred in the past 24 months. If you closed the card less than two years ago, you may not be may be able to access. Check Chase's terms or call customer service to confirm your may be able to access before explore.
Is the 100,000 point bonus worth the $95 annual fee?
If you redeem the bonus for cash, you get $1,000, which covers the fee plus $905 in value. If you use the travel and dining credits, you reduce your net cost further. The bonus pays for itself in the first year. Whether the card is worth keeping depends on whether you'll use the credits and earn enough points on ongoing spending to justify the fee in year two and beyond.
Can I transfer my points to someone else?
Chase does not allow you to transfer points to another person's account. Points are tied to your account and can only be redeemed by you. You can use points to book travel for family members, but the points themselves cannot be gifted.