| | | Read this before deciding whether to apply | | by Summer Hull, Senior Director of Content | |  | No one likes making mistakes — especially when they could cost you 100,000 bonus points.
One of the reasons the Chase Sapphire Preferred® Card is the rewards card I’ve recommended most over the last 16 years is that I’ve never met anyone who regrets getting one. However, I know lots of people who wish they’d applied during a better welcome offer.
Like when a rare 100,000-point welcome bonus — worth more than $2,000 by TPG’s July 2026 valuations — is on the line and it’s ending soon!
Ending soon: New Chase Sapphire Preferred cardholders can earn 100,000 bonus points after spending $5,000 on purchases in the first three months from account opening.
Here are four mistakes to avoid — including one I almost made myself — so you can make the most of this great card and limited-time offer.
1) Thinking you aren’t eligible for the 100,000-point bonus when you might be
Chase has changed the Sapphire Preferred eligibility rules in the past year and some people who previously couldn’t qualify may now be eligible. One big change is that having a Chase Sapphire Reserve® no longer disqualifies you from having a Sapphire Preferred.
Another huge development: Some former Sapphire Preferred cardholders who haven’t had the card in many years are also qualifying for this bonus.
But do keep in mind: - The Chase 5/24 rule (explained here) still applies.
- You’ll likely need a good credit score.
- Being an authorized user on someone else’s Sapphire Preferred doesn’t disqualify you.
And, as someone who used to have this card a long time ago, I almost made a big mistake in thinking I (and others like me) couldn’t get this 100,000-point bonus again.
But, I was wrong! And I’m now again a Sapphire Preferred cardholder working on earning this highly valuable bonus!
2) Waiting too long and missing the highest-ever bonus
You want to be deliberate with your timing and apply when the offer is as high as possible.
The current 100,000-point offer is tied for the highest we’ve ever seen, and Chase has confirmed this bonus is ending soon. If you’ve decided this card belongs in your wallet, waiting too long could easily cost you hundreds of dollars in bonus value.
3) Coming up short on the spending requirement and not earning the bonus
Imagine putting $5,000 on your new card only to realize you missed the bonus because a few purchases didn’t actually count. That’s a mistake you can avoid by checking which transactions don’t qualify.
The good news? Chase includes a welcome bonus tracker in your account so you can monitor your progress.
4) Not understanding your perks and redemption options
Sure, you can redeem points at a fixed value through Chase Travel℠ — that’s where most people end up when they click “Travel.”
But the real magic is the “Transfer points to partners” button.
It lets you move your points to Chase’s excellent lineup of airline and hotel partners, often unlocking far more value. Think lie-flat seats across the Atlantic or luxury beachfront resorts.
The Sapphire Preferred has earned its reputation as one of the best beginner-friendly travel rewards cards for a reason. Avoid these common mistakes, and you’ll be well on your way to making the most of both the rare 100,000-point welcome bonus and the card’s ongoing benefits.
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