The Chase Sapphire Preferred® Card and Chase Sapphire Reserve® are among the most popular travel rewards credit cards on the market. To ensure they continue to be popular, Chase has continually tweaked their features and functions over the years. This page tracks some of the most significant changes, including rewards rates, benefits, and bonus offers. Expired offers are marked.
First, let’s take a look at what features the card currently offers:
Chase Sapphire Preferred Card
Chase Sapphire Reserve®
Signup Bonus
Earn 75,000 bonus points after you spend $4,000 in purchases in the first 3 months from account opening. Earn over $900 in bonus points on purchases made through Chase Travel℠.
Earn 75,000 bonus points after you spend $4,000 in purchases in the first 3 months from account opening. Redeem for $1,125 in travel through Chase Travel℠.
Awards
- Earn 5 points for every $1 spent on travel through Chase.
- Earn 3 points for every $1 spent on dining (including eligible delivery services and takeout).
- Earn 3 points for every $1 spent on select streaming services.
- Earn 3 points per $1 spent on online grocery purchases (excluding Target, Walmart and Wholesale Clubs).
- Earn 2 points per $1 spent on travel, not redeemable through Chase.
- Earn 1 point per $1 spent on other purchases.
- By March 2025: Earn 5 points for every $1 spent on Lyft rides.
Each point is worth 1.25 cents when redeemed for travel through Chase.
- Chase earns 10 points for every $1 spent on dining purchases.
- Earn 10 points per dollar spent on hotel stays and car rentals booked through Chase.
- Earn 5 points per $1 redeemed for air travel through Chase.
- Earn 3 points per $1 spent on non-Chase redemption travel and dining.
- Earn 1 point per $1 spent on other purchases.
- By March 2025: Earn 10 points for every $1 spent on Lyft rides.
Each point is worth 1.5 cents when redeemed for travel through Chase.
Other Benefits
- Through Chase Bank, you can get a $50 credit per year on hotel stays.
- On each account anniversary, cardholders earn bonus points equal to 10% of their total purchases from the previous year.
- 1:1 connecting partners including United, Southwest, JetBlue, Marriott and Hyatt.
- A $300 credit is automatically applied toward travel expenses each year.
- 1:1 transfer partners (same as the Chase Sapphire Preferred® Card).
- Get access to over 1,000 airport lounges, including Chase Sapphire Lounge, with Priority Access.
- The NEXUS, Global Entry or TSA PreCheck application fee on your card can be up to $100 every four years.
- Access the Occupied by Sapphire restaurant reservations feature.
Over the years, Chase Sapphire Reserve®
February 2023: New Peloton promotion
From February 1, 2023, to March 31, 2025, Chase Sapphire Reserve® holders can earn 10 points for every $1 spent on Peloton, up to a maximum of 50,000 points. Eligible purchases include $250 or more in equipment or accessories, such as Peloton bikes, treadmills and rowing machines, and the Peloton Guide, a strength-training program that uses a camera to help you get in shape. Purchases must be made directly through Peloton and must be paid in full at the time of purchase. (This does not earn extra points for Affirm’s financial tools.) Apparel and app memberships are also not eligible.
November 2022: Lyft Pink All Access
Chase Sapphire Reserve® cardholders previously received a free year of membership in the Lyft Rose loyalty program. As of November 15, 2022, that offer has been revised. Cardholders can enjoy a two-year membership and a 50% discount on the third year of Lyft Pink All Access membership. All Access is the highest level of membership Lyft offers and retails for $199. Included:
- Fast downloads and free priority updates.
- 10% off all deluxe rides.
- Cancel up to three rides per month for free.
- Get up to four free roadside assistance benefits for your vehicle each year.
- Free SIXT car rental upgrade.
- Unlimited free 45-minute classic bike rides.
- There will be free unlimited e-bikes and scooters available, with discounted rates also available.
- It can carry 3 bicycle or motorcycle passengers per year.
The promotion, which launched in 2020 and has been extended through March 2025, will still earn cardholders 10 points per dollar spent on Lyft rides.
October 2022: 80,000 bonus points
Expired Offer: In mid-October 2022, the Chase Sapphire Reserve® is offering an 80,000-point sign-up bonus, valid until December 1, 2022. This is the largest sign-up bonus on this card since the 100,000-point Bonus introduced in 2016 (for loyal fans).
August 2021: Breaking changes
On August 16, 2021, Chase made the biggest set of changes to the Chase Sapphire Reserve® in the five years since the card launched. These changes include new bonus categories:
- Chase earns 10 points for every $1 spent on dining purchases.
- Earn 10 points for hotel stays and cars booked through Chase.
- Earn 5 points per dollar when booking airfare through Chase.
The card still earns 3 points per dollar on dining and non-Chase purchases, and 1 point per dollar on other purchases. The card’s other benefits remain largely the same, and the annual fee remains $550.
March 2021: Big bonus is being implemented.
Offer expired: The sign-up bonus for the Chase Sapphire Reserve was phased out in March 2021. The offer: Earn 60,000 bonus points after spending $4,000 in the first three months from account opening. That was 10,000 points higher than the regular bonus at the time.
Offer ends: From March 2021 through March 2022, Chase Sapphire Reserve® will earn 10 points on every Peloton bike, treadmill and accessories purchase over $1,800, up to 50,000 points per $1 spent.
February 2021: Chase Dining 10X
Offer expiring soon: During a limited-time promotion that began in early 2021, Chase Sapphire Reserve® holders could earn 10 points per dollar spent on Chase Dining purchases (including checkouts and prepaid reservations), up to $500. The promotion ended on June 30, 2021, but the 10x bonus on Chase Dining purchases later became a standard benefit for the Chase Sapphire Reserve®. Additionally, through September 30, 2021, Chase Sapphire Reserve® holders can redeem points on Chase Dining purchases for 1.5 cents per point.
November 2020: Higher Grocery Rewards
Offer expired: As the Covid-19 outbreak slows, Chase has added another round of extra grocery rewards. From November 1, 2020 to April 30, 2021, the Chase Sapphire Reserve® will earn 3 points per $1 spent at grocery stores, up from the usual 1 point.
October 2020: Peloton Promotion
An offer that never expires: Starting in October 2020 and ending in June 2022, Chase Sapphire Reserve cardholders can earn up to $120 in statement credits on Peloton Digital and All-Access memberships. Currently, a Digital membership costs about $13 per month; an All-Access membership costs $39 per month.
July 2020: More COVID-19 Benefits
Expired Offer: From July 1 to September 30, 2020, Chase Sapphire Reserve® cardholders can earn extra rewards for increased spending during the COVID-19 pandemic.
- Instacart: Earn 5 points for every $1 spent on Instacart delivery and takeout orders, up to $3,000 in purchases during the three-month promotional period.
- Gas Stations: Earn 5 points for every $1 spent, up to $1,500 in gas station purchases within three months.
- Streaming: Earn 10 points per dollar spent on select streaming services like Spotify and Netflix during the promotion, up to $1,500.
May 2020: Grocery Shopping Rewards
Offer expired: As the coronavirus pandemic spreads and Americans are quarantined in their homes, Chase has added grocery rewards to its underutilized travel credit card. From May 1 to June 30, 2020, Chase Sapphire Reserve cardholders can earn 5 points per dollar spent at grocery stores, up to $1,500 per month.
May 2020: Added “Pay Yourself Back.”
Offer expired: With most people traveling for the holidays due to the coronavirus pandemic, Chase is giving cardholders new options to redeem statement credits for certain purchases. Specifically, Chase Sapphire Reserve® cardholders can earn the same 1.5 cents per point value as they redeem points for travel bookings. Eligible categories for the Pay Yourself program include grocery stores and gas stations. As the program has evolved over time, categories and redemption options have changed. Pay Yourself Get the latest information here.
January 2020: Annual fee increase and new benefits
In January 2020, the annual fee for the Chase Sapphire Reserve® card increased from $450 to $550, the first increase since the card was launched in 2016. The higher fee for new applications took effect on January 12. Cardholders will be charged the new fee at their first renewal after April 1, 2020. At the same time, Chase has added two new benefits for Chase Sapphire Reserve® cardholders.
- Lyft: Chase announced that cardholders will earn 10 points per dollar spent on Lyft rides, a significant increase from the 3 points per dollar cardholders earn on other ride services. (The 10x promotion will last through March 2025.) Cardholders will also get a free year of the ride-sharing company’s paid membership program, Lyft Pink, which includes discounts on rides, priority pickup and drop-off spots, and multiple free bike and scooter rentals. (The Lyft Pink offer has expired.)
- DoorDash: Chase also announced that Chase Sapphire Reserve® cardholders will receive a $60 statement credit in 2020 and 2021, for a total of $120, plus a one-year DashPass subscription. (This offer has expired.)
March 2019: Luxury Hotel Partnerships
Chase announced that it has partnered with SBA to offer benefits to Chase Sapphire Reserve cardholders staying at select SBE luxury hotels, including those in the Bahamas, Istanbul, Miami and Las Vegas. Cardholders who sign up with the Chase Sapphire Reserve card through SBE’s promotional booking page may be eligible for certain benefits, including: the fourth night free for four consecutive nights; a $30 hotel credit per room that can be used toward food and beverage purchases; additional room upgrades (if available); daily continental breakfast for two; free Wi-Fi; and late checkout (if available).
August 2018: Perks fixed (but not well)
In May 2018, Chase announced three important changes to some of the signature benefits of the Chase Sapphire Reserve® card. These changes will take effect on August 26.
- $300 Travel Credit: No points will be earned on purchases that qualify for this credit. In other words, cardholders will automatically earn statement credits on their first $300 in travel purchases each year. Once you reach $300 in purchases, you will earn 3 points per dollar spent. Previously, you earned 3x points on all travel purchases – including purchases redeemed with automatic points.
- Price Protection: Chase has discontinued this benefit, which refunded a portion of the purchase price when an item you purchased sold without prior notice.
- Advance Pass: Cardholders who have activated and used the card’s airport lounge benefits (select prepaid membership) can bring up to two guests per membership card. Previously, there was no limit. Cardholders will be charged $27 for each additional guest.
November 2017: Digital First Access
Chase Sapphire Reserve® cardholders who have activated the card’s prepaid Select membership can now set up a digital membership card on their phone. This will reduce the chances of them arriving at an airport lounge forgetting their membership card.
August 2017: One Sapphire Card per person
In a policy change that took effect on August 27, 2017, Chase banned consumers from holding more than one Sapphire card. Previously, cardholders could hold more than one Sapphire card, but the new policy closed the door to people holding just one Sapphire card. So if you only have one Chase Sapphire Reserve card, you won’t be approved for the Chase Sapphire Preferred card, and vice versa.
May 2017: The travel points calendar has been redesigned.
The $300 travel credit on the Chase Sapphire Reserve® was initially valid on a calendar year basis. The first $300 in travel purchases each year would be redeemed as a statement credit. This created an opportunity for opportunists and optimizers: apply for the card at the end of the year, get the $300 credit, wait a few weeks for the credit to take effect, and then get another $300 credit. As of May 21, 2017, Chase has closed incoming applications. For these cardholders, the credit is valid on a “cardholder year” basis. If you open your account on October 12, the credit resets every year.
May 2017: Mortgage Credit
Offer Expired: Chase Sapphire Reserve® holders who completed a new loan with Chase between May and August 2017 were eligible to receive 100,000 bonus points. This offer only applies to new loans – not refinances or home equity loans. Offer expires August 6, 2017.
January 2017: Huge bonus halved
Offer expired: Five months after the Chase Sapphire Reserve® launched with a 100,000-point bonus offer (worth $1,500 when redeemed for travel booked through Chase), it’s now getting a bit of a price cut. The bonus offer drops to 50,000 points for online applications on January 12, 2017. The 100,000-point offer can be picked up in person at a Chase Bank branch for a limited time — through March 11.
August 2016: Sapphire Reserve Launched
Offer expired: The launch of Chase’s premium travel credit card was easily the biggest credit card news of 2016. It launched with an automatic $300 travel credit (with an initial $450 annual fee) and a 100,000 point bonus. It’s included for the rest of the next few years. The card was so popular that Chess temporarily ran out of the special metal it was made from. Chase CEO Jamie Dimon said in December that strong demand for the card and the sign-up bonus it paid out could cause Chase’s fourth-quarter 2016 profits to fall by $200 million to $300 million, according to a Bloomberg article.
Over the years, the Chase Sapphire Preferred® Card
April 2023: 80,000 bonus points
Offer expiration date: For the second consecutive April, the Chase Sapphire Preferred® Card will offer an 80,000-point sign-up bonus, valid through April 2023. Offer expires May 25, 2023.
February 2023: New Peloton promotion
From February 1, 2023, to March 31, 2025, Chase Sapphire Preferred® cardholders can earn 5 points for every $1 spent on Peloton, up to 25,000 points. Qualifying purchases include $250 or more in merchandise or accessories, such as Peloton bikes, treadmills and rowing machines, and the Peloton Guide, a strength-training program that uses a camera to help you get in shape. Purchases must be made directly through Peloton and must be paid in full at the time of purchase. (This does not earn extra points for Affirm’s financial tools.) Apparel and app memberships are also not eligible.
April 2022: 80,000 bonus points
Offer expired: The Chase Sapphire Preferred® Card’s sign-up bonus increases to 80,000 points in mid-April 2022, then reverts to its previous amount (60,000 points) at the end of May 2022.
August 2021: Breaking changes
On August 16, 2021, the Chase Sapphire Preferred® Card received its biggest update to ongoing benefits in years. These new bonus categories include:
- Earn 5 points per dollar on all travel expenses booked through Chase.
- Earn 3 points per $1 spent on dining (up from 2 points per $1 spent).
- Earn 3 points for every $1 spent.
- Earn 3 points per dollar on online grocery purchases (excluding Target, Walmart and wholesale clubs).
This card continues to earn 2 points per dollar on non-Chase purchases and 1 point per dollar on other purchases. This card adds two important benefits:
- Get a $50 credit each year on hotel stays purchased through Chase.
- On each account anniversary, cardholders earn bonus points equal to 10% of their total purchases from the previous year.
The card’s other benefits remain largely unchanged, and the annual fee remains $95.
June 2021: 100,000 points reward sets a new record.
Offer expires: The Chase Sapphire Preferred® Card has the best offer, valid until June 4, 2021. For a limited time, cardholders can earn 100,000 bonus points after spending $4,000 in the first three months. That’s an increase of 20,000 points over the previous special offer and 40,000 points over the regular offer at the time.
March 2021: Big bonus is being implemented.
Expired offer: The Chase Sapphire Preferred® Card’s sign-up bonus got a big boost in March 2021. The offer: Earn 80,000 bonus points after spending $4,000 in the first three months from account opening. That was 20,000 points higher than the regular bonus at the time. The $50 grocery credit added in January 2021 was available to new cardholders (although it has since expired).
Offer ends: From March 2021 through March 2022, the Chase Sapphire Preferred® Card will earn 5 points for $1 on every purchase of Peloton bikes, treadmills and accessories over $1,800, up to 25,000 points.
February 2021: Chase Dining 10X
Expired Offer: For a limited time starting in early 2021, Chase Sapphire Preferred® cardholders can earn 10 points per $1 spent (including checkouts and prepaid reservations), up to $500. Promotion ends June 30, 2021. Additionally, through September 30, 2021, Chase Sapphire Preferred® cardholders can redeem Chase Dining points for 1.25 cents per point.
January 2021: $50 Grocery Credit
Expired offer: As COVID-19 has significantly reduced travel, to encourage people to apply for a travel credit card, the Chase Sapphire Preferred® Card is offering a $50 grocery bill credit to new cardholders. The credit is valid for 12 months from account opening date and has no activation requirements or spending limits.
November 2020: Higher Grocery Rewards
Offer expired: Chase has added another round of extra grocery rewards as Covid-19 outbreaks slow. From November 1, 2020 to April 30, 2021, the Chase Sapphire Preferred® Card will earn 2 points per $1 spent on groceries, up from the usual 1 point.
October 2020: Peloton Promotion
Expiring offer: Starting in October 2020 and ending in June 2022, Chase Sapphire Preferred® cardholders can earn up to $60 in statement credits on Peloton Digital and All-Access memberships. Currently, a Digital membership costs about $13 per month; an All-Access membership costs $39 per month.
September 2020: 80,000 bonus points
Offer expired: Chase Bank temporarily boosted the Chase Sapphire Preferred card’s bonus offer starting September 15, 2020. Cardholders could earn 80,000 bonus points after spending $4,000 in the first three months, up from the standard 60,000-point offer at the time. The offer ended a few months later.
July 2020: More COVID-19 Benefits
Expired offer: From July 1 to September 30, 2020, Chase Sapphire Preferred® cardholders can earn extra rewards for increased spending during the COVID-19 pandemic.
- Instacart: Earn 3 points for every $1 spent on Instacart delivery and takeout orders, up to $3,000 in purchases during the three-month promotional period.
- Gas Stations: Earn 3 points for every $1 spent, up to $1,500 in gas station purchases in three months.
- Streaming: Earn 5 points per dollar spent on select streaming services like Spotify and Netflix during the promotion, up to $1,500.
May 2020: Get extra rewards on your grocery purchases
Offer expired: As the Covid-19 pandemic spreads and Americans are quarantined at home, Chase is adding grocery rewards to its underutilized travel credit card. From May 1 to June 30, 2020, Chase Sapphire Preferred® cardholders can earn 3 points per $1 spent at grocery stores, up to $1,500 per month.
May 2020: Added “Pay Yourself Back.”
Offer expired: With most travel on hold due to Covid-19, Chase is giving cardholders a new option to redeem points for statement credits on certain purchases. Specifically, Chase Sapphire Preferred® cardholders can earn the same 1.25 cents per point value as points redeemed for travel bookings. Eligible categories for the Pay Yourself program include grocery stores and gas stations. As the program has evolved over time, categories and redemption options have changed. Pay yourself Get the latest information here.
January 2020: Earn 5x points on Lyft rides
Chase has announced that many of its credit cards will start offering extra rewards on rides. Chase Sapphire Preferred® cardholders will earn 5 points for every $1 spent on Lyft. The deadline for this promotion has been extended and is now valid through March 2025.
March 2019: Large bonus, no exemption.
Expired Offer: On March 19, 2018, Chase temporarily increased the sign-up bonus for the Chase Sapphire Preferred® Card to 60,000 points if you met the $4,000 spending requirement in the first three months of account opening. That was 10,000 points higher than the standard discount at the time. Keep in mind that points are worth 1.25 cents when redeemed for travel booked through Chase, which adds an extra $125 to the bonus. However, at the same time, Chase announced that the annual fee for the Chase Sapphire Preferred® Card (which was $95 at the time) would not be waived in the first year. So the net result was a $35 price increase for new cardholders.
September 2018: Bonuses for approved users were cancelled.
Chase Sapphire Preferred® cardholders could earn 5,000 points by adding an authorized user and having that user make a qualifying purchase. As of September 11, 2018, this possibility has been removed.
May 2018: Biggest Bonus Offer Yet
Offer expired: In May 2018, the Chase Sapphire Preferred® Card launched a limited-time offer that was the card’s largest open sign-up bonus ever. The offer was only available on the Chase website and not on marketplaces like NerdWallet. New cardholders could earn up to 80,000 points, split into two categories:
- Earn 50,000 bonus points after spending $4,000 in purchases within three months of account opening. This part is similar to the regular bonus on the card at the time.
- Earn an additional 30,000 bonus points based on total purchases in the first year. The amount a cardholder spends depends on the offer on the Chase website. In some cases, it’s $20,000 in purchases; in others, it’s $30,000 in purchases.
August 2017: One Sapphire Card per person
In a policy change that took effect on August 27, 2017, Chase banned consumers from holding more than one Sapphire card. Previously, cardholders could hold more than one Sapphire card, but the new policy closed the door to people holding just one Sapphire card. So if you only have the Chase Sapphire Preferred® card, you won’t be approved for the Chase Sapphire Reserve® card, and vice versa.
May 2017: Mortgage Credit Bonus
Offer Expired: Chase Sapphire Preferred® cardholders who complete a new mortgage with Chase between May and August 2017 are eligible to receive 100,000 bonus points. This offer is valid for new loans only – not refinances or home equity loans. Offer expires August 6, 2017.
