This is it — TPG just got word from Chase that the limited-time offer on the Chase Sapphire Preferred® Card (see rates and fees) is officially ending soon.

It’s only July, but we’re already comfortable calling this one of the best credit card offers of 2026. So when Chase told TPG the 100,000-point offer was ending soon, we wanted to make sure you knew.

Limited-time offer: Earn 100,000 bonus points after spending $5,000 on purchases in the first three months from account opening with the Chase Sapphire Preferred.

If you’ve been thinking about applying, this is your sign not to wait much longer.

Why the Sapphire Preferred 100,000-point offer is a great deal

We’ve only seen the Sapphire Preferred welcome offer reach 100,000 bonus points three times in the card’s 16-year history: first in 2021, then in 2025 and now.

If history is any guide, this may be your last chance to earn 100,000 points on the Sapphire Preferred for quite some time.

That makes this a very rare opportunity to earn a bonus that TPG values at $2,050 per our July 2026 valuations.

One of the reasons this offer stands out is that welcome bonuses of this size are usually reserved for premium cards with annual fees of $500 to nearly $1,000.

In other words, the Sapphire Preferred is offering a premium-card-sized welcome bonus while charging just a $95 annual fee.

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The bonus isn’t the only reason we recommend the Sapphire Preferred.

With the card’s recently enhanced benefits, valuable travel protections, strong bonus-earning categories and the flexibility of Chase Ultimate Rewards points, the limited-time 100,000-point offer is just another factor as to why this card would be a great addition to anyone’s wallet.

Related: Value simplicity? Why the Chase Sapphire Preferred is now the only card you need

When does the Chase Sapphire Preferred 100,000-point offer end?

At this time, Chase has shared with TPG that the limited-time 100,000-point bonus offer is “ending soon,” but hasn’t announced a specific end date.

It’s possible Chase will announce an official expiration date before the offer disappears, though that isn’t guaranteed.

What we do know is that the last time the Sapphire Preferred reached a 100,000-point welcome offer, it lasted for about six weeks. To note, this year’s offer launched on June 15.

While there’s no exact public date for when the offer will end, the “ending soon” announcement is a strong indication that the application window is likely closing soon.

Related: The Chase Sapphire Preferred’s 100,000-point offer is back. Why I wouldn’t wait

Who is eligible for this 100,000-point Sapphire offer?

One of the biggest changes Chase made this year was updating its Sapphire eligibility rules.

It’s now possible to hold both the Chase Sapphire Reserve® (see rates and fees) and the Chase Sapphire Preferred at the same time.

Therefore, carrying the Sapphire Reserve no longer automatically prevents you from earning the Sapphire Preferred welcome bonus. (And here’s why it may make sense to hold both cards)

While each situation is unique, you’re generally eligible for the Sapphire Preferred’s 100,000-point offer if you:

Related: Am I eligible for the Chase Sapphire Preferred’s 100,000-point bonus?

How to use 100,000 Chase Ultimate Rewards points

How you use 100,000 points depends on how you like to travel.

If you’re looking to maximize every point, you can transfer Chase Ultimate Rewards points to one of Chase’s 14 airline or hotel partners and book experiences that could otherwise cost thousands of dollars if you paid cash.

Or, if you’d rather keep things simple, you can redeem your points through Chase Travel℠ for flights, hotels, rental cars and more, or potentially stretch 100,000 points into up to $1,500 in travel by booking eligible Points Boost hotels.

Here are a few examples of what we’ve recently found bookable with 100,000 Chase points or less:

• Book lie-flat business class to Europe from 60,000 points by transferring to Air France-KLM Flying Blue or Air Canada Aeroplan.
• Book eligible Points Boost hotels, which vary, but recently included The Ritz-Carlton O’ahu, Turtle Bay, and stretch your 100,000-point bonus into up to $1,500 in travel through Chase Travel.
• Book several nights at a Hyatt hotel by transferring points to World of Hyatt.
• Book multiple domestic economy flights by transferring points to partners such as United Airlines or Southwest Airlines, with many routes starting at just 5,000 to 15,000 points or miles.

Related: 19 incredible ways to use 100k Chase Ultimate Rewards points: From first-class flights to all-inclusive getaways

Park Hyatt Los Cabos. CARLY HELFAND/THE POINTS GUY

What will the Sapphire Preferred offer be after the limited-time bonus ends?

We don’t know exactly what Chase will offer on the Sapphire Preferred once the 100,000-point welcome bonus ends.

However, before this limited-time offer launched on June 15, the Sapphire Preferred was offering 75,000 bonus points after meeting the spending requirement (no longer available).

If the offer returns to that level, that’s a difference of 25,000 points — worth about $512 based on TPG’s July 2026 valuations. In other words, waiting could mean leaving tens of thousands of points on the table.

That’s the equivalent of giving up enough points for several domestic flights, multiple Hyatt hotel nights or a one-way flight to Europe with some transfer partners.

Of course, Chase could choose a different offer altogether. Historically, based on what we’ve seen, replacement offers have been less valuable than this 100,000-point bonus.

Want the full rundown? Read our complete Chase Sapphire Preferred review.

Bottom line

If you’ve been considering the Chase Sapphire Preferred’s limited-time offer for the last few weeks, now is probably the time to make a decision.

Chase has officially confirmed that the limited-time 100,000-point welcome offer is ending soon. And while we don’t know the official end date — or what offer will replace it — we do know this is only the third time in the card’s 17-year history that we’ve seen this welcome bonus go this high.

In previous years, TPG readers reached out after missing the 100,000-point bonus application deadline. Unfortunately, once the offer was gone, there wasn’t anything we could do to help them get it back. We’d hate to see that happen again.

If you’re eligible, feel comfortable meeting the spending requirement and have been thinking about adding the Sapphire Preferred to your wallet, this is one of those rare opportunities that’s worth taking seriously before it ends.

Limited-time offer on the Chase Sapphire Preferred: Earn 100,000 bonus points after spending $5,000 on purchases in the first three months from account opening.