Overview
- Chase is promoting a record 150,000-point welcome bonus on the Sapphire Reserve for spending $6,000 in three months while Southwest is offering 90,000 points on its Rapid Rewards Priority card for $3,000 in three months, with both offers reported in early June as limited-time promotions.
- The Sapphire Reserve’s $795 annual fee comes with multiple statement credits that issuers and bloggers say can offset the cost, including a $300 travel credit, $300 dining credit in biannual installments, up to $750 in hotel credits and other perks such as Lyft and DoorDash credits.
- Chase’s product combines high category earning rates — including 8x on purchases through Chase Travel, 5x on Lyft through 9/30/27, 4x on direct flight and hotel bookings and 3x on dining — plus access to Chase Sapphire Lounges and Priority Pass Select.
- The Southwest Priority offer is positioned as a near-complete path to a Companion Pass because the bonus and required spend count toward the 135,000 qualifying points threshold, and the card also includes benefits such as first checked bag free, preferred boarding and a $229 annual fee.
- Practical constraints matter: applicants must check issuer rules such as Chase’s 5/24 guideline and Sapphire-family bonus eligibility, verify current landing-page terms before applying, and weigh whether they can realize the embedded credits and transfer options to justify the fees.