How I’m Using Chase Sapphire Preferred’s 100K Bonus Offer for 5 Nights in Rome

The Chase Sapphire Preferred^® Card, one of our favorite cards on the market, has gotten a significant overhaul. To accompany the refresh, the card also has a new welcome bonus offer that’s the highest we’ve ever seen on this card.

Despite a couple of negative changes, the refresh adds value to this already-great credit card, and eligible new cardholders have the rare opportunity to earn 100,000 Ultimate Rewards points after meeting the minimum spending threshold.

One of our favorite uses for Ultimate Rewards points is redeeming them for World of Hyatt hotel stays, such as a 5-night stay in a major European capital for just 100,000 points or less. Here’s how.

Chase Sapphire Preferred Card’s 100K-Point Welcome Offer

The Chase Sapphire Preferred card is offering new applicants the chance to earn 100,000 bonus Ultimate Rewards points:

• Earn 75,000 100,000 points after spending $5,000 on purchases in the first 3 months.

This is the highest we’ve ever seen on the card, according to the Chase Sapphire Preferred card’s welcome offer history. Most recently, it’s offered 75,000 points.

LIMITED-TIME OFFER

Terms Apply / Rates & Fees

Chase Sapphire Preferred^® Card

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

A fantastic travel card with a great welcome offer, good benefits, and perks for a moderate annual fee.

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Chase Sapphire Preferred^® Card

A fantastic travel card with a great welcome offer, good benefits, and perks for a moderate annual fee.

Welcome Offer

Earn 75,000 100,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.

75,000 100,000 points

UP's Offer Valuation*:

$2,000

Annual Fee

$95

APR

19.24% - 27.49% Variable

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^® Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Good to Excellent

Why We Like This Card

The Chase Sapphire Preferred^® card is one of the best travel rewards cards on the market. Its bonus categories include travel, dining, online grocery purchases, gas, EV charging, vacation homes, and streaming services, which gives you the opportunity to earn lots of bonus points on these purchases.

Additionally, it offers flexible point redemption options, no foreign transaction fees, and excellent travel insurance coverage including primary car rental insurance and emergency evacuation. With benefits like these, it’s easy to see why this card is an excellent choice for any traveler.

Pros & Cons

Pros

• 5x points on all travel booked via the Chase Travel portal
• 3x points on dining purchases, online grocery purchases (excluding Walmart, Target, and wholesale clubs), gas, EV charging, vacation homes (such as Airbnb and Vrbo), and select streaming services
• 2x points on all other travel worldwide

Cons

• $95 annual fee
• No elite benefits like airport lounge access or hotel elite status

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Card Highlights

• Earn 100,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
• Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, 3x on vacation homes, 3x on gas & EV charging, 3x on top streaming services and online groceries (excluding Walmart, Target, and wholesale clubs), 2x on all other travel purchases, 1x on all other purchases
• Earn up to $100 in statement credits each account anniversary year for hotel stays through Chase Travel
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
• Get a year of complimentary Apple TV when activated by December 31, 2026 - a value of $156.
• Complimentary DashPass which unlocks $0 delivery fees & lower service fees for a min. of one year when you activate by 12/31/27. Plus, a $10 promo each month on non-restaurant orders.
• Receive one statement credit of up to $120 every four years as reimbursement for the application fee charged to your card for a Global Entry, TSA Precheck^® or NEXUS application.
• Transfer points to leading airline and hotel loyalty programs
• Member FDIC

Financial Snapshot

• APR: 19.24% - 27.49% Variable
• Foreign Transaction Fees: None

Rewards Center

Chase Ultimate Rewards

We value Chase Ultimate Rewards points at 2 cents each, meaning this 100,000-point bonus offer is worth $2,000. You can often get much more value for your points when you take advantage of Chase’s numerous airline and hotel transfer partners, as we’ll demonstrate below.

Chase Sapphire Preferred Card’s 2026 Refresh

Before we look at how you can use the Chase Sapphire Preferred card’s welcome bonus offer to book a 5-night stay in Europe, let’s run through the changes, because one of them has direct implications for redeeming the welcome bonus offer.

Chase added a number of new perks and benefits in this refresh, all without raising the existing $95 annual fee:

• Earn 3x points on gas, EV charging, and vacation homes, including Airbnb and Vrbo.
• Receive a $120 Global Entry, TSA PreCheck, or NEXUS credit every 4 years.
• Get a complimentary Apple TV subscription for 1 year when you activate it by December 31, 2026.
• Get a $100 Chase Travel hotel credit on your account anniversary (increased from $50).

These additions are on top of the card’s already strong earning structure of 5x points on Chase Travel purchases, 3x points on dining and select streaming services, 2x points on travel, and 1x points on all other eligible purchases.

However, there are also some negative changes. The 10% anniversary bonus benefit is now discontinued for new cardholders as of June 15, 2026. For existing cardmembers before this date, eligible purchases made through October 1, 2026, will continue to earn the 10% bonus, which will be awarded by January 31, 2027.

Chase is also devaluing World of Hyatt transfers from the current 1:1 ratio to a 4:3 ratio. This impacts new Chase Sapphire Preferred cardholders as of June 15, 2026, but is effective October 1, 2026, for existing cardholders, providing a few more months to transfer points at the better rate.

This is an unfortunate devaluation for cardholders, as transferring points to World of Hyatt to redeem at properties worldwide is one of our favorite uses of Ultimate Rewards points. But that doesn’t mean it’s unworkable.

Changes Affecting Hyatt Redemptions

For every 100,000 Ultimate Rewards points transferred, you’ll receive 75,000 World of Hyatt points if they’re coming from a Chase Sapphire Preferred card account. However, the transfer ratio remains 1:1 for cardholders with the Chase Sapphire Reserve^® and the Sapphire Reserve for Business℠.

Another factor is the recent World of Hyatt devaluation, which expanded the award chart from 3 to 5 pricing tiers and increased award rates at many properties.

But if you have your expectations calibrated properly, you can still make great redemptions. In fact, you can even stay in the heart of Rome, Italy, for 5 nights entirely with the 100,000-point welcome bonus offer from the Chase Sapphire Preferred card and still have points left over.

Redeeming 100,000 Points for 5 Nights in Europe

In the context of this welcome bonus offer, that means transferring the full 100,000 points will yield 75,000 World of Hyatt points. Despite Hyatt’s own significant devaluation, there are still ways to put these points to work and book multiple nights at properties in some of the most popular destinations.

Take, for example, Rome, the capital of Italy. It’s filled with ancient wonders and modern cosmopolitan charm that keeps visitors coming in droves. It’s a city you’ll need to spend multiple nights in to experience even a fraction of what it offers.

The good news is you can easily book 5 nights at a brand-new Hyatt property in the heart of the Eternal City. The Hyatt Regency Rome Central, which is now accepting reservations for September 1, 2026, and beyond, is a welcome addition to the Hyatt portfolio in the Italian capital.

As a Category 4 World of Hyatt property, it’s right in the sweet spot for Chase Sapphire Preferred card redemptions, even with the new 4:3 transfer ratio.

The magic number here is 75,000, as that’s how many World of Hyatt points you’ll receive for transferring 100,000 earned from a Chase Sapphire Preferred card. No matter what category the hotel you’re interested in is in, plan to keep the total for the stay to 75,000 points or fewer.

Fortunately, this is not hard to do — at least for now — at the Hyatt Regency Rome Central, which has plenty of dates available at Low and Lowest rates: 15,000 and 12,000 points per night, respectively. To book 5 nights at a Category 4 property, all 5 nights must be priced no higher than 15,000 points.

If you’re willing to travel at traditionally off-peak times, you should be able to find availability with relative ease, as shown in this snapshot of the hotel’s availability for November of this year.

In this example, the entire 5-night stay costs 60,000 World of Hyatt points, which would require transferring 80,000 Ultimate Rewards points from a Chase Sapphire Preferred card account, leaving 20,000 points to put towards a future redemption.

While the new 4:3 transfer ratio is certainly a tough pill to swallow, it’s still very possible to stretch your points for longer stays at Hyatt properties. If you’re a Chase Sapphire Preferred cardholder and still want to take advantage of the World of Hyatt transfer relationship to book multiple nights, target Category 4 or lower hotels.

You may have success with Category 5 properties, but you’ll need to be flexible with your travel plans and ready to book on dates when you can find the lowest rate availability.

Final Thoughts

It’s unfortunate that the Chase Sapphire Preferred card will no longer be able to transfer points to World of Hyatt at a 1:1 ratio. However, despite this negative change, it’s still possible to get solid value from transferring points and booking multiple-night stays in some of the world’s most popular destinations — there’s just a little more math involved.