How You Can Earn up to 205K Points with the Chase Sapphire Preferred®

Right now, you can bonus_miles_full with the *chase sapphire preferred*, .

That ties the biggest bonus we’ve ever seen on this card – and with an annual fee of only $95, it’s a tremendous offer every traveler should be considering. But you can (more than) double that sum by referring friends and family to the card after you get approved.

Even if you have (or had) the pricier *chase sapphire reserve* – but never the Preferred – this is a golden opportunity to rack up even more Chase points. By earning the bonus yourself, then spreading the love to friends and family, you can earn up to 205,000 points.

Here’s everything you need to know.

Read More: 10 Great Ways to Use Chase Ultimate Rewards Points

Step 1: Earn 100,000 Points with the Current Offer

If you don’t already have the Chase Sapphire Preferred, now’s the time to apply: Chase is currently offering 100,000 points after you spend $5,000 in the first three months. 

Those points are worth at least $1,000 toward travel when you redeem them through the Chase Travel℠ portal – if not much, much more by leaning on the array of Chase transfer partners.

But since you’ll earn at least 1 point per dollar on every dime you spend, that $5,000 you have to spend to earn the bonus will also earn you at least another 5,000 points. That means you’ll walk away with at least 105,000 points after meeting the minimum spending requirement.

On top of the big bonus, Chase recently made some subtle changes to the card, increasing the annual Chase Travel℠ hotel credit to $100, adding a credit of up to $120 for TSA PreCheck®, Global Entry, or NEXUS, throwing in a year of complimentary Apple TV (must enroll by Dec. 31, 2026), and adding new bonus categories for gas (and EV charging) and vacation rentals. This makes one of the most popular travel cards an even better value proposition … and that’s before you even consider the current bonus offer. 

Learn more about the *csp*.

 
Step 2: Refer Friends & Family to Rack Up More Points

Once you have the card, you can share your referral link with friends and family members, which can take things to the next level.

Once you’ve been approved for the Sapphire Preferred, you can generate your own personal referral link pretty much immediately … even if your new card hasn’t actually arrived in the mail yet. In addition to sharing a 100,000-point bonus with friends or family, there’s something in it for you, too.

Here’s the breakdown:

• You’ll earn 10,000 points for every person who signs up using your link and gets approved.
• You can refer up to ten people for a maximum of 100,000 points from referrals.

Assuming you can hit that max, you’ll add those 100,000 referral points to the 100,000 you earned from the welcome bonus and required spending, bringing your total haul to 205,000 points.

To get your referral link, just head to Chase’s Refer a Friend page and log into your account. Even if you just got approved and don’t have your card yet, you should still be able to access your link.

Already Have a Chase Sapphire Card? 

Good news: If you already hold the Sapphire Preferred or even the higher-tier *chase sapphire reserve*, you can still earn referral bonuses by sharing your link.

So even if you aren’t eligible to earn the 100,000-point bonus yourself, you can still earn up to 100,000 points just by referring others.

A Heads-Up on Taxes

Here’s an important detail: Sign-up bonuses are not taxable because they’re considered rebates on your spending. And since you have to spend $5,000 in three months to earn the 100,000-point bonus, there are no tax implications for earning those points. 

However, referral bonuses are treated as income, and you’ll have to pay taxes on them next year.

Chase values referral points at one cent apiece, so if you earn the full 100,000 points through referrals, you’ll get a 1099-MISC for $1,000 in income early next year, come tax time. If you only complete five referrals and earn 50,000 points, you’ll be on the hook for paying taxes on $500 of income. 

It’s not ideal, but the value you’ll get from those points far outweighs the tax hit. Here’s how Chase discloses your tax responsibility in its referral terms:

The value of this offer or program may result in miscellaneous income received from Chase and we may be required to send you, and file with the IRS, a Form 1099-MISC (Miscellaneous Information) or Form 1042-S (Foreign Person’s U.S. Source Income Subject to Withholding) for the year in which you participate and are awarded the benefits of the offer/program.

Bottom Line

With a 100,000-point sign-up bonus and a low $95 annual fee, this is already a great offer. But by sharing referral links, you can double that haul of points. 

If you’re thinking about applying — or you’re already approved and ready to share the love — now’s the time to act.

Learn more about the *csp*.