For a limited time, Chase has increased the welcome bonus on its Sapphire Reserve and Preferred cards to 75,000 bonus points.

The Chase Sapphire Preferred® Card is a must-mention when discussing the top travel rewards credit cards. Similarly, any discussion about the best premium credit cards will inevitably involve the Chase Sapphire Reserve® and its benefits.

Currently, both cards are offering increased welcome bonuses that require more attention. Upon approval, you can earn 75,000 bonus points after spending $4,000 on purchases within the first three months of account opening. These bonuses are 15,000 points more than the previous offers, providing an additional $187 to $225 in travel value.

Chase Sapphire Preferred and Sapphire Reserve bonus offers

With 75,000 Chase Ultimate Rewards® points, you can redeem for cash back or gift cards, which provide a value of one cent per point, resulting in a minimum worth of $750.

When using points to pay for travel booked through Chase Travel℠, both the Sapphire Preferred and Sapphire Reserve cards receive a boost in value. With the Sapphire Preferred, points are worth 1.25 cents each, while with the Sapphire Reserve, points are worth 1.5 cents each. As a result, 75,000 points can be used to book $937.50 in travel with the Sapphire Preferred, and $1,125 in travel with the Sapphire Reserve.

If you only plan on redeeming your points for travel booked through Chase, these offers are among the best intro bonuses currently available. However, you can unlock even more value with Chase's travel partners. With these two cards, you can transfer Chase points at a 1:1 ratio to 14 airline and hotel partners, including Hyatt, Aeroplan, Emirates, Southwest and Virgin Atlantic.

Booking a one-way business-class award between North America and Europe on partner flights up to 6,000 miles in flight distance using Aeroplan points costs only 60,000 to 70,000 points. This means you can get a great deal on flights from the U.S. to a large portion of Europe on airlines such as United, Lufthansa, and Swiss. These flights typically cost thousands of dollars, so this is an excellent way to get a lot of value from your points.

Which card makes sense for you?

Both cards offer 75,000 bonus points, but your choice will depend on the annual fee and benefits. The Sapphire Preferred has a lower annual fee of $95 compared to the Sapphire Reserve's $550, but the Reserve card's benefits are more valuable.

If you're always on the move, the Sapphire Reserve is designed for frequent travelers and provides unlimited complimentary access to Priority Pass airport lounges. Additionally, it offers an annual travel credit of up to $300 and a Global Entry/TSA PreCheck application fee credit worth up to $100. In contrast, the Sapphire Preferred offers an annual Chase Travel hotel credit of up to $50 when booking hotels through Chase Travel.

Both cards provide extensive shopping and purchase protections, including trip delay reimbursement, primary rental car insurance, and much more.

The Reserve card offers more value in terms of trip delay insurance and purchase insurance compared to the Preferred card. The Reserve card's trip delay insurance kicks in after six hours or an overnight stay, while the Preferred card's coverage applies after 12 hours or an overnight stay is required. The Reserve card's purchase insurance covers items for up to $10,000 per claim, while the Preferred card's purchase protection only reimburses you for up to $500 per claim.

Who's eligible for these offers?

To be eligible for either the Sapphire Preferred or Sapphire Reserve card, you cannot currently possess any version of the Sapphire card. If you have a Sapphire Preferred, you are not eligible for a Sapphire Reserve, and vice versa. Additionally, you cannot have earned a welcome bonus from any Sapphire card in the previous 48 months. Chase also follows an unofficial 5/24 rule, meaning if you have opened five or more credit cards from any bank in the past 24 months, you are less likely to be approved for a new Chase credit card.

Alternative cards

The Capital One Venture Rewards Credit Card is a valuable substitute for the Chase Sapphire Preferred if you can't obtain or don't desire it. It has the same annual fee of $95 and a comparable intro bonus. The Venture Rewards Card offers at least 2X miles on every purchase, and you can transfer Capital One miles to a wide range of airline and hotel partners.

The Platinum Card from American Express offers numerous exceptional benefits, including access to transfer partners, but it also comes with a high annual fee of $695 (see rates and fees). In comparison, the Sapphire Reserve from Chase offers a larger welcome offer and more robust airport lounge access, as well as a greater variety of statement credit offers worth $1,500+. However, to earn the Platinum's welcome bonus, you must meet a larger minimum spending requirement than with the Reserve, and many of the statement credits are tied to specific brands or are more complicated to redeem. If you prefer a simpler option with a lower upfront cost, the Sapphire Reserve may be a better choice.

Bottom line

The Chase Sapphire Preferred® Card and the Chase Sapphire Reserve have temporarily increased their intro bonuses, making them excellent options for travelers. Apply now to take advantage of these limited-time offers.

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To learn about the rates and fees for the Platinum Card® from American Express, please click here.