Chase Ultimate Rewards Digest — 2026-05-24 to 2026-05-31

Transfer Bonuses

Last chance: Southwest, TAP Air Portugal, and Qantas transfer bonuses from Chase

• Source: Frequent Miler
• Link: Frequent Miler
• Ends: May 31, 2026
• What: Three transfer bonuses from Chase Ultimate Rewards to Southwest, TAP Air Portugal, and Qantas are ending this week.
• Why it matters: These are time-limited opportunities to get extra value when transferring Chase UR points to these partners.

Credit Card Sign-up Bonuses

Chase Sapphire Reserve: 150,000 points after $4,000 spend

• Source: Upgraded Points
• Link: Upgraded Points
• What: The Chase Sapphire Reserve is offering an all-time best welcome bonus of 150,000 Ultimate Rewards points after meeting the minimum spend requirement.
• Why it matters: This is the highest known offer on the Sapphire Reserve, worth at least $1,500 in cash back or potentially much more when transferred to travel partners.

Southwest consumer cards: Up to 90,000 Rapid Rewards points

• Source: Frequent Miler
• Link: Frequent Miler
• What: All three consumer Southwest Airlines Rapid Rewards credit cards now offer increased welcome bonuses of 80,000-90,000 points after spending $1,000-$3,000 within the first 3 months.
• Why it matters: These are elevated offers on co-branded Chase cards that can help earn a Southwest Companion Pass.

Referral Bonuses

Chase Ink / Sapphire Business Cards: 40,000 points per referral, up to 200,000 max per year

• Source: Frequent Miler
• Link: Frequent Miler
• What: Chase has increased the yearly referral earning limit to 200,000 total points (up from 100,000) for Ink Business and Sapphire Reserve for Business cards, with each referral earning 40,000 points.
• Why it matters: This doubles the maximum referral earnings potential for business cardholders, making referrals significantly more lucrative.

Earning & Accumulation

Newegg: $500 Southwest gift cards for $480, stackable with 10x Ultimate Rewards promo

• Source: Frequent Miler
• Link: Frequent Miler
• What: Newegg is selling $500 Southwest gift cards for $480 using promo code SSF69254, and this can be stacked with a Paze/Chase card offer earning 10x Ultimate Rewards.
• Why it matters: Combining the 4% discount with 10x UR earning creates an exceptional opportunity to earn Chase points on Southwest spend at a very low effective cost.

Staples: Fee-free $200 Visa gift cards in-store

• Source: Frequent Miler
• Link: Frequent Miler
• Ends: June 6, 2026
• What: Staples is offering fee-free fixed $200 Visa gift cards in-store, with a limit of nine per customer per day.
• Why it matters: This allows manufactured spending on Chase cards that earn bonus rewards at office supply stores (like Ink Business Cash at 5x) with no fee eating into profits.

Other Chase UR News

Chase Sapphire Reserve lifetime bonus rule: Pop-up message explained

• Source: The Points Guy
• Link: The Points Guy
• What: Applicants for the Chase Sapphire Reserve 150,000-point offer may see a pop-up message describing their bonus eligibility status.
• Why it matters: Understanding the lifetime bonus rule is critical before applying, as Chase may deny the bonus if you've previously received a Sapphire card bonus.

Honorable Mentions

• Capital One Shopping/Offers: Earn 35% or 20X at StubHub — Chase Sapphire Reserve cardholders can redeem a StubHub credit and stack with elevated earnings.
• World of Hyatt to launch early access bookings for elites and cardholders June 30th — Hyatt is introducing early access to award bookings for elites and co-brand cardholders, relevant for Chase UR transfers to Hyatt.
• American Airlines blocking close-in domestic award availability to partners — AA appears to be blocking close-in domestic award space on partner airlines like British Airways (a Chase UR transfer partner).