What a Chase credit card bonus is and how you earn it

A Chase credit card bonus is a reward the bank offers you for opening a new account and spending a certain amount of money within a set timeframe. Instead of giving you cash back on every purchase, Chase front-loads the reward: spend $500 in the first three months, for example, and you might receive 50,000 points. Those points have a dollar value — usually worth between 0.5 cents and 2 cents each, depending on how you use them — so a 50,000-point bonus could be worth $250 to $1,000.

The catch is that you have to meet the spending requirement to get the bonus. If you open the card and spend $300 in three months, you get nothing. Chase does not give you partial credit. You either hit the target or you do not. The bonus posts to your account a few weeks after you meet the spending requirement, usually as points or miles that sit in your rewards account until you redeem them.

Chase also sets rules about who can earn a bonus. You cannot get a bonus on the same card twice in a row — there is typically a waiting period of several years between bonuses on the same product. And if you have opened multiple Chase cards recently, you may hit a limit on how many bonuses you can earn in a given time window.

Key Takeaways

  • Chase bonuses require you to spend a specific amount within a specific timeframe; you receive nothing if you fall short, even by one dollar.
  • The bonus is usually worth between $250 and $1,000 depending on the card, but the actual value depends on how you redeem the points.
  • You cannot earn a bonus on the same Chase card product twice; there is a waiting period of several years between bonuses on identical cards.
  • The annual fee, if any, is separate from the bonus and starts accruing when ready, so factor it into whether the bonus is worth the cost.
  • Manufactured spending — buying things you do not need just to hit the requirement — usually costs more than the bonus is worth.

How the spending requirement works in practice

The spending requirement is the dollar amount you must charge to the card within the promotional period. A typical requirement might be $500 in three months, $1,000 in six months, or $5,000 in three months. Chase counts most purchases — groceries, gas, restaurants, online shopping — but excludes balance transfers, cash advances, and fees.

The clock starts the day you open the account. If your requirement is $500 in three months and you open the card on January 15, you have until April 15 to spend that $500. Any purchase that posts to the account during that window counts. If you spend $400 by April 14 and $100 on April 16, you miss the bonus because the last $100 posted after the important date.

One common mistake is assuming you can meet the requirement with purchases you were already planning to make. If you spend $300 a month on groceries and gas anyway, and the requirement is $500 in three months, you are $400 short. You would need to find an extra $200 in spending — or shift planned purchases to the card — to hit the target. Many people open a card with a high requirement, fail to meet it, and lose the bonus entirely.

What the bonus is worth and how to redeem it

Chase bonuses come in two forms: points and miles. Points are more flexible — you can redeem them for cash back, travel, or merchandise through the Chase website. Miles are typically tied to airline partners and are worth more if you use them for flights, but they expire if you do not use them within a certain period.

The real value of a bonus depends on how you redeem it. A 50,000-point bonus on a card that earns 1 point per dollar spent might be worth $500 as a cash-back redemption (at 1 cent per point), but $750 if you redeem it for travel through Chase's travel portal (at 1.5 cents per point). If you transfer those points to an airline partner, they might be worth even more — or less, depending on the airline and the route.

Chase publishes the redemption rates for each card on its website, so you can calculate the minimum value before you open the account. Do not assume a bonus is worth the advertised dollar amount; that figure assumes you redeem at the highest rate, which often requires travel redemptions or transfers to specific partners.

Annual fees and whether the bonus covers them

Many Chase cards with large bonuses also charge an annual fee — often $95, $150, or higher. The fee posts to your account on the day you open the card and renews every year on the same date. If you open a card with a $95 annual fee and a $500 bonus, your net benefit in year one is $405, not $500.

Some cards waive the annual fee for the first year, which means you pay nothing upfront but owe the fee when you renew. Other cards charge the fee when ready. Read the terms carefully before you open the account so you know when the fee hits and how much it is.

If you plan to close the card after earning the bonus, factor the annual fee into your decision. A $500 bonus minus a $95 annual fee leaves you $405 ahead — but only if you actually redeem the bonus and close the card before the second annual fee posts. If you forget to close it, you will owe another $95 the following year.

Chase's rules on how often you can earn bonuses

Chase enforces two main restrictions on bonuses. The first is the 24-month rule: you cannot earn a bonus on the same card product if you have earned a bonus on that card within the past 24 months. So if you earned a bonus on the Chase Sapphire Preferred in January 2023, you cannot earn another bonus on the Sapphire Preferred until January 2025.

The second is the 5/24 rule, an unofficial but widely observed pattern: Chase often denies new card applications if you have opened five or more credit cards (from any bank) in the past 24 months. This is not a published rule, but it is common enough that many people track their applications to stay under the threshold.

Chase also has a one bonus per household per day rule for some cards, meaning you and a spouse cannot both earn a bonus on the same card on the same day. The exact rules vary by card and change over time, so check Chase's current terms before you open an account.

When a bonus is not worth the effort

A bonus sounds good in theory, but it can cost you money if you are not careful. The most common trap is manufactured spending — buying things you do not need just to hit the spending requirement. If the bonus is worth $500 but you spend an extra $600 on things you would not have bought otherwise, you have lost $100.

Another trap is opening a card with an annual fee and then forgetting to close it. The fee renews automatically, and you lose the benefit of the bonus. Set a calendar reminder for the day before your annual fee renews so you can decide whether to keep the card or close it.

A third trap is earning a bonus on a card with a high interest rate and then carrying a balance. If you spend $5,000 to earn a $500 bonus but then pay interest on that $5,000 because you could not pay it off, the interest will quickly exceed the bonus value. Only open a card if you can pay off the spending requirement in full before the due date.

How to track multiple Chase card bonuses over time

If you earn bonuses on multiple Chase cards, keep a straightforward spreadsheet with the card name, the opening date, the bonus amount, the spending requirement, the important date, and the redemption date. This helps you remember which cards you have opened, when you can open another card on the same product, and when annual fees are coming due.

Chase's website shows your points balance and any pending bonuses in your account, but it does not show you the important date for meeting the spending requirement or remind you when an annual fee is about to post. You have to track those dates yourself or set phone reminders.

Many people use a rewards tracking website or app to monitor multiple cards and bonuses, but a spreadsheet works just as well and gives you full control over the data.

Frequently Asked Questions

Do I have to spend exactly the amount required, or can I spend more?

You can spend more than the requirement. If the requirement is $500 and you spend $2,000, you still earn the bonus. You do not get extra bonuses for overspending — the bonus is a one-time offer — but all your purchases earn the regular rewards rate for the card.

What happens if I miss the spending requirement by a few dollars?

You get nothing. Chase does not give partial credit or extend the important date. If you need $500 and spend $499, you lose the entire bonus. Check your balance a few days before the important date and make a small purchase if you are close.

Can I transfer a balance to meet the spending requirement?

No. Balance transfers do not count toward the spending requirement. Only new purchases count. If you are trying to meet the requirement, you have to charge new purchases to the card.

When do I get the bonus points, and can I use them right away?

The bonus posts a few weeks after you meet the spending requirement. Once they appear in your account, you can redeem them when ready. You do not have to wait any longer.

If I close the card, do I lose the bonus points?

No. Once the bonus points post to your account, they are yours to keep even if you close the card. You can redeem them anytime after they appear, even after you have closed the account.