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A six-figure welcome bonus sounds impressive — but what does that actually get you?
Right now, the Chase Sapphire Reserve® (see rates and fees), the Capital One Venture X Rewards Credit Card and the American Express Platinum Card® are all offering eye-catching offers worth a closer look.
Big welcome bonuses can be one of the fastest ways to build a large balance of points and miles, especially with premium travel cards.
But the best offer isn’t always the one with the biggest number. What really matters most is how much value you can get when it’s time to book.
Depending on how you redeem them, each of these offers could cover a business-class trip to Europe, several domestic flights within the U.S., or a few nights at a luxury hotel.
Here’s how these three current offers stack up — and how far they can actually take you.
Best welcome bonus by travel goal
- Best for premium flights: Amex Platinum
- Best for hotels: Sapphire Reserve
- Best for simplicity: Venture X Rewards
- Best overall for many travelers: Sapphire Reserve
Comparing the welcome offers
| Card | Annual fee | Welcome offer | Welcome offer value* |
|---|---|---|---|
| <strong><a href=”https://thepointsguy.com/oc/22504813?pid=22504813&name=American%20Express%20Platinum%20Card%C2%AE&issuer=American%20Express” target=”_blank”>Amex Platinum</a></strong> | $895 (see <a href=”/tc/22504813?pid=22504813&name=American%20Express%20Platinum%20Card%C2%AE&data-testid=ratesFees” target=”_blank”>rates and fees</a>) | <span style=”color: #1d1c1d; background-color: white;”>Find out your offer and see if you are eligible for as high as 175,000 bonus points after spending $12,000 on purchases in the first six months of card membership. Welcome offers vary, and you may not be eligible for an offer.</span> | Up to $3,500 |
| <strong><a href=”https://thepointsguy.com/oc/221211836?pid=221211836&name=Chase%20Sapphire%20Reserve%20PID&issuer=Chase” target=”_blank”>Chase Sapphire Reserve</a></strong> | $795 | Earn 150,000 bonus points after spending $6,000 on purchases in the first three months from account opening. | $3,075 |
| <strong><a href=”https://thepointsguy.com/credit-cards/capital-one-venture-x-rewards-credit-card/” target=”_blank” rel=”noopener”>Capital One Venture X Rewards</a></strong> | $395 | Earn 75,000 bonus miles after spending $4,000 on purchases in the first three months from account opening. | $1,388 |
*Welcome offer value is an estimated value based on TPG’s May 2026 valuations and is not provided by the issuer.
Related: What is a credit card welcome offer? How they work and how to maximize value
Which welcome offer should you choose?
Choosing the right welcome offer ultimately comes down to how you plan to use your points.
- Choose Venture X Rewards for simplicity. The welcome bonus is easy to use at a fixed value toward travel purchases, making it a strong option for travelers who don’t want to spend time learning transfer partners. While it still offers the option to transfer miles, the real appeal is its straightforward, consistent value.
- Choose Sapphire Reserve if you want the most well-rounded option. This card strikes a balance between ease of use and high-value redemptions. You can book travel directly through Chase Travel℠, but transferring points can stretch your bonus significantly further for both flights and hotels.
- Choose Amex Platinum if you want the highest potential value. This welcome offer offers the most upside, particularly for premium cabin flights. However, getting the most out of it typically requires more effort and flexibility when transferring points to airline partners.
Related: How to pick the right travel credit card for you
Real-world redemptions: How far each bonus can take you
Each of these welcome offers provides a sizable stash of points or miles that can be put toward flights right away, whether you’re looking to book several economy trips or splurge on a premium cabin experience.
Venture X: Strong value with minimal effort
Capital One miles earned through the Venture X welcome offer can be redeemed at a fixed value toward travel purchases or transferred to more than 15 airline and hotel partners.
Based on TPG’s May 2026 valuations, Capital One miles are worth 1.85 cents each, making the current 75,000-mile bonus worth roughly $1,388.
- Flights: Transfer to Air Canada Aeroplan for domestic economy flights starting around 15,000 miles one-way — enough for multiple trips. Or, book a one-way business-class flight to Europe via partners like British Airways for around 60,000–70,000 miles (plus taxes and fees).
- Hotels: Use miles at a fixed value to erase travel purchases, enough to cover several nights at midrange hotels or offset a more expensive stay.
Overall, the Venture X welcome offer is best for travelers who want simple, flexible redemptions with the option to transfer for more value.
Related: Capital One miles: How to get maximum value when redeeming miles
Sapphire Reserve: High-value travel, especially for hotels
Chase points earned through the Sapphire Reserve welcome offer can be redeemed through Chase Travel or transferred to 14 airline and hotel partners.
According to TPG’s May 2026 valuations, Chase Ultimate Rewards points are worth 2.05 cents each, making the current 150,000-point welcome offer worth approximately $3,075.
- Flights: Book airfare through Chase Travel for straightforward redemptions, or transfer to partners like United Airlines for domestic flights from around 12,500–15,000 points one-way or business-class flights to Europe starting around 120,000–140,000 points round-trip.
- Hotels: Transfer to World of Hyatt, where award nights can start as low as 3,500–5,000 points — meaning this bonus could cover multiple nights or even an extended stay, with high-end properties like the Park Hyatt Tokyo starting at 35,000 points per night. (Though, keep in mind, Hyatt is changing its award chart later this month.)
Overall, the Sapphire Reserve has the most well-rounded welcome offer, with standout value for hotel stays.
Related: Chase Ultimate Rewards points: How to redeem for maximum value
Amex Platinum: Highest upside for aspirational travel
Membership Rewards points earned with the Amex Platinum welcome offer can be redeemed through American Express Travel® or transferred to 20 airline and hotel partners.
Based on TPG’s May 2026 valuations, Membership Rewards points are worth 2 cents each, making a targeted offer of up to 175,000 points worth up to $3,500.
- Flights: Transfer to programs like Air France-KLM Flying Blue or ANA Mileage Club for business-class flights to Europe or Asia — potentially 100,000–150,000 points round-trip (plus taxes and fees).
- Hotels: Use points through Amex Travel to cover hotel stays, though transfers to Hilton Honors or Marriott Bonvoy typically require more points and offer less value.
Overall, the Aemx Platinum welcome offer is best for travelers aiming for high-end, aspirational flights and less compelling for hotel redemptions.
Related: How to redeem American Express Membership Rewards points for maximum value
Bottom line
The Amex Platinum, Sapphire Reserve and Venture X are all offering valuable welcome offers — but the best option depends on how you plan to redeem your points and/or miles.
The Amex Platinum and Sapphire Reserve can unlock outsize value through premium travel redemptions, while the Venture X stands out for its simplicity and consistent, easy-to-use rewards. The Sapphire Reserve, in particular, strikes a strong balance across flights and hotels, especially when leveraging transfer partners.
Ultimately, the most valuable welcome offer isn’t just the one with the biggest number; it’s the one that aligns with how you actually travel.
Apply here: Chase Sapphire Reserve
Apply here: American Express Platinum Card
Learn more: Capital One Venture X Rewards Credit Card
For rates and fees of the Amex Platinum, click here.
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.