Chase has brought back the biggest welcome offer yet seen on its premium small-business card: 200,000 Ultimate Rewards points after spending $30,000 in the first six months. Based on a rough valuation of about 1.7 cents per point, that bonus works out to roughly $3,400 in travel value — though hitting the spend target means putting an average of $5,000 per month on the card.

This isn't entirely new territory. The same 200,000-point offer appeared when the card launched in 2025, dipped to 150,000 in early 2026, then returned. An earlier end date of September 2026 came and went, and Chase hasn't published a new deadline, so the offer could disappear at any point.

The card carries a hefty $795 annual fee, but Chase loads it with credits and perks aimed at people who travel for work. Earning rates are strong where it counts: 8x points on Chase Travel bookings, 4x on flights and hotels booked directly, 3x on social media and search engine advertising (capped at $1 million per year), and 5x on Lyft rides through September 2027. Big spenders get more still — put $120,000 on the card in a calendar year and you unlock IHG Diamond status, Southwest A-List status, and $500 credits toward both Southwest and Shops at Chase purchases.

Lounge access is a highlight. Cardholders get into Chase Sapphire Lounges, widely considered among the best credit-card lounges around, with two free guests, plus a Priority Pass membership that also allows two guests.

The credits stack up too: up to $300 in travel credit applied automatically, $500 toward hotel bookings through The Edit by Chase Travel (rising to $1,000 in 2027), $400 for ZipRecruiter, $300 spread across DoorDash, $200 for Google Workspace, $100 at giftcards.com, $120 in annual Lyft credits, and a Global Entry, TSA PreCheck or NEXUS fee credit every four years. Add solid travel protections for delays, lost bags and rental cars, complimentary IHG Platinum status, and a DashPass membership, and the fee becomes easier to justify for anyone who actually uses these benefits.

Here's the part many people miss: eligibility is independent of other Sapphire and Ink cards, so the bonus is open even to people who've already earned welcome offers elsewhere in the Chase lineup. You don't need a registered company either — freelancers, landlords and anyone with a side gig qualifies as a sole proprietor. Chase's 5/24 rule still applies (no approval if you've opened five or more personal card accounts in the past two years), and while there's no hard credit score cutoff, a score in the 700-plus range improves your odds.

Why should a traveller care? Because 200,000 transferable points can cover multiple long-haul business class redemptions or a couple of years of hotel stays. If you run a business or side hustle with meaningful spending, this is one of the richest business card offers currently available — but with no published end date, waiting is a gamble. Those points value assessments come courtesy of One Mile at a Time.