There are reports of Chase sending out a targeted offer on the Sapphire Preferred Credit Card offering a total welcome bonus of 105,000 Ultimate Rewards points (OFFER EXPIRED).
Given that Ultimate rewards points have a value of roughly 1.7 cents each, this welcome bonus is worth ~$1,785! However, it also requires some significant spending within the first.
The welcome bonus is broken down into two parts. You'll earn 50,000 points when you spend $4,000 on the card within the first 3 months and an additional 5,000 points when you add an authorized user who makes a purchase within the first 3 months. This is the standard current public offer.
The mailed targeted offer differs by offering an additional 50,000 points after you spend $25,000 in the first year.
The good news is this could be a great option if you are under Chase's 5/24 rule and don't have a problem hitting the $25k spending requirement. The bad news is that you are only eligible for the offer if you receive the targeted offer in the mail with a invitation number.
Hat tip: US Credit Card Guide