How good is the Delta Amex Reserve’s 125,000 bonus SkyMiles offer?

The Delta SkyMiles® Reserve American Express Card has just announced a welcome bonus equal to the highest we’ve seen on the card. New applicants can earn 100,000 bonus miles after spending $6,000 on purchases in the first six months of card membership, plus 25,000 bonus miles after spending an additional $3,000 in the first six months of card membership — for an impressive total of 125,000 bonus SkyMiles. Offer ends April 1.

Though the Delta Amex Reserve has a sizable annual fee of $650 (see rates and fees), maximizing this card’s lounge access perks, companion certificate, statement credits and other airport benefits could offset the fee.

While I’m not a regular Delta Air Lines flyer, this elevated Delta SkyMiles welcome offer on the Delta Reserve has me seriously reconsidering whether it’s time to add this premium card to my wallet.

Apply here to earn up to 125,000 bonus SkyMiles: Delta SkyMiles Reserve American Express Card

If you are a regular Delta flyer and don’t have the card, it’s time to take notice, as it can make your journey much more comfortable, especially if you’ve ever longed for airport lounge access.

With the card’s increased welcome offer, TPG readers may be asking: How good is it?

Here’s my take on why this offer is a great deal and why this card could work for you — even if Delta isn’t necessarily your go-to airline.

Related: Delta announces Las Vegas Sky Club, plans to revamp 2 Florida lounges

How common is a 125,000‑mile welcome offer on the Delta Reserve?

This is only the second time that the Delta Reserve has offered 125,000 total bonus miles. It’s equal to the highest-ever public welcome offer we’ve seen in the past four years.

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The card last offered 125,000 miles in September 2025 (with a lower spending requirement), and before that, the highest offer was 100,000 miles. Outside of these brief elevated periods, the welcome offer has typically ranged between 60,000 and 95,000 miles.

In other words, this offer is as good as it has been over the past few years.

If you’ve been waiting for a sign to apply, this is it.

Who is eligible for the up to 125,000‑mile welcome offer on the Delta Reserve?

TPG recommends a good to excellent credit score to increase the likelihood of approval for this card.

American Express has a once-per-lifetime rule for welcome offers, so you can’t earn a welcome offer on the Delta Reserve if you’ve received one on this card in the past.

If you currently hold or have held the Delta Reserve but haven’t received a welcome offer yet (perhaps you opened it when there was no welcome offer), you could still be eligible for this offer.

If you’ve been approved for any American Express card within the last five days, you may need to wait before being approved for the Delta Reserve card, as Amex typically limits approvals to one credit card every five days and two credit cards every 90 days.

How much are 125,000 Delta SkyMiles worth?

Based on TPG’s January 2026 valuations, Delta SkyMiles are worth 1.25 cents each. That means the full 125,000-mile welcome offer could be worth an impressive $1,562.50 in travel value.

While the SkyMiles program usually charges high redemption rates for premium cabins on long-haul Delta-operated flights, there is significant value in both short-haul Delta flights and partner-operated flights that don’t touch the U.S.

Some of the best ways to use Delta miles include:

• Taking advantage of Delta’s frequent SkyMiles deals, which have previously offered domestic flights or flights to Mexico for as little as 5,000 miles one-way, making them a terrific deal for short hops
• Using the TakeOff 15 benefit to save 15% on Delta-operated award flights when you have an eligible Delta credit card, such as the Delta Reserve
• Booking business-class flights from Tokyo to Singapore on Vietnam Airlines for 40,000 SkyMiles one-way, which is an incredible value for premium cabin travel in Asia
• Flying lie-flat business class from Dubai to Paris on Air France for 42,500 miles one-way

Even as someone who doesn’t regularly fly Delta, these redemption opportunities make SkyMiles valuable in my book — especially with the up to 125,000-mile offer.

Related: Ultimate guide to Delta premium economy: What is it and is it worth it?

So, is the Delta Reserve’s up to 125,000-mile offer one of the best deals ever?

If you’re eligible, now is a great time to pick up the Delta Reserve, not just because 125,000 miles is equal to the highest offer we’ve seen for the card, but because the card’s premium benefits can easily offset its $650 annual fee.

Beyond the huge welcome offer, here are the top reasons why you should consider the Delta Reserve card, whether or not you’re a Delta loyalist:

• Delta Sky Club access: As the primary cardholder, you’ll receive 15 annual visits to Delta Sky Clubs when traveling on a same-day, Delta-marketed or Delta-operated flight, with unlimited annual visits after spending $75,000 in a calendar year. You also receive unlimited complimentary visits to American Express Centurion Lounges when flying Delta with a ticket purchased on a U.S.-issued American Express card. This benefit alone can save you hundreds per year, even if you only fly Delta occasionally, and make your travels far more comfortable.
• Companion certificate: Receive a companion certificate each year after your account anniversary, valid for one round-trip companion ticket to destinations in the U.S. (including Hawaii and Alaska), Mexico, Central America or the Caribbean, in first class, Delta Comfort+ or the main cabin when you purchase one adult round-trip ticket (taxes and fees must be paid with the card).
• Statement credits*: The card comes with up to $240 in annual Resy statement credits (up to $20 per month) for use at U.S. Resy restaurants; an up to $200 annual Delta Stays statement credit per calendar year for eligible stays; up to $120 in monthly ride-hailing statement credits (up to $10 per month) with eligible U.S. providers; and a $120 statement credit for Global Entry every four years or an up to $85 statement credit for TSA PreCheck every 4 1/2 years.
• TakeOff 15 discount: Save 15% on Delta-operated award flights when you redeem SkyMiles and pay taxes and fees with the card.
• Premium travel benefits: Enjoy a first checked bag free on Delta flights for you and up to eight companions traveling on the same reservation, plus Zone 5 priority boarding and 20% back as a statement credit on inflight purchases.

*Enrollment is required for select benefits.

Related: These are our favorite Delta Sky Clubs in the US — and a card we love that gets you access

Bottom line

Here’s a recap of why the incredible 125,000-mile offer on the Delta Reserve is so good:

• This offer is equal to the highest public welcome offer we’ve seen on the card in the last four years.
• The total miles you can earn on the offer are worth $1,562.50, according to TPG’s January 2026 valuations.
• The card’s Sky Club and Centurion airport lounge access, companion certificate, statement credits and other airport benefits can easily offset the annual fee (without even factoring in the welcome offer).
• SkyMiles redemptions can start from as low as 5,000 miles each.
• The TakeOff 15 benefit ensures you’ll get even more value from your miles on Delta-operated flights.

If you’ve ever considered applying for the Delta Reserve, now is the time to do so, whether you’re a frequent Delta flyer or someone looking to make travel more comfortable and affordable like me.

To learn more, check out our full review of the Delta SkyMiles Reserve.

Apply here: Delta SkyMiles Reserve American Express Card

For rates and fees of the Delta SkyMiles Reserve, click here.