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The Chase Sapphire Preferred Credit Card is one of the top credit cards for travel and dining rewards. It has a low $95 annual fee and an annual $50 hotel credit. Right now, the card offers an impressive 100,000 sign-up bonus points for online applications.
If you’re considering applying for the Chase Sapphire Preferred Credit Card, it’s important to understand the application rules and eligibility criteria for the sign-up bonus. Below, I’ve addressed some frequently asked questions to assist you in the process.
Does the Chase 5/24 rule apply to the Sapphire Preferred card?
Yes. Chase will not approve your Chase Sapphire Preferred Credit Card application if you’ve opened five or more credit cards (including Amex charge cards) with any bank in the past 24 months or two years. This rule is known as the Chase 5/24 Rule.
The best way to count how many credit cards you’ve opened in the past 24 months is to sign up for a free credit report such as Experian. Once you join the service, you can view your credit report for free and start counting cards you’ve opened in the past 24 months.
Does an authorized user card count towards Chase 5/24?
Yes. If you are an authorized user on a card, that card also shows on your credit report. Therefore, Chase can see and count that card towards its 5/24 rule. However, if your application’s denial is due to the 5/24 rule, you can call in the reconsideration line to explain that the card is an authorized user’s card, and Chase will not count that card.
If you are no longer an authorized user on a Chase card, the card may still appear on your credit report as a closed account, and thus it is still counted against the Chase 5/24 Rule. You can request Chase to remove that account from your credit report. See the post below:
Does the Chase 2/30 rule apply to the Sapphire Preferred card?
Yes. Chase will not approve you if you have already opened two Chase credit cards in a month.
Chase Sapphire Preferred Card 48-Months Sign-Up Bonus Rules
According to the Chase Sapphire Preferred Credit Card sign-up bonus offer terms:
The product is not available to either:
- Current cardmembers of any Sapphire credit card, or
- Previous cardmembers of any Sapphire credit card who received a new cardmember bonus within the last 48 months.
- The 48-month term starts from when you last received the card’s sign-up bonus, not when you open or close the card.
- If you are an existing Sapphire customer and would like this product, please call the number on the back of your card to see if you are eligible for a product change. You will not receive the new cardmember bonus if you change products.
Can I apply for the Sapphire Preferred card if I have a Sapphire Reserve card?
No, you cannot. If you are currently a card member of the Chase Sapphire Reserve Credit Card, Chase will not approve your application for the Sapphire Preferred card.
Chase only allows you to have one Sapphire-branded card at a time. Its card application system automatically detects that you are already a Sapphire card member and will not approve you for another Sapphire-branded card. The denial reason states that “you already have a Sapphire-branded card account with us”. The good news is that Chase does not pull your credit report when that happens.
Should I close or downgrade the Sapphire Reserve card and apply for the Sapphire Preferred card?
Yes, that’s the way to do it!
Downgrading your Chase Sapphire Reserve Credit Card can be better than closing it because you will retain all your credit history. The recommended Chase card to downgrade your Reserve card to is one of the Chase Freedom credit cards below:
- Chase Freedom Flex Credit Card
- Chase Freedom Unlimited Credit Card
The Freedom cards are cashback cards, but they complement a Sapphire card well because they all earn Chase Ultimate Rewards (UR) points that you can combine and redeem for more rewards than just cashback.
Additionally, you might not qualify for the sign-up bonus on the Sapphire Preferred card because of the 48-month rule. It’s crucial to know the date you last received the sign-up bonus on the Reserve card, rather than the date you opened the Reserve card. The simplest way to determine this is by reviewing your Reserve card statements to find when you received the sign-up bonus points.
Can I downgrade my Sapphire Preferred card and apply for a new Sapphire Preferred card?
Yes, you can. See above.
How long do you have to wait after downgrading your Sapphire Reserve card before applying for the Sapphire Preferred card?
It’s worth reminding again that Chase only allows you to have one Sapphire-branded card account at a time.
There is no written rule on how many days you must wait to apply for the Chase Sapphire Preferred Credit Card after you close or downgrade the Reserve card.
First, confirm the date when you will be eligible for the new sign-up bonus for the Sapphire Preferred card. If you qualify immediately, it’s advisable to wait a few days after you switch from your Reserve card before applying, as the Chase system may still recognize you as a Sapphire card member. Unless you need to sign up for the Sapphire card urgently, waiting three business days could be sufficient. However, it’s generally better to wait one to two weeks (up to 30 days) after changing your Reserve card before applying for the Sapphire card.
Can a Sapphire Reserve card’s authorized user apply for the Sapphire Preferred card?
Yes. While Chase limits you to only one Sapphire-branded card at a time, it does not consider you the account holder of the Sapphire Reserve card if you are just an authorized user on that card. Similarly, an authorized user on your Sapphire Reserve card can apply for the Sapphire Preferred card independently and get the sign-up bonus if they meet all the offer’s eligibility requirements.
Can a Sapphire Preferred card’s authorized user apply for the Sapphire Preferred card and earn the sign-up bonus?
Yes. Being an authorized user (AU) is not the same as being the primary cardholder. Although you have a Sapphire Preferred credit card with your name on it as an authorized user, you are not the account holder, and therefore, as far as Chase is concerned, you do not have the Sapphire Preferred card’s account.
If you are an authorized user on a Sapphire Preferred card, you can apply for the Preferred card as a primary cardholder. In other words, an authorized user of the Sapphire Preferred card can apply for the Sapphire Preferred card. Authorized users are also eligible for the Sapphire Preferred card’s sign-up bonus if they meet all the offer’s eligibility requirements.
Chase Sapphire Preferred Card’s Application and Sign-up Bonus Eligibility Checklists
- Your credit report does not show you’ve opened at least five credit cards with any bank in the past 24 months in your credit report.
- If you are an authorized user on a credit card, Chase’s system automatically counts that card towards its 5/24 rule. See the above section, “Does an authorized user card count towards Chase 5/24?”
- You have not open two Chase credit cards within 30 days.
- You are not currently a card member of the Chase Sapphire Reserve Credit Card.
- An authorized user (AU) of the card does not qualify as a current card member.
- Suppose you currently have a Chase Sapphire Reserve Credit Card, and you really want the Chase Sapphire Preferred Credit Card. In that case, you can close or downgrade the Reserve card to one of the Chase Freedom credit cards first, then apply for the Sapphire Preferred card under the following conditions:
- The date you received the Reserve card’s sign-up bonus was 48 months ago.
- You’ve waited at least a week or two (up to 30 days) after product-changing your Reserve card before applying for the Sapphire Preferred card.
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