Yesterday Chase made it harder to get repeat bonuses on their Chase Sapphire Reserve and Chase Sapphire Preferred cards by changing the terms and conditions of the card offers. Previously, you were only eligible to earn the bonus on a Sapphire family card 24 months after you earned the bonus on a previous one.
“The product is not available to either (i) current cardmembers of any Sapphire credit card, or (ii) previous cardmembers of any Sapphire credit card who received a new cardmember bonus within the last 48 months. “
You now have to wait four years instead of two between Sapphire cards to get a new member bonus. Note that the old Sapphire card must be closed in order for you to be eligible for another.
The Other Chase Eligibility Rules to Remember
- Specific rule for the Sapphire branded cards (i.e. the Sapphire, Sapphire Preferred, and Sapphire Reserve): New applicants will not be approved for another credit card in the Sapphire family if they already have one open. In other words, if you currently hold a Sapphire card, you’re not eligible for a Sapphire Preferred nor a Sapphire Reserve. If you currently hold a Sapphire Preferred, you’re not eligible for a Sapphire Reserve. If you currently hold a Sapphire Reserve, you’re not eligible for a Sapphire Preferred. You also cannot earn the bonus on the Sapphire Reserve unless it’s been 24 months past when you earned the bonus on the Sapphire Preferred, or vice versa.
- You can downgrade a Sapphire Preferred or Sapphire Reserve to a no annual fee Chase card like the Freedom or Freedom Unlimited and that will count as getting rid of your Sapphire card for the purpose of this rule. Canceling isn’t necessary.
- 5/24: If you have 5+ new credit card accounts with any bank (not counting most business cards except for those issued by Capital One) in the last 24 months, you will be denied most Chase personal and business credit cards (with the exception of these).
- You probably shouldn’t apply for more than two cards in a 30 day period. Chase is known for denying people who apply for more than that.