The Chase Sapphire Preferred® Card and the Capital One Venture Credit Card both have made a few waves in the ocean of rewards credit cards recently.

Yesterday Chase made it harder to get repeat bonuses on the Chase Sapphire Reserve® and the Chase Sapphire Preferred® Card 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.

You now have to wait four years instead of two between Sapphire cards to get a new member bonus.

Today we learned of a new rule enforced by Chase regarding their Sapphire products. Applicants will not be approved for another credit card in the Sapphire family if they already have one open. These are Chase's Sapphire branded credit cards:

Sapphire
Sapphire Preferred
Sapphire Reserve

This rule will only affect applicants moving forward and should have no affect on the cardmember status of existing cardholders.
Where the Rumor Came From
Doctor of Credit was a sent a photo from someone who works at Chase of a memo that was sent to them by Chase. It went over four points.