Can you get another Chase Sapphire bonus? 7 things to remember before reapplying
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Updated: March 12, 2023
Here’s the latest news that’s circling around the travel blogosphere
HT: Doctor of Credit
(Starts 3/19) Chase Sapphire Preferred 90,000 In-Branch Signup Bonus
Here are my thoughts:
News started to circulate about this possible increased offer on the Chase Sapphire Preferred card (CSP), currently at 60K, and from what we’ve read (if true), 90,000 in-branch offers could be available on March 19. I am neither confirming nor denying this – but here are my thoughts:
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If you plan on getting the CSP, for me, I would wait a bit to see how things shape up over the next few days.
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If you just got the 60K offer and you’re now hearing it’s going to be 90K, I wouldn’t do anything at this point. I’d wait until the 90K offer is out (if that is indeed true). In the most recent past, Chase was able to match their new cardmembers to the new offers when the Ink cards jumped for 75K to 90K – this is by any means NOT a guarantee, but worth asking
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And if you really plan on getting the 90K offer, and don’t mind waiting a few extra days, I’ll let you know if my affiliate program will have access to the 90K referral links.
So you want to get “another” Chase Sapphire Preferred or Chase Sapphire Reserve? Do you simply just apply for another card? What if you are an existing Chase Sapphire cardholder? You might be eligible to apply for another Sapphire-branded card? Meaning, you could avail of the bonus. Is this you?
1. How do you know if you’re eligible to apply for another Chase Sapphire Preferred or Reserve
If you currently have a Chase Sapphire-branded card (Preferred, Reserve, or no annual fee Sapphire), you may be eligible to apply for another one. But you have to meet the following criteria.
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What is your Chase 5/24 status – this is paramount. READ THIS.
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Have you received a sign up bonus with the Chase Sapphire Preferred (CSP) or Chase Sapphire Reserve(CSR) in the last 48 months
You are eligible to apply for a new Chase Sapphire Preferred Card (CSP) or Chase Sapphire Reserve Card (CSR):
- If you are UNDER 5/24 (did you read this? DO IT)
- If you have NOT received a bonus in the last 48 months,
- Or, if it has been 48 months or greater since you last received a bonus from your Sapphire card.
But, before you apply for a new Chase Sapphire Preferred Card (CSP) or Chase Sapphire Reserve Card (CSR), these are the things to keep in mind.
2. Did you know that you would need to do a product change?
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Chase won’t approve you a new Chase Sapphire Preferred Card (CSP) or Chase Sapphire Reserve Card (CSR) if you have another open or active Sapphire card
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If you happen to have 1 or 2 current active Sapphire card/s, you would need to product change those cards
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I’ve product changed mine down to a Chase Freedom (quarterly 5x cash back categories) or Chase Freedom Unlimited (1.5x pts on every purchase).
- Both of these product change options have NO ANNUAL FEE.
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DO NOT product change to another Sapphire card. If you do, and you apply, you will NOT be approved.
4. Before doing a product change
I’m all about trying to maximize the benefits that come with the credit card. If you have a card like the Chase Sapphire Reserve Card (CSR), and you plan on doing a product change, I suggest exhausting all the major current benefits of that CSR card first. The ones that come to mind are:
- $300 travel credit
- $100 towards Global Entry/TSA Precheck (if you haven’t used this option yet)
If your plan is to reapply and get a Chase Sapphire Preferred, you will NOT have access these credits or benefits once you do a product change and get yourself a Chase Sapphire Preferred. If you do however choose to get another Chase Sapphire Reserve(CSR), since it’s going to be an entirely new account, I would expect Chase to give you these benefits when you apply.
4. How to do a product change
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It’s best to call Chase 1-800-432-3117 (or call the # on the back of your Chase credit card)
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No need to tell them that you plan on applying for a new Chase Sapphire Preferred Card (CSP) or Chase Sapphire Reserve Card (CSR)
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They don’t need to know that on this call
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Tell them your product change plans, you will be given the options to choose. I, personally, like the Chase Freedom card for the 5x cash back offers.
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You’re allowed to have more than one Chase Freedom card, I have at least two under my name
- Again, DO NOT PRODUCT CHANGE TO ANOTHER SAPPHIRE CARD.
5. How long do you wait before applying for a new CSP or CSR
Before you reapply for a new Chase Sapphire Preferred Card (CSP) or Chase Sapphire Reserve Card(CSR)
- Once you’ve done a product change, do not apply for a new card immediately.
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I spoke with a Chase rep and she advised to wait and apply after your next billing cycle
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I’ve also seen others wait 30 days from the time they elected a product change.
- I’ve also heard of others who, after they did a product change, waited 1-2 weeks, applied for a new card and got approved.
- There are probably other data points where folks have applied sooner
- Should there be an issue where your application got denied, there is an opportunity for you to call Chase’s Reconsideration Line (1-800-432-3117). They will tell you what might have led to the denial, and perhaps find a way to address those issues to get you an approval.
6. Timing is everything
Knowing that the advise is to give it some time before reapplying, I suggest to plan accordingly. Here’s why. Let’s just pretend for a moment that the offer ends on Monday, April 5. If you have yet to do a product change, and today is Monday, March 29, there might not be enough waiting period time for you to do this. You might end up getting denied when Chase runs your new application. Your most recent Sapphire card that you just downgraded could still show up on your credit record which could lead to your denial.
I highly recommend that you keep in mind that you would need to do a product change sooner rather than later.
7. Still undecided?
If you have the capability to meet another $4,000 minimum spend within 3 months, and you determine that you are clearly eligible, then yes, I think it makes sense for you to get this extremely sought-after credit card. The bonus offers are generous bonus offers that could get you a cash back or use it for lots of options for travel rewards.
If you are ready to apply, click here. Please note that the offers below are subject to change without notice:
Chase Sapphire Preferred Card
- Earn 60,000 Chase Ultimate Rewards points
- Minimum spend of $4,000 on purchases in the first 3 months from account opening.
- Annual fee $95
- $50 hotel statement credit when booked with the Chase travel portal
Chase Sapphire Reserve Card
- Earn 60,000 Chase Ultimate Rewards points
- Minimum spend of $4,000 on purchases in the first 3 months from account opening.
- $300 annual travel credit
- $100 Global Entry/TSA Precheck credit
- Annual fee $550
*offers are subject to change*
For a list of other travel rewards cards, click here.
+1 to number 5. Did a product change from CSP to Freedom Flex, then tried to apply for a new CSP in the same week, only to be rejected. Got a letter from Chase that it was due to already having a Sapphire card. Will wait for the next billing cycle and reapply.
Wow. And there were others who said they did a product change 4 days after. Are you on my FB travel page group?