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Updated: Februar 1, 2024
So you want to get “another” Chase Sapphire Preferred® Card, or another 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 Chase Sapphire® branded card? Meaning, you could avail of a new sign up bonus. Is this you?
1. Are you eligible to apply for another Chase Sapphire Preferred® Card, or Chase Sapphire Reserve®
If you currently have a Chase Sapphire® branded card (Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, or no annual fee Chase Sapphire®), you may be eligible to apply for another one. But you have to meet the following criteria.
What is your Chase 5/24 status – this is paramount. READ THIS.
Have you received a sign up bonus with the Chase Sapphire Preferred® Card, or Chase Sapphire Reserve® in the last 48 months
You are eligible to apply for a new Chase Sapphire Preferred® Card or Chase Sapphire Reserve® :
- 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 Chase Sapphire® Card.
2. Did you know that you would need to do a product change?
Chase won’t approve you a new Chase Sapphire Preferred® Card, or Chase Sapphire Reserve® if you have another open or active Chase Sapphire® Card
If you happen to have 1 or 2 current active Chase Sapphire® card/s, you would need to product change those cards
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.
DO NOT product change to any other Chase Sapphire® card. If you do, and you apply, you will NOT be approved.
3. 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® , and you plan on doing a product change, I suggest exhausting all the major current benefits of that Chase Sapphire Reserve® 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® Card, you will NOT have access to these credits or benefits once you do a product change and get yourself a Chase Sapphire Preferred® Card. If you do however choose to get another Chase Sapphire Reserve®, since it’s going to be an entirely new account, I would expect Chase to give you these benefits when you reapply.
4. How to do a product change
It’s best to call Chase 1-800-432-3117 (or call the # on the back of your Chase credit card)
No need to tell them that you plan on applying for a new Chase Sapphire Preferred® Card, or Chase Sapphire Reserve®
They don’t need to know that on this call
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.
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 any other Chase Sapphire ®Card.
5. How long do you wait before applying for a new Chase Sapphire Preferred® Card, or Chase Sapphire Reserve®
- Once you’ve done a product change, do not apply for a new card immediately.
I spoke with a Chase rep and she advised to wait and apply after your next billing cycle
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
- Personal example:
- My wife did a product change. She had an old Chase Sapphire Preferred® Card, and she product changed that to a Chase Freedom® on May 16 (Tuesday). We decided to wait one full week. On May 25 (Wednesday), she reapplied for a new Chase Sapphire Preferred® Card. She did not get instant approval. But she got approved 36 hours later.