Can you get another Chase Sapphire® bonus? 6 things to remember before reapplying

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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.
But, before you apply for a new Chase Sapphire Preferred® Card , or Chase Sapphire Reserve®, these are the things to keep in mind.

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®

Before you reapply for a new Chase Sapphire Preferred® Card , or a new 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.

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 Chase 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.
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Editorial Disclosure: The editorial content is not provided or commissioned by the credit card issuers. Opinions expressed here are the author’s alone, not those of the credit card issuers, and have not been reviewed, approved or otherwise endorsed by the credit card issuers.

2 Comments

  1. +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.

    1. Wow. And there were others who said they did a product change 4 days after. Are you on my FB travel page group?

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