Chase Sapphire Application Rules
Chase currently has an increased welcome bonus for the Chase Sapphire Preferred card. You can currently earn 100,000 points when you apply and spend $5,000 in purchases in your first 3 months from account opening. That bonus is set to expire on May 12 for referrals, May 15 through online links and May 15 in-branch.
There’s also a rumored refresh coming soon for the Chase Sapphire Reserve card, which includes a big annual fee increase. So you might need to think your strategies and decide what is best for you.
If you are eligible for a welcome bonus on Chase Sapphire cards, then applying for the Sapphire Preferred now isa probably your best option. But whichever way you decide to go, there are a few important rules to keep in mind when it comes to applying for Chase cards in general and more specifically for Chase Sapphire cards.
General Chase Application Rules
- You need to be under 5/24 in order to get approved and earn a bonus on a new Chase card. No idea of your Chase 5/24 status? Find out how to calculate it.
- You can possibly apply at 5/24, and call recon to get the application through if drop to 4/24 within 30 days.
- Chase usually limits you to 2 new cards per 30 days (2/30 rule). Business cards are normally limited to 1 per 30 days (1/30 rule).
Chase Sapphire Bonus Rules
- You are NOT eligible for a bonus on Sapphire cards, if you:
- currently have a Sapphire card (that includes the no-fee Sapphire)
- have received a new Sapphire bonus within the last 48 months (this is from the date the bonus posted)
- You can get a Sapphire card bonus if you are an authorized user on someone else’s Sapphire account
- If you currently have a Sapphire card, you can downgrade it to a non-Sapphire card (like Freedom) and then apply for a a Chase Sapphire card 4 calendar days later (maybe even 2 days later). You need to call in to product change. If you cancel your current Sapphire card, it may take longer for it to clear from the system (maybe up to 30 days).
Important Tips About Applying for Chase Sapphire Cards
- You can apply through a referral link from a spouse, other family member or a friend and they will earn a 10,000 points bonus.
- Rakuten is currently offering a bonus of $100 or 10,000 Membership Rewards points when you apply for Chase Sapphire Preferred.
- Do NOT refer yourself. Spouses referring each other is OK, and both spouses can refer each other.
- If you have Sapphire Preferred or Sapphire Reserve you can refer to either of those cards. You can NOT refer from the no-fee Sapphire card.
- When you downgrade a Sapphire card to Freedom, you keep your Ultimate Rewards points. There’s no need to use them or transfer them.
Guru’s Wrap-up
Hopefully this covers most of the questions that you might have about applying for Chase Sapphire credit cards. If you still have questions, don’t hesitate to leave a comment below. The same goes for any datapoints that you have that might contradict the rules and tips in the article.
