Chase changed Sapphire bonus rules — author earned a second bonus after 15 years

Full text

Last year, I watched many of my colleagues jump on the Chase Sapphire Preferred® Card's (see rates and fees ) 100,000-point welcome offer while I sat on the sidelines.

At the time, I wasn't eligible because I already held the Chase Sapphire Reserve® (see rates and fees ), and Chase didn't allow cardholders to have both Sapphire cards at once.

This year, those rules changed. Chase now allows cardholders to hold both the Sapphire Preferred and Sapphire Reserve.

I still didn't think I'd qualify, though.

I'd previously held the card, earned its welcome bonus nearly 15 years ago and assumed Chase's current eligibility rule would prevent me from earning another one.

Even so, I submitted an application, fully expecting to receive a pop-up message telling me I wasn't eligible for the bonus.

That pop-up never appeared. Nor was I immediately declined.

Instead, after a quick call to Chase's lending department, I was approved. I am now a proud Sapphire Preferred cardholder once again — and on my way toward earning a 100,000-point bonus, the highest-ever offer on this card .

Here's what happened.

[ENDING SOON] Limited-time offer on the Chase Sapphire Preferred : Earn 100,000 bonus points after spending $5,000 on purchases in the first three months from account opening.

Why I thought I wasn't eligible for the Sapphire Preferred

Over the last year, Chase updated its Sapphire eligibility rules in two important ways.

First, it became possible to hold both the Sapphire Preferred and Sapphire Reserve at the same time. That meant I was finally eligible to apply for the Preferred even though I already carried the Reserve.

However, the Sapphire Preferred application page states:

This credit card is unavailable to you if you currently have this card open. The new cardmember bonus may not be available to you if you previously held this card or received a new cardmember bonus for this card. We may also consider the number of cards you have opened and closed in determining your bonus eligibility.

Since I previously earned a bonus on the Sapphire Preferred 15 years ago, ahead of a bucket-list trip to Australia and New Zealand, and I thought I'd be over Chase's unwritten (but well-documented) 5/24 rule , I expected to see the pop-up notification that I would be ineligible for the bonus.

CHASE This message appears before Chase runs a hard inquiry on your credit, so you can choose to continue your application without earning the bonus or cancel it.

Related: After more than 16 years, why the Chase Sapphire Preferred should still be your first rewards card

Getting approved for the Sapphire Preferred bonus again

I filled out the application and, when I clicked submit, I didn't see the pop-up above. However, I wasn't immediately approved either. Instead, Chase told me my application required additional review.

CHASE This has happened before. Since the Sapphire Preferred would become my ninth Chase personal card, I suspected I'd reached the amount of credit Chase was willing to extend. In the past, reallocating credit from another Chase card usually did the trick.

And that's exactly what happened here.

The day after applying, I called Chase and spoke with the lending department, and a lovely agent proactively told me I had a lot of unused credit I could move around. I opted to take $15,000 from my Chase Freedom Unlimited® (see rates and fees ), and voila — I was approved.

The card appeared instantly in my Chase app, so I could add it to Apple Pay and start using it right away — though it took about 24 hours for the welcome bonus tracker to display.

Related: Chase Sapphire Preferred Card review: Still on top with new benefits and earning rates

What does this mean for former Sapphire Preferred cardholders?

Of course, this is just one data point, but my experience suggests there may be more nuance to the Sapphire Preferred's eligibility criteria.

I thought I was over 5/24, and I was also a previous cardholder. While it's possible the length of time since I last opened the card (15 years) played a role, it's also worth noting that Chase's application language says the bonus " may not be available" if I previously had the card or earned a bonus.

Regardless of the reason for approval, I'm thrilled about the opportunity to earn the highest-ever 100,000-point welcome bonus and excited about the array of new perks the card offers after its refresh last month.

The enhanced earning rates will make this card a workhorse in my wallet, especially with stubbornly high gas prices and how frequently I stay in vacation rentals .

I'll easily utilize the Chase Travel hotel credit , and since I also have the Sapphire Reserve, I can still take advantage of 1:1 transfers to my World of Hyatt account — which happens to be my favorite way to maximize Ultimate Rewards points .

The key takeaway? You may be eligible for a bonus on the Sapphire Preferred — even if you don't think you are.

[ENDING SOON] Limited-time offer on the Chase Sapphire Preferred : Earn 100,000 bonus points after spending $5,000 on purchases in the first three months from account opening.

Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.