Chase Sapphire Preferred® Card: New Bonus Offer Details
The Chase Sapphire Preferred® Card is currently offering a hefty bonus of 100,000 points for new cardholders who spend $5,000 in the first three months. So, it’s natural to wonder about your eligibility, especially if you’re already a holder of its more premium counterpart, the Chase Sapphire Reserve®.
But there’s good news—having the Sapphire Reserve doesn’t automatically disqualify you from earning the Sapphire Preferred bonus. It’s more about your history with the Sapphire brand. Let’s dive into the details:
Am I eligible for the Sapphire Preferred Bonus if I have a Sapphire Reserve?
Here’s the main point: You might qualify for the Sapphire Preferred bonus as long as you haven’t previously held the card or earned its bonus yourself. Even if you currently possess—or have possessed—the Sapphire Reserve, you may still be eligible for the new offer.
It’s an interesting situation. For instance, there’s a common belief that if you’re an authorized user of a Sapphire Preferred account without ever being the primary holder, you could still get your own Sapphire Preferred card along with that impressive bonuses—worth about $2,050 in travel rewards, according to some evaluations.
But you should always double-check the specific eligibility criteria before you apply.
Eligibility Rules for Chase Sapphire
Before jumping into the application, keep these rules in mind:
- The Chase 5/24 Rule is crucial. If you’ve opened five or more new cards with any issuer in the last 24 months, your chances of being approved for the Sapphire Preferred drop significantly. Business cards generally don’t count towards this total.
- You cannot currently hold an open Sapphire Preferred card.
- If you’ve already earned a bonus on the Sapphire Preferred card in the past, earning another one might not be possible, regardless of whether you still have the card.
- Having previously been the primary cardholder of a Sapphire Preferred account can make you ineligible, even if you didn’t earn a bonus then.
- If you’re just an authorized user and have never applied for your own Sapphire Preferred, you should still be in the clear to apply.
- A strong credit history is important; typically, a score of at least 670 is needed to qualify.
Ultimately, it’s essential that you meet the 5/24 guideline and haven’t earned a bonus in the past. If these criteria fit, then you should be good to go.
Conclusion
Even as a Sapphire Reserve cardholder, you may still be able to snag the Sapphire Preferred bonus. Remember, the key considerations revolve around your account history with the Sapphire cards.
If you’ve never been the primary cardholder for a Sapphire Preferred account and have never earned a bonus, chances are you can take advantage of this excellent offer. Just make sure to keep the 5/24 rule in mind and maintain a solid credit history. Also, double-check those spending requirements to secure that big bonus of 100,000 points.
Apply here: Chase Sapphire Preferred Card
