The Chase Sapphire Preferred card is currently running a limited time welcome offer of 80,000 Ultimate Rewards points. This is the highest bonus on the card that’s publicly available. However, Chase has a myriad of rules with regards to some of these cards. In this case, I’m not eligible for this offer, but are you? Let’s have a look at some of the fine print that you need to look at before you apply.
CHASE SAPPHIRE PREFERRED OFFER
With this limited time offer, you’ll earn a welcome bonus of 80,000 Ultimate Rewards points after you spend $4,000 in the first 3 months.
Chase Sapphire Preferred Welcome bonus: 48 MONTH RESTRICTION
Chase will deny you the bonus if you’ve received a welcome bonus for the Chase Sapphire Preferred or the Reserve in the last 48 months. Please note that the date when you received the bonus is what starts the clock instead of the date of card approval.
This product is available to you if you do not have any Sapphire® card and have not received a new cardmember bonus for any Sapphire card in the past 48 months
According to this rule, Chase will not approve you for one of their cards if you’ve successfully applied for two or more Chase cards in the last 30 days.
ONE SAPPHIRE RULE
If you already hold a Chase Sapphire Preferred or Reserve, Chase will not approve you for the other Sapphire card unless you downgrade one of the cards you currently hold.
CHASE 5/24 RULE
Chase will not approve you for their credit cards if you’ve been approved for 5 or more cards from any issuer in the last 24 months.
If your answer to any of the questions below is YES, then you won’t qualify for this 80,000 point offer on the Sapphire Preferred:
- My last welcome bonus for the Sapphire Preferred or the Reserve posted after May 2019
- I have already been approved for 2 Chase cards in the last 30 days
- I currently hold the Chase Sapphire Reserve
- I’ve been approved for 5 or more credit cards (from any issuer) in the last 24 months
THE PUNDIT’S MANTRA
Had I been eligible for this offer, I would’ve surely jumped on it. However, Chase has seriously tightened their application restrictions over the years. Since my last Sapphire Bonus posted in June 2020, I’m not eligible for this offer.
But your situation may be different. If eligible, are you planning to apply for this offer right away?
Which is your favorite Chase card? Tell us in the comments section.