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The Chase Sapphire cards have long been some of our favorites because of the flexibility of Chase Ultimate Rewards points. Given their popularity, we receive lots of questions about just how often you can earn the bonuses!
The good news, Chase is one of a few banks that lets you earn a sign-up bonus more than once. But the rules are a bit stricter for their Sapphire cards.
Million Mile Secrets reader John asked:
I used to have the Chase Sapphire Reserve, then switched back to the Chase Sapphire Preferred. If I wait 24 months since I closed the Sapphire Reserve, can I apply for the Reserve and get the welcome bonus again?
Thanks for the question, John!
Chase Application Rules
Besides the usual criteria such as your credit score and a few other factors, Chase has other policies that affect not only whether they will approve you, but whether you’re eligible for a welcome bonus.
In John’s case, he is looking to earn the sign-up bonus from the Chase Sapphire Reserve. Let’s go over 2 Chase rule’s he’ll need to be aware of.
1. Chase’s Sapphire Card Policy
Last year, Chase implemented new rules for their Sapphire cards. Now, you can only have one Chase Sapphire card version at a time. So as long as you cancel (or downgrade!) any Sapphire cards you have, you’ll be able to apply for a different Chase Sapphire card.
BUT you will NOT be able to earn the sign-up bonus on ANY version of the Sapphire card if you’ve earned a welcome bonus from a Sapphire card in the past 24 months.
2. Chase 5/24 Rule
You will NOT be approved for most Chase cards if you have opened 5 or more credit cards from any bank in the past 24 months! But Chase business cards and business cards from these banks won’t count. Because they don’t appear on your personal credit report.
Also, if you’re an authorized user on someone else’s account, that WILL count toward your “5/24” limit. Although some folks have had success in calling and getting Chase to ignore authorized user cards.
And you won’t be eligible for the sign-up bonus on a Sapphire card if you’ve earned the intro bonus on any version of the Sapphire card within the past 24 months. Plus, all versions of the Sapphire card are affected by the Chase “5/24” rule!
So before applying for any Chase card, you need to be sure you qualify and are eligible to earn the sign-up bonus.
Thanks again for the question, John!