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Via Frequent Miler, Chase released a memo saying that effective yesterday, August 27, 2017, customers would NO longer be able to sign-up for a second Sapphire card. I haven’t yet heard anything directly from Chase.
This means that, for example, folks who already have a Chase Sapphire Preferred will no longer be approved for a Chase Sapphire Reserve card, or vice versa. The same rule applies if you have a Chase Sapphire (no longer available to new applicants) card.
Here’s the memo:
Beginning August 27 our same-product eligibility requirements have been updated for all Sapphire Credit Card products, which include Chase Sapphire, Chase Sapphire Preferred, and Chase Sapphire Reserve.
Here’s a look at what’s new:
- Going forward, a customer may no longer have more than one Sapphire-branded credit card. For example, if a customer has a Sapphire Preferred card, they are no longer eligible for a Sapphire Reserve card.
- While this change impacts all new and existing customers (including CPC clients), there is no impact to existing customers who presently have more than one Sapphire product. These customers continue to retain their Sapphire products as usual.
- If existing Sapphire customers wish to upgrade or downgrade their product, they may do so if eligible. However, no bonus points will be available with this upgrade or downgrade. The customer may call the number on the back of their card OR you may contact Banker Support with customers who are in the brand or already on the phone.
- If an account is closed, a customer will not be eligible for any Sapphire-branded credit card if they have earned a cardmember bonus on a Sapphire-branded product within the last 24 months.
Update to memo above: You’re now not eligible for a Sapphire bonus if you’ve received a bonus on any Sapphire card in the past 48 months.
This is unfortunate news for folks who were waiting to apply for a second Chase Sapphire card. But it brings Chase’s policy closely in line with Citi’s one card per brand every 24 months rule.
I’ll update y’all if I hear more. And while I know many of us will be unhappy with this news, it’s another reminder that our hobby is always changing. So get cards and redeem miles and points when you can!
Chase has changed the application rules for their Sapphire brand cards, and it’s not great news. Going forward:
- You may no longer have more than one Sapphire-branded credit card. For example, if you have the Chase Sapphire Preferred card, you won’t be eligible for a Chase Sapphire Reserve card
- Folks who already have more than one Sapphire card will be allowed to keep them
- You’ll be able to product change (upgrade or downgrade) a Sapphire card, but you won’t earn a bonus
- If you close your account, you will NOT be eligible for any Sapphire-branded credit card if you’ve earned the sign-up bonus on a Sapphire-branded product within the last 48 months
This will make it harder for folks to earn lots of Chase Ultimate Rewards points from sign-up bonuses in a short period of time.
What do you think of the new rule?