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Q: Can you apply for the Chase Sapphire Preferred again?
A: Yes, but it depends.
I have received many emails from readers asking if they could apply for the Chase Sapphire Preferred® Card again if they’ve already held the card.
If you remember back a couple of months ago when there was a limited time offer for the United℠ Explorer Card, many peeps were asking the same question because the terms and conditions had a new tweak that stated:
“This new cardmember bonus offer is not available to either (i) current cardmembers of this consumer credit card, or (ii) previous cardmembers of this consumer credit card who received a new cardmember bonus for this consumer credit card within the last 24 months.”
And now, you will find this terminology on the landing page under “offer details” for the Chase Sapphire Preferred® Card. This is good news for consumers who previously held the card and would like to apply for it again. For example, I had the Sapphire Preferred a few years ago, but downgraded to the no-fee version because that best fit my needs at the time. However, it’s been over 24 months since I last received a bonus on the Sapphire Preferred, so I would be eligible for the card and bonus again. Score.
If you’ve read the blog before, then you know that the Chase Sapphire Preferred is one of the best personal rewards credit cards out there (I think it’s the best). It comes with a sign-up bonus of 60,000 bonus points when you spend $4,000 on purchases in the first 3 months.
Other perks of the card include no foreign transaction fees, chip & sign technology, 2x points per $1 on dining and travel purchases, trip cancellation insurance, and primary car insurance.
Q: What is a mattress run?
A: Paying for a hotel room with the purpose of earning elite status credits, points, or maximizing a promotion.
A common term in the rewards or business travel space is “mattress run.” Basically, a mattress run is when you book a hotel for the sole purpose earning elite credits or points. Many times, you might not even stay at the hotel. Sounds crazy, but mattress runs can definitely be worth it.
For example, a couple of years ago, Club Carlson ran a big night giveaway where you could earn 44,000 or 50,000 points (depending on the property) for staying one night at their hotels. So I found the cheapest Club Carlson hotels I could and booked my nights there. I ended up paying a little over $200 for over 100,000 points. On top of the promotional points, I earned my standard points for paying for my stays.
I then used my 100,000 points for bookings at the Le Metropolitan in Paris and the Radisson Blu in Dublin, Ireland. It was a great value! Now that I’m thinking about it, I actually still have some points left over from that promotion.
Another example of mattress running is when I pass through Las Vegas and book the Excalibur hotel for $30 so I can earn a cheap elite stay credit for Hyatt. It takes 25 stays or 50 nights a year to maintain my Hyatt Diamond status, so if I’m a couple stays short, I will find a very cheap Hyatt property to help me. I get a lot of value out of my Hyatt status, like free breakfast, suite upgrades, free wifi, priority check-in, and late checkout, so it’s worth it.
Sometimes, it’s even possible to stack promotions. For example, Hyatt has their fall promotion, app booking promotion, and Las Vegas promotion all going on right now. And add to that the Diamond Challenge, and the points can add up fast. It’s important to note that all promotions won’t be stackable. For example, you don’t earn an “elite stay” credit for Las Vegas MGM properties during the Diamond Challenge.
It’s important to do the math when thinking about doing a mattress run. It doesn’t always make sense for the infrequent traveler. Unless you’re going for status, you most likely won’t be doing one unless there’s a lucrative hotel promotion going on.
Hope this helps, and don’t hesitate to reach out if you ever have any questions!
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Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.