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For those who have been wanting to apply for the Chase Sapphire Preferred or the Chase Sapphire Reserve credit cards, they may have a bit more waiting to do. Recently, Chase made some changes to the application rules. It’s important to be aware of these changes if you’re looking for a new credit card for travel with highly valuable extra sign-on bonus points. However, when it comes to Chase, individuals may have to do more waiting.
Changes For Two Chase Credit Card Applications
Today we’ll share with you the Chase Credit Card applications changes that have been put in place.
Previously, individuals were unable to apply for a Chase Sapphire Preferred or a Chase Sapphire Reserve credit card if they had received sign-up bonus points for one of the cards within the last 24 months. Now, they’ve updated the application terms to reflect new rules to require even more waiting.
For the Chase Sapphire Reserve, individuals can only apply after waiting at least 48 months if they’ve previously received sign-up bonus points for the Chase Sapphire Preferred and vice versa.
Currently, some Chase Sapphire Preferred application documents still have the 24-month wording rule. Others have changed over. If you’re unsure, it’s best to expect both to follow the 48+ month rule.
This adds to the already difficult 5/24 rule that is in place, where individuals who have opened 5 or more credit cards (from any bank) within the last 24 months are ineligible for most Chase credit cards. That can add up to a lot of waiting for those who want to take advantage of great credit card perks and bonus points.
Does This New Rule Apply to All Chase Credit Cards?
No. At this point in time, it doesn’t apply to other Chase Ultimate Rewards Credit Cards. Currently, it applies to the Chase Sapphire Reserve® credit card. In addition, many Chase Sapphire Preferred® Card card application links have also been updated to reflect this new change.
Be sure to take a look at all application documentation before applying. Keep an eye out for changes that may occur with other Chase credit cards.
What Should I Do In Regards to These Chase Credit Card Applications?
If you have not hit the 5/24 mark, you may want to apply for the Chase Sapphire Preferred®—if you’re able to find an application that has the old 24-month rule wording. This will allow you to take advantage of the Chase Sapphire Preferred bonus points.
If you’re already at the 5/24 mark or still haven’t reached the 48 month waiting period timeline, you could consider getting another travel credit card altogether. This will allow you to take advantage of a different rewards perks program while you wait.
Here are some other travel credit cards to consider if you’re over 5/24 or are not eligible for the CSP or CSR due to the new 48-month language:
- Platinum Card® from American Express (60,000 bonus points after meeting the $5,000 minimum spend within the first 3 months)
- Citi Thankyou Premier Credit Card (60,000 bonus points after meeting the $4,000 minimum spend within the first 4 months)
- Starwood Preferred Guest American Express Luxury Card (100,000 bonus points after meeting the $5,000 minimum spend within the first 3 months)
These above cards are ranked high in the bonus points world. Before applying, be sure to understand all terms of these cards. Learn about how to best redeem points so that you can maximize your savings.
Bottom Line on the Chase Credit Card Applications Change
These are the most recent changes that impact the Chase Sapphire Preferred and Chase Sapphire Reserve Chase credit card applications. While these changes may require you to wait a bit longer to take advantage of great perks, both cards still offer great benefits.
It’s always a good idea to stay up to date on credit card application rules and regulations so that you can maximize your points rewards. It’ll help you get the best possible credit card for your needs.
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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.