Everything You Need To Know To Get The Credit Card Deal Of The Decade: FAQs On Becoming Eligible For Sapphire Preferred’s Incredible 100,000 Point Sign Up Bonus Before It’s Too Late!

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Chase currently has the deal of the year, offering an unprecedented 100,000 points if you open a $95/year Chase Sapphire Preferred Card and spend $4,000 in 3 months. Those 100K points are worth $1,000 cash, $1,250 cash towards any dining, grocery store, or home improvement purchases, $1,500 if you or a spouse also have or will have a Sapphire Reserve, or $2,000 or more as potentially lucrative airline miles or hotel points.

With hundreds of reader comments and questions on the original post and on a follow-up post, I’ll try to tackle some of the most common questions.

Am I eligible to sign up?

  • How do I know if I’ll be eligible to signup for a Sapphire Preferred card and get the bonus?
    • You need be under 5/24, or have been approved for fewer than 5 new credit cards in the past 24 months.
    • You need to have waited 48 months since your last signup bonus on any Sapphire card.
    • You can’t currently hold any primary Sapphire card.
  • How do I know if I’m eligible to open a card due to 5/24 restrictions?
    • If you have opened 5 or more credit cards in the past 24 months, Chase’s system will deny you for another Chase card. Only cards that you were approved for count towards this number. Business cards from most banks (Discover and Capital One are exceptions) don’t count towards your 5/24 count. You can check all 3 of your credit reports (Experian, Equifax, and Transunion) for free every week on annualcreditreport.com. You can scroll through your open card accounts and see how many cards have been opened within the past 24 months. Be sure to check if some of those cards are Authorized user cards or store cards that are only good for use in a single store. The system may deny you for 5/24 as it counts those cards, but if you call Chase you can explain that you are not financially responsible for the authorized user card or that the store card only works at a single store and they can manually exclude those from your 5/24 count.
  • How do I know if it’s been 48 months since I last got a Sapphire bonus?
    • If you still have the card open as a Sapphire card if you downgraded it to a Freedom card you can go back to your old statements on Chase.com and check when you got the last signup bonus.
    • If you have closed the card, there doesn’t appear to be a way to check when you last got the bonus, so you’ll just have to apply and see if you get approved. Update: A commenter notes that you can send a secure message to Chase with your closed account number and ask when you got the signup bonus on the card.
  • Can 2 spouses both apply for this offer?
    • Of course! 2 player mode is why my wife and I got married at 21 and 23 😀
  • I’m an authorized user on someone else’s Sapphire card, can I still get the bonus if I open a Sapphire Preferred?
    • Sure!
  • I currently have Sapphire, Sapphire Preferred, or Sapphire Reserve card open. Can I still get the bonus if I open a Sapphire Preferred?
  • I already have a Sapphire Reserve, Chase Freedom Visa, Chase Freedom Flex Mastercard, and a Chase Freedom Unlimited Visa, can I still open a Sapphire Preferred.
    • Sure, you can change the Sapphire Reserve to any of those cards, there is no limit to how many of the same card you can have. It’s more advantageous to have multiple Freedom or Freedom Flex cards than Freedom Unlimited cards as Freedom/Freedom Flex have quarterly 5x categories that max out at $1,500 in spending per quarter.

Offer details:

  • When will this offer end?
    • A date has not been announced and may not be announced, it can end at any time.
  • I applied for this offer with a link that offered fewer than 100,000 points, will I still get 100,000 points?
    • No, Chase is not matching offers for Sapphire, you will get the points stated on the application. If you use our link for the Chase Sapphire Preferred Card you will earn 100,000 points as well as our thanks for helping support DansDeals. 🙂
  • I was approved for the Sapphire Preferred card. If I spend $4,000 in 3 months will I get the 100,000 point bonus?
    • Yes. If you are not eligible for the bonus you won’t be approved, so if you’re approved you will get the bonus!

Chase card conversions/product changes:

  • Which Chase cards allow product changes and how often can you change?
  • Is there a credit pull for changing from Freedom to Sapphire or vice versa?
    • No.
  • If I change my Sapphire Reserve card to a Freedom card, will I get a refund of the annual fee paid?
    • You will get a pro-rated refund based on when your annual fee was charged. In other words if your annual fee posted 5 months ago, you would get back 7/12ths of the annual fee.
  • Can I downgrade my Sapphire Preferred card to a Freedom card after getting the bonus?
    • Some reps may allow this, but it’s a good idea to keep new cards open for at least 12 months as banks frown upon people that open and close cards right after getting the bonus. Banks have been known to take adverse actions, like shutting down all of your accounts if you do that. You can always just wait until the 2nd annual fee is posted after a year and decide what to do at that point as you have 30 days to cancel from when it’s billed and still get a refund of the fee.
  • Can I get a signup bonus if I upgrade from a Freedom card to a Sapphire card.
    • No, you need to apply for a new card to earn a signup bonus.
  • If I change my Sapphire Reserve card to a Freedom card, will I be able to change it back to Sapphire Reserve?
    • Sure, the only requirement is that you can’t open a Sapphire card if you have an existing Sapphire card open. Once you are approved for a Sapphire Preferred card you can change the Freedom card back to another Sapphire Reserve card and hold multiple Sapphire cards. The annual fee will be charged when you upgrade, so you save on the annual fee for the time it was downgraded.
  • I didn’t wait 2 days between changing my Sapphire card to a Freedom card and applying for a Sapphire Preferred card. What do I do now.
    • Just wait 2 days from when you changed cards and then apply again.
  • What happens to my Sapphire Ultimate Rewards points if I change to a Freedom cash back card?
    • The Freedom cards are marketed as cash back cards, but they actually earn Ultimate Rewards points that can be cashed out at 1 cent each. When you change cards your points remain the same Ultimate Rewards points, except that Freedom cards don’t have the ability to transfer points into airline miles or hotel points and they don’t have the Pay Yourself Back option to redeem your points to offset any dining, grocery store, or home improvement purchases at a rate of 1.25 or 1.5 cents per point. However you can always transfer your points from a Freedom card to any other Chase card that earns Ultimate Rewards points or you can call Chase to transfer points to a spouse’s card.
  • Will my credit card number change if I switch from a Sapphire Reserve card to a Freedom card?
    • Sapphire Reserve cards are Visa cards, so if you switch to a Freedom Visa or Freedom Unlimited Visa your number won’t change. If you change to a Freedom Flex Mastercard your card number will change.
  • If I change my Sapphire Reserve card to a Freedom card, will I still be able to get a Freedom bonus in the future?
    • Yes. The rules for the Freedom Flex Mastercard and the Freedom Unlimited Visa are that you can’t currently have that exact card type and you didn’t get a bonus on that exact card type in the past 24 months. If you change a Sapphire Reserve card to a Freedom Flex Mastercard and decide you want to open a Freedom Flex Mastercard in the future, you would just need to change your existing Freedom Flex Mastercard into a different Freedom or Sapphire card. There are no “family” rules when it comes to Freedom cards like there are with the Sapphire “family” where you can’t have any existing Sapphire cards or can’t have gotten a bonus on any Sapphire card within 48 months.
  • If I earned 3 points per dollar for travel on Sapphire Reserve purchases and downgrade to Freedom in middle of a billing cycle, will I lose those triple points?
    • No, points are awarded for what the card was at the time of the charge.

General Chase card info:

  • Is there a limit on how may Chase cards you can have?
    • I currently have 16 personally, I’ll let you know when I figure this one out!
  • Can I transfer the 100,000 point Sapphire Preferred bonus to my spouse’s Sapphire Reserve card where they will be worth more?
    • Sure, just call Chase to make that transfer. Or you can both get a Sapphire Preferred by changing the Sapphire Reserve to a Freedom card and upgrade back to Sapphire Reserve later on.
  • I was told that Chase will let me know if I’m approved for the Sapphire Preferred card, now what?
    • You can either wait and see what they say, typically within 2 weeks, or you can call Chase to see if you can expedite the process. If you do call Chase be sure to explain why you want a Sapphire card (it’s great for travel and everyone wants to go back to traveling after the pandemic!) and that you’re willing to close an older card or shift credit lines from an older card to get approved. There is no credit pull to shift over credit lines to get a new card approval.
  • If I apply for a Sapphire Preferred card but get denied as I got a Sapphire bonus within 48 months or currently have a Sapphire card, will that hurt my credit?
    • No, as Chase will not pull your credit in those cases and will automatically deny you.
  • Can I apply for 2 Chase cards on the same day with 1 credit pull?
    • Yes, and there are lots of great options, including United, Southwest, and more.
  • How do I spend $4,000 in 3 months?
    • Pay your regular charges and bills.
    • Prepay upcoming bills or pay your utility bills in advance.
    • Buy gift cards from stores you shop at.
    • Make a charity donation.
    • You can pay your federal taxes for a 1.96% fee. If you overpay your taxes you can request a refund or apply it to your next year’s taxes.
    • Share your ideas below!
  • Do the points ever expire?
    • As long as you have an open Chase card with Ultimate Rewards points, including no annual fee Freedom cards, your Ultimate Rewards points will never expire. If you want to close a card you can transfer your points over to any of your other Chase cards with Ultimate Rewards points or to your spouse’s Chase cards with Ultimate Rewards points. Or you can change your card into one without an annual fee to keep your points alive for free.

Have more questions? Hit the comments!

Leave a Reply

155 Comments On "Everything You Need To Know To Get The Credit Card Deal Of The Decade: FAQs On Becoming Eligible For Sapphire Preferred’s Incredible 100,000 Point Sign Up Bonus Before It’s Too Late!"

All opinions expressed below are user generated and the opinions aren’t provided, reviewed or endorsed by any advertiser or DansDeals.

Al

If I product change my CSR to a Freedom, would I receive a prorated credit for he $450 fee I paid?

James Finlay

I paid my CSR fee ($450) in October 2020. When I called to downgrade yesterday to Freedom Unlimited they said they could not prorate it since it was too close to the renew date.

Myl

Thank you for your request.

We need to review your request a little longer. We will let you know of our decision as soon as possible.

Thank you for choosing the Chase Sapphire Preferred Card

What does this mean

Lbw

FYI I was told this offer doesn’t work when someone refers you. If you are referred the offer is 80K + $50 grocery credit.

Joe Klein

So, my question is as follows I recently got the Sapphire preferred about 23 months ago already got my spending bonus my wife got hers a year ago but for whatever reason we didn’t spend the amount of money at the required time and therefore she missed out on a bonus. Are you saying per the above that she can go ahead and downgrade her preferred for a other Chase Visa card, wait a few days and apply and get the preferred again and be eligible for the sign on bonus? The only reason why I’m asking is when I spoke to Chase about my own credit card and mentioned you couldn’t get the sign on bonus if you got the bonus within 24 months (I guess in my wife’s case that’s not relevant)

Isaac

“If I change my Sapphire Reserve card to a Freedom card, will I be able to change it back to Sapphire Reserve?
Sure, the only requirement is that you can’t open a Sapphire card if you have an existing Sapphire card open. Once you are approved for a Sapphire Preferred card you can change the Freedom card back to another Sapphire Reserve card and hold multiple Sapphire cards. The annual fee will be charged when you upgrade, so you save on the annual fee for the time it was downgraded.“

If I do this process and get charged with the annual fee when upgrading back to the reserve, will I be getting another $300 travel credit? I already got $300 for 2021 before downgrading, will I get once again to offset the $550??

Gittel

Will I ever be approved for a Chase card is I left a open balance years ago? My credit is now great bh

Y

One question I didn’t see answered – if I’m still currently paying the lower $450 fee for the Sapphire Reserve, I assume I’ll lose that if I would downgrade, and then have to pay $550 if I upgrade again, correct?
Wish there was some way around that, but not sure I can really justify the $550 fee for the Reserve, hoping to book a few things soon anyway and then possibly downgrade until I need the higher value again later on.
Thanks Dan for all your info and expertise!!

Alex Perdomo

“How do I spend $4,000 in 3 months?”

Can paying off another credit card count toward spending $4k?

a

you can put money in your grocery account

BT

Great post

Are you sure it’s only 30 days to get back the AF? I’ve always been told by multiple reps that I have 42 days.

DROPR?

Love hacks

I called chase to ask about downgrading my reserve and then applying in order to get the signup bonus. He said I’d have to wait 30 days before applying as opposed to 2 as mentioned in the post. Has anyone done it in two days and been successful?

Pinny

Downgraded Friday about 7pm EDT. Applied with DD’s link on Sunday 2am and received the “We need to review your request….” message. Called them Sunday PM and found out that I needed to move around some credit. Did so and was approved by 3:30pm. All over 2 days but in less than 48 hours.

Thanks, Dan!

Eitan cooper

What if I got a signup bonus for one of the business cards that gives UR (ink etc)

Nina

Let’s say I convert the sapphire reserve to a flex card. If I’m not approved for the preferred card, can I convert the flex card back to the sapphire reserve?

Mootkim

Will business app and reg app in 1 day be one pull as well?

ag

Please let us know if it was 2 pulls.

Mootkim

When going back in the statements on chase to see if its 48 months, do you go by the day the statement closed where you earned the bonus during that billing period?

jonny

So if I downgrade my CSR to a freedom then get CSP, how long after thE SUB can I convert back to CSR? And which card would I convert back to CSR, the downgraded freedom or the new CSP? I’d assume freedom so as not to mess with avg credit age?

YY

do I have to wait 24 months from when I received my chase Sapphire card OR from when I received the bonus points (3 months later when i did my spending)

Kivi

Will closing an credit card help for 5/24 ?

Dov

I downgraded my CSR to a freedom unlimited and then got the 80k offer…. can I upgrade my new CSP to a CSR right after I get the bonus?

PM

What happens to my Sapphire Ultimate Rewards points if I change to a Freedom cash back card?

Does this mean if I want to downgrade after 12 months my points can’t be used for travel hotels Etc?

Pin

Applied thru an 80k link, application pending, anyway to cancel so I can get the 100k?

Zaltz

“Can I apply for 2 Chase cards on the same day with 1 credit pull?
Yes, and there are lots of great options, including United, Southwest, and more.”

Dan, did you hear of any first hand experience about that in recent applications?
Cuz I’ve heard from several that for the past few months already chase hasn’t been combining inquiries.

Tyvm

Zaltz

Can transferring credits from different cards help to bypass the 5/24 rule?

ETL

I have a Sapphire Reserve but haven’t gotten a bonus in over 4 years. Can I change it to another card, and transfer my current points to the other card, and then apply for the Sapphire Preferred to get the 100,000 points, and after getting the 100K points, will Chase let me change the Sapphire Preferred Card to the Sapphire Reserve Card after 3 months so I can move the points back to the Reserve Card where they are worth more, or will I have to wait a year to change it back to the Reserve Card?
Another option…, could I then cancel the Preferred Card after getting the bonus and then apply for a Sapphire Reserve Card knowing that I will not get a bonus from it just so I can move the points back to the Reserve where they are more valuable?

ag

@dan if want to take advantage of 2 cards with 1 credit pull, what would you recommend?

Zaltz

Please let us know if it pulled one or 2 inquiries

Tyvm

YP

I recall reading from one of your recent posts that there isn’t any credit pull for applying for Chase Sapphire, when did this change that there is indeed a credit pull?

Pointer

That’s if it’s within 48 moths of your previous SUB.

1991

Once upon a time this card had an extra bonus for adding a AU.
Does that still exist?

Eh

Hi Dan
Thanks for all the info you are providing

If i downgrade my CSR to a freedom do i loose the benefints/perks. Tsa-pre.. Priority pass.. etc ?

Ryan

I called chase and they said I have to wait two billing cycles before I apply to the preferred after I downgrade, has any one heard this too?

Ryan

I have the old freedom and freedom unlimited, can I still downgrade to flex?

Mo

If I opened a United card and Freedom Flex 2 weeks ago, will Chase approve another application so soon after? I think I remember reading that they won’t approve you for 2 cards within 30 days (2BM notwithstanding) but I’m wondering if anyone has data points for this.

Mo

*3 cards within 30 days

PS

Hey Dan!

I don’t have any cc myself however I’m an authorized user on a few cards including a Chase Freedom and Sapphire Preferred.
My credit score is “Excellent” but that’s obviously not really based off myself.

I’ve always been told that Chase wouldn’t approve someone for a card if they never had one.
Do you know this to be true, and if false, would they approve me for a Sapphire Preferred as a first card?

Thank you!

Gabe

Had a family member with same thing and they were able to get approved after calling in so definitely possible

Moish

These 2 points seem contradicting, 1st states if have Sapphire Reserve wont be approved and below says no limit to how many of same card can have

I currently have Sapphire, Sapphire Preferred, or Sapphire Reserve card open. Can I still get the bonus if I open a Sapphire Preferred?

You won’t be approved if you have any of those cards currently open. However you can call Chase to cancel or to change those cards into cards like Chase Freedom Visa, Chase Freedom Flex Mastercard, or Chase Freedom Unlimited Visa and then you apply for a Sapphire Preferred after waiting for 2 days after you change to those cards. You can read more about those card options here and more about creating a Chase Quinfecta here.

I already have a Sapphire Reserve, Chase Freedom Visa, Chase Freedom Flex Mastercard, and a Chase Freedom Unlimited Visa, can I still open a Sapphire Preferred.

Sure, you can change the Sapphire Reserve to any of those cards, there is no limit to how many of the same card you can have. It’s more advantageous to have multiple Freedom or Freedom Flex cards than Freedom Unlimited cards as Freedom/Freedom Flex have quarterly 5x categories that max out at $1,500 in spending per quarter.

Miri

Hi I got a chase sapphire card around three months ago and I just hit my bonus to get 60,000 points if I spend 4,000 dollars. I’m just wondering do you know if chase will Give me the 100,000 points with this deal for spending 4,000 dollars?
Thank you!

ag

@dan I want to apply for 2 cards in one day, don’t have any other chase card yet, what would you suggest?

Mg

Is there any way to get the sapphire reserve bonus and preferred bonus?

Sam

Hey Dan
Downgraded from Sapphire to Freedom 2 days back and applied today for new Sapphire – got denied – called Chase and was told that the earlier Sapphire card was still showing in the system. Annual fee which was charged on the old one was fully refunded in the new freedom card.
Will this be a hard pull on my credit score and count towards 5/24 rule? When can I reapply again for new Sapphire?

joe

if my credit score is 735 will I be approved?

joe

i applied more then a week still didn’t get an answer any advice ?
how much do i have to make a year ? can i say what ever i want, are they checking it up ?

Chase guy

If i was shut down by chase how long do i have to wait before i can apply again? Its around 18 months since they closed all my accounts

Jake p

If I downgraded on Thursday night, do I need to Waite 2-3 business days or just 2-3 days?

CSR

Applied today (after downgrading Thursday) and got the 2 week message. Worth calling or wait it out?

CSR

Called and approved after moving credit. Used your link, thanks Dan!

Meir

Hi, you mention that if I currently have a Chase Sapphire I need to change it to a Chase Freedom in order to get a Sapphire Preferred and get this bonus. How about changing my Chasa Sapphire to a Chase Slate? If I can do that how long will I have to wait from the day I make the change till I can apply for the Sapphire Preferred?
Thank you!

dyb

when calling go straight to verifications 1800 278 8830 be warned wait time can be 2 hours

mm

I applied using the 80k link. Got a message that they are reviewing my application for fraud. Can I cancel that application and reapply using the 100k link? What do you suggest?
Thank you.

Sam Hirsch

I have csr and sp. if I downgrade my sp to a freedom, can I apply for the sp again? I got the bonus on the current sp over 48 months ago. But the csr was within that time frame. Tia

Shlomy Kaff

When does the 3 months of spending start? from the day i was approved or from the day i got my card?
any way to see like an end date?

yml

i got referred to the card and the application only says 80000 will i still get the 100000

Joe

I want to get the reserve but want the points for this offer. What should i do. Better to get this out just get reserve. ?

CB

My wife is a authorized user on my preferred card. Now she just applied for her own preferred card and got excepted (@dan enjoy the 10.000 points), will it hurt in any way if she adds me as a authorized user to her card?

First Credit Card

Would I get approved for the CSP if it would be my first credit card? If not would the discover it be the best first card? And how long would I have to wait between getting my first card and getting approved for the CSP?
Thanks Dan!

DT

Went to branch to apply. I have a CSR and after the baker called his cc support line it was mentioned to him that I have to wait 30 to 45 days after product changing before applying for the preferred again. 30 to 45 days.. that’s a lot longer than 4 to 5 days.

Rachel

Applied and got a denial because they said that I opened a sapphire card within 48 months. I called reconsideration, because I DID NOT open a sapphire card within 48 months and they said to speak to customer service, who did not see any card that I opened within 48 months, and they said that I can only mail or fax a letter to investigate. They said maybe I opened and closed one, so it would be purged from the system, which is not true. Do I really have to fax a letter and wait or do you recommend anything else. Reconsideration said they can’t help because they are getting the 48 month message. Ty

Beth

My credit score is 684, do you think that is too low to get approved?

Chase

After downgrading the Reserve to a Freedom and getting the Preferred – how long do I have to wait to upgrade the Freedom back to a Reserve (and hold two Sapphires)? A rep told me 12 months. Is that true?

Shloimy

I applied for this card, and Chase declined my application, stating that ‘I have to many accounts open, or too much credit’ I only have 3 cards opened more than 2 years ago, + being an additional on a Chase Sapphire already, and my spending is no ore than 10-5% of total credit.
Should I apply again?

joe horn

if my credit score is 735 will I be approved?

r

If I got my CSP 35 months ago and its sign up bonus 33 months ago.
can I downgrade my CSP to a freedom card and then apply for CSP for this sign up bonus a few days later?

Jg

I have a regular Sapphire card from when I downgraded from the Preferred. Am I able to apply or do I first need to switch that to a Freedom?

Newboy

If I have a credit score of 640, should I bother signing up for this offer or I’ll for sure be declined?
Also, if I am declined does it make my credit worse?

Avrumi

I downgraded my sapphire preferred to sapphire about a year ago. Can I apply now for the preferred and get the bonus?

Moe

My wife was booted from Chase a few months ago. Do I have to wait any particular time to re-apply?

SARA

Will this offer also work for a business sap. pref.?

struggling

Hi. I have a very decent credit score over 760. My credit history is over 5 years. I just applied for the chase sapphire card, and I got declined. I called to reconsider, but the representative said that I have to have a chase account to be approved. Does it help to try to call again to speak with a different representative? I know someone who has a much lower credit score than me and has no chase account, and he got approved.

Chaya

Trying to apply for my 18 year old based on my income. Do I still lust primary source of income as “employed”

AE

If I applied while my credit was frozen and I got the ‘looking into it message’, once I unfreeze can I apply again online, or should I call and see if they will approve the application?

JF

Don’t reapply, had the same thing and was approved after unfreeze.

Ralph

If I got an email from chase that I’m preapproved does that mean I’m guaranteed to be approved?

Michael

I downgraded my Sapphire Reserve to a Freedom and got approved for the Sapphire Preferred. Thanks Dan. My question: I purchased tickets to Israel on my Reserve several months ago, which I canceled, and will use the credit towards a new ticket in fall/winter. If I don’t upgrade the Freedom back to a Reserve, will I enjoy the Travel benefits of the Reserve in place at the time I purchased the original ticket, or will Chase look at it as a Freedom purchase with little travel benefits? Thanks.

Rb

Does having an open JPMorgan reserve (formerly palladium) account prevent me from getting the bonus?

Jake

What if someone is on the forbearance program (with Chase specifically) on his mortgage, will they get approved?

Yaakov

I have the plain saphire card (not reserve or preferred) can I still get the bonus

Artie

Is it worth downgraded my reserve. I had this card card about 3 years now. And I always get my 300 credit Two times per year. My renewal is Dec. So basically I have another 300 annual credit coming coming Dec. Is it worth closing my card to get this 100k bonus.

Marc

Just a thought on the $550 fee. I’m not happy about it but on a recent pleasure trip I was going to get travel/evacuation insurance at a cost of over $250/pp. I believe that that coverage is included in with Preferred even when purchased with points. That could bring the real cost of the card down significantly. Is that your understanding, Dan?

Avraham

Hey Dan i applied for the chase Sapphire and I got denied because I had too many cc opened. I only have two that are mine the rest I am authorized user.so I called chase for reconsideration and they got back to me that I was denied because they have too little credit info on me because my two cc weren’t open long enough. Would it help if I would close one of my authorized user cc and apply again online? Thanks for your forum.

Naomi

I called chase to downgrade my card today. They told me as an FYI that chase changed its rules and if you got any sapphire card in last 4 years you can’t apply for any preferred or reserve and get the bonus. so I guess it’s more than the 48 months mentioned above?

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