The Chase Sapphire Preferred® Card and the Chase Sapphire Reserve® are two iconic cards when it comes to the world of credit cards and credit card points. These cards historically have offered high welcome bonuses in addition to their individual card benefits and perks. But did you know that you can earn the welcome bonus again?
Chase has a few rules when it comes to their credit card welcome bonuses and some that apply specifically to their Sapphire products. Some are published and some are unpublished but are well known in the credit card world.
Sapphire 48-Month Rule
The Chase Sapphire Preferred® Card and the Chase Sapphire Reserve® are in the “Sapphire” family. You are eligible for another Sapphire sign up bonus once every 48 months from your last Sapphire sign up bonus. This is why it is always recommended to get the Chase Sapphire Preferred® Card or the Chase Sapphire Reserve® as soon as possible so you start that 48 month clock.
Just to specify, you’re eligible for another welcome bonus 48 months from when you earned your last Sapphire welcome bonus and NOT when you apply or are approved for the card.
The easiest way to find out when you earned your last Sapphire bonus is to send Chase a secure message in the Chase app or website after you log into your account.
This Sapphire 48 month rule applies to the family of Sapphire cards. This means that if you get the welcome bonus for the Chase Sapphire Preferred® Card, you’re also ineligible for the Chase Sapphire Reserve® welcome bonus for another 48 months as well. So make sure you choose the one with the highest welcome bonus AND the right benefits that meet your needs.
One Sapphire Rule
In addition to this rule, you can only be eligible for another Sapphire card if you currently do not hold a Sapphire card. This includes the Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, or the plain Sapphire. This means you need to downgrade or cancel your current Sapphire card to a no annual fee Chase Freedom Flex℠, Chase Freedom Unlimited®, or Legacy Freedom card. Read the full downgrade guide here.
One of the most common pieces of credit card advice no matter where you go is that you should always start with Chase credit cards first. In addition to that, one of the most recommended cards from Chase is the Chase Sapphire Preferred® Card. But why?
There are three main reasons which contribute to these recommendations. The first reason is the “5/24 Rule”. The second, is that their Sapphire cards have a 48 month cooldown window between welcome bonuses and it is advantageous to start the clock on these cards soon as possible. Third reason is that with the Chase Sapphire Preferred® Card earns you Ultimate Rewards points which can be transferred to 14 different airline and hotels. This makes Chase points highly flexible and thus valuable.
What’s the 5/24 Rule?
The 5/24 rule is an unofficial Chase rule which dictates that if you’ve been approved for 5 or more personal credit cards within the last 24 months, your next credit card application with Chase will be automatically denied. Additionally, being added as someone’s authorized user (AU) will also contribute to your 5/24 count. Lastly, business cards from Capital One, Discover, and TD Bank have historically also added to your 5/24 count.
This rule is important because if you don’t focus on Chase cards first, you may be “locked out” of Chase cards for a while, until you’re under 5/24.
Chase Ultimate Reward Points Flexibility
Chase Ultimate Reward Points are one of the most flexible credit card points out there. With 14 different airline and hotel transfer partners, there are a ton of options in terms of utilizing Chase points for travel whether internationally or domestic. There’s a reason Chase points are a fan favorite.
So Why The Chase Sapphire Preferred?
Many people who start out playing the credit card game are turned away by credit cards with a high annual fee such as cards like the Chase Sapphire Reserve® which comes with an annual fee of $550. The Chase Sapphire Preferred® Card requires little investment while giving you outsized returns.
1. Low Cost
With a low annual fee of $95, the Chase Sapphire Preferred® Card is easy on the wallet. While no annual fee cards are nice since there is no investment requirement on your behalf, they provide very little.
2. High Return
The Chase Sapphire Preferred® Card currently is offering a welcome bonus which can give you a return of about $1,000 in travel redemptions.
3. Transfer Partners
Transfer partners are various airlines and hotels which you can transfer your Chase Ultimate Reward points to in order to book award flights or stays with that partner. This is valuable since you can get much more value through travel partners than by booking through the Chase Travel Portal.
Chase currently has 14 different airlines and hotel programs that you can use your points with! However, in order to transfer to these partners, you need to have the Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, or the Chase Ink Business Preferred® Credit Card.
4. Great Benefits and Protections (Full Guide of Benefits Here)
Primary Car Rental Insurance: How many of you pay for car rental insurance out of pocket? Did you know the Chase Sapphire Preferred® Card provides you with PRIMARY car rental insurance at no additional charge? This means that if anything happens to your rental, Chase can take care of the bill for you.
Trip Cancellation/Interruption Insurance: Per Chase, “If your trip is canceled or cut short by sickness, severe weather and other covered situations, you can be reimbursed up to $10,000 per person and $20,000 per trip for your pre-paid, non-refundable travel expenses, including passenger fares, tours, and hotels.”
Baggage Delay Insurance/Lost Luggage: Did your bag not make it to your final destination due to a delay or just totally lost? You can get reimbursed for clothing, toiletries, and more.
Purchase Protection: By using your Chase Sapphire Preferred® Card, your new purchases have an additional 120 day protection against damage or theft up to $500 per claim.
Extended Warranty: The Chase Sapphire Preferred® Card will also extend your U.S. manufacturer’s warranty by an additional year at no cost to you, on eligible warranties of three years or less.
These are just SOME of the hefty benefits and protections you will automatically get just by having the Chase Sapphire Preferred® Card. For a full list of benefits, check out the Guide of Benefits Here.
5. Downgrade Paths
While it’s unlikely that you’ll want to get rid of this card, sometimes life happens and you simply can’t afford the $95 annual fee. Whatever the case, know that there are a few no annual fee cards that you can downgrade your Chase Sapphire Preferred® Card to. Don’t worry, you’ll still keep your points! Read the full downgrade strategy here.
Final Thoughts
If you’re considering your next credit card or even just starting into the credit card game, the Chase Sapphire Preferred® Card is a card that you won’t regret getting. It’s a great starting point for almost anyone and it remains a fan favorite to those that have it. From the low annual fee to high welcome bonus, there is a lot to gain. The Chase Sapphire Preferred® Card has a ton of solid travel protections and benefits that can save you a lot of time and stress while on trips.
There is a reason everywhere you turn the Chase Sapphire Preferred® Card is one of the first cards you’ll see be recommended. Right now is one of the best times to grab this to start your 48 month clock. Our affiliate link is below!
