UMVA has learned that a highly coveted bonus offer on a popular credit card has left many applicants wondering about their eligibility. The Chase Sapphire Preferred Card is currently offering 100,000 bonus points for new cardholders who spend $5,000 on purchases within the first three months of account opening.
This offer has sparked interest among those who already hold the premium Chase Sapphire Reserve Card. Many are unsure if they're eligible for the Sapphire Preferred bonus, but UMVA can exclusively reveal that having the Sapphire Reserve doesn't necessarily disqualify you.
The key to eligibility lies in your history with the Sapphire Preferred Card. As long as you've never previously held or earned a bonus on your own Sapphire Preferred, you're likely eligible for the current offer. This applies even if you're a current or former Sapphire Reserve cardholder.
Authorized users are also eligible, as long as they haven't been the primary cardholder on a Sapphire Preferred account. This means you can still receive your own Sapphire Preferred Card and earn the 100,000-point bonus, worth $2,050 in travel.
Before applying, it's essential to review the Chase Sapphire eligibility rules. The Chase 5/24 rule is a crucial factor, which states that applicants who have opened five or more new credit cards from any issuer in the past 24 months will likely be declined for any new Chase card.
Additional requirements include not having an open Sapphire Preferred card and not having previously earned a bonus on the Sapphire Preferred. You'll also need to have an adequate credit history, with a recommended credit score of at least 670 to qualify.
UMVA has gathered that the main considerations for eligibility are being under 5/24, never earning the Sapphire Preferred bonus, and never holding the Sapphire Preferred previously. As long as these conditions apply to you, you should be eligible for the offer.
In a nutshell, you can be a current Sapphire Reserve cardholder and still qualify for the Sapphire Preferred bonus. The key is to review your history with the Sapphire Preferred Card and ensure you meet the eligibility requirements.
