The rollout of the new *chase sapphire reserve* this week was supposed to be paired with even better news: Softening Chase's notoriously strict eligibility requirements, potentially making it easier for current Chase cardholders to open and earn a (record-setting) bonus on the bank's flagship travel card.
The reality, however, is mixed. Maybe. Honestly, we're not quite sure yet.
Chase has officially ended the longstanding “one Sapphire card” limit, allowing travelers to open and hold the *chase sapphire preferred* and the new Chase Sapphire Reserve® simultaneously. But that doesn't mean current Sapphire Preferred cardholders can go snag the new 100,000-point bonus (plus a one-time $500 Chase Travel℠ credit) by applying for the Reserve.
Instead, Chase terms and conditions indicate the bank is actually making it harder to earn more bonuses, including:
- “This credit card is unavailable to you if you currently have one open,” so current Reserve cardholders can't open the card again. No surprise there.
- “The new cardmember bonus may not be available to you if you currently have any other personal Sapphire cards open,” so a traveler who already has a Sapphire Preferred card can't – or probably can't? – earn a bonus on the new Sapphire Reserve.
- “The new cardmember bonus may not be available to you if you … previously held this card,” so anyone who previously opened the Reserve Card or upgraded a Sapphire Preferred card won't be eligible to earn the bonus.
- “The new cardmember bonus may not be available to you if you … received a new cardmember bonus for this card,” specifically calling out previous Reserve cardholders who earned a bonus in the past.
- “We may also consider the number of cards you have opened and closed, as well as other factors in determining your bonus eligibility,” a nod to the bank's notorious 5/24 rule … without spelling out exactly what they're looking at.
But there are a lot of “mays” and “may nots” there, leaving the door open for some applicants to get approved while others get turned away. So what are the rules now, Chase?
The bank itself isn't spelling it out, telling Thrifty Traveler in a statement last week only that “New account bonus offer eligibility for either card will be based on factors including previously earned bonus offers and the number of cards opened and closed, among others.”
At the very least, a new pop-up notification during the application process could eliminate some of the guesswork. Chase rolled out that new system Monday in tandem with its pricier Sapphire Reserve and the new *Sapphire Reserve for Business*. That way, you can back out of an application – without triggering a credit pull – if Chase decides you're not eligible for the bonus.
But it's not perfect. Our co-founder Nick was flat-out rejected for the Sapphire Reserve earlier this morning without getting the chance to withdraw his application – or any rationale for the denial.
Put it all together, and it seems like Chase is taking a page out of Amex's book and backing away from the hard-and-fast restrictions like the 5/24 rule and 48-month restriction – which bars cardholders from earning bonuses on both Sapphire Cards within a four-year period – in favor of deciding which applications to approve or reject on a case-by-case basis. After all, that new pop-up is a dead ringer for Amex's “Apply with Confidence” tool.
That may make it easier for some travelers to get approved for a new Sapphire Card, harder for others … and, perhaps most importantly, a bit unpredictable. For now, travelers anxious to figure out whether they're likely to be eligible to earn another bonus may need to give it some more time for additional datapoints to filter in.
Bottom Line
We had high hopes that Chase's new rules for Sapphire Card eligibility would be a win. For now, the jury is out.
With the pricier Chase Sapphire Reserve officially on the market, it's unclear exactly how Chase is handling applications, eligibility, and deciding who can get a bonus and who cannot. A new pop-up system should allow some (but not all) travelers to back out of their application if a big bonus isn't in the cards.
Not sure why you indicated that Amex doesn’t allow cardholders to have Platinum and Gold at same time. I applied separately and have both Platinum and Gold. Amex did not give me any problems during the application process. I’ve had platinum for over 20 years.
It’s more nuanced than that. Within the last few years, American Express has rolled out a restriction that blocks you from earning a bonus on a lower-tier card. So while you can open an Amex Gold and earn a bonus, then do the same with the Platinum Card. But you can’t do that in reverse.