Have the Sapphire Preferred? You Might Still Be Eligible for 100K Points
Chase Sapphire Preferred Card scaled e1624974034412

Already Got the Chase Sapphire Preferred? You May Still Be Eligible for 100K Points

This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. For more information check out our Advertising Disclosure.

Earlier this month, Chase Bank sent shockwaves through the travel world by introducing a 100,000 point welcome bonus offer on the Chase Sapphire Preferred Card after spending $4,000 in the first three months of card membership.

That’s the biggest and best bonus we have ever seen – not just on the Sapphire Preferred, but for any travel rewards credit card, period. That 100,000-point bonus is worth at least $1,250 and potentially much more. Not bad for a card with an annual fee of only $95, right?

To earn that bonus, you need to be eligible, and Chase is notoriously stingy when it comes to approving credit card applicants. But just because you’ve already got the Chase Sapphire Preferred in your wallet doesn’t mean you can’t earn this massive new bonus. It depends on how long ago you earned the bonus on your Sapphire Preferred Card the last time around.

Keep reading for everything you need to know.

 

chase sapphire preferred

 

Click Here to learn more about the Chase Sapphire Preferred Card.

 

Eligibility Requirements for the Sapphire Preferred 100k Point Offer

Before you apply for the Chase Sapphire Preferred Card (or any Chase credit card for that matter), you’ll want to make sure you meet all of the eligibility requirements to get approved.

But most importantly, make sure you can be responsible with a credit card. Credit card debt is a massive problem in the U.S. You should never spend money on a credit card that you can’t immediately pay off. No matter how big the bonus might be, it’s not worth making interest payments or digging yourself into a hole of debt.

From there, here’s what to keep in mind:

Read more: Are You Eligible for the Chase Sapphire Preferred’s 100K Bonus?

If you meet all of these requirements, you should be eligible to earn the current 100,000-point bonus on the Chase Sapphire Preferred. And that’s true even if you already hold the Sapphire Preferred (or Sapphire Reserve).

 

How Current Cardholders Can Earn the 100k Bonus

If you already have the Chase Sapphire Preferred Card or the Chase Sapphire Reserve, and it has been four or more years since you last earned a sign-up bonus on either card, there is a workaround that you can use to take advantage of this biggest ever offer.

By simply calling the number on the back of your Chase Sapphire card, you can request to downgrade your card to one of the no annual fee Chase Freedom Cards – either the Chase Freedom Unlimited or the Chase Freedom Flex.

 

Chase Freedom Flex Vs Freedom Unlimited

 

By downgrading to one of the Chase Freedom cards, you’ll keep any Chase Ultimate Rewards points you are holding in your account intact. And even if you already have one of the Chase Freedom Cards, Chase actually allows you to hold both of them at the same time, so you can downgrade to the version you are not currently holding.

Once that downgrade has been completed, you can then reapply for the Chase Sapphire Preferred with the current 100,000-point offer, as long as you meet the application requirements outlined above.

We recommend waiting at least two weeks before reapplying for the card. This should ensure that Chase doesn’t have any record in their systems of you still having a Sapphire Card open.

 

chase sapphire preferred 100k bonus

 

Once you apply and are approved for your new Chase Sapphire Preferred Card, you can then transfer those points from the Freedom Card you downgraded to back to your new Chase Sapphire Preferred Card. Doing so will pool all of your points into one balance and ultimately make them worth more.

 

chase sapphire preferred

 

Click Here to learn more about the Chase Sapphire Preferred Card.

 

Bottom Line

Even if you currently have a Chase Sapphire Preferred or Reserve card, you might still be eligible to take advantage of the current 100,000 point offer.

Just make sure you haven’t earned a bonus on either card within the last four years and meet all of the other eligibility requirements.

 

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

Leave a Reply

Your email address will not be published. Required fields are marked *