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How I’m Getting a Chase Sapphire Preferred Welcome Offer Again

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Stella Shon
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Stella Shon

Senior Features Editor

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With a degree in media and journalism, Stella has been in the points and miles game for more than 6 years. She most recently worked as a Corporate Communications Analyst for JetBlue. Find her work in ...
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Michael Y. Park

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Michael Y. Park is a journalist living in New York City. He’s traveled through Afghanistan disguised as a Hazara Shi’ite, slept with polar bears on the Canadian tundra, picnicked with the king and que...
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Did you know it’s possible to receive a second welcome offer on the Chase Sapphire Preferred® Card?

As it’s one of the top travel credit cards — possibly the most popular out there — you might be curious to learn how this works.

Since the Chase Sapphire Preferred card was first introduced in 2009, many travelers have kept this card in their wallets for years, myself included. Now you could potentially score another welcome bonus offer on top of the one you initially earned. But you’ll want to brush up on Chase’s unique set of rules first.

With the Chase Sapphire Preferred card’s elevated welcome bonus offer, now could be a great time to see if you’re eligible. Here’s how I intend to take advantage of the opportunity to earn a second welcome bonus offer.

Rules on Chase Sapphire Preferred Card Welcome Offer

Chase has several rules that are important to know for its popular Chase Sapphire Preferred card. Carefully review each before applying for the card.

You Can’t Have More Than 1 Chase Sapphire Card

You cannot hold multiple cards within the Chase Sapphire family at the same time. In other words, having the Chase Sapphire Preferred card and the Chase Sapphire Reserve® simultaneously isn’t possible.

If you have one (or the other), you can request a product change by contacting Chase customer service, though you would not be eligible to earn the welcome bonus offer available for new applicants.

Hot Tip:

The above rule doesn’t apply to several other Chase credit cards. For example, you can apply for another family of Chase cards, like the Chase Freedom Unlimited® or the Southwest Rapid Rewards® Priority Credit Card, while having a Chase Sapphire Preferred card.

Chase’s 48-Month Welcome Bonus Rule

Another rule from Chase states you’re ineligible to receive a welcome offer on the Chase Sapphire Reserve card or Chase Sapphire Preferred card if you’ve already received one within the past 48 months.

This 48-month window applies to when you earned the welcome bonus offer, not when you applied for the card. This is a careful but important distinction to keep track of when applying.

Chase’s 5/24 Card Rule

Lastly, Chase also has an unofficial guideline that applies to any of its credit cards, known as the 5/24 rule.

Whether you’re applying for a Chase Sapphire Preferred card or another Chase product, you likely won’t get approved if you have applied for 5 or more credit cards from any issuer within the last 24 months, even if you have a good to excellent credit score. This limit likely exists so that people can’t apply for multiple credit cards in a short span just to earn the welcome bonus offer.

How I’m Applying for a Second Chase Sapphire Preferred Card

As you can see, the rules to qualify for a Chase Sapphire Preferred card are quite convoluted. That said, I’ve had this card for over 5 years now, which is outside the 48-month window imposed by Chase.

I’ve also applied for fewer than 5 cards in the last 24 months, which I confirmed by checking my credit report. Over the past 2 years — since October 2022 — I’ve applied for 4 credit cards, so I’ve got 1 more slot left under Chase’s 5/24 consideration.

Since I meet those key requirements, I need to downgrade my Chase Sapphire Preferred card to a no-annual-fee card, such as the Chase Freedom Unlimited card or the Chase Freedom Flex®. I’m downgrading my Chase Sapphire Preferred card rather than canceling it outright so I don’t lose the Ultimate Rewards points I’ve earned.

Chase Sapphire Preferred Sapphire Reserve Freedom Flex Freedom Unlimited at Beach Upgraded Points LLC 2
You need to downgrade your card before reapplying. Image Credit: Upgraded Points LLC

Then, I’ll submit a brand-new application as if I’ve never applied for the card before. Before I reapply, there are several user reports that discuss exactly how long you should wait, though most people suggest waiting at least a few weeks to reapply. Once I get approved, I’ll be able to transfer my Chase points back to my new Chase Sapphire Preferred card.

Bottom Line:

If you’re interested in earning a second Chase Sapphire Preferred card welcome offer, know that this is a lengthy process. However, I know that it will be well worth it to earn a sizable haul of points towards my next trip.

Chase Sapphire Preferred Card Benefits and Features

Right now, the Chase Sapphire Preferred card has an excellent new welcome bonus offer:

Earn 60,000 points after $4,000 in purchases in your first 3 months; plus, get up to $300 in statement credits on Chase Travel purchases within your first year.

This welcome offer is worth $1,500 according to our points and miles valuations. If you can meet the above conditions, it could make a lot of sense to apply for a Chase Sapphire Preferred card again.

OFFER ENDING SOON
Chase Sapphire Preferred® Card
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U.P. Rating 
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

A fantastic travel card with a great welcome offer, good benefits, and perks for a moderate annual fee.

Learn More(at Chase's secure site)
A fantastic travel card with a great welcome offer, good benefits, and perks for a moderate annual fee.
Get up to $1,050 in Chase TravelSM value. Earn 60,000 bonus points after $4,000 in purchases in your first 3 months from account opening. That’s worth $750 when redeemed through Chase Travel. Plus, get up to $300 in statement credits on Chase Travel purchases within your first year.
$300 Chase Travel℠ Credit + 60,000 bonus points
$1,500
$95
20.99% - 27.99% Variable
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent (670-850)

The Chase Sapphire Preferred® card is one of the best travel rewards cards on the market. Its bonus categories include travel, dining, online grocery purchases, and streaming services, which gives you the opportunity to earn lots of bonus points on these purchases.

Additionally, it offers flexible point redemption options, no foreign transaction fees, and excellent travel insurance coverage including primary car rental insurance. With benefits like these, it’s easy to see why this card is an excellent choice for any traveler.

Pros
  • 5x points on all travel booked via the Chase Travel portal
  • 5x points on select Peloton purchases over $150 (through March 31, 2025)
  • 5x points on Lyft purchases (through March 31, 2025)
Cons
  • $95 annual fee
  • No elite benefits like airport lounge access or hotel elite status
  • Get up to $1,050 in Chase Travel℠ value. Earn 60,000 bonus points after $4,000 in purchases in your first 3 months from account opening. That's worth $750 when redeemed through Chase Travel. Plus, get up to $300 in statement credits on Chase Travel purchases within your first year.
  • Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠. For example, 60,000 points are worth $750 toward travel.
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
  • Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2027.
  • Member FDIC
Financial Snapshot
  • APR: 20.99% - 27.99% Variable
  • Foreign Transaction Fees: None
Rewards Center

Chase Ultimate Rewards

Final Thoughts

Reapplying for the Chase Sapphire Preferred card can be a clever strategy to earn the welcome bonus offer another time. But it comes with many strings attached, so ensure you’re clear before pursuing this route. I’m looking forward to earning these bonus points once I’m approved, as I love to earn Chase Ultimate Rewards points for travel redemptions.

The information regarding the Chase Freedom Flex℠ was independently collected by Upgraded Points and not provided nor reviewed by the issuer.

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About Stella Shon

With a degree in media and journalism, Stella has been in the points and miles game for more than 6 years. She most recently worked as a Corporate Communications Analyst for JetBlue. Find her work in The New York Times, USA Today, and more.

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