The Chase Sapphire Preferred has long been a favorite among award travelers, offering a generous welcome bonus and a range of benefits that make it a valuable addition to any wallet.
However, cardholders who have previously held the Sapphire Preferred may find themselves ineligible for the current bonus, even if they've upgraded to a different card or canceled their previous account.
This is because Chase considers cardholders who have earned a previous bonus on the Sapphire Preferred to be ineligible for the current one, regardless of whether they've downgraded or canceled their card.
If you're considering applying for the Sapphire Preferred but receive a pop-up message stating that you're not eligible for the welcome bonus, don't worry – you're not stuck applying for a card without a valuable incentive.
Chase allows you to cancel your application with no impact on your credit score if you realize you won't qualify for the bonus.
However, if you're still interested in getting the card, you can push your application forward – but it's worth noting that a large chunk of a card's value often lies in its welcome offer, so it may not be worth it for most travelers.
To determine whether you're eligible for the Sapphire Preferred's 100,000-point bonus, consider your cardholder history and think critically about whether you've previously held the card.
The eligibility rules for the Sapphire Preferred are straightforward:
You must be under Chase's 5/24 rule, which means you haven't opened five or more new credit cards in the past 24 months.
You can't currently have a Sapphire Preferred Card open.
You're unlikely to be approved if you have a poor credit score or a negative relationship with Chase.
At the end of the day, the Sapphire Preferred is a valuable card that's worth considering – especially if you're eligible for its generous welcome bonus.
To learn more, read our full review of the Sapphire Preferred and apply online.
As with any credit card application, be sure to carefully consider your eligibility and the terms of the card before submitting your application.
