The Chase Sapphire Preferred® Card (Revision) and the Chase Sapphire Reserve® Card (Revision) are two of the most popular travel rewards credit cards. They both have great welcome offers, great point earning structures, and valuable perks. Which of the cards makes the most sense depends on what type of consumer you are.
For those considering applying for one of these cards, a major consideration is the 48 month rule, which you must follow to earn the welcome bonus on either card. In this article, I wanted to take a closer look at how it works. This is in addition to standard Chase application restrictions, including the 5/24 rule.
How the Chase Sapphire 48 Month Rule Works
When you apply for Chase Sapphire Preferred or Chase Sapphire Reserve, you will see the following conditions associated with obtaining the welcome bonus:
The product is not available to (i) current Sapphire credit card holders, or (ii) previous Sapphire credit card holders who have received a new cardholder bonus within the past 48 last months.
There is sometimes confusion over what exactly this means, so let me try to clarify. You are not eligible for the welcome bonus on Chase Sapphire Preferred or Chase Sapphire Reserve if:
- You currently have a Chase Sapphire credit card (this includes Preferred and Reserve)
- You are a former cardholder who received a bonus on a Chase Sapphire credit card within the last 48 months (this includes Preferred and Reserve); the 48 months would not be from when you opened the card, but rather from when you earned the bonus
In other words, you are potentially eligible for Chase Sapphire Preferred or Chase Sapphire Reserve if you have had one of the Chase Sapphire cards in the past you simply cannot currently have one of the cards and cannot have received a new cardholder bonus on any of the cards within the last 48 months.
Note that being an authorized user on someone else’s Chase Sapphire card (currently or in the past) would not make you ineligible to earn the bonus on the card yourself.
When are you considered a former Chase Sapphire cardholder?
As you can see from the conditions, eligibility for Chase Sapphire Preferred or Chase Sapphire Reserve is based on not currently having one of these cards, and not being a past cardholder who received a bonus on either other card in the last 48 months.
Many wonder when you are considered a former cardholder based on having had the card in the past. Most data points suggest that you are considered a former cardholder within days of canceling an account. Personally, I would recommend waiting until the next calendar month, just to be on the safe side.
In other words, let’s say you had the Chase Sapphire Preferred (and earned the bonus over 48 months ago) and then closed the account on August 15th. You could then potentially be eligible for the Chase Sapphire Reserve in a few days, although I personally would wait until September 1 to apply, just to be on the safe side.
At the end of the line
The Chase Sapphire Preferred and Chase Sapphire Reserve are two of the most popular travel rewards credit cards. If you are considering applying for a Chase Sapphire card but have had one in the past, the biggest restriction to be aware of is the 48 month rule, which impacts bonus eligibility.
This means that you cannot earn the bonus on either card if you currently have a Chase Sapphire card, or if you are a former cardholder who has received a bonus on a Chase Sapphire card in the past few years. last 48 months. I hope the above clarifies any questions you may have about this rule (and if not, please let me know).