Chase Sapphire Card Customers Limitations: Chase Memo Alert

Chase recently had yet another big change in place and it has to do with the whole Sapphire card family. When you scroll down all the perks and benefits attached to any Sapphire card of most, if not, all Sapphire Cards, referencing the Chase Sapphire no annual fee, Chase Sapphire Preferred and the Chase Sapphire Reserve variant, you should notice something along the lines of no longer being able to pick up more than one Sapphire card in your card portfolio.

That means you are severed at the option of only product changing to another Sapphire card variant and you’ll only receive a bonus on one of the cards within a 24 month’s period. Be sure to read on for more information that may impact you!

Alternative Credit Cards:

• Barclaycard Arrival Plus^TM World Elite MasterCard®
• Starwood Preferred Guest® Credit Card
• Hilton Honors^TMSurpass Card from American Express

Chase Sapphire Card Customers Limitation In-depth:

Now, it’s as clear as day what Chase’s intentions are and with an annual fee coming through soon for most Sapphire Reserve cardholders, it can surely be a sign of coincidence that Chase predicted such an event would happen where customers would apply for a Chase Sapphire Preferred and have their points transferred from the Reserve prior to cancellation. This rule is implemented to coarse them from further bonus incentives and go with the option of a product conversion, which is now sanctioned to no bonus incentive for upgrades, or downgrades.

This product is available to you if you do not have any Sapphire card and have not received a new cardmember bonus for any Sapphire card in the past 24 months. If you are an existing Sapphire customer and would like this product, please call the number on the back of your card to see if you are eligible for a product change. You will not receive the new cardmember bonus if you change products.

I can’t help but to give Chase credit where it’s due, practically bundling all the Sapphire products together as a deemed family in terms of bonuses as one entity and implementing a system that is more efficient than the Citi 24-Month Rule. Essentially, you’ll only be able to receive a bonus on one of the cards within 24 months. Note that closing or downgrading a Sapphire Card won’t result in a full reset on the 24-month’s clock so it’s a sigh of relief, I guess.

If you fall in the category that your last Sapphire bonus was distributed 24-months ago, downgrading to the Chase Freedom Sapphire Preferred Card and then applying for a new could be a more viable option.

Chase Sapphire Card Customers Limitations Summary:

• Customers may no longer have more than one Sapphire-branded credit card.
• Sapphire customers will be given the option to upgrade or downgrade their products if the choose so, however, no bonus points will be available with the upgrade or downgrade.
  • Customers will have to call the number on the back of their card or contact a Banker support in doing so.
• If an account is closed, customer will not be eligible for any Sapphire-branded credit card within the last 24 months of obtaining a Cardmember bonus on that specific Sapphire-branded product.
• This change impacts all new and existing customers (including CPC), however, there is no impact to existing cardholders who currently holds more than one Sapphire product.

Chase Sapphire Preferred Card Features:

• Earn 50,000 bonus points when you spend $4,000 on purchases in the first 3 months from account opening. That’s $625 in travel when you redeem through Chase Ultimate Rewards®
• Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
• 2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases
• No foreign transaction fees, plus chip-enabled for enhanced security and wider acceptance
• 1:1 point transfer to leading frequent travel programs at full value – that means 1,000 Chase Ultimate Rewards points equal 1,000 partner miles/points
• Premium Travel and Purchase Protection Benefits, including Trip Cancellation/Trip Interruption Insurance, Auto Rental Collision Damage Waiver, Purchase Protection and more
• 24/7 direct access to dedicated customer service specialists
• Introductory Annual Fee of $0 the first year, then $95

Conclusion:

There’s two main criterias you must follow with this new rendition of rules: new cardholders, you cannot hold more than one Sapphire card. This will not apply for current existing cardholders with multiple Sapphires in their portfolio. Secondly, you will have to wait 24 months to get a bonus on either of the cards: Chase Sapphire no annual fee, Chase Sapphire Preferred and the Chase Sapphire Reserve before being able to get it again on another card.

This new rule surely will delay a good sum of us who were looking to transfer our UR points from the Reserve to Preferred. Best option as this point is to product change to a Freedom Card and applying for a Preferred, if you’ve held the card for a 24 month’s term. Find our complete list of Credit Card Promotions from our exclusive list!