New Restrictions for Chase Sapphire Applicants 0

Credit Card

If you’ve been thinking of applying for a Chase Sapphire card, you’ll want to take a look at the new restrictions the company has put in place. 


The Latest Changes

The new terms indicate that you’ll no longer be approved for a Sapphire card if you’re a current cardmember, or if you’ve received a new cardmember bonus on the card in the last 48 months. Previously, you were unable to receive a new Sapphire card if you’d received a new cardmember bonus in the last 24 months.  

As is generally the case, this new rule is put into place to primarily hinder miles and points chasers, as well as those who might be thinking of leaving the card, and instead ensure the credit card company sustains profitability. 

The new terms extend to both the Chase Sapphire Preferred card and the Chase Sapphire Reserve card.

The change is in addition to other recently added terms and conditions, including the 5//24 rule, which means you won’t be approved for any Chase card if you’ve opened five new cards in the past 24 months, and the card family restrictions, which means you can’t hold more than one version of a card. In simple terms, that means if you have the Chase Sapphire Preferred card, you can’t get the Chase Sapphire Reserve card, and vice versa. 

What Can You Get With These Cards Anyway?

Good question. Let’s take a look and see if they’re worth your time as a traveler. 

The Chase Sapphire Preferred credit card offers…

  • A current new cardmember offer of 50,000 bonus points when you spend $4,000 on purchases in the first three months (equal to $625 of travel if you redeem through Chase Ultimate Rewards)
  • Double points on travel and dining at restaurants
  • No annual fee the first year and a $95 annual fee in the years following
  • 1:1 point transfer with select travel partners including Aer Lingus, British Airways, AIR FRANCE KLM, Iberia, JetBlue, Singapore Airlines, Southwest Airlines, United, Virgin Atlantic, IHG, Marriott, Ritz-Carlton and Hyatt
  • Primary car rental coverage

The Chase Sapphire Reserve credit card offers…

  • A current new cardmember offer of $50,000 bonus points after you spend $4,000 on purchases in the first three months
  • Triple points on travel and dining, including airfare, hotels and more
  • A $450 annual fee, plus an extra $75 for each authorized user
  • A $300 annual travel credit
  • No foreign transaction fees
  • Travel and purchase coverage
  • Complimentary airport lounge access
  • Global Entry and TSA PreCheck fee credits
  • Special benefits at The Luxury Hotel & Resort Collection (like room upgrades and early check-in, late check-out)

So are both of these cards worth it? For many, yes, despite the recent terms and conditions changes. The sign-up bonus is worth more than the annual fee alone, plus you get the added travel perks. If you spend several thousand each year in dining and travel (and who doesn’t?); need a card with no foreign transaction fees; and would like some added travel protection, then this would be a good choice to add to your arsenal of credit cards.

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