Holding both the Chase Sapphire and Chase Sapphire Preferred Credit Card

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The Chase Sapphire Preferred card was one of the first credit cards I applied for back in 2011. I ended up downgrading the credit card to the Chase Sapphire no annual fee credit card once the annual fee posted. You have up to 60 days to request for a refund of the annual fee. I downgraded the credit card mainly because I held the Chase Ink Bold credit card, which was an overall better card with the Chase Ultimate Rewards benefits and the 5X points on office supplies and cable/cell phone/internet bills.  Now that I held the Chase Sapphire no annual fee credit card, could I get the Chase Sapphire Preferred credit card once again and get the bonus?

The current rule for earning the sign up bonus a second time is as follows:

This bonus offer is available to you as long as you have not received a new cardmember bonus for this product in the past 24 months.

Usually I track the dates on an excel spreadsheet for when I signed up for the credit card.  I’m not sure when I received the bonus exactly, but it is safe to say that I’ve earned my bonus 27 months after my initial sign up date.  This is because, you have to meet the minimum spend within 3 months.  I’ve tested the rule above before by reapply for the Chase Southwest personal credit card and I received the bonus for the 2nd time

I was worried that I would have to call Chase to explain why I needed the Chase Sapphire Preferred when I already had the Chase Sapphire card.  I also thought they might question me on why I downgraded my CSP before and want it again. When I applied for the card, I was expecting a pending approval or denial of some sort.  To my surprise I saw this:

Chase Sapphire Preferred Instant Approval!

Chase Sapphire Preferred Instant Approval!

I was shocked to see an instant approval!  I just received my card and authorized user card in the mail yesterday and I’m ready to earn another sign up bonus!

In conclusion, holding both the Chase Sapphire and Chase Sapphire Preferred is no problem.  I was able to see both my Chase Sapphire and Chase Sapphire Preferred accounts under my Chase login.  Waiting 2 years seems like a long time to sign up again and receive the sign up bonus again, but realistically there are so many credit card products that it takes a while to get through all of them.  By the time you applied for almost all the good sign up bonuses, it’s time to apply for them all once again!  Anybody apply for the Chase Sapphire Preferred a 2nd time? 

12 comments for “Holding both the Chase Sapphire and Chase Sapphire Preferred Credit Card

  1. Maury
    May 5, 2015 at 8:58 am

    I also had the same exact experience as you did and was approved for the Preferred after having a regular one open.

  2. rob black
    May 5, 2015 at 11:21 am

    What is the benefit of getting an authorized user card ( presumably for your spouse ) instead of her getting the 40K points herself?

    • Maury
      May 5, 2015 at 12:36 pm

      @rob black You get an extra 5k UR points by doing that extra step.

      • May 6, 2015 at 4:09 pm


      • KQ
        May 11, 2015 at 6:39 pm

        But can your spouse be an authorized user on your account and also apply for the card herself? Then she will have two Preferred cards?

        I stopped adding my spouse as an authorized user because I thought it was better if she just applied for it herself and then got the 40k in bonus. but you are saying it’s possible to do both?

  3. Stephen
    May 14, 2015 at 12:26 pm

    How long after downgrading did you apply for a new one? Btw I’m looking at downgrading a CSP and Ink if I can’t get annual fee waivers for either. Any suggestions on how to hold onto my UR points?

    • May 15, 2015 at 7:09 am

      I waited about 15 months. You have to keep the ink or cSP to transfer to miles. Ink offers retention bonus from time to time.

  4. Bob
    June 4, 2015 at 7:06 pm

    Hey – Question for you. I currently have a CSP and the annual fee is going to hit in a month’s time. Now that Chase has stopped downgrading to the ‘regular’ Chase Sapphire – What can I downgrade to? I have a Chase Freedom(Visa) and Amazon Visa with Chase…FYI. Thanks, Bob

    • June 8, 2015 at 7:52 pm

      Freedom or cancel

      • Bob
        June 9, 2015 at 6:45 am

        Thanks ! Was not sure if you can have 2 or more Freedom from Chase…but now I know 🙂

      • Bob
        July 15, 2015 at 1:05 pm

        So I called in today and I must have been lucky – since I got a super sweet rep. The options for holding onto my CSP card were:(1)Downgrade to a Sapphire,(2)Downgrade to a Freedom/Slate(I already have a Freedom by the way),(3)6000 Ultimate rewards points. Went with option 3 and the points were immediately credited 🙂

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