Chase Sapphire Preferred Cardholders May Qualify for Bonus

Chase Sapphire Preferred® Card (see rates and fees) applicants who previously held the card may now be eligible for the 100,000 bonus points welcome offer, a development that contradicts recent eligibility rule changes. TPG editor-in-chief Nick Ewen reported qualifying for the bonus despite having earned it nearly 15 years ago, an experience now shared by several other former cardholders. This suggests a potential shift in Chase's bonus eligibility criteria, which had previously been tightened. Chase initially replaced a 48-month restriction with stricter language indicating previous cardholders would generally not qualify for the same bonus again. Later, the bank relaxed these rules to allow eligible cardholders to hold both Sapphire cards and earn the other card's welcome bonus if they hadn't received it previously. The recent approvals indicate a more nuanced approach is being taken by Chase regarding bonus eligibility for returning cardholders. To be considered for the bonus, applicants must not currently hold an open Sapphire Preferred card, as the terms prohibit current cardholders from opening another. Additionally, applicants should be mindful of Chase's unofficial 5/24 rule, which generally disqualifies those who have opened five or more personal credit cards across all issuers within the past 24 months. The approvals observed so far have been from individuals who first obtained the Sapphire Preferred card many years ago, suggesting that a significant time gap since the last card membership may be a factor in current eligibility.