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Amid a favorable credit card offer from Chase, individuals have the opportunity to earn a substantial welcome bonus with the Chase Sapphire Preferred Card. Currently, applicants can earn 100,000 Ultimate Rewards points by spending $5,000 within the first three months. This bonus is valued at $2,050, marking the reappearance of a high point offer not seen for over three years.
However, eligibility for this offer is subject to specific conditions. According to Chase's website, "The product is not available to either (i) current cardmembers of any Sapphire credit card, or (ii) previous cardmembers of any Sapphire credit card who received a new cardmember bonus within the last 48 months." This indicates that new applicants must not have received a welcome bonus from any Sapphire credit card in the last four years.
Additionally, the longstanding Chase 5/24 rule stipulates that applicants should not have opened five or more personal credit card accounts with any issuer in the past two years. This could potentially block an application if the rule is not adhered to, although reaching out to Chase might provide some recourse for flexibility.
