Application Approved – Chase Sapphire Preferred 50K UR!

As so many bloggers – including myself – reported the other day, there is an increased offer by Chase for the Chase Sapphire Preferred Visa Card – 50,000 Ultimate Rewards points (plus an additional 5,000 points for an authorized user), with a $3,000 spend requirement.  The annual fee of $125 is waived for the first year.   The usual offer is 40,000 points with an annual fee of $95,  also waived the first year.

Many people postulated that the new offer might be considered a “new” or “different”  product because of the increased annual fee.   If considered a new product then one could conceivably apply for a second CSP and get a second sign on bonus…..

I have two Chase Sapphire Credit Card products.  First, I have a Chase Sapphire Visa – this is the free, non “preferred” credit card.  It was formerly a Chase Sapphire Preferred Visa, but I downgraded it a few months ago.  Second, I have a Chase Sapphire Preferred Mastercard (I was one of the last people to get the CSP Mastercard – see my post HERE).

I wasn’t going to apply for this new offer, but then decided to give it a shot – by no means confident that I’d succeed.

Monday night, I applied online.  I hit “submit” and the response was that the application was pending.

The next day, Tuesday, I phoned Chase.  I was told that my application was denied.  I was informed that Chase didn’t even run a credit check because I already had the product.  I said I needed to think about this, and that I would call back.

Today, I phoned again.  The credit analyst once again told me that my application was rejected.  She said I wasn’t eligible for this offer since I already had a Chase Sapphire Preferred product.  In fact, she said I had 2 such products.  There was a little confusion over whether both my cards were “Preferred” products and also the effect, if any, of the fact that the new offer had a different annual fee.   I asked – if I were to cancel one of my cards would my application then be considered?  She did not know the answer, and connected me to a customer service specialist.  The specialist reviewed my file.  She maintained that I already had the product.  She said that the result might be different if I canceled one of my Chase Sapphire cards.  I asked if it mattered which card I canceled.  She gave no opinion nor made any promises.  I opted to cancel the non-preferred Sapphire card.  The specialist  then put me on hold for a while.  She returned and said that my application was approved!

Thus, I will now have a Chase Sapphire Preferred Visa and a Chase Sapphire Preferred Mastercard.

Here’s the LINK for the offer – for some people it comes up as the 50,000 UR offer, for others 40,000.   I do not earn a commission or referral for this.

Have you applied for this new offer?  Was your application approved?

 

 

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