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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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Editorial Note: The opinions expressed here are mine and not provided, reviewed, by any bank, card issuer, or other company unless otherwise stated.
What is the reconsideration number?
But did she confirm that you will receive the sign-up bonus?
Congrats on the F2B gig! Hope all is well!
Did you know that you get the sign-up bonus twice? There is also a Mastercard version of the Chase Sapphire Preferred Card. You just have to close your Visa card. This can be done during reconsideration. I love Chase!
Yes, I’ve gotten it more than twice!