When you’ve been occupied with making use of for the Chase Sapphire Preferred® Card (see rates and fees) — and even when you have not, you will wish to hear this — now could be the most effective time to take action.
That is as a result of that is your final probability to earn a limited-time bonus of 100,000 Final Rewards factors after spending $5,000 on purchases within the first three months of account opening, since this provide ends on Might 15 at 9 a.m. EDT.
TPG’s Might 2025 valuations peg Chase Final Rewards factors at 2.05 cents every, which suggests this bonus is value a whopping $2,050. This matches the welcome offer we final noticed on this card over three years in the past.
Final probability: Earn 100,000 bonus factors with the Chase Sapphire Preferred for a restricted time. This provide ends on Might 15.
Earlier than you apply, although, it’s best to be sure to’re eligible for this provide. Here is a fast rundown of the eligibility necessities and restrictions for the Chase Sapphire Most well-liked welcome bonus.
Am I eligible for Chase Sapphire Most well-liked bonus?
That is what Chase states on its web site concerning Chase Sapphire Most well-liked bonus guidelines and eligibility:
The product shouldn’t be accessible to both (i) present cardmembers of any Sapphire bank card, or (ii) earlier cardmembers of any Sapphire bank card who acquired a brand new cardmember bonus inside the final 48 months.
That implies that you are within the clear to use for the cardboard and obtain the welcome bonus if you happen to’ve by no means held the Chase Sapphire Most well-liked or Chase Sapphire Reserve® (see rates and fees).
Nevertheless, issues get just a little extra sophisticated if you happen to at the moment have the Sapphire Most well-liked or Reserve — or if you happen to’ve had one previously.
Chase has a 48-month rule for patrons to obtain new cardmember bonuses inside the Chase Sapphire card household.
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So, if you happen to’ve earned a Chase Sapphire Most well-liked or Sapphire Reserve welcome bonus previously 4 years, you are out of luck to earn this bonus. And needless to say the 48-month rule applies to while you acquired the bonus, not while you utilized for the cardboard.
Moreover, you may solely have one Sapphire bank card open at a time. Which means those that are present cardholders of the Chase Sapphire Most well-liked, Chase Sapphire Reserve or the no-annual-fee Chase Sapphire Card (not open to new functions) can’t apply for this card or obtain the bonus.
The data for the Chase Sapphire has been collected independently by The Factors Man. The cardboard particulars on this web page haven’t been reviewed or supplied by the cardboard issuer.
Associated: What credit score do you need to get the Chase Sapphire Preferred card?
Chase’s 5/24 rule
One thing else to think about when occupied with whether or not to use for the Sapphire Most well-liked is Chase’s 5/24 rule.
Even if you happen to meet the above necessities, Chase Sapphire Most well-liked bonus guidelines require you to nonetheless fall underneath Chase’s notorious — although unpublished — 5/24 rule.
When you’ve opened 5 or extra new private bank card accounts (together with authorized user accounts and some business accounts) throughout all issuers previously two years, Chase is sort of definitely going to disclaim your utility.
You may attempt calling Chase to see in the event that they’re keen to not maintain licensed person accounts towards your most of 5 new accounts within the final two years if you happen to get denied for a brand new Chase card; nevertheless, be aware that this doesn’t suggest you will get an automated approval.
Associated: How to calculate your 5/24 standing
Shifting credit score traces
There’s one remaining be aware concerning Sapphire Preferred functions. When you at the moment have multiple Chase credit cards with giant credit score limits, there’s an opportunity you’ve got hit the utmost (complete) sum of money that the issuer is keen to mortgage you.
If this occurs, you probably will not be rejected for the cardboard while you apply. As a substitute, your utility will go into “pending” standing.
You can watch for Chase to decide, however you could be higher off calling the reconsideration line. You can proactively provide to maneuver credit score traces from an current card to the Sapphire Most well-liked, which may help the agent push your utility by way of.
Backside line
The present Chase Sapphire Preferred limited-time welcome bonus of 100,000 Chase Final Rewards may be very helpful, so those that are eligible ought to take into account making use of, particularly since that is your final probability to earn it. This provide ends on Might 15.
When you’ve had your eye on the Sapphire Reserve, you may apply for the Sapphire Most well-liked now to earn the upper welcome bonus. Then you may request to improve to the Sapphire Reserve after a 12 months to access elevated travel perks.
To be taught extra, learn our full review of the Chase Sapphire Preferred.
Apply right here: Chase Sapphire Preferred Card – 100,000 Final Rewards factors after spending $5,000 on purchases within the first three months of account opening