The Chase Sapphire Preferred and Chase Sapphire Reserve have been two of the most important rewards cards in the points and miles world for years.

They earn flexible Chase Ultimate Rewards points, provide access to airline and hotel transfer partners, include useful travel protections and can produce a substantial amount of value from their welcome bonuses.

Unfortunately, Chase has managed to make the application process both simpler and more confusing at the same time.

The good news is that you can once again hold both personal Sapphire cards. Even better, someone who has earned the bonus on one Sapphire product may still be eligible to earn the bonus on the other.

The less exciting news is that the old, predictable 48-month eligibility clock is gone. Chase now uses more discretionary language and may evaluate whether it wants to offer you a bonus based on your history with that specific card, along with the number of accounts you have opened and closed.

This guide will help you answer two separate questions:

1. Are you likely to be approved for the card?
2. Will Chase allow you to earn the advertised welcome bonus?

Those are related questions, but they are not the same thing.

Click through one of the Comparison Tools on the Sapphire Offers page to help support one of your favorite bloggers. Since thePointsPage doesn't have its own set of affiliate links, we pay it forward to those that do.

The Two Personal Chase Sapphire Cards

The personal Sapphire family currently consists of the Chase Sapphire Preferred and Chase Sapphire Reserve. Both cards earn Ultimate Rewards points, but they serve very different types of travelers.

Who Is the Sapphire Preferred For?

The Sapphire Preferred is the card I would recommend to the broadest group of travelers.

Its $95 annual fee is relatively manageable, and the refreshed card now earns:

• 5 points per dollar on eligible travel purchased through Chase Travel
• 3 points per dollar on dining
• 3 points per dollar at gas stations and EV charging stations
• 3 points per dollar on eligible vacation rentals
• 3 points per dollar on eligible online grocery and streaming purchases
• 2 points per dollar on other eligible travel
• 1 point per dollar on most other purchases

It also includes an annual Chase Travel hotel credit of up to $100, a Trusted Traveler Program application fee credit of up to $120 every four years, primary rental car collision coverage on eligible rentals and several trip protection benefits.

The Preferred makes the most sense for someone who wants access to transferable Ultimate Rewards points but does not need airport lounge access or a collection of premium lifestyle credits.

It is also a logical starting point for someone who is relatively new to points and miles. The annual fee is easier to justify, the bonus categories cover common purchases, and the current welcome offer is unusually strong.

One important consideration for Hyatt travelers is that Chase changed the Preferred card’s World of Hyatt transfer ratio for newer cardholders. Applicants approved under the refreshed June 2026 terms receive 750 Hyatt points for every 1,000 Ultimate Rewards points transferred, rather than the historical 1:1 ratio. That makes it especially important to compare all available transfer and redemption options before moving your points.

Who Is the Sapphire Reserve For?

The Chase Sapphire Reserve was introduced in August 2016 and immediately changed the premium travel card market. It launched with a 100,000-point welcome bonus, a broad $300 annual travel credit, airport lounge access and elevated rewards on travel and dining.

Nearly a decade later, Chase substantially refreshed the card. The Reserve now carries a $795 annual fee and is designed for travelers who will actively use its premium benefits.

The current Reserve earns:

• 8 points per dollar on eligible purchases through Chase Travel
• 4 points per dollar on flights booked directly with airlines
• 4 points per dollar on hotels booked directly
• 3 points per dollar on dining worldwide
• 1 point per dollar on most other purchases

The card also provides a flexible $300 annual travel credit, access to Chase Sapphire Lounges and participating Priority Pass lounges, credits for eligible bookings through The Edit, a Global Entry, TSA PreCheck or NEXUS credit and a growing collection of dining, entertainment and lifestyle benefits.

The Reserve can provide significant value, but only when its benefits match purchases you would have made anyway.

I would not value a $300 dining credit at its full face value if you have to visit restaurants you would not normally choose. The same applies to entertainment, hotel and subscription credits. A credit is only worth what it actually saves you.

The Reserve is best suited to frequent travelers who regularly use airport lounges, can naturally use the travel and hotel credits and prefer premium benefits enough to justify the much higher fee.

Approval Eligibility and Bonus Eligibility Are Different

This distinction is one of the most important parts of the entire application process.

You could be eligible to open a Sapphire card but not eligible to earn its welcome bonus. Conversely, you may appear eligible for the bonus based on your Sapphire history but still be denied because of 5/24, your credit profile, recent applications, income or the amount of credit Chase has already extended to you.

Before applying, evaluate both sides of the equation.

The Old Sapphire Eligibility Rules

For years, the Sapphire rules were relatively predictable.

Before Chase began changing the policy in 2025, the general rule was that you could not receive a new Sapphire welcome bonus if:

• You currently held any personal Sapphire card, or
• You had received a welcome bonus on any personal Sapphire card during the previous 48 months

This meant someone who held a Sapphire Preferred would generally need to downgrade or close it, wait until at least 48 months had passed from the date the last Sapphire bonus posted and then apply for another Sapphire card.

The 48-month clock was based on when the bonus was received—not the application date, approval date or account closing date.

That rule created the strategy sometimes referred to as the "Sapphire Switcheroo" . Cardholders would eventually downgrade an existing Sapphire to a Freedom-family card, wait until they were eligible and then apply for a new Sapphire welcome offer.

That strategy is now outdated because the 48-month rule is no longer the controlling standard.

What Changed in 2025?

In 2025, Chase removed the familiar 48-month language and replaced it with a more discretionary eligibility system.

The application terms began saying that a welcome bonus might not be available if you previously held the card or received a new cardmember bonus for it. Chase also said it could consider the number of cards you had opened and closed when evaluating bonus eligibility.

At the same time, Chase introduced a bonus eligibility pop-up during the application process.

Instead of relying entirely on applicants to calculate an eligibility date, Chase could now tell someone that they were eligible to continue applying for the card but would not receive the advertised welcome bonus.

This was less predictable than the old rule. Waiting 48 months no longer automatically restored eligibility.

The New 2026 Rules: One Bonus Per Sapphire Product

Chase clarified the rules again in January 2026.

The Sapphire Preferred and Sapphire Reserve are now treated as separate products for welcome bonus purposes. Chase’s guidance indicated that customers can earn one bonus on each card product, even when they currently hold the other Sapphire card.

In practical terms:

• If you currently hold a Sapphire Preferred and have never earned a Sapphire Reserve bonus, you may be eligible to apply for the Reserve and earn its bonus. (Note: Some datapoints suggest 8+ years is a long enough gap to apply and earn the SUB again. YMMV).
• If you currently hold a Sapphire Reserve and have never earned a Sapphire Preferred bonus, you may be eligible to apply for the Preferred and earn its bonus.
• If you previously earned the Preferred bonus, you should not assume you can earn another Preferred bonus merely because 48 months have passed.
• If you previously earned the Reserve bonus, you should not assume you can earn another Reserve bonus merely because 48 months have passed.

This is much more clear for someone who has only ever earned one of the two Sapphire bonuses.

It is less favorable for longtime cardholders who previously earned a bonus on the same Sapphire product and were waiting for the old 48-month clock to reset.

Can You Hold Both the Sapphire Preferred and Reserve?

Yes. Chase once again allows customers to hold both personal Sapphire products.

You still cannot apply for a card you already have open. For example, someone who currently has a Sapphire Preferred cannot open a second Sapphire Preferred account through a normal new-card application.

That same person may, however, be able to apply for the Sapphire Reserve while keeping the Preferred open.

Whether holding both cards makes sense after the welcome bonus is another question.

The cards have overlapping transfer partners and travel benefits, and both provide access to the Ultimate Rewards transfer program. Most cardholders will not need both products indefinitely solely to maintain transfer functionality.

There may be a reasonable case for holding both during the first year when pursuing a bonus on the other Sapphire product. After that, you should review the annual fees, credits, protections and spending categories before deciding whether both continue to earn their place in your wallet.

How the Chase Bonus Eligibility Pop-Up Works

The bonus eligibility pop-up is now the most useful—and sometimes most frustrating—part of the Sapphire application process.

If Chase determines that you can continue applying for the card but may not receive the welcome bonus, it should display a warning before you proceed with the full application.

You will generally be given two options:

1. Cancel or withdraw the application, or
2. Continue applying while acknowledging that you will not receive the welcome bonus

For most points and miles applicants, continuing without a bonus would be difficult to justify unless there is a specific reason you urgently need that card’s benefits.

Reports indicate that withdrawing when the eligibility message appears does not result in a hard inquiry because Chase has not yet completed the full credit application. Read the message carefully, though, and do not click through it automatically.

The pop-up also means there is less risk in checking your eligibility than there was under the old system, but it is not a replacement for reviewing your 5/24 status and overall credit profile first.

The bonus pop-up determines whether Chase plans to offer you the bonus. It does not guarantee that you will ultimately be approved for the card.

Chase’s 5/24 Rule Still Matters

The Sapphire bonus rules may have changed, but Chase’s unofficial 5/24 rule remains one of the most important approval restrictions in the points and miles world.

Under the generally observed rule, Chase is unlikely to approve you for most of its rewards cards if you have opened five or more personal credit card accounts across all banks during the previous 24 months.

For example, someone who has opened two American Express cards, two Capital One cards and one Citi card within the last 24 months would generally be considered 5/24—even if they have not opened a single Chase card.

Most business credit cards that do not appear on your personal credit report generally do not add to your 5/24 count. Authorized-user accounts, however, can appear on your personal credit report and may initially be counted by Chase’s automated system.

Chase does not formally publish the 5/24 policy, and exceptions or unusual data points occasionally occur. I would not build an application strategy around receiving an exception.

How to Estimate Your 5/24 Status

Review your personal credit reports and count the credit card accounts opened during the last 24 months.

Do not count inquiries. The rule is based primarily on newly opened accounts, not the number of times you applied.

Also pay attention to the account opening month. A card opened in August 2024 may not disappear from your 24-month count until August or September 2026, depending on how Chase and the credit bureaus report the account.

Other Factors That Can Affect Approval

Being under 5/24 does not guarantee approval.

Chase may also evaluate:

• Your credit score and overall credit history
• Your reported income and existing debt obligations
• The amount of total credit Chase has already extended to you
• How recently you opened other Chase cards
• The number of recent credit inquiries and new accounts
• Your payment history with Chase and other lenders
• The number of Chase accounts you have recently opened or closed

Chase does not publish a minimum credit score that guarantees Sapphire approval. These cards are generally intended for applicants with good to excellent credit, but approval decisions consider much more than a single number.

Applying for several Chase cards in a short period may also increase the risk of a denial or additional scrutiny. Even when a particular application does not violate a clearly published rule, slower application velocity is generally healthier for your long-term relationship with the bank.

Does Being an Authorized User Prevent You From Getting a Bonus?

No. Being an authorized user on someone else’s Sapphire account does not normally mean you personally hold that card product or have received its welcome bonus.

You may still apply for your own Sapphire account and earn the bonus if you satisfy the other eligibility requirements.

The authorized-user account may appear on your personal credit report, however, and could affect your automated 5/24 calculation. If that causes a denial, you may be able to explain during a reconsideration call that you are not financially responsible for the authorized-user account.

Does Upgrading or Downgrading Earn a Welcome Bonus?

No. Product-changing an existing card does not create a new account welcome bonus.

For example, upgrading a Sapphire Preferred to a Sapphire Reserve may provide access to the Reserve’s benefits, but it will not earn the Reserve’s new-cardmember bonus.

If you have never earned the Sapphire Reserve bonus and otherwise qualify, applying for a new Reserve account may be substantially more rewarding than upgrading.

Similarly, downgrading or closing a card does not erase the fact that you previously held it or earned its bonus. The current eligibility system is based on your broader card history, not simply whether the account remains open today.

Special Alert: The Sapphire Preferred 100,000-Point Offer Is Ending Soon

The current Sapphire Preferred welcome offer matches the highest public offer we have seen on the card.

At a basic cash or statement-credit value of one cent per point, 100,000 Ultimate Rewards points are worth at least $1,000. Strategic redemptions through select Chase Travel Points Boost offers or airline and hotel transfer partners can potentially produce considerably more value.

The offer requires $5,000 in purchases during the first three months. Before applying, make sure you can complete that spending with normal, planned expenses and pay the balance in full.

Do not spend an extra $1,000 to earn points worth $1,000. The bonus only creates meaningful value when the spending fits comfortably within your existing budget.

Chase has placed “offer ends soon” language on the application, but no confirmed final date has been announced. Historically, that warning means the window is beginning to close, not that applicants have a guaranteed number of days remaining.

For additional details and continuing deadline updates, read our dedicated article:

Chase Sapphire Preferred 100,000-Point Offer Ending Soon

If you have already reviewed your eligibility, are under 5/24, can complete the minimum spending requirement and have never earned the Sapphire Preferred bonus, this is not an offer I would intentionally postpone until the final moment.

Your Sapphire Application Checklist

Before opening the application, work through this checklist:

1. Confirm your 5/24 count. If you have opened five or more personal cards during the last 24 months, waiting may be the safest choice.
2. Review your Sapphire history. Determine whether you have ever held the Preferred or Reserve and which bonuses you have previously earned.
3. Check your current cards. You cannot apply for the exact Sapphire product you already have open.
4. Choose the right product. Do not select the Reserve merely because it looks more premium. Make sure its $795 fee and benefits fit your actual travel habits.
5. Plan the minimum spending. Confirm you can complete the required purchases without carrying a balance.
6. Use the correct application link. Offers can vary depending on where and how you apply.
7. Save the offer details. Take a screenshot or save a PDF showing the bonus and spending requirement before submitting.
8. Read every application screen. Do not accidentally continue if Chase says you will not receive the bonus.

Common Sapphire Eligibility Examples

You Have Never Had Either Sapphire Card

You may be eligible for either card and its welcome bonus, subject to 5/24, your credit profile and Chase’s application review.

You Currently Have the Preferred but Never Had the Reserve

You may be able to keep the Preferred, apply for the Reserve and earn the Reserve bonus. You cannot open another Preferred while your existing Preferred remains open.

You Currently Have the Reserve but Never Had the Preferred

You may be able to keep the Reserve, apply for the Preferred and earn the Preferred bonus—including the current 100,000-point offer—if Chase considers you eligible.

You Earned a Preferred Bonus More Than 48 Months Ago

The old 48-month rule no longer guarantees another Preferred bonus. You can begin the application and see whether Chase presents an eligibility warning, but previous card ownership or a previous bonus may make you ineligible.

You Earned the Preferred Bonus but Never Earned the Reserve Bonus

You may still be eligible for the Reserve bonus because Chase now evaluates the two products separately.

You Product-Changed From Preferred to Reserve

A product change does not earn a Reserve welcome bonus. Your history of holding both products may also be considered if you later apply for a new account.

You Receive a Bonus Ineligibility Pop-Up

Stop and read it. Unless you intentionally want the card without a bonus, withdraw the application rather than continuing automatically.

Getting to the Point(s)

The Chase Sapphire eligibility rules are no longer as simple as waiting 48 months and checking whether you currently hold a Sapphire card.

The Preferred and Reserve are now separate products for bonus purposes, and applicants can once again hold both. That creates a valuable opportunity for someone who earned the bonus on one card but never earned it on the other.

At the same time, Chase now uses discretionary language that can make repeat bonuses on the same product difficult or impossible. The application pop-up is ultimately the best indication of whether Chase intends to offer you the bonus.

You still need to be realistic about your approval chances. Check your 5/24 count, review your recent applications, consider your existing relationship with Chase and make sure the minimum spending requirement fits your normal budget.

The current Sapphire Preferred offer deserves special attention. Eligible applicants can earn 100,000 Ultimate Rewards points after spending $5,000 during the first three months, and Chase has confirmed that the offer is ending soon.

There is no official expiration date yet. That does not mean you should rush into a card that is wrong for you, but it also means waiting for a last-minute deadline announcement carries some risk.

Credit card offers, benefits and eligibility rules can change at any time. Approval and welcome bonus eligibility are determined solely by Chase. This article is for general educational purposes and is not financial advice. Do not apply for a credit card unless you can pay the balance in full and responsibly manage the required spending.

Sources

• Chase Sapphire Preferred current offer, benefits and eligibility language
• Chase Sapphire Reserve current offer and benefits
• Chase announcement detailing the June 2026 Sapphire Preferred refresh
• Chase’s original 2016 Sapphire Reserve launch announcement
• Chase’s 2025 Sapphire Reserve refresh announcement
• thePointsPage: Sapphire Preferred 100,000-point offer ending soon
• The Points Guy: 2026 Sapphire bonus eligibility changes
• The Points Guy: Sapphire Preferred bonus eligibility pop-up
• The Points Guy: Chase 5/24 application rule guide