[News] Chase Has Added More Restrictions for Their Sapphire Credit Cards

 

Based on the news reported from Doctor of Credit (click me), Chase has started to add more restrictions on Sapphire-series credit cards. Here is the memo from Doctor of Credit:

Beginning August 27 our same-product eligibility requirements have been updated for all Sapphire Credit Card products, which include Chase Sapphire, Chase Sapphire Preferred and Chase Sapphire Reserve.

Here’s a look at what’s new:

  • Going forward, a customer may no longer have more than one Sapphire-branded credit card. For example, if a customer has a Sapphire Preferred card, they are no longer eligible for a Sapphire Reserve card.
  • While this change impacts all new and existing customers (including CPC clients), there is no impact to existing customers who presently have more than one Sapphire product. These customers continue to retain their Sapphire products as usual.
  • If existing Sapphire customers wish to upgrade or downgrade their product, they made so if eligible. However, no bonus points will be available with this upgrade or downgrade. The customer may call the number on the back of their card OR you may contact Banker Support with customers who are in the brand or already on the phone.
  • If an account is closed, a customer will not be eligible for any Sapphire-branded credit card if they have earned a cardmember bonus on a Sapphire-branded product within the last 24 months.

This is quite similar to Citi’s credit cards’ applying rule. However, Chase is going to be stricter since you are not going to be approved for the Sapphire-series cards even if you have one card open for more than 24 months, and want to apply for the other type of Sapphire card. Be aware of this new restriction if you are going to apply for these cards soon.

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