The 100K Chase Sapphire Preferred Offer with a Waived Annual Fee the first year is still alive at Chase bank branches, as I was approved today. A commenter on our prior post, 100K Chase Sapphire Preferred Offer with Waived Annual Fee, claimed on July 6 that the offer had ended, but unfortunately it appears she was given bad information by her local Chase branch.
The offer, which requires $4000 spend on the account within the first 3 months of account opening, also comes with one $50 grocery store credit in the first year, making the entire offer worth ~$2050 if valuing each Chase Ultimate Rewards point at 2 cents per point. Our goal is to always obtain at least 2 cents per point, if not more, when redeeming, by transferring to Ultimate Rewards airline partners such as United MileagePlus, British Airways Avios, Emirates Skywards, etc. and redeeming for business class or first class award flights.
Don't have the time or inclination to get to a Chase branch for the waived annual fee offer? Apply online for the 100K Chase Sapphire Preferred (annual fee is not waived for the online offer). We appreciate readers' support!
How Long Must I Wait After Product Changing a Chase Sapphire Reserve Until I Can Be Approved for the 100K Chase Sapphire Preferred?
Keep in mind that you want to be sure you're eligible for a new signup bonus and meet these criteria:
- You haven't earned a signup bonus for a Sapphire card of any kind for at least 48 months
- You don't have more than four new credit inquiries over the past 24 months (Chase 5/24). Note that most (but not all) business credit cards do NOT show up on credit reports for Experian, Equifax and Transunion. One of the easier ways to check is to sign up for Credit Karma, then go to Accounts and sort by “Open Date” to view your opened accounts over the past 24 months.
- You don't currently have a Sapphire card of any kind
Assuming you meet the criteria, we recommend waiting at least 1 week after product changing the Sapphire Reserve before reapplying. As a data point, I product changed by Chase Sapphire Reserve 10 days before applying for the Sapphire Preferred and was approved. I'd seen some comments by others saying that it wasn't possible to get approved until after the statement closing date of the old Chase Sapphire Reserve, but that wasn't the case for me, as my closing date isn't until later this month, and I product changed early this month.
Our Household Strategy: Keeping One Chase Sapphire Reserve
In our case, we value the Chase Sapphire Reserve enough to have kept my husband's card, and plan to continue to use it for major travel purchases, for its 3X earning on all travel and dining, as well as its superior travel insurance protections. But the 100K Sapphire Preferred offer, for a reasonable $4000 spend to earn the signup bonus, was too good to pass up.
If you recently product changed a Chase Sapphire Reserve card and applied for the 100K Chase Sapphire Preferred, how long did you wait before applying, and were you approved?
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