Understanding the 1/48 Sapphire credit card application rule (2024)

FAQs

Understanding the 1/48 Sapphire credit card application rule? ›

Understanding the 1/48 Sapphire rule:

If you have received a bonus for a Chase Sapphire Preferred® Card or Chase Sapphire Reserve® within the past 48 months, you cannot earn a new cardmember welcome bonus on a new Sapphire card. Period.

The 48-month rule means you can't earn bonus ThankYou Points if you have received a new account bonus for cards like the Citi Rewards+® Card in the previous 48 months. Your 48-month clock is based on the later date of either the welcome bonus or closed date. The rule includes co-branded Citi American Airlines cards.

Chase has a 48-month rule for customers to receive new cardmember bonuses within the Chase Sapphire card family. If you've earned a Chase Sapphire Preferred or Chase Sapphire Reserve sign-up bonus in the past four years, you're out of luck to earn this bonus until you've passed the 48-month mark since the last bonus.

Your Chase Sapphire Preferred approval odds are good if you have a credit score of 700+, which is considered good credit. Approval odds for the Chase Sapphire Preferred will also be influenced by your annual income and existing debts.

Chase doesn't publicly disclose any income requirements, but personal data points indicate you usually need an annual income of at least $30,000 to have good approval odds. You can include your taxable and non-taxable income to have an easier time qualifying for the card and getting a higher credit limit.

The Chase Sapphire Preferred credit limit is $5,000, at a minimum. But some cardholders can get a credit limit higher than that. Plenty of Chase Sapphire Preferred cardholders report limits of at least $10,000, and some say they have a limit of $20,000 or more.

Reducing the interest you pay

If you typically carry a balance on your credit card from one month to the next, then making multiple payments during each billing cycle can reduce your interest charges overall. That's because interest accrues based on your average daily balance during the billing period.

That said, making two payments per month actually can help your score—but for a different reason. This strategy makes your credit utilization ratio appear lower, which can boost your credit score in the long run.

It's a good idea to wait at least six months between credit card applications to protect your credit score and avoid exceeding certain card issuers' restrictions. Several applications submitted within a short time frame could damage your credit score for a period of time.

Which is better, sapphire reserve or preferred? ›

Chase Sapphire Reserve®: Rewards. Cardholders aiming to maximize rewards on everyday spending should consider the Sapphire Preferred. While the Sapphire Reserve offers a higher redemption rate for travel purchased through the Chase portal than the Sapphire Preferred (50% more value for points vs.

As of June 4th, 2021, Chase is offering an unbelievable welcome bonus of 100,000 Ultimate Rewards points when you sign up for the Chase Sapphire Preferred card and spend $4,000 within the first three months of account opening.

What is the Chase 5/24 rule? According to the 5/24 rule, you won't be approved for a Chase credit card if you've opened five or more cards from any bank (excluding most business credit cards) in the past 24 months, even if you have an excellent credit score.

The Chase Sapphire Preferred is considered a great beginner card, but you may not get approved if you don't have much credit history or only have one credit card to your name. We recommend applying for one of the best first credit cards or best credit cards for college students if you are brand-new to credit cards.

If your application for a Chase Sapphire Reserve® card was declined, there are a number of possible reasons. A less-than-stellar credit history is one. But another factor that could affect your appeal to an issuer is your debt-to-available credit ratio.

The Chase Sapphire Preferred® Card isn't a credit card for everyone — you'll need to have good to excellent credit to have a chance at getting approved. We recommend having a FICO score of at least 690 before applying for this card. If you need to wait a bit and work on your credit, it's a good idea to do that.

Generally, it's best to pay off your credit card balance before its due date to avoid interest charges that get tacked onto the balance month to month.

You travel often and you want a premium credit card packed with benefits. In particular, this Chase card is a great choice if most or all of the following are true: You normally travel three or more times per year. You spend quite a bit on travel and dining.

The best option is to put your monthly payments on autopay so you're not late. Paying more than the minimum payment due every month is recommended so you can minimize interest charges. Paying the entire balance every month will eliminate interest charges completely.

What is the Chase 5/24 rule? To be approved for a Chase credit card, you must have fewer than five approvals for credit cards within the last 24 months. When you apply for a Chase credit card, Chase will count the card you're applying for as part of your allowed five approvals.