Are You Eligible For The Chase Sapphire Preferred?

Are You Eligible For The Chase Sapphire Preferred?

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There are so many reasons to get the Chase Sapphire Preferred® Card (review), especially in light of the recent refresh. However, there’s often confusion about who is eligible for this card, so I wanted to go over that in this post.

Chase Sapphire Preferred eligibility requirements

There are often questions about what it takes to get approved for the Chase Sapphire Preferred, so in this post I wanted to share the four main things to consider before applying for the Chase Sapphire Preferred, to try and figure out if you’re eligible. The below considerations are the main reasons you may be denied for the card, so let’s go over each of those.

What credit score do you need for the Sapphire Preferred?

There’s not a consistent rule as to what credit score you need to be approved for the Chase Sapphire Preferred, as credit score is one of only many considerations when being approved for a card. In general, I’d recommend having a credit score in the “good” to “excellent” category if you’re going to apply for this card.

Personally, I probably wouldn’t apply if my credit score were under 700, and ideally, I’d hope to have a credit score of 740 or higher. That being said, people with scores lower than that have been approved, and conversely, people with scores higher than that have been rejected. There are lots of factors that go into approval — your income, your credit history, how much credit Chase has already extended you, etc.

See this post for more on how credit scores work, and how they’re calculated.

Are you under Chase’s 5/24 limit?

Chase has what’s known as the 5/24 rule, whereby you typically won’t be approved for a Chase card if you’ve opened five or more new card accounts in the past 24 months. So make sure you’re under that, and this is also all the more reason to pick up the Chase Sapphire Preferred early in your credit card journey.

See this post for the details on the 5/24 rule, including how to check your “status.”

Are you eligible for the sign-up bonus (48 month rule)?

The Chase Sapphire Preferred welcome bonus of 60K Ultimate Rewards points follows a 48 month rule. You’re not eligible for the bonus on the card if:

  • You currently have any Chase Sapphire credit card (this includes the Preferred and the Reserve)
  • You are a previous cardmember who has received a bonus on a Chase Sapphire credit card in the past 48 months (this includes the Preferred and Reserve)

In other words, you are potentially eligible for the Chase Sapphire Preferred if you’ve had one of the Chase Sapphire cards in the past, you just can’t currently have one of the cards, and can’t have received a new cardmember bonus on one of the cards in the past 48 months. Reports suggest that you’re considered a previous cardmember a few days after canceling an account.

Note that if you’re the authorized user on someone else’s Sapphire credit card, you’re still eligible to get it for yourself. Eligibility is determined based on whether you’re the primary cardmember.

Do you meet Chase’s other card application restrictions?

While the above are the most significant restrictions to be aware of, there are some other general Chase card application rules to be familiar with. Most significantly, you can be approved for at most two Chase cards every 30 days, so make sure you haven’t applied for more than one Chase card in the past 30 days before applying for the Chase Sapphire Preferred.

See this post for Chase’s general credit card application rules.

Chase Sapphire Preferred approval FAQs

To answer a few more of the frequently asked questions when it comes to Chase Sapphire Preferred approval…

Is it hard to get approved for the Chase Sapphire Preferred?

Yes and no. There’s nothing that makes the Chase Sapphire Preferred in particular hard to be approved for, but rather Chase is among the tougher issues to get an approved from. However, that’s mainly just because of the 5/24 rule, and that Chase anecdotally seems to prefer customers with established credit.

If you have a good credit score, a fair amount of credit history, and you’re under the 5/24 limit, you have good odds of getting approved for the card.

How long does it take to get approved for the Chase Sapphire Preferred?

Approvals on Chase credit cards could be instant, they could take a few days, or they could take a couple of weeks. In general I find that Chase doesn’t issue too many instant approvals, so don’t be worried if you get a pending decision answer when you reply. That doesn’t at all mean you’re likely to be rejected.

What is the minimum credit line for the Chase Sapphire Preferred?

If you’re approved, the Chase Sapphire Preferred will have a minimum credit line of $5,000. That’s because the card is a Visa Signature, and that’s the minimum credit line extended on Visa Signature products.

Which credit bureau does Chase pull from?

If you apply for the Chase Sapphire Preferred, there’s not a single credit bureau that Chase always pulls from. It could be Equifax, Experian, or Transunion, depending on a variety of factors.

Is it bad for your credit score if you get denied for the Chase Sapphire Preferred?

What are the negative impacts of applying for a credit card and getting denied? The only downside is that there’s a new inquiry on your credit file, which could temporarily ding your score by a few points. While everyone’s situation is different, personally I wouldn’t consider that to be a big issue, as losing a few points temporarily shouldn’t have major implications.

Meanwhile getting approved for the card and using it responsibly could have a very positive impact on your credit score, by improving your total available credit, history of on-time payments, credit utilization, etc.

If you get denied for the Chase Sapphire Preferred, can you apply again?

You sure can. If you’ve gotten denied for the Chase Sapphire Preferred in the past, you could apply again. Just because you get denied once doesn’t mean you’ll be denied again, especially if aspects of your credit worthiness have improved (for example, if your credit score went up, the number of cards you opened in the past two years went down, etc.).

Are other Chase cards easier to be approved for?

All Chase credit cards are subjected to the same general rules, like the 5/24 rule, being able to get approved for at most two Chase cards every 30 days, etc.

That being said, Chase does seem to have slightly different approval standards for different cards. For example, anecdotally I find that the IHG® Rewards Club Premier Credit Card (review) is among the easier Chase travel credit cards to be approved for. Why is that? On co-brand cards, Chase works with partners to analyze the customer base they’re going after, and that could impact requirements to get approved.

Bottom line

The Chase Sapphire Preferred is currently offering a welcome bonus of 60K Ultimate Rewards points. If you don’t yet have the card, there are so many great long-term reasons to keep this card, including bonus points on all kinds of purchases, excellent travel coverage, and awesome points redemption opportunities.

Hopefully the above answers the question of who is eligible for the Chase Sapphire Preferred. If anyone has any other questions on Chase Sapphire Preferred approval, please let me know.

What has your experience been with being approved for the Chase Sapphire Preferred?

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  1. Patrick D

    I'm going to go out on a limb and say that since I still have the original non-Preferred/Reserve Sapphire, that I'd be ineligible for the 100k?

    1. SP

      Correct. I'm in the same boat. I'm planning to close the Reserve and then sign up for the Preferred. I'm just wondering if there is a period of time I should wait in between. Also, the bonus has been available since June so it can end at any moment.

  2. Luis

    I want to cancel my CSR to apply for the Preferred card. What happens to all my UR points in the meantime?

  3. Laura

    I am an authorized user on my husband's Chase Sapphire Reserve, would I qualify to try and get the preferred since I'm not the main account holder on the reserve?

    1. Ben Schlappig

      @ Laura -- Yep, you sure would qualify. Being an authorized user doesn't preclude you from getting the card yourself (including the bonus).

  4. edgar lepe

    I used the link on pointsguy and was approved after around 1 week. Chase had to adjust the credit from my other Chase cards. The best part is you can start using your card for digital wallets before even receiving the actual card.

  5. Joachim

    Ben - are there rough income requirements for this card? My son received a mailer for the card with an application code but he has very little income as a student.

    His credit score is now 764 since I added him to a couple of my cards but he applied for this card a few months ago and was denied. I think we put income of 32k on that app and I’m not sure what the credit score was at that time.

    Thanks

    1. Eskimo

      Let's start what did Chase tell your son few months ago the reason they denied.

      But for your question. There is no rough income requirements but a rough minimum credit line of $5000 (which many are known to be below that too)

      Now the little gray area of what is income, which also depends on how old is your son.
      But to simplify things, if you give him more allowance, his income will be...

      Let's start what did Chase tell your son few months ago the reason they denied.

      But for your question. There is no rough income requirements but a rough minimum credit line of $5000 (which many are known to be below that too)

      Now the little gray area of what is income, which also depends on how old is your son.
      But to simplify things, if you give him more allowance, his income will be higher.
      Does he have older siblings or relatives that will 'support' him no more no less than $15000 each (in 2021).
      2 Parents + 4 Grand parents = cool 90k income.
      Or if you think your lifetime gifts to anyone will be less than $10M, then just give him a 'special' allowance this year.
      Just make sure you son have "reasonable expectation of access" to all those 'extra support'.

      But this works both ways too, the more irresponsible he is, the harder he will fall. Low credit means less he would have to dig himself out of the mess. minimum due with 30% APR is no joke.

      **Disclaimer: The opinions and statements are for entertainment purposes only. It does not, and is not intended to, constitute legal or financial advice. Please verify this with your attorney, or financial advisor.

    2. Joachim

      lol he is not actually going to have access to the card :-). I do trust him as an AU on one of my cards so that's not the issue. I'm just trying to accumulate some miles for him so he can go on a college graduation trip.

      As I remember the letter said something about not having a long enough credit history. I'd assume at this point with a 764 simulated score that this...

      lol he is not actually going to have access to the card :-). I do trust him as an AU on one of my cards so that's not the issue. I'm just trying to accumulate some miles for him so he can go on a college graduation trip.

      As I remember the letter said something about not having a long enough credit history. I'd assume at this point with a 764 simulated score that this is not a problem any more. It likely took longer than I expected for him to show up as an AU on my cards.

  6. TommyGunzzz

    I downgraded my Reserve card (had it for about 54 months) to a Freedom Unlimited. Just 5 days later, I had an offer in my chase online account for the preferred - 100K signup bonus. The link in my account errored out, so I applied via a OMAT link and was approved instantly!

    1. Eskimo

      Congratulations.

      That's interesting that it errored out. But unless you have referrals, you should always use the OMAAT link to support this site when possible. It's a win-win.

      I personally would have waited for the billing cycle as a CFU to close first before applying, but I guess it worked in your favor.

    2. Ben Schlappig

      @ Eskimo -- Thanks for the support! :)

  7. D3kingg

    I got it in the mail and am working towards the $4000 spend within the first three months. That needs to be paid off. There is a tracker within the Chase app that shows how close you are to the $4000 spend. After hitting the 100K bonus just spend $100 a month on it. Don’t get the card unless you’re 95% sure you can meet the $4000 spend and also pay it off. Despite the $0 AF this is not a beginners credit card.

    1. Ben Schlappig

      @ D3kingg -- Happy to hear you got the card, and hopefully you can put the 100K points to good use!

  8. Conway

    I had the Preferred card for 5+ years but upgraded it to Reserve about a year ago and did NOT receive any new bonus. If I product change the card to a Freedom card.... Can I apply and receive a new Preferred card with bonus? If yes....how long after the product change should I wait to apply?

    1. Ben Schlappig

      @ Conway -- Per the terms that should be possible, assuming you haven't received a bonus in the past 48 months (which you haven't, it sounds like). There are different data points as to how long you should wait. There are positive data points of people being approved and qualifying just days after closing a card.

Featured Comments Load all 16 comments Most helpful comments ( as chosen by the OMAAT community ).

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SP

Correct. I'm in the same boat. I'm planning to close the Reserve and then sign up for the Preferred. I'm just wondering if there is a period of time I should wait in between. Also, the bonus has been available since June so it can end at any moment.

Joachim

lol he is not actually going to have access to the card :-). I do trust him as an AU on one of my cards so that's not the issue. I'm just trying to accumulate some miles for him so he can go on a college graduation trip. As I remember the letter said something about not having a long enough credit history. I'd assume at this point with a 764 simulated score that this is not a problem any more. It likely took longer than I expected for him to show up as an AU on my cards.

Patrick D

I'm going to go out on a limb and say that since I still have the original non-Preferred/Reserve Sapphire, that I'd be ineligible for the 100k?

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