Questions and Answers

I’m about twelve months away from emerging from the Chase 5/24 rule, at which point I think Chase will approve me for two more cards. Hopefully the Ink Preferred still has the big bonus and will be a no-brainer; I figured I would also apply for a Freedom Unlimited, which I don’t have … but then I remembered you’re re-eligible for a product sign-up bonus after 24 months, and that Chase lets you transfer cards between programs.

I already got a Chase Sapphire Preferred over 12 months ago … could I apply for ANOTHER Sapphire Preferred, get another 50,000 points (or whatever the bonus may be), then change my older Sapphire Preferred into a no-fee Freedom Unlimited? Is my reasoning sound here? Is there a pitfall or fine print I’m missing?

I don’t think Chase will let you get a second CSP if you’re still holding one. I think you’d have to first downgrade your CSP to Freedom Unlimited and then reapply – though I thought you couldn’t get the bonus if you’ve received it in the last 24 months. Though you’re planning a year out so it would be 24 months since you got the last CSP bonus, is that right? And someone please correct me if I’ve misstated this.