Why I Applied For The Chase Sapphire Preferred Even Though I Already Had The Chase Sapphire Reserve
Like many people who fuel their travel dreams with points and miles, I'm always on the hunt for big rewards opportunities. So the latest 100,000-point welcome offer for the Chase Sapphire Preferred® Card immediately activated the pleasure-seeking part of my brain. I can't even tell you the daydreams I started having about where my family could go with 100K Chase Ultimate Rewards® points. (It probably rhymes with Shmeroo, has ancient ruins and llamas and has been on my bucket list for quite some time).
Of course, big bonuses usually come with big spending requirements—and the Chase Sapphire Preferred® Card is no exception, with a welcome offer of 100,000 bonus points after spending $5,000 on purchases in the first three months from account opening. But fortune favors the bold, and as it turns out, my family had a sizable summer bill coming up and we had the cash ready to pay it off immediately. I also confirmed on my tracking sheet (what did you expect? I'm a credit card reporter!) that I was under 5/24—meaning I've been approved for less than five cards in the past 24 months—and thus eligible to apply for a new Chase card. So the timing was right.
However, there was one big barrier between me and llama nirvana. I already owned a Chase Sapphire Reserve®, which made me ineligible for the bonus—at least without a little maneuvering.
Earn 100,000 bonus points after you spend $5,000 on purchases in the first 3 months from account ... More opening.
Chase Sapphire Preferred® Card - See Rates & Fees
Chase Sapphire cards only allow you to earn a welcome bonus on a card if you don't currently own a Sapphire card and if you haven't earned the welcome bonus on a Sapphire card within the previous 48 months. I applied for and received my Chase Sapphire Reserve card way back in February 2017. The card launched in 2016 with a then-groundbreaking 100,000-point welcome offer.
I was fairly new to points and miles at the time, and this was my first premium credit card. I had a lot of fun using that bonus (rewards history fans may fondly recall the Marriott/United packages that were a steal back then), and it got me hooked on the thrill of taking trips I would have otherwise not been able to do. Points and miles have made impossible travel dreams for me and my family possible by greatly reducing our out-of-pocket costs.
I know, I'm getting misty-eyed too, and you haven't even seen how cute my kids are on our adventures. The crucial point here is that I got my Chase Sapphire Reserve in 2017, so I was well past the 48-month threshold to be eligible for a bonus on a Sapphire card. That put the Sapphire Preferred's bonus one step closer within reach.
To completely qualify for the Sapphire Preferred, I also had to not be a Sapphire cardholder at the time of my application. Yes, that means it was time to say farewell to my trusty Reserve.
I can't lie, I had some feelings about it. It was a gateway card to a whole new world of opportunity for me. But in this case, change was necessary. I called Chase and asked to downgrade my Reserve to the no-annual-fee Chase Freedom Unlimited®. Boom! I was no longer a Sapphire cardholder (for the moment).
Downgrading kept my account number the same, but the card's rewards rates and other details were now those of the Freedom Unlimited. There was no hard credit pull and the new card is on its way in the mail, but in the meantime, I could just keep using the metal card that was formerly known as my Reserve card.
I waited a few days to make sure everything was switched over, and then I applied online for my new Chase Sapphire Preferred. And I'm pleased to report that I was approved! I've uploaded it to my Apple Wallet, and now I'm just waiting for the physical card in the mail.
It's important to know that while you can downgrade a card at any time by swapping it for an eligible one by the same issuer at a lower fee, you cannot upgrade to a card with a higher annual fee for a minimum of a year after getting the original card. Federal legislation known as the CARD Act of 2007 includes a provision that prohibits issuers from raising your annual fee on a card within the first year after opening your account.
This means if you really want the Sapphire Reserve but are thinking about going for the Sapphire Preferred for the bonus and then later upgrading, you'll have to wait a full year to do so.
If you already own a Sapphire card, but you've had it for over 48 months, you might be able to put yourself in an eligible position to apply for the current 100,000-point welcome offer on the Chase Sapphire Preferred. There are a few boxes to check off, but if you're under 5/24, this is a bonus worth going for.
Information provided on Forbes Advisor is for educational purposes only. Your financial situation is unique and the products and services we review may not be right for your circumstances. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. Performance information may have changed since the time of publication. Past performance is not indicative of future results.
Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author's alone and have not been provided, approved, or otherwise endorsed by our partners.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
an hour ago
- Business Wire
Exelixis Announces Zanzalintinib in Combination with an Immune Checkpoint Inhibitor Improved Overall Survival in STELLAR-303 Phase 3 Pivotal Trial in Patients with Metastatic Colorectal Cancer
BUSINESS WIRE)-- Exelixis, Inc. (Nasdaq: EXEL) today announced positive topline results from the STELLAR-303 phase 3 pivotal trial in which zanzalintinib in combination with atezolizumab (Tecentriq ®) demonstrated a statistically significant improvement in overall survival (OS) versus regorafenib in the intent-to-treat (ITT) population of patients with previously treated non-microsatellite instability (MSI)-high metastatic colorectal cancer (CRC). These topline findings are from the final analysis conducted by the Independent Data Monitoring Committee of one of the dual primary endpoints of the STELLAR-303 phase 3 trial. The trial will proceed to the planned final analysis for the other dual primary endpoint of OS in patients without liver metastases (non-liver metastases, NLM). The safety profiles of zanzalintinib in combination with atezolizumab and of regorafenib were generally consistent with what has been previously observed, and no new safety signals were identified. The ITT population consisted of all randomized patients, regardless of the presence of liver metastases. The NLM subgroup consisted of patients who did not have active liver metastases at baseline as determined by investigator assessment. 'The STELLAR-303 results, which showed a survival benefit with the combination of zanzalintinib and atezolizumab versus regorafenib across all randomized patients with previously treated metastatic colorectal cancer, marks an important first milestone for our zanzalintinib pivotal development program,' said Amy Peterson, M.D., Executive Vice President, Product Development & Medical Affairs, and Chief Medical Officer, Exelixis. 'We look forward to discussing the findings with regulatory authorities and presenting the detailed results at an upcoming medical conference.' Secondary endpoints of STELLAR-303 include progression-free survival, objective response rate and duration of response in the ITT population and in the NLM subgroup of patients. Exelixis plans to submit detailed results of STELLAR-303 for presentation at an upcoming medical conference. About STELLAR-303 STELLAR-303 (NCT05425940) is a global, multicenter, randomized, phase 3, open-label study that randomized 901 patients 1:1 to either zanzalintinib (100 mg) in combination with atezolizumab or regorafenib. The study includes patients with previously treated non-MSI-high metastatic CRC. The dual primary endpoints of the study are OS in the ITT population and in the NLM subgroup of patients. Presence of liver metastases at baseline for all enrolled patients was determined by investigator assessment. Secondary endpoints include progression-free survival, objective response rate and duration of response in the ITT population and in the NLM subgroup of patients. More information about the trial is available at About Zanzalintinib Zanzalintinib is a third-generation oral tyrosine kinase inhibitor that inhibits the activity of receptor tyrosine kinases implicated in cancer growth and spread, including VEGF receptors, MET, AXL and MER. These receptor tyrosine kinases are involved in both normal cellular function and in pathologic processes such as oncogenesis, metastasis, tumor angiogenesis and resistance to multiple therapies, including immune checkpoint inhibitors. With zanzalintinib, Exelixis sought to build upon its extensive experience with the target profile of cabozantinib, the company's flagship medicine, while improving key characteristics, including pharmacokinetic half-life. Zanzalintinib is currently being developed for the treatment of advanced solid tumors, including colorectal cancer, kidney cancer, head and neck cancer and neuroendocrine tumors. Zanzalintinib is an investigational agent that is not approved for any use and is the subject of ongoing clinical trials. About CRC CRC is the third most common cancer and the second leading cause of cancer-related deaths in the U.S. 1 Approximately 154,000 new cases will be diagnosed in the U.S. with around 53,000 expected deaths from the disease in 2025. 1 CRC is most frequently diagnosed among people aged 65-74 and is more common in men and in people of non-Hispanic American Indian/Alaska Native descent. 2 Nearly a quarter of CRC cases are diagnosed at the metastatic stage, at which point the five-year survival rate is just 16.2%. 2 The liver is the most common site for CRC metastasis. Liver metastases significantly impact survival, with a median five-year survival rate of less than 14% when treated with palliative chemotherapy. 3 About Exelixis Exelixis is a globally ambitious oncology company innovating next-generation medicines and regimens at the forefront of cancer care. Powered by drug discovery and development excellence, we are rapidly evolving our product portfolio to target an expanding range of tumor types and indications with our clinically differentiated pipeline of small molecules, antibody-drug conjugates and other biotherapeutics. This comprehensive approach harnesses decades of robust investment in our science and partnerships to advance our investigational programs and extend the impact of our flagship commercial product, CABOMETYX ® (cabozantinib). Exelixis is driven by a bold scientific pursuit to create transformational treatments that give more patients hope for the future. For information about the company and its mission to help cancer patients recover stronger and live longer, visit follow @ExelixisInc on X (Twitter), like Exelixis, Inc. on Facebook and follow Exelixis on LinkedIn. Forward-Looking Statements This press release contains forward-looking statements, including, without limitation, statements related to: the therapeutic potential of the combination of zanzalintinib in combination with atezolizumab to improve overall survival in patients with metastatic CRC; Exelixis' plans to discuss the trial data from STELLAR-303 with regulatory authorities and to present detailed findings at an upcoming medical conference; and Exelixis' scientific pursuit to create transformational treatments that give more patients hope for the future. Any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements and are based upon Exelixis' current plans, assumptions, beliefs, expectations, estimates and projections. Forward-looking statements involve risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements as a result of these risks and uncertainties, which include, without limitation: the availability of data at the referenced times; complexities and the unpredictability of the regulatory review and approval processes in the U.S. and elsewhere; Exelixis' continuing compliance with applicable legal and regulatory requirements; unexpected concerns that may arise as a result of the occurrence of adverse safety events or additional data analyses of clinical trials evaluating zanzalintinib; Exelixis' dependence on third-party vendors for the development, manufacture and supply of zanzalintinib; Exelixis' ability to protect its intellectual property rights; market competition; changes in economic and business conditions; and other factors affecting Exelixis and its development programs detailed from time to time under the caption 'Risk Factors' in Exelixis' most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, and in Exelixis' future filings with the Securities and Exchange Commission. All forward-looking statements in this press release are based on information available to Exelixis as of the date of this press release, and Exelixis undertakes no obligation to update or revise any forward-looking statements contained herein, except as required by law. Exelixis, the Exelixis logo and CABOMETYX are registered U.S. trademarks of Exelixis. TECENTRIQ is a registered U.S. trademark of Genentech, a member of the Roche Group. ___________________________ 1 Key Statistics for Colorectal Cancer. ACS website. Available at: Accessed June 2025. 2 Cancer Stat Facts: Colorectal Cancer. SEER website. Available at: Accessed June 2025. 3 Ros J, Salva F, Dopazo C, et al. Liver transplantation in metastatic colorectal cancer: are we ready for it? Br J Cancer. May 2023;128(10):1797-1806.
Wall Street Journal
21 hours ago
- Wall Street Journal
The Most Exclusive Credit Cards Are About to Get Even More Expensive
When JPMorgan Chase said it was raising the annual fee by 45% on its popular Sapphire Reserve credit card, longtime cardholder David O'Brien didn't notice. 'My eyes glaze over with this stuff,' said the 36-year-old New York lawyer.
Yahoo
2 days ago
- Yahoo
JPMorgan, Amex flash new cards
This story was originally published on Payments Dive. To receive daily news and insights, subscribe to our free daily Payments Dive newsletter. American Express and JPMorgan Chase are ramping up their competition for upscale cardholders. JPMorgan fired the opening salvo when it teased a refresh of its Sapphire Reserve credit card last week on its Instagram page. Amex then touted major changes coming later this year to its Platinum cards via a Monday press release. On Tuesday, as JPMorgan unveiled hundreds of dollars worth of new perks and pricing for its premium Sapphire Reserve card, the bank said it would hike annual fees for the card by 45% to $795. The Amex Platinum card currently has an annual fee of $695. The American Express Platinum card and the Sapphire Reserve card are both geared to higher-income consumers. Both charge hefty annual fees, but provide perks like dining and travel credits or priority reservations at exclusive restaurants. Amex dominated the premium card network until Chase launched the Sapphire Reserve card in 2016. The American Express card refresh was likely in the works for months before the card network's Monday news release, TD Cowen analyst Moshe Orenbuch said in an interview. But the timing of the company's initial announcement, just days after JPMorgan's Instagram post, was likely not a coincidence, Orenbuch said. "There's a definite competitive dynamic going on there," Orenbuch said. Amex's news release amounted to an announcement for an announcement planned later this year, giving very little new information and saying more details would come. 'I would say that maybe they rushed that announcement,' Orenbuch suggested. Although he stressed that Amex does not appear to be rushing the refresh itself. 'These are not things you can do by flipping a switch,' he said. An American Express spokesperson declined to comment on the timing of its release or say precisely when the card network will provide more information on the refresh. Amex and JPMorgan aren't just competing with each other when they update their premium cards, said Tony DeSanctis, senior director of payments for the consulting firm Cornerstone Advisors. 'They're also thinking about buy now, pay later,' he said in an interview. American Express has openly courted members of Gen Z, who are increasingly using BNPL, he noted, and the perks on premium cards must appeal to members of that demographic who are looking for alternatives to credit cards. JPMorgan's Instagram marketing post was light on details until the company sent out a news release announcing the new fees and perks on Tuesday. The list of new perks for the Sapphire Reserve card include a $500 annual credit at certain hotels and resorts and a $300 credit at restaurants that are part of the Sapphire Reserve's dining program. It remains to be seen what new perks Amex will offer cardholders, but the company said the forthcoming changes would represent its largest ever investment in a card refresh. That likely means bigger annual fees and more perks, Orenbuch said. 'This is not just about raising the price,' he said. 'You have to provide significantly more value than the increase in price to the consumer.' Recommended Reading Amex, Fiserv cite inflation benefit
