When Chase launched that massive 100,000-point bonus on the Sapphire Preferred, I made a big move: I canceled my Sapphire Reserve so I could apply. I even wrote about it at the time: Did I Mess Up With the Chase Sapphire Preferred 100K Offer?
One of our readers left a comment that, in hindsight, was either impressively insightful or they knew something the rest of us didn’t. They said:
“The CSR will likely offer a new sign-up bonus this year when they raise the fee and add new features, as we learned from leak Chase training documents. I wouldn’t be surprised if it’s 100k or even higher.”
They weren’t wrong, but what nobody saw coming was what Chase had planned next.
A Rule Rewrite
Up until now, Chase had a very strict rule regarding the Sapphire cards. You couldn’t:
- Hold both the Sapphire Preferred and Sapphire Reserve at the same time
- Earn a sign-up bonus if you have received any Sapphire bonus within the last 48 months
That’s why I canceled my Sapphire Reserve to go for the Sapphire Preferred bonus.
But starting June 23, 2025, those rules are getting a major overhaul. You’ll now be able to hold both cards simultaneously. As for bonus eligibility, Chase will now assess factors such as your prior bonus history and the number of cards you’ve opened or closed, similar to the pre-approval pop-up American Express uses.
What Chase isn’t doing (yet) is adding a rule like American Express’ “Little Brother” policy, where you can’t get a bonus on a lower-tier card if you’ve already held the higher one. In other words, there’s no rule saying you can’t get a CSP bonus if you’ve had the CSR before.
So… Was the Sapphire Preferred Bonus a Setup?
Looking back, it sure feels like Chase was playing the long game.
That 100,000-point Sapphire Preferred offer may have looked like a one-off attention grab, but now it seems more like step one in a coordinated rollout. It got a lot of people to sign up — or re-sign up — for the card. And it forced existing Sapphire Reserve cardholders (like me) to cancel their card to qualify for the CSP bonus.
That cleared the field just in time for what’s next: a refreshed Sapphire Reserve, with rumored new features and possibly an even bigger sign-up bonus.
And now, with the dual-card restriction going away, Chase is poised to let high-value customers carry both cards, while still keeping the power to deny bonuses based on account history.
Final Thought
Whether this was Chase’s long-term plan or just a perfectly timed coincidence, it’s clear they knew something big was coming. The Sapphire Preferred offer pulled in a wave of applicants. Now, the rules have changed, the Sapphire Reserve is getting a refresh, and Chase holds all the cards — literally and figuratively.
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2 comments
I did exactly the same as you with closing my old CSP and reapplying. I’m not sure that getting both the Preferred and the Reserve is a setup though. Sure, the 100K points was a pretty big enticement but for 95 bucks it’s not that big an investment in my view. I’m interested in seeing what the signup bonuses will be for the new cards. The value proposition for them is pretty bad for me but a juicy signup bonus might change that for a year. Either way I’d say that there’s little downside to having both available.
What is the benefit to holding both a CSP and CSR, if any? The Amex Gold, for example, offers a ton of bonus categories that the Platinum does not.