Want the 100,000-point Chase Sapphire Preferred bonus? Make sure you meet these requirements first. (expired)
The current Chase Sapphire Preferred® Card welcome bonus is among the best the card has ever offered.
For a limited time, you can earn 100,000 Chase Ultimate Rewards points — worth as much as $1,250 toward future travel — after spending $5,000 within the first three months of account opening.
But before enjoying those big rewards, every new cardholder must meet some eligibility requirements. We checked the fine print to help you figure out whether you qualify.
Read more: All about the limited-time 100,000-point Chase Sapphire Preferred offerYou must get approved for the card and spend $5,000 within the first three months to earn the limited-time Chase Sapphire Preferred welcome bonus.
However, you could be ineligible if you meet either of these criteria:
You currently have aChase Sapphire credit card
You're a previous Chase Sapphire cardholder who received a new cardmember bonus within the last 48 months
The good news is that you're not automatically excluded if you've had a Chase Sapphire Preferred Card or earned a Chase Sapphire bonus in the past. Here's more info about the limitations:
Chase only allows cardholders to own one Chase Sapphire card at a time. You cannot have multiples of the Chase Sapphire Preferred or Chase Sapphire Reserve®, and you cannot hold both cards simultaneously.
If you do have a Chase Sapphire card and apply for a new Chase Sapphire Preferred Card to get the limited-time bonus, your application won't be approved.
Asking for a product change won't suffice either. If you currently have a Sapphire Reserve card, you may be eligible to switch to the Sapphire Preferred, but that swap won't qualify for the 100,000-point bonus.
Related: Best rewards credit cards
The 48-month rule applies whether you currently have a Chase Sapphire card or did in the past. You can check your past statements to find out exactly how long ago you earned a welcome bonus with Chase.
For example, I opened a Chase Sapphire Preferred and earned the 100,000-point bonus the last time it was offered in 2021. I didn't apply for the card until June, and the bonus was awarded on my August statement. Because that was less than 48 months ago, I'm not currently eligible — and wouldn't be eligible to earn a new Chase Sapphire bonus until August 2025.
Remember, you can only earn a Chase Sapphire welcome bonus if you haven't earned another new cardmember bonus from either the Chase Sapphire Preferred or Chase Sapphire Reserve within the past 48 months. That means 48 months since you received the bonus, which could be weeks or months after you actually applied for the card, depending on when you meet the spending requirement.
Related: The best credit card sign-up bonuses
To have the opportunity to earn the 100,000-point welcome offer, you'll first have to get approved as a Chase Sapphire Preferred cardholder. This travel rewards card generally requires a solid credit history, and you're most likely to get approved if you have a good-to-excellent credit score.
But for Chase card applications, you should also watch out for the issuer's unofficial (yet broadly discussed) 5/24 rule.
This guideline prevents you from opening a new Chase credit card account if you have opened five or more new credit cards within the past 24 months. That includes credit cards from any issuer, not just Chase. Even if you would otherwise qualify for the Chase Sapphire Preferred, you'll likely get denied if you've surpassed the 5/24 threshold.
Related: How to apply for a credit card
Couples and families can benefit from combining points from different Chase accounts within the same household. This can be a good option if you don't qualify for the Chase Sapphire Preferred bonus but a loved one is interested in the card.
Say, for example, you already have a Chase Sapphire Reserve account you opened a year ago — making you ineligible for the limited-time Chase Sapphire Preferred Card offer. But your spouse does not have a Chase Sapphire account and is eligible. They could open a Chase Sapphire Preferred Card and earn the 100,000-point bonus.
As members of the same household, you can combine your points under the same account when you're ready to redeem for future travel — just call the number on the back of your card to request the transfer between accounts and confirm you have the same home address (you can only share points with one designated person).
Before your other household member applies, you should make sure the card makes sense for their overall spending and budget. If they don't get enough value to justify the ongoing annual fee, for example, or can't afford to pay off balances before accruing interest, this tactic could cost more in the long run than the benefits are worth.
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This article was edited by Alicia Hahn.
Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank's website for the most current information. This site doesn't include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.
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