If you’ve had the Chase Sapphire Preferred or Reserve card for at least 48 months, you might be eligible to earn another sign-up bonus — but it’s best to follow this specific strategy. Here’s a simple, step-by-step guide to downgrading your Sapphire card so you can reapply and earn another bonus!

Step 1: Make Sure You're Eligible

Before you do anything, check these three rules:

• 48-Month Rule – You can’t get a new bonus if you’ve received one on any Sapphire card in the past 48 months.

• One Sapphire Rule – You’re not allowed to have two Sapphire cards at the same time.

• 5/24 Rule – You must have opened fewer than 5 personal credit cards in the past 24 months (from any bank, not just Chase).

If you meet those three conditions, you’re good to go.

Step 2: Downgrade Instead of Canceling

To become eligible again, you’ll need to downgrade your Sapphire card to a different Chase card — not cancel it.

Downgrading helps you:

• Keep your credit history and limit intact (which protects your credit score),

• Avoid losing your points, and

• Avoid paying the annual fee.

Here are your options:

Option 1: Chase Freedom Unlimited (Visa)

• No annual fee

• Earns 1.5% back on everything

• Great for simple, flat-rate rewards

Option 2: Chase Freedom Flex (Mastercard)

• No annual fee

• Earns 5% back on rotating quarterly categories (like gas, groceries, PayPal, etc.)

• Mastercard version with added perks

Option 3 (Hidden): Original Chase Freedom (Visa)

• No longer available to new applicants

• Ideal for those who prefer 5% on rotating quarterly categories - which can sometimes include big box stores like Costco and Sam’s Club.

• You must ask for it by name when you call to downgrade — Chase won’t offer it unless you specifically request it. Call the number on the back of your card and ask to downgrade to the “original Chase Freedom Visa.”

Step 3: Wait 7-14 Days

After your downgrade is processed, give Chase about 7 to 14 days to update your account. This ensures their system sees that you no longer have a Sapphire card — which is key to making you eligible again.

Step 4: Reapply for the Sapphire Preferred or Reserve

Once you’ve waited the 7–14 days, you can submit a new application for the Chase Sapphire Preferred.

If you meet all of the rules above, you should be eligible for the current sign-up bonus — which is often 60,000–100,000 points.

A Few Extra Tips

• Annual Fee Refund – If your annual fee recently posted, downgrading within 30 days should get you a full refund. After that, you’ll usually get a prorated credit.

• Timing Elevated Offers – Chase historically issues elevated sign up bonuses in the Spring. In 2025, for example, Chase offered a 100,000 point SUB for the Sapphire Preferred in April and May – nearly double the regular 60,000 point offer. Since you can only obtain a Chase Sapphire SUB once every 4 years, it’s worth waiting for an elevated offer.

Downgrading your Chase Sapphire Preferred or Reserve is the smartest way to reset the clock, protect your credit score, and line yourself up to earn a big sign-up bonus again — all without losing any of your hard-earned points.

If you’d like help figuring out your exact timeline or want a personalized strategy for maximizing your points, schedule a consultation — we’ll map out the best moves for you.