How to Downgrade Your Chase Sapphire Card

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Strategically Downgrading Your Chase Sapphire to Earn the Sign-up Bonus Again

Thinking about maximizing your Chase Ultimate Rewards? A common strategy involves strategically downgrading your Chase Sapphire Preferred® or Chase Sapphire Reserve® card with the goal of being eligible to reapply and earn the valuable sign-up bonus again. Here's how it works and what you need to know:


The Core Strategy: Downgrade and Wait

The key to this strategy lies in understanding Chase's rules around signup bonuses. Generally, you're not eligible for a new Sapphire bonus if you currently hold any Sapphire card or have received a new cardmember bonus for any Sapphire card within the last 48 months.

Therefore, the first step is to downgrade your existing Chase Sapphire Preferred® or Reserve card to a different Chase card product.

How to Initiate the Downgrade:

Just like a regular downgrade, you'll need to call the number on the back of your Chase Sapphire card. Inform the representative that you'd like to perform a product change to a different Chase card. Popular choices for downgrading include the no-annual-fee Chase Freedom Unlimited® or Chase Freedom Flex®.

What Happens During the Downgrade:

  • Card Details: Typically, your credit card number, credit limit, and APR will remain the same.
  • Annual Fee: You may receive a prorated refund of your annual fee, depending on when it was paid. This is a nice perk if you're downgrading shortly after the fee posted.
  • Temporary Card Use: You can usually continue using your old Sapphire card until your new card arrives.
  • Points Value: Be aware that if you don't have another premium Chase card, your Ultimate Rewards points will be valued at 1 cent each in the Chase portal. However, if your primary goal is to reapply for a Sapphire, this is a temporary consideration.
  • Credit Impact: This is a soft inquiry, so it won't hurt your credit score or affect your 5/24 status.
  • Credit History: Your credit history remains intact.

The Practical Waiting Period After Downgrading:

While the core eligibility for a new Sapphire bonus hinges on the 48-month rule (from when you last received a Sapphire bonus), there's a practical consideration after you downgrade your existing Sapphire card. Some sources suggest waiting at least 30 full days after the downgrade is processed before attempting to apply for a new Sapphire card, however many cardholders have reapplied after as few as 7 days with success. If you are in a time crunch, waiting 7-10 days should be plenty.

In short: Downgrade your Sapphire, wait at least 7 days, and also ensure it has been more than 48 months since you received your last Sapphire new card member bonus before reapplying.

Important Considerations:

  • Confirm Downgrade Options: Always confirm with the Chase representative which cards you can downgrade to.
  • Track Your Bonus History: Keep accurate records of when you received your last Sapphire bonus to ensure you meet the 48-month requirement.
  • Reapplication Timing: While waiting at least 30 days post-downgrade is recommended, always prioritize the 48-month bonus rule before reapplying.
  • 5/24 Rule: Be sure that you have not opened more than 5 personal credit cards in the past 24 months. Chase will NOT approve you for a new credit card if you are over 5/24. If you haven't already, download the Travel Freely app to track your 5/24! 

As always, we truly appreciate it when you use our referral links! It's free for you, and it's a great way to say thanks!

Happy travel! ✈️🌍

The Travel Savvy Family

- Wander More, Spend Less

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