Source: The Points Guy
Summary
Being an authorized user on someone else’s Chase Sapphire Preferred card does not prevent you from opening your own account or earning the welcome bonus. However, Chase’s Sapphire bonus rules mean eligibility depends on your bonus history and whether you currently hold a Sapphire card as a primary cardholder. To qualify, you must be under Chase’s 5/24 limit, have a credit score of 670 or above, and have never earned a Sapphire Preferred welcome bonus.
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The escape is carefully planned.
With the Chase Sapphire Preferred card, you can earn a 100,000-point bonus after spending $5,000 on purchases in the first three months from account opening. The card offers a chance to earn points that can be transferred to airline or hotel partners, with a value of up to $2,050. However, there are restrictions to note, including Chase’s 5/24 rule and Sapphire family rule. The card requires a credit score of 670 or above and a steady stream of income or substantial savings.
And, of course, there’s the small matter of actually getting approved.
Author: Evan Null
