Downgrading Sapphire
Chase has a rule that you can only hold one Sapphire product at a time. What happens when you close out (or product change out) a Sapphire card – how long do you have to wait until you can apply for a new card?
For example, suppose you received a bonus on the Sapphire Preferred on June 1, 2015. You’ve now crossed the 48 month mark, and are eligible for a new Sapphire bonus. You close the card, or you product change it to become a Freedom. Can you immediately apply for the new Sapphire card?
This has probably been discussed, though I don’t recall off-hand any clear guidance on this. I set to test this out myself.
My Experience
I recently decided to upgrade my plain Sapphire card to become a Sapphire Reserve card to take advantage of the new 1.5 cent cashout option with that card. While calling in, I checked my credit card spreadsheet and noticed that it’s actually been over 4 years since I got any Sapphire bonus. I quickly changed my plan, opting instead to product change the Sapphire card to become another Freedom card, and to subsequently apply for a fresh Sapphire Reserve card, thus netting the extra 50,000 points bonus. (Yep, I’m under 5/24.)
Initially, I planned to wait a few days after product changing before applying. While the card immediately showed up as ‘Freedom’ in my Ultimate Rewards account, it wasn’t yet showing that way in my Chase account, and I wanted to give the Chase system a chance to clear me out. But I decided to put on my blogger hat and test out an application the same day as the downgrade.
No luck. The system instantly denied me, without so much as a hard pull. The next day Chase sent me a letter explaining they could not approve me since, “You already have a Sapphire-branded card account with us”.
To keep up the experiment, I applied again the very next day again. Exact same result – same denial and same letter.
The third day, bolstered by the fact that the new Freedom card already displayed ‘Freedom’ in the Chase login too, I tried another application. Three strikes.
Interestingly, the third time they did hard pull me, and they sent me a new love letter, explained they denied me due to, “Too many requests for credit or opened accounts with us”. Given the hard pull and the altered denial reply, I decided to call in and see if reconsideration could do anything. No such luck: I spoke to the front-line rep and a supervisor, and both insisted there was simply no way for them to manually do anything more than the automated system would allow.
They did mention a 30-day timeframe, explaining that since a card can be reopened for 30 days, the system would not clear me out as a Sapphire cardholder for that length of time. They weren’t entirely sure that 30 days was a hard rule, suggesting it might be more or less than that as well. They suggested I try again at some future date. Ugh, I’d been hoping to get in on the final month of 5x groceries with Sapphire Reserve.
A data point from a reader suggests you don’t need to wait 30 days after a downgrade, and can apply much sooner (their data point was around 10 days after the downgrade). I also had success in less than 30 days, as noted in this follow-up post. Perhaps you can apply once the card shows up in your Chase account as having been product changed, which was – in my case – a day or two after the product change.
Conclusion
Applying within the first few days might not work since it takes time to clear your Sapphire standing out of the system. My guess is three business days is safe. Subsequent data points suggests that even two business days are enough (1, 2).
Presumably, closing a card would yield similar results to product changing, and you’ll have to wait a couple of days before applying again. Others have suggested that for account closures, you do, in fact, need to wait 30 days for it clear out of Chase’s system.
Branch Applications
While you should be able to apply online a few days after product-changing, branch applications have mixed reports. Some reports suggest that for in-branch applications you’ll have to wait until after statement close until the Chase system will recognize you as eligible. (Reader Kurt suggests that the banker can “create a new profile” for you and that will cause the offer to be visible in branch more quickly.) However, others had success in branch after a number of days, even without statement close.
Related:
- Chase Announces Major Temporary Benefits On Sapphire Reserve/ Preferred ‘Pay Yourself Back’ (1.5 Cents Cashout; Easy Travel Credit; $450 Renewal)
- Should You Upgrade To The Chase Sapphire Reserve?
- Reminder: You Can Upgrade To The Chase Sapphire Preferred/Reserve From Chase Slate/Freedom Cards
- Does Upgrading To Chase Sapphire Reserve Restart My 48-Month Signup Bonus Clock?
DP: Chase will NOT do a HP if the product change hasn’t processed yet. (Said another way, Chase will only HP if the system sees the old card cleared out.) So you can safely apply each day until you see the HP occur.
Background: I PC’d my Marriott Premier to a Ritz Carlton on Thursday, applied for the Bonvoy Boundless on Friday. Chase didn’t do a HP and I got a 7-10 day denial letter, stating I already have a Marriott card. So, 24 hours wasn’t enough time to clear out of the system, which is consistent with posts here. When I called Recon they said, “We’re trying to figure out why the system auto-denied you, it doesn’t look like you hold a Marriott card currently…” When I told them I JUST did the product change yesterday, they were like “Oh yeah, that takes one statement to process / clear out.”
I applied again on Monday and Chase did in fact do a HP, meaning the PC went through. Also consistent with posts here. 3-4 calendar days should be sufficient, and it’s very kind of Chase not to HP if the PC hasn’t processed on their end fully, yet.
I’ve also found that there are two lines of Recon reps, the front line folks can’t do much, but when they transfer you to the “special team” (as they call it), they are the real Recon department, that is very competent.
so when did applied the second time after 4 days, did Chase approve it?
Data Point: Success after waiting 4 days (statement did not close during that time)
PC’ed CSR to Freedom (Visa) on Thursday night. Applied for new CSR Monday afternoon. Application was under review, called recon line, moved credit lines around and was approved.
PC’d CSR on 6/6, applied 6/9 to CSP using referral and went to pending but appeared in my account after 5 minutes.
I want to downgrade my CSP. But, I am in no rush. Can I apply for a Freedom card in order to receive the bonus, and then downgrade my CSP? How long do I have to wait to do this after opening the Freedom?
Downgraded a normal Chase Sapphire to a Freedom and the rep told me to wait 2 days before applying for another sapphire product since that was when my closing date was (March 8th at the time). I will apply for a CSP that day and update my results
No update. Fail.
DP – downgraded CSR on Feb 19. Instant approved for CSR Feb 23
Any DP’s for IHG card? I opened the card in 2020, goofed up and missed the MSR for SUB by $30. Want to take advantage of the 150k + $50 + no AF before it disappears
I downgraded my IHG card on Dec 1 and reapplied a couple days later after the logo on my chase homepage changed. No decision at first, waited for several days but then rejected after calling the reconsideration number. They did not hard pull me and told me I was rejected because I already had the same card. I reapplied just now Dec 13 and got it approved instantly. Hope this helps!
Closed my Chase Sapphire (formerly CSP) on 10/17. Went in branch today (10/22) to apply for the 100K offer in branch (still available at my local Chase in Long Beach, CA). Chase banker opened my account and didn’t even have access to apply for the CSP (he showed me the screen). He noted the timing might be too tight and I should wait another week and try again.
Did you end up applying again?
Downgraded my CSR to FU on 10/8 (Friday) and submitted application on 10/11 for CSP through a 100k referral link. Did not get approved but there was a hard pull. Just finished a cal with the Chase rep and got approved after moving credit limit from the FU to the CSP. Now just hoping I get the 100k 🙂
Did you get rejected or just not instantly approved? I did the same as you and got the message your application is taking a little longer.
Downgraded my CSR on 10/2 to CFU. On 10/7 I applied for the CSP and got automatically approved. From what I read, 4 calendar days is the time needed between closing and applying for another Sapphire product.