Thread: I know I already have the card; I just want the $500 now, please.

So I applied for a Chase Sapphire Preferred card under the new promotion that offers $500 worth of points after spending $3k in three months knowing that I already had a regular Sapphire, which I got when the card was first rolled out by Chase.

I had hoped they would just send the "preferred" card and I would be on my way to another $500 in the bank. Sadly, no.

I wasn't spurned exactly, but rather was told I already had a Sapphire and invited to call them to talk about "my needs" in the credit area. This can't be anything but an invitation to grovel for the $500 that we both know I want, so I'm going to pass, taking with me a lesson about the perils of being an early adopter.

Sorry to hear that! When you originally signed up for the regular Freedom what promotion did you get, the $100? Sometimes the early offers can be the best because they create buzz but I think the reason that wasn't the case with the Sapphire when it first came out is because it was launched during the recession.

I'm on the fence about whether to grab the Sapphire Preferred offer too. The only reason I am not pulling the trigger is because I got that Chase BA offer I talked about in my other post a month ago and then with a total of 3 hard pulls this year, I need to cool down for a while.

If these offers continue though I would like to try and wrap out 2011 with $2,000 in credit card bonuses, not counting my rewards.

So do you think I should cancel the Sapphire and wait a while (how long?) and then apply for the "preferred" to get whatever bonus is being offered at the time?

I applied for and got the Sapphire when it was first introduced; there was no bonus whatsoever. I really wish I would have waited.

Originally Posted by jeffysdad

So do you think I should cancel the Sapphire and wait a while (how long?) and then apply for the "preferred" to get whatever bonus is being offered at the time?

That's tough to say. I'm not sure what their rules are with qualifying for these bonuses- never being a cardholder? Or not currently being a cardholder? I'm not even sure if customer support would be able to answer that. Personally I wouldn't risk it due to all the unknowns about qualifying for the bonus and if the bonus will even be around in the future when you would re-apply. Don't worry because assuming the economy doesn't worsen, I think we will see offers similar to this on a somewhat regular basis. Actually CCF started advertising something similar for the Citi ThankYou Premier starting last Friday. It's too bad I signed up when its bonus was only $200.