Can I get Chase Sapphire Preferred if I have Freedom Unlimited?

Can I get Chase Sapphire Preferred if I have Freedom Unlimited?

The simple answer is yes, you can get the Chase Sapphire Preferred even if you already have the Freedom Unlimited card. In fact, many individuals hold multiple Chase credit cards simultaneously to maximize the benefits and rewards offered by each card.

Chase, like other credit card issuers, generally considers your creditworthiness and credit history when determining your eligibility for a new credit card. While having an existing Chase credit card might slightly influence the decision, it is not a deal-breaker.

With the Chase Sapphire Preferred card being one of the most popular travel rewards credit cards, it offers several advantages that might interest cardholders who already possess the Freedom Unlimited card:

1. Enhanced Travel Benefits: The Chase Sapphire Preferred provides additional travel perks such as trip cancellation/interruption insurance, baggage delay insurance, and primary car rental insurance, which are not available with the Freedom Unlimited card.

2. Lucrative Rewards: While both cards offer valuable rewards, the Chase Sapphire Preferred provides an enhanced rewards program for travel and dining expenses. Cardholders earn 2x points per dollar spent on travel and dining, making it an appealing option for frequent travelers and food enthusiasts.

3. Transferrable Points: An advantage of holding the Chase Sapphire Preferred alongside the Freedom Unlimited card is the ability to transfer points between them. This flexibility allows you to optimize your points' value and redemption options.

4. Welcome Bonus: The Chase Sapphire Preferred often comes with an attractive sign-up bonus, which is an excellent opportunity to accumulate a substantial number of points quickly. If you are interested in maximizing your rewards, this could be an enticing reason to apply for the card, even if you already have the Freedom Unlimited.

Despite the many advantages, it is important to consider potential drawbacks when applying for and holding multiple credit cards:

1. Annual Fees: While the Freedom Unlimited card is fee-free, the Chase Sapphire Preferred comes with an annual fee. Before applying for the Chase Sapphire Preferred, it is important to assess whether the benefits and rewards outweigh the cost of the fee.

2. Credit Limit: Applying for a new credit card might require a credit limit increase or redistribution across your existing cards. Chase will evaluate your creditworthiness and history to determine your credit limit, so it is crucial to consider your overall credit utilization and its impact on your credit score.

In conclusion, it is absolutely possible to obtain the Chase Sapphire Preferred card if you already possess the Freedom Unlimited card. The two cards complement each other, offering distinct benefits and rewards. However, it is essential to carefully assess your financial situation, credit score, and individual preferences before applying for multiple credit cards. By doing so, you can optimize your rewards potential and enjoy the benefits that each card has to offer.

Frequently Asked Questions

Yes, you can have both Chase Sapphire Preferred and Freedom Unlimited cards at the same time. These are two different credit cards offered by Chase, and there is no restriction on having both of them in your wallet.

Yes, you can still receive the sign-up bonus for Chase Sapphire Preferred even if you already have the Freedom Unlimited card. Each card has its own sign-up bonus eligibility, and as long as you meet the requirements for Chase Sapphire Preferred, you can receive its bonus.

Yes, you can transfer the rewards earned on your Freedom Unlimited card to your Chase Sapphire Preferred account. Both cards are part of the Chase Ultimate Rewards program, which allows you to combine and transfer points between eligible Chase cards.

While a good credit score is generally required to be eligible for premium credit cards like Chase Sapphire Preferred, there is no specific score mentioned by Chase as a requirement. Your creditworthiness and other factors will be evaluated during the application process for both cards.

Yes, it is possible to downgrade your Chase Sapphire Preferred to Freedom Unlimited. Chase allows product changes or downgrades between its credit cards, but it is subject to their terms and conditions. It would be best to contact Chase directly to inquire about the process and any potential impact on your account.