Breaking News: I Got the NEW Chase Sapphire Reserve 100K Bonus in Under 48 Hours After Downgrading My Preferred!

Hey Blerd Fam! The past few weeks have been a whirlwind of excitement and a little confusion surrounding the revamped Chase Sapphire Reserve. We've talked about the higher annual fee, the incredible new bi-annual credits, and the game-changing shift in Chase's "one Sapphire" rule. But there's been one lingering question that truly impacts strategy: how quickly can you snag a new Sapphire bonus after downgrading your existing Sapphire card?

Well, I'm thrilled to report I've got a definitive, personal answer, and it's fantastic news for anyone looking to "level up" their wallet and grab that lucrative 100,000 Ultimate Rewards points + $500 Chase Travel℠ credit bonus!

The Old Dilemma: Waiting in Limbo for a New Sapphire Bonus

For years, the conventional wisdom for earning a new Chase Sapphire sign-up bonus after holding or receiving a bonus on another Sapphire card was... to wait. And wait. And wait some more. Experts often advised periods of 30 days or even longer after downgrading or closing a Sapphire card to ensure Chase's internal systems recognized you as "Sapphire-free" for bonus eligibility.

This long waiting game was frustrating, especially when attractive new offers like the current Chase Sapphire Reserve bonus emerged. The thought of missing out because a system hadn't updated yet was a real concern.

My Personal Experiment: Downgrade to Dream Card in Under 48 Hours!

Armed with the latest information about the new Sapphire rules (which launched on June 23, 2025), I decided to test the waters. Here's my recent timeline:

• Monday, June 23rd: I downgraded my existing Chase Sapphire Preferred card to a no-annual-fee Chase Freedom Unlimited.

• Tuesday, June 24th: Eager to apply for the new Chase Sapphire Reserve and its incredible 100,000-point bonus, I submitted an application online. To my disappointment, I received the dreaded pop-up message: "You are not eligible for a new cardmember bonus because you currently have another personal Sapphire card open." As advised, I closed the application immediately to avoid a hard credit pull.

• Wednesday, June 25th (TODAY!): Less than 48 hours after downgrading my Sapphire Preferred, I decided to try again. I submitted a new application for the Chase Sapphire Reserve online. Lo and behold, NO POP-UP! My application went through, and I was APPROVED!

This was huge, but to be absolutely sure, I immediately called Chase's reconsideration line to confirm bonus eligibility. The representative cheerfully confirmed that I would indeed receive the 100,000 Ultimate Rewards points plus the $500 Chase Travel℠ credit after meeting the $5,000 spend requirement within three months. This confirmed the current, publicly advertised bonus offer for the new Sapphire Reserve.

What This Breakthrough Means for Your Sapphire Strategy

My experience is a game-changer for anyone looking to cycle through Chase Sapphire cards and earn a new bonus. While individual situations may vary, this personal data point strongly suggests:

1. Rapid System Updates: Chase's internal systems appear to update much faster than the old "wait 30 days" advice. It seems that within 2 business days (or potentially even less!), their system recognizes a downgrade or product change.

2. The Pop-Up is Your Best Friend: The online bonus eligibility pop-up is a reliable indicator. If you see it, stop the application. If you don't, you're likely in the clear.

3. Bonus Eligibility is Product-Specific (with a Current Holding Catch): As we covered in our deep dive, the old "48-month family rule" is gone, replaced by a "once per lifetime per product" bonus. However, the critical caveat remains: you generally can't receive a bonus for the CSR if you currently hold a CSP, and vice-versa. My experience confirms that downgrading your existing Sapphire card first is the key.

Your Actionable Path to the NEW Chase Sapphire Reserve Bonus

If you're a current Chase Sapphire Preferred cardholder dreaming of the Sapphire Reserve's new $795 annual fee, its $550 in bi-annual credits, and that incredible 100,000-point welcome offer (plus the $500 Chase Travel credit!), here's a potential strategy based on my success:

1. Product Change Your Existing Sapphire Preferred: Call Chase and request to product change your Sapphire Preferred to a no-annual-fee card like the Chase Freedom Unlimited or Chase Freedom Flex. This preserves your credit history and Ultimate Rewards points. Ensure your card has been open for at least 12 months before downgrading to avoid any issues.

2. Wait a Short While: My experience shows less than 48 hours (2 business days) was sufficient. To be safe, maybe give it 2-3 full business days to allow Chase's systems to fully update.

3. Apply for the Chase Sapphire Reserve Online: Go directly to Chase's website and apply for the Chase Sapphire Reserve.

4. Watch for the Pop-Up: This is crucial! If you receive the pop-up message indicating you're ineligible for the bonus, do NOT proceed. Close the application and wait another day or two before trying again. If you don't see the pop-up, you're likely good to go.

5. Confirm Eligibility (Optional, but Recommended): Once approved, you can call Chase's customer service or reconsideration line to verbally confirm your bonus eligibility. This provides extra peace of mind.

This breakthrough timing means that getting into the new Chase Sapphire Reserve ecosystem, complete with its enhanced benefits and a massive welcome bonus, might be far quicker than previously thought after a product change. Combine this with the opportunity to immediately double-dip on those new bi-annual credits ($250 The Edit, $150 StubHub, $150 Sapphire Reserve Exclusive Tables) if you apply during the June/July transition period, and you're looking at phenomenal value.

Have you successfully applied for the new Sapphire Reserve? Share your timeline and experience with the Blerd Fam in the comments!

If you're feeling inspired to level up your wallet and apply for a Chase Sapphire card, you can support our work by utilizing my personal referral link here.

Disclaimer: While this reflects a personal successful experience and current understanding based on public information, credit card eligibility rules can change. Always verify the latest terms directly from Chase and check for bonus eligibility messages during your application process. Your mileage may vary.

The Premium Card Wars: Is the Revamped Chase Sapphire Reserve a Platinum Killer? (And Are We, The Consumers, Just collateral Damage?)

Hey Blerd Fam! The credit card world is buzzing, and it's not just about the imminent changes to the Chase Sapphire Reserve. Just as Chase is poised to unleash its revamped premium travel card on June 23rd, whispers (and now, confirmed announcements) from the American Express camp suggest their legendary Platinum Card is getting a major overhaul later this year.

It feels like a scene straight out of a blockbuster movie: two titans, duking it out for supremacy in the premium travel rewards arena. And as Dr. Serizawa famously quipped in Godzilla: "Let them fight." But while watching these financial behemoths clash might seem thrilling, we need to ask: is this ongoing "credit card arms race" truly good for the everyday consumer in the long run?

The New Contender: Chase Sapphire Reserve's Major Power-Up

As we detailed in our previous post, the Chase Sapphire Reserve is stepping into the ring with some serious upgrades. Get ready for:

• Higher Annual Fee: Jumping from $550 to a hefty $795.

• New Bi-Annual Credits: Including a $250 The Edit Credit (for luxury hotels), $150 StubHub Credit, and $150 Sapphire Reserve Exclusive Tables Credit. These alone offer a potential $550 in value twice a year if maximized.

• Enhanced Earning Rates: New categories like 8x on Chase Travel bookings and 4x on direct flight/hotel bookings.

• "Points Boost" Redemption: A new way to redeem points at up to 2 cents per point on select travel through the Chase portal.

• Demise of Restrictive Rules: The end of the 48-month bonus rule and the "one Sapphire" rule opens up new application strategies.

This is a bold move by Chase, clearly aiming to reassert the Sapphire Reserve's dominance and justify its new price tag with a heavy focus on high-value, bi-annual credits that can genuinely offset the fee.

The Reigning Champ Prepares: Amex Platinum's Imminent Revamp

Not to be outdone, American Express has just confirmed that the Platinum Card will also undergo its "largest investment ever in a Card refresh" later in Fall 2025. While exact details are still under wraps, based on Amex's statements and industry speculation, here's what we can expect:

• Potential Annual Fee Increase: The current Platinum Card already carries a $695 annual fee. With Chase raising their bar, it's highly likely Amex will follow suit, possibly pushing the annual fee even closer to (or past!) the $800-$1000 mark.

• Expanded Credits, More "Coupon Book" Vibes? Amex has emphasized increased focus on dining, enhanced lounge access (more Centurion Lounges are opening), and new partnerships. This suggests more statement credits similar to their current model (think Uber, Saks, streaming, airline incidental, etc.), which often require careful tracking to maximize.

• Targeting Gen Z & Millennials: Amex explicitly stated the refresh aims to appeal to younger cardholders, hinting at lifestyle benefits that resonate with these demographics.

• Physical Card Redesign: Expect a fresh look and feel for the iconic metal card.

Amex is a master of the "coupon book" strategy, providing a plethora of credits that, on paper, far exceed the annual fee. The challenge, as many Platinum cardholders know, is actually using all of them without changing your spending habits.

The Consumer Conundrum: Are Higher Fees & Complex Credits Sustainable?

This back-and-forth between Chase and Amex raises a critical question for us, the consumers: at what point do these premium cards price out the "normal" person?

• Escalating Annual Fees: When the Chase Sapphire Reserve debuted at $450 (with an easy $300 travel credit effectively making it $150), it felt revolutionary. Now, with both cards potentially hovering around the $800 mark, these are serious financial commitments. While the "value" might be there if every single credit is maximized, the increasing initial outlay is a barrier.

• The "Coupon Book" Burden: Both cards are relying heavily on statement credits to justify their fees. While these can offer substantial value, they often require active management, remembering specific merchants, and sometimes even altering spending patterns. For someone who doesn't consistently use all the niche benefits, the card quickly becomes less valuable than its high annual fee suggests. This trend, where issuers "invest" in more credits rather than just pure points, might make it harder for the average cardholder to truly come out ahead.

• Exclusion for Many: As annual fees continue to climb, these cards become increasingly exclusive. While they offer incredible perks for frequent travelers and high spenders, the barrier to entry (both financial and credit-wise) continues to rise, potentially leaving a large segment of consumers without access to premium travel rewards.

It's a delicate balance. Credit card companies argue that higher fees fund richer benefits, improved services, and luxurious experiences. And for a subset of the population, this holds true. But for many, the complexity and sheer cost of managing these ultra-premium cards might become more hassle than they're worth.

So, while we watch Chase and Amex "fight" for market share with their revamped offerings, it's crucial for us, the consumers, to critically evaluate if the benefits truly align with our individual lifestyles and if we can genuinely extract enough value to make the ever-increasing annual fees worthwhile.

What's your take on the premium card wars? Are you excited for the new changes, or do you think the fees are getting out of hand? Let us know in our social media comments!

Level Up Your Wallet: A Deep Dive into the NEW Chase Sapphire Reserve Changes

Hey Blerd Fam! If you're anything like us, you've probably been buzzing about the monumental shifts coming to the Chase Sapphire Reserve. This isn't just a minor tweak; it's a full-blown evolution of one of the most coveted travel rewards cards on the market. From a steeper annual fee to a whole new suite of credits and a shake-up of long-standing rules, there's a lot to unpack.

Consider this your comprehensive guide to the new Chase Sapphire Reserve, designed to help you navigate the changes and decide if this card is still your ultimate loyalty companion.

The Big Picture: Annual Fee Hike & Key Dates

Let's get the main event out of the way first. The annual fee for the Chase Sapphire Reserve is going up.

* New Annual Fee: The annual fee is increasing from $550 to $795. Oof. Authorized user fees are also going up, from $75 to $195.

* Effective Dates:

* June 23, 2025: These new benefits and the higher annual fee apply to new applicants for the Chase Sapphire Reserve.

* October 26, 2025: Existing cardmembers will see these new benefits activate and their annual fee adjusted to $795 on their next renewal date following this date.

Farewell to Old Rules: A Points Game Changer! (With Key Nuances)

Two of Chase's most restrictive rules for Sapphire cards have seen significant changes, opening up new opportunities for some, while maintaining strict bonus eligibility for others.

* The "One Sapphire Rule" is Over (For Holding): For years, you could only hold either the Chase Sapphire Preferred or the Chase Sapphire Reserve, but not both. As of June 23, 2025, this rule has been lifted, meaning it is now possible to hold both a Sapphire Preferred and a Sapphire Reserve simultaneously! This offers new flexibility in managing your Ultimate Rewards ecosystem.

* Goodbye, 48-Month "Family" Rule! Hello, "Once Per Product" Bonus (and Current Holder Restrictions): Previously, you couldn't earn a new cardmember bonus on any Sapphire card if you had received a bonus on any Sapphire card in the last 48 months. This "family rule" has been removed. However, it's been replaced by stricter, product-specific eligibility:

* "Once Per Lifetime" Per Product: You are generally limited to earning a welcome bonus only once per specific Sapphire card product. This means if you've previously received a bonus for the Chase Sapphire Reserve, you are likely ineligible to receive another bonus for the Sapphire Reserve again. The same applies to the Sapphire Preferred.

* Crucial for Current Cardholders: Even more importantly, if you currently hold any personal Chase Sapphire card (e.g., the Chase Sapphire Preferred), you are generally ineligible to receive the sign-up bonus on the other personal Sapphire card (e.g., the Chase Sapphire Reserve) if you apply now. Chase has implemented a helpful pop-up warning during the online application process that will notify you if you are ineligible for the bonus before a hard credit pull.

This means that while you can now hold both cards, a current Sapphire Preferred cardholder looking to earn a bonus on the Sapphire Reserve would typically need to downgrade or close their Preferred card first, then apply for the Reserve, to be eligible for its sign-up bonus. Always check the specific terms and look for that pop-up during your application process.

New Perks & Enhanced Benefits: Is the Higher Fee Worth It?

To justify that $795 annual fee, Chase is rolling out a collection of new and revamped benefits. Here's what's coming:

Brand New Bi-Annual Credits (Resetting July 1st and January 1st)

These are the real stars of the show for maximizing immediate value. Each of these credits resets twice a year, offering significant potential value if utilized strategically.

* $250 The Edit Credit: This exclusive credit is designed for use towards stays and experiences within The Edit by Chase Travel, a curated collection of luxury hotels and resorts. You'll receive two $250 statement credits annually (one for January-June, one for July-December). It typically requires a minimum two-night prepaid booking.

* $150 StubHub Credit: Get rewarded for your love of live events! This credit offers up to $150 in statement credits twice a year (January-June and July-December) for purchases made on StubHub.

* $150 Sapphire Reserve Exclusive Tables Credit: Unlock access to unique dining experiences. This credit provides up to $150 in statement credits twice a year (January-June and July-December) for dining purchases at select, high-end restaurants within the Sapphire Reserve Exclusive Tables program. You simply use your card at a qualifying restaurant from their curated list, no special booking required.

Other Key Changes & Continuing Benefits:

* $300 Annual Travel Credit (Unchanged): This highly popular and easy-to-use credit remains the same, automatically applying to a wide range of travel purchases made on your card each year.

* New Points Earning Structure: The earning rates are getting an overhaul:

* 8x points on travel (flights, hotels, rental cars) booked through Chase Travel.

* 4x points on flights and hotels booked directly.

* 3x points on dining worldwide (unchanged).

* 1x points on all other purchases.

* Points Boost Redemptions: The old 1.5x redemption rate for travel through the Chase Travel portal for new points earned after October 26, 2025, is being replaced by "Points Boost." This new feature will allow you to redeem points at up to 2 cents per point (2x the typical value) on select hotel and airfare redemptions through Chase Travel. For points earned prior to October 26, 2025, you can still redeem them at 1.5x through October 26, 2027.

* DoorDash & Lyft Benefits: Expect new structures for these existing partnerships, likely involving more granular monthly credits and promos rather than lump sums.

* Peloton Credit: A new credit for Peloton memberships is also being introduced.

* Apple TV+ & Apple Music: Complimentary subscriptions (valued at $250 annually) for these services through June 22, 2027.

* Global Entry/TSA PreCheck/NEXUS Credit: This valuable credit (up to $120 every four years) for application fees remains intact.

* Lounge Access: Your Priority Pass Select membership and access to Chase Sapphire Lounges and select Air Canada Maple Leaf Lounges remain.

* High Spend Tiers: For those who spend significantly, new bonus tiers are being introduced at $75,000 and $120,000 in annual spending, unlocking perks like elite status with various loyalty programs and additional credits.

The Bottom Line: Worth the Upgrade or New Application?

The changes to the Chase Sapphire Reserve are undeniably significant. The higher annual fee is a hurdle, but the expanded credit offerings, especially the bi-annual ones, present a powerful opportunity for savvy cardholders to offset a large portion of that cost – or even come out ahead, particularly by strategically applying right when the changes go live (for those eligible for a bonus).

For new applicants who do not currently hold a personal Sapphire card, jumping in now means immediate access to all the new perks and a potentially lucrative sign-up bonus. For existing cardholders, you have until October 26, 2025, to prepare for the fee adjustment and benefit activation.

As always, the "worth it" factor depends on your lifestyle and spending habits. But for those who can leverage these new credits and travel benefits, the new Chase Sapphire Reserve could be an incredibly rewarding card.

What are your thoughts on these new changes? Share your strategies in our social media comments!

Sources:

* Frequent Miler: https://frequentmiler.com/new-chase-sapphire-reserve/

* The Points Guy: https://thepointsguy.com/credit-cards/chase-sapphire-reserve/

* Upgraded Points: https://upgradedpoints.com/news/chase-overhauls-sapphire-reserve-card/

Why I'm Waiting Until June 23rd to Apply for the Chase Sapphire Reserve (and You Should Too!)

Hey Blerd Fam! Your boy is about to put y'all on to some knowledge, and if you've been eyeing that Chase Sapphire Reserve like I have, you're gonna want to lean in. We're on the cusp of some major changes to Chase's premium travel card, and while the siren song of an upgrade might be tempting, I'm personally holding off until Monday, June 23rd. And trust me, it's not just about patience; it's about playing the game smart to maximize those sweet, sweet rewards.

IMPORTANT UPDATE: Clarifying Sapphire Bonus Eligibility (As of June 25, 2025)

Hey Blerd Fam, quick but crucial intel regarding my previous Sapphire Reserve strategy! Since the June 23rd launch, we've learned that while it's now possible to hold both a Chase Sapphire Preferred and a Reserve, the rumors of being eligible for a bonus on the Reserve if you currently hold any personal Sapphire card were only partially true: if you presently have a Sapphire Preferred, you will likely be ineligible for the Reserve's sign-up bonus. This means current Preferred holders aiming for the Reserve bonus would typically need to downgrade or close their existing Sapphire card first, then apply, so always check Chase's specific application terms.

The Rumors Are True: A Sapphire Revolution is Upon Us!

For what feels like eons, Chase has had some pretty strict rules when it comes to their Sapphire card lineup. The infamous 48-month rule has been a major sticking point, preventing cardholders from earning a sign-up bonus on a new Sapphire card if they'd received one on any Sapphire card within the last four years. And then there's the equally frustrating "one Sapphire rule," which essentially meant you could only hold either the Sapphire Preferred or the Sapphire Reserve, but not both.

Well, buckle up, buttercups, because reliable whispers (and increasingly, confirmed reports) suggest that Chase is doing away with both of these restrictions! This is monumental news for points enthusiasts like myself.

Let's break down why this is a game-changer for my strategy:

• Goodbye, 48-Month Rule! Hello, New Bonus Potential! I snagged my Chase Sapphire Preferred in July of 2022. Under the old rules, I'd be waiting until July 2026 to even think about getting a new Sapphire bonus. But with the 48-month rule reportedly being scrapped, applying for the Sapphire Reserve on June 23rd could make me eligible for a brand-new sign-up bonus, even though I'm still relatively new to the Sapphire ecosystem! That's a massive win.

• The End of the "One Sapphire Rule" is Here! Currently, you're only allowed to hold one Chase Sapphire card at a time – either the Sapphire Preferred or the Sapphire Reserve. But with this restriction reportedly being lifted, the door opens for applying for a new Sapphire Reserve even if you already hold a Sapphire Preferred. While I won't be keeping both in the long run, this change is critical for my immediate strategy.

Why Not Just Upgrade My Preferred Now? The Timing Is Everything.

You might be thinking, "Why not just upgrade my current card to the Reserve and lock in that lower annual fee if you're so keen?" Great question, and here's why that's a no-go for me:

First, let's talk about the annual fees. The Chase Sapphire Reserve's annual fee is increasing from $550 to a new, higher $795. On the surface, sticking with the old fee by upgrading might seem like the smarter play.

You can typically upgrade a Chase Freedom Unlimited or your existing Chase Sapphire Preferred to a Reserve, provided your current card has a credit limit of at least $10,000. However, even with that option, I'm still choosing to apply fresh on June 23rd for these crucial reasons:

• New Benefits Activation: If I were to upgrade now, the new, enhanced benefits of the Sapphire Reserve wouldn't actually kick in until later this year (October 26, 2025, for existing cardholders). What's the point of paying a premium annual fee if you can't immediately enjoy all the perks? By applying for a brand-new Sapphire Reserve on June 23rd, I'll have immediate access to those shiny new benefits from day one.

• The Bi-Annual Credit Bonanza: A Week of Double Dipping! This is the real secret sauce, and why Monday, June 23rd is the magical date. The Chase Sapphire Reserve offers several fantastic bi-annual credits that reset on July 1st. These include:

  • $250 The Edit Credit: This exclusive credit can be used towards stays and experiences within a curated collection of luxury hotels.

  • $150 StubHub Credit: Catching that concert or game just got easier on the wallet.

  • $150 Sapphire Reserve Exclusive Tables Credit: Unlock access to unique dining experiences.

Here's the genius move: by applying and getting approved for the Sapphire Reserve right when these changes hit on June 23rd, I'll have access to these credits for about a week before they reset on July 1st. This means I can potentially utilize each of these credits twice within a super short timeframe – once before July 1st, and then again after July 1st!

Think about it: even with the new, $795 annual fee for the Sapphire Reserve, I could potentially unlock $550 in value ($250 The Edit + $150 StubHub + $150 Exclusive Tables) from these credits alone, essentially doubling their benefit in a single week. So, while the annual fee is going up, the immediate and double-dipping potential of these credits means I'm getting back $1,100 in value ($550 from each "cycle" of credits) within just a week of paying that $795 fee. That's a massive offset and a fantastic way to kickstart my Sapphire Reserve journey, making the higher fee easily justifiable for me.

What Does This Mean for You, Blerd Fam?

If you've been eyeing the Chase Sapphire Reserve, or even if you're currently a Sapphire Preferred or Freedom Unlimited holder considering an upgrade (and have that $10k+ credit limit), I urge you to wait until June 23rd. The potential to:

• Earn a new sign-up bonus (even if you've had a Sapphire card recently).

• Gain immediate access to all new Sapphire Reserve benefits.

• Double-dip on those valuable bi-annual credits ($550 in potential value that can be accessed twice!).

These are opportunities too good to pass up. Do your own research, consider your spending habits, and make sure the Sapphire Reserve aligns with your financial goals. But for me, the strategy is clear: I'm setting my alarm for Monday, June 23rd, ready to jump on this incredible opportunity to maximize my points and perks.

Are you planning to apply for the new Chase Sapphire Reserve? Let me know your thoughts and strategies in our social media comments! And stay tuned for my follow-up post once I've got that shiny new card in hand.

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Nigel's Take

For those of you already holding the Sapphire Reserve, you might be wondering what these changes mean for you. Our very own Nigel, a current Reserve cardholder, has been strategizing for the October 26, 2025 transition. Here's a quick look at his game plan before he drops a full, detailed post:

• Maximize the $300 Universal Travel Credit: Nigel plans to use his existing $300 universal travel credit, hoping for a double-dip opportunity when the new benefits officially roll out for existing cardholders in October.

• Utilize DoorDash Credits: He'll keep using the current DoorDash credits, which offer $125 in value between June and October.

• Renew DashPass: To keep the delivery perks flowing, renewing DashPass for $120 is on his list.

• One Last 1.5x Chase Travel Portal Redemption: Nigel aims to make one final redemption through the Chase Travel portal at the 1.5x valuation. While higher valuations are possible in other scenarios, this has always been a solid and reliable option for many bookings.

• Target New Bi-Annual Credits: Once the new benefits activate in October, he'll be ready to utilize all the new bi-annual credits ($250 The Edit, $150 StubHub, $150 Sapphire Reserve Exclusive Tables) between October and December.

Stay tuned for Nigel's full breakdown on how current Sapphire Reserve holders can best navigate these exciting (and sometimes complex!) changes!

The Basics of Credit Cards

“Ight so boom,” if you're new to the world of credit cards, it can be overwhelming to navigate all the different options and terms. But don't worry, it's not as complicated as it seems. In this article, we'll go over the basics of credit cards, so you can make informed decisions about which card is right for you.

First, let's talk about credit scores. Your credit score is a three-digit number that represents your creditworthiness. It's based on your credit history and is used by lenders to determine your interest rate and credit limit. A higher credit score means you're more likely to be approved for a credit card and get a better interest rate.

Next, let's talk about credit limits. This is the maximum amount of money you can borrow on a credit card. Your credit limit is determined by your credit score and income. It's important to not to spend more than 30% of your credit limit, as this can negatively impact your credit score.

Now, let's talk about interest rates. This is the percentage of the amount borrowed that you'll have to pay back in addition to the principal. The interest rate on a credit card can vary depending on the type of card and your credit score. It's important to pay off your balance in full every month to avoid paying interest.

Another important aspect of credit cards is the rewards program. Many credit cards offer rewards such as cash back, points or miles for making purchases. These rewards can be redeemed for merchandise, travel or statement credit. It's important to choose a card with a rewards program that aligns with your spending habits, in order to maximize your rewards.

Another thing to consider is the fees associated with credit cards. Some cards have annual fees, balance transfer fees, and foreign transaction fees. It's important to read the fine print and understand the fees associated with a card before you apply.

Finally, it's important to use credit cards responsibly. Always make payments on time, don't spend more than you can afford to pay back, and be sure to fully understand the terms and conditions of any card you apply for. By following these basic guidelines, you'll be on your way to building a positive credit history and achieving your financial goals.

In conclusion, credit cards can be a powerful tool for achieving your financial goals, but it's important to fully understand the basics before you apply for one. By following the guidelines mentioned in this article, you'll be well on your way to making informed decisions about which card is right for you.

Bilt Rewards Mastercard Review: How to Get Free Trips From Paying Rent

Renting is the largest bill for many of us, but what if you could turn that monthly expense into a tool to help you travel and improve your credit score? That's exactly what the Bilt World Elite Mastercard offers. 

Here are six reasons why getting the Bilt card should be your top priority as a renter:

Earning Points on Rent Payments

Normally, paying rent doesn't earn you any rewards, but with the Bilt card, you'll earn 1x Bilt points on your rent payments. This is especially valuable since rent is likely one of your largest expenses.

Impressive Reward Earnings

In addition to earning points on rent, the Bilt card also offers 3x points on dining purchases, 2x points on travel expenses, and 1x on all other purchases. These rewards are comparable to what you would earn with the popular Chase Sapphire Preferred card.

Building Credit History

Bilt is partnered with over 2 million apartment communities known as the Bilt Rewards Alliance. When you rent at a Bilt Alliance property, Bilt will automatically report your rent payments to the three major credit bureaus each month. This can help build a credit history, increase the types of credit on your report, and boost your credit score.

Referral Program

You can earn even more points with Bilt's generous referral program. For every person you refer who successfully signs up using your unique link, you'll earn 2,500 points. And every fifth successful referral earns you an additional 10,000 points, up to a maximum of 2 million bonus points.

Transferring Points 

One of the best ways to maximize the points that you’ll earn is to transfer them. Bilt is partnered with 14 hotel and airline award programs that allow you to transfer your points at a 1:1 ratio. These include World of Hyatt, Air Canada Aeroplan, and American Airlines Aadvantage (which has no other credit card transfer partners). 

You can then redeem these points for FREE hotel rooms and plane tickets!

No Fees

No other credit card on the market allows you to pay rent without fees. While the Bilt card doesn't offer a sign-up bonus like many other credit cards, that's more than offset by the impressive benefits it offers.

Our Take

Basically, if you're a renter, you can't afford to miss out on the Bilt card. With its $0 annual fee, ability to earn points on rent payments, and impressive reward earnings, it's a must-have for anyone who wants to turn their monthly rent payments into a tool for travel and improved credit. And with the Bilt card's referral program, you can easily accumulate thousands of points and start experiencing all the benefits the card has to offer. 

Are you still here? Go apply right now and start earning something back for these WILD rent prices!

5 Reasons You Should Prioritize Chase Travel Rewards Credit Cards

When starting your rewards credit card journey, you should always start by getting into the Chase travel rewards system.

I don’t say this out of any particular loyalty to the bank. You should do this for five very specific reasons.

1. Chase travel rewards are locked behind 5/24

This is the most important reason why you want to go after Chase cards first. When you first delve into the world of travel credit cards, you’ll inevitably hear whispers about the dreaded Chase 5/24 softban.

What is the Chase 5/24 rule?

In most cases, if you’ve signed up for five or more personal credit cards in the past 24 months, Chase won’t let you sign up for ANY new credit cards. This is regardless of your income, credit score, or relationship with Chase. There are occasional exceptions to this rule, but they change at the whims of Chase’s shadowy cabal of credit card overlords (Illuminati?).

NOTE: 5/24 is not an “official” rule–it’s just something that the credit card community has noticed–so don’t bother calling Chase to ask about your 5/24 status. The person on the other line will likely act as if they have no idea what you’re talking about. 

What counts towards the Chase 5/24 rule?

• New personal credit cards (this includes store credit cards)

• Being added as an authorized user on someone else’s credit card account

• Signing up for business credit cards from Discover or Capital One (there are others, but these are the two biggest ones)

Is there a way around the Chase 5/24 rule?

There are two reliable ways to duck 5/24 status:

1. Get business credit cards

Most business credit cards (including, strangely enough, business credit cards from Chase) don’t count towards your 5/24 status.

If the word “business” terrifies you, never fear. You don’t need an established, or even traditional business to open a business credit card. You can open a business card for any practical reason, whether you’re trying to launch a startup, plan on doing some consulting on the side, or even if you do ridesharing or delivery service.

Outside of stating what your business is and your annual revenue (don’t lie or guess what you think it will be–$0 is fine), the sign up process is the same as a personal one.

NOTE: Double check with the issuer whether or not they report business credit cards on your personal credit report. Most don’t, but there are exceptions, such as Capital One and Discover.

2. Request that an authorized user account be removed from your credit report

You can request that a credit reporting bureau remove an authorized user account from your credit report. This usually isn’t the best tactic if you’re well under 5/24 and have a thin credit file, since the account will contribute to your overall credit health. If you are close to or at 5/24, though, getting them removed can help you get the card you want. I’ve also heard rumors of people convincing Chase to ignore authorized user accounts, but I’ve never seen this done myself, so I can’t say how effective it is.

A few other (usually temporary) exceptions to the 5/24 rule occasionally pop up, but the only guaranteed way to ensure you’re eligible for a new Chase credit card is to stay under the limit.

2. Chase travel rewards connect you to Hyatt

Chase is the only major credit card issuer with a relationship with Hyatt. This is huge.

Why is Chase’s relationship with Hyatt so important?

If you’re all about value, no other hotel chain comes close when it comes to the worth of their rewards points. In most cases, you can book a Hyatt hotel for at least 1.5 cents per point. The points of other chains like Hilton, whose points can dip below 0.4 cents in value. Marriott isn’t much better in this regard. This isn’t commentary on the quality of other hotel chains in any other regard. It’s just that Hyatt can’t be matched in rewards points value.

The value becomes especially notable when you factor in Chase Ultimate Rewards points (Chase’s cashback/travel rewards currency), which can be transferred at a 1:1 value to any hotel chain. This means that your Chase Ultimate Rewards points transferred to Hyatt are worth more than triple what they would have been if you transferred them to another hotel chain.

Are there any other credit card companies that transfer points to Hyatt?

Although no major issuers transfer to Hyatt, there is one other notable transfer partner: Bilt. They have some unique, interesting offerings that are especially great for anyone renting an apartment.

3. Flexible rewards points (for non-cobranded Chase travel rewards credit cards)

Chase Ultimate Rewards is the most flexible major rewards points system. Here’s why:

Chase transfer partners

Chase has a lot of Transfer Partners, including 11 airlines and three hotel chains.

Chase Airline Partners

• Air Canada

• Air France

• British Airways

• Emirates

• Aer Lingus

• Iberia

• Jetblue

• Singapore Airlines

• Southwest Airlines

• United Airlines

• Virgin Atlantic

Chase Hotel Partners

• Hyatt

• IHG

• Mariott

Chase travel rewards cards offer points and cashback flexibility

TLDR: Chase travel rewards points can be converted to cashback, and vise versa.

If, for example, you have been stacking rewards with a cashback card like the Chase Freedom Unlimited, but want to use your shiny new Chase Sapphire Preferred powers to convert your cashback into Hyatt, Southwest Airlines, ect. Points, you can do that.

If, on the other hand, you just got a huge 60,000 point sign up bonus from a Chase Sapphire Reserve card, but you just want that as $600 cash, Chase lets you do that too. Most credit card issuers force you to choose one or the other with each card, and their cashback and rewards points systems aren’t interchangeable.

Chase’s premium credit cards unlock extra value

If you don’t feel like poking around hotel and airline sites to find the best points valuation, you don’t have to. You can book with Chase via their travel portal.

In addition, certain cards offer a boosted value for your points when booking via the travel portal. These cards are the Chase Sapphire Reserve (1.5 cents per point), Chase Sapphire Preferred (1.25 cents per point) and Chase Ink Business Preferred (1.5 cents per point). If you had 60,000 points with the Chase Sapphire Reserve, for example, those points would be worth exactly $1,200 via the Chase travel portal, as opposed to $800 cash back.

4. Lots of travel rewards card options

The Chase travel reward card offerings go well beyond their solo Sapphire, Freedom, and Ink brands. They also offer a wealth of cobranded credit cards with a multitude of hotel and airline brands. 

Why would I want a cobranded credit card?

More sign up bonuses

One of the most powerful tools you should learn to unlock is the all-mighty sign up bonus. With these, you can instantaneously gain a wealth of points that would normally require tens of thousands of dollars worth of spend to acquire. As a part of their partnership with many of their transfer partners, they also offer credit cards that include huge sign up bonuses for a given airline or hotel chain. So once you’ve completed your standard Chase card setup, you can pursue additional massive bonuses with your favorite places to stay or fly.

Unique benefits

Cobranded credit cards always offer unique benefits that can make them worth keeping. The Hyatt and Mariott Bonvoy Boundless credit cards, for example, include elevated status and a free night every year; this more than offsets their $95 annual fees. Airline credit cards often provide perks such as free checked bags. Some cards like their Southwest Credit cards even offer annual points bonuses that offset the annual fee, if there is one.

5. Chase has the best starter credit card

If you’re building your credit, it can be tough to get the hottest Chase travel rewards credit cards. In many cases, you end up stuck with a starter card that offers little to nothing in the way of benefits. 

Enter the Chase Freedom Rise.

What is the Chase Freedom Rise?

This is a new (as of June 2023) credit card that works very much like the Chase Freedom Unlimited, my personal favorite general-use card. 

Chase Freedom Rise sign up bonus

The Chase Freedom Rise offers $25 for enrolling in automatic payments. This may not seem like much, but remember that most credit builder credit cards offer you nothing at all.