BankingPersonal Finance

Should You Downgrade Your Chase Sapphire Reserve to the Preferred?

Upgraded Points
Upgraded Points•May 27, 2026

Why It Matters

Following this sequence preserves Chase Ultimate Rewards points, maximizes the chance to earn a new welcome bonus, and avoids triggering account-age or product-change penalties that could reduce benefits.

Summary

A cardholder asked whether to downgrade a Chase Sapphire Reserve to a Sapphire Preferred or close the Reserve and reapply for the Preferred to capture the welcome bonus. The advisor said you can receive a Sapphire Preferred welcome bonus only if you’ve never had that card’s bonus before and you meet Chase’s 5/24 rule. The recommended approach is to downgrade the Reserve to a no-annual-fee card like Freedom Flex or Freedom Unlimited, keep at least one Chase card open to preserve points, then apply for the Sapphire Preferred rather than canceling the Reserve first.

Original Description

Chase recently changed the rules around Sapphire welcome bonuses, and it affects how you should approach downgrading or switching between the Reserve and the Preferred.
We answer a listener's question, who has the Sapphire Reserve, is unimpressed with the new benefits and higher annual fee, and wants to know whether she should close the card and apply for the Preferred or just downgrade.
The answer depends on a few things...
We walk through the right move step by step.
Stream the full episode of the @upgradedpointspod on YouTube or your favorite podcast app.
Hosts: ‪@chrishassantravels and ‪@katiegoesthere
In a Major Change, Chase Now Allows You To Have Both Sapphire Cards:
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