You could wait for Chase to make a decision, but you might be better off calling the reconsideration line. You could proactively offer to move credit lines from an existing card to the Sapphire Preferred, which can help the agent push your application through.
Bottom line
The current Chase Sapphire Preferred limited-time welcome bonus of 100,000 Chase Ultimate Rewards is very valuable, so those who are eligible should consider applying, especially since this is your last chance to earn it. This offer ends on May 15.
If you’ve had your eye on the Sapphire Reserve, you could apply for the Sapphire Preferred now to earn the higher welcome bonus. Then you could request to upgrade to the Sapphire Reserve after a year to access elevated travel perks.
To learn more, read our full review of the Chase Sapphire Preferred.
Apply here: Chase Sapphire Preferred Card – 100,000 Ultimate Rewards points after spending $5,000 on purchases in the first three months of account opening