Originally Posted by
blueflower22
I am thinking whether I should cancel my Sapphire preferred and reapply to get new bonus ( how long after I cancel can I reapply?) but it is one of my old cards. I only have credit history in this country starting 2007 and Preferred was opened in 2012 so its my 3rd oldest card and the card I use the most. Will closing this card affect my credit adversely?
I would downgrade Sapphire Preferred to another Freedom rather than cancel. I'm not sure how long after that you can reapply, but I would think a month would do it. Read through the last few pages of the following thread as things have changed in the last few months...
http://www.flyertalk.com/forum/chase...5-present.html