Hi all, it is my first time post on this group. I have had banking with Chase and a credit card with them for the last 20 years. It was a Chase signature Visa and then they changed it to Chase Sapphire (no annual fee) which is not listed on Chase website.

I want to get the Chase Sapphire Preferred with $95 annual fee because it has better points earning value, no foreign transaction fee, reimbursed global entry, and the big bonus points. But Chase told me that "I cannot have 2 Chase-Sapphire branded credit cards", and that I need to either 1) cancel my current chase sapphire, wait 30 days then apply for the new Chase Sapphire Preferred or 2) just upgrade my current card to the Preferred but I will not have the bonus points.

My question is considering the long credit history with this credit card (20years +), would it be worth it to cancel it to get the bonus points or just upgrade my current card and miss the bonus points.

I would appreciate any thoughts or advices on this. Thank you in advance.