New Chase 9 YEAR Bonus Rule? + EASY Marriott Points

In this video, I want to look at Chase's new supposed nine year rule around welcome bonuses on Sapphire cards. We have a cheeky little Marriott promo, basically an easy way to get 2,500 Marriott points and build elite status faster. And then Robinhood have started pushing hard on their Robinhood banking product that launched late last year and seem to be opening it up for more customers. We'll tell you all about it. Hey, credit warriors, welcome to the show. My name is Ben Hedges, a.k.a. The Credit Shofu. And on this channel, I cover U.S. credit cards, personal finance and luxury travel. If you like the sound of that, please subscribe. But let's get into it. All right. So let's talk about this suspected new Chase nine year rule. So a while back, Chase brought in Amex style lifetime language on their Sapphire cards. OK, lifetime language means basically you can get a bonus once in your lifetime on any particular card and then you wouldn't be able to get it again while you're alive. Here's what it says on the Sapphire Reserve. The new card member bonus may not be available to you if you currently have any other personal Sapphire cards open, previously held this card or received a new card member bonus for this card. And then we have the exact same language on the Sapphire Preferred. But notice how it says the bonus may not be available, not will not. So it seems there is some wiggle room here. And there is a post on Reddit that has attracted some attention. And because of it, people are now suspecting that if you wait nine years since you got the bonus before, that counts as a lifetime. What is this, a cat? No, that's nine lives, not lives that are nine years long. Well, anyway, whatever. Let's read through it. And this is from rslashchurning on Reddit. CSRSUBDP. That means Chase Sapphire Reserve sign up bonus data point. I received the 50000 sign up bonus for the CSR in 2017. I downgraded to the CSP Chase Sapphire Preferred in 2022 and eventually canceled in 2023. Few months later, I signed up and received a new CSP bonus in 2023. Today, I applied for a CSR while holding the CSP, did not receive any pop up and went straight to approval. Edit sign up bonus tracker is visible in mobile app. So Chase used to have a 48 month rule on their Sapphire cards. You could get a bonus every 48 months, which is four years if you canceled and then signed up again. So that is what this guy did 2017 to 2023. That's like six years. So that's way over the 48 month slash four year period. But then he goes on to say that he tested the limits of Chase's new rules because not only did he apply for the reserve while holding the preferred, which actually you can do now, they've got rid of the one Sapphire rule that they used to have. But he also seems to have got the bonus on the reserve because he didn't get the pop up and he got the bonus tracker appearing immediately in the app after he opened the account. So that's an interesting data point, and it shows that Chase's once in a lifetime rule really isn't that strict. If you're a cat, why do I keep thinking of a cat? It's nine lives, not lives that are nine years long. Anyway, the rule isn't that strict. If you wait nine years and maybe as we go along, we'll see more data points of people who applied after eight years or maybe seven years, and then we'll be able to see which are more likely to get approved and start to figure out if there is an unpublished rule here, like kind of like the 524, right? Where Chase says 524 isn't a thing, right? That's right. If you've opened five or more credit cards in the past 24 months, Chase won't approve you for any new cards. It is a rule on many Chase cards, OK? Not some of the co-branded cards, but on all their actual Chase branded cards, it does seem to be a rule, but they say it's not a thing, but we know otherwise. In addition to this, we already had a data point a while back when someone was able to get two Sapphire bonuses within two years, one on the CSP and one on the CSR. We kind of know that from the terms and conditions anyway, but this data point proves that you can now do it. So we know bonuses on one Sapphire card, for example CSP, do not affect eligibility anymore for bonuses on the other one, the CSR. All right, let's move on to this Marriott promo that you can sign up for. So if you're a Marriott Bonvoy member, which I'm guessing that most of you are since it's one of the most well-known hotel chains, there is a cheeky little promo that you can sign up for to get some extra points and upgrade your status. So they're offering an extra 2,500 points per night that you stay and one elite night per brand. So if you stay a night at the Marriott and a night at the Ritz-Carlton, you would get 5,000 points and two elite nights. But if you stay one night at a Marriott and then another night at a Marriott a week later or a few weeks later, it would be 5,000 points but just one elite night since that's the same brand. And the 2,500 points are per stay, not per night. So if you stay two nights on the same booking at the same hotel, that's just going to be 2,500 points and one elite night since it's one stay and one brand. But this is a good way to earn some extra elite nights if you do plan to stay at a few different brands in the Marriott portfolio. You do have to register for this, however, so let's now look at the key dates. Register now through April 26th. Earn on stays from February 25th through May 10th. Redeem for free nights and enjoy higher elite status as you explore the hotel brands you love and discover new favorites. So yeah, I'll put this link down below. I'm sure some people in the audience will have Marriott stays coming up, perhaps after February 25th, so falling within the time frame. But even if you don't, it may be worth registering just in case since you're probably going to forget all about this after you finish watching this video. So if you register and then you do go on to, you know, randomly stay at a Marriott, you'll get some extra points and an elite night. Thank me later. All right, now let's talk about Robin Hood's new banking product. But first, if you do like earning a lot of points that you can go on to use for free travel or whatever you like, I encourage you to check out the Built Dining Program. Now you probably know Built because of the launch of their three new credit cards, which kind of had a few hiccups. But you can be a built member without having their credit card. OK, and you can still earn their points, which can be transferred to a load of partners like Hyatt Hotels and a load of airlines as well. And one of the easiest ways to earn built points is through their dining program. It gives you three extra points on top of whatever you earn on your credit card at most restaurants in the program. So if you use the Amex Gold at one of their restaurants, for example, that's three points from Built and four from Amex for a total of seven points per dollar. The link for this is below. There's no cost to sign up. Just be sure to link the card that you use for dining so that you do actually earn points when you use your card at those restaurants. You can also link your Lyft account and earn extra points on Lyft, too. And using our links really does help us out. So we thank you very much if you do. OK, so you may remember a few years ago, Robin Hood tried to come out with Robin Hood Banking and they failed to disclose that your money in your account is not FDIC insured. It was only SIPC insured, which is an insurance for uninvested cash in brokerage accounts, not bank accounts. Robin Hood just kind of forgot to ask the SIPC if it would be OK. And when the news broke and the SIPC got wind of it, it was not OK. And they shut down their original banking product. But that changed last year when they did launch a banking product in However, they have now sent out an email to many more customers inviting them to apply. So it seems that their banking product is no longer reserved just for ultra high net worth customers. In fact, if you go to their banking page on their website, you see this private banking unlocked, not just for the ultra wealthy. I forget whether that was like that before, so I'm not sure if that's something new that has changed with this email or it was always like But anyway, if you scroll down this Egyptian themed page, you get the benefits like 3.5% APY on savings. That's slightly better than gold, which is currently 3.25%, although it would only make a difference that extra 0.25 if you really do have a large amount of money in there. Apparently, though, according to the CEO on their recent earnings call, they want to offer 3.25% APY not just on savings, but on their checking accounts, too. In that earnings call as well, the CEO also said that they had 25,000 banking customers so far and they are looking to expand it more this year. So if you're interested in Robinhood banking, do check it out on their website. It seems that they are still aiming at higher end customers, but maybe not as much as before. They've perhaps opened it up to more customers with those emails going out. And in case you're wondering, they do offer 2.5 million dollars worth of FDIC insurance. All right, guys, that is the video for today. Thank you so much for watching. Please subscribe if you're new. I'll put the links to many of the things that we talked about below. So the Marriott promo, the built dining program, etc. Do click down there if you're interested and we'll see you in the next video. Bye bye.