Q: Can I re-open an account that I closed with Chase?
Noob reader, Deborah, emailed me with this one.
A: Yes, you can.
I’ve re-opened a Chase credit card account after closing it. I was told that you have 30 days to re-open a closed account. Plus, there wouldn’t be an additional hard pull on your credit. I like that. I confirmed with the rep probably 5 times that there wouldn’t be an inquiry. She definitely thought I was a little loco.
The account that I re-opened was an account I didn’t want to close.
I kept the same card number and credit limit. Having a high credit limit will lower credit utilization (debt to credit), and will allow you more opportunities to move around pre-existing credit so you can open up new cards.
Note: This was a few months ago, so I can’t guarantee that your experience will be the same. But Deborah was able to re-open her same Marriott credit card that she had closed.
Here’s my full post on when and how to cancel rewards credit cards.
Have questions you would like answered by email? Email me at firstname.lastname@example.org. I don’t bite.
Q: What are the 2x travel categories with the Sapphire Preferred?
I was recently tweeted with this question.
Oh, the ambiguous 2x travel earning potential with the Chase Sapphire Preferred® Card. I actually get this question often, so I thought I would just tackle it here.
A: You will receive 2x Ultimate Rewards points per $1 on airfare, hotels, cruises, auto rental (trucks, rv, cars), train tickets, taxis, limos, travel agencies, parking bus fare, time shares, and tolls. That’s a lot of options!
The Sapphire Preferred also offers 2x points per $1 on meals (not groceries), and a 7% annual dividend on all miles earned (excluding sign-up bonus). It’s still one of the best rewards card out there. I think I have to put the Ink business cards above the Sapphire Preferred now, because of all the 5x earning potential.
Anyway, I hope this helps as you swipe your Sapphire Preferred for 2x travel expenses.
Want to tweet at the Noob Master? Do it @noobtraveler.
— Geoff Whitmore