Chase Hoping to Stop Hemorrhaging Cash with Sapphire Products

According to an internal JP Morgan Chase memo leaked to the good DoC, it will no longer be possible to hold more than one Sapphire product at a time. Other changes outlined in the memo include the introduction of language limiting customers to one sign-up bonus per 24-month period. The 24-month rule is similar to Citi's, however, unlike with Citi, you'll have to close your Sapphire account before you can open a new card to snag a sign-up bonus. If you don't want to close a Chase credit line outright in this process, you can always downgrade your card to one of its Freedom products.

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