Chase has not been hesitating to close new accounts and even all of your accounts if you go too quickly. I would space your apps by 6 months with them.
We know that if people apply for two Chase cards on the same day, one of them will likely be closed a couple of days later.
What we don't know is exactly how long Chase wants people to wait before applying for another card. They're not clear like Capital One (six months) or Discover (12 months).
I don't think you need to wait six months if you have no other new card clutter and your only apps are with Chase. I think one month might be cutting it a little close but that three months may be OK.
Alright, this year I decided I could take a hit or two to plow forward. I've been a longtime Chase Freedom cardholder and decided to pull on the Freedom Unlimited last month. Worked out flawlessly.
I've been eyeing the Sapphire Preferred for a while too. I have been building over the past year to recover from some unfortunate setbacks. Chase has been good to me, so I wouldn't mind having a lineup.
What I'm wondering is this; even if I'm willing to take back to back HP's for the good of the future, what is the likelihood of being approved for the Sapphire directly after the CFU? And does it lessen my chances of a higher CL upon approval? I'm under the impression 5K is the minimum approval limit for Sapphire Preferred either way. And finally, does it affect the sign-up bonuses to be in a short time period? I've already met requirement for the CFU bonus and paid down before the first closing date even rolls in. Sapphire would be my final move before gardening for a good while. It especially entices me, since I have a major trip coming up in 2.5 months. Hopefully, I can hear from Sapphire cardholders and if anyone has executed a short time frame stunt like this?
While not a guarantee of success, there have been a number of recent successful data points if a specific procedure is correctly followed. The basics of the technique:
Apply on a weekday for the card for your preferred/better card. If you don't get an instant approval, call for reconsideration/push the application along. The key here is that you have to be approved for the card the same day you applied.
If you aren't approved that same day, don't bother applying for the 2nd card for at least another 4 months.
If approved that day, apply the next day for your 2nd card.
As I mentioned above, some people have reported successful approval of both cards (this includes a CSR and CSP btw) without the 2nd card later being closed, but this is definitely YMMV and Chase could potentially close this loophole and even take AA without notice.
Not the same cards, but I applied for my first Chase card (Marriott) on 10/25/2018 and was instantly approved. Applied for my second Chase card (Southwest Priority) on 1/11/2019 (so about 2.5 months apart) and got the "We'll let you know" message. Waited till I got the letter in the mail, which just told me to call to verify my identity. Once I did that I was approved.
I did get a somewhat lower SL on my second card, but I really have no way of knowing whether that had anything to do with applying relatively shortly after getting the Marriott card since there are so many other factors involved. I suspect it had more to do with the hit my scores took from adding a couple of new accounts and increasing my utilization in the 2.5 months between applications.