I’ve had a chase sapphire preferred for 5 years. How do I upgrade to a Reserve and still get the new card signup bonus? Do I cancel my preferred and reapply for reserve? I don’t want to be dinged for canceling a card

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Get the reserve independently of the CSP and then call Chase and downgrade the CSP to a no-fee card.

likesmart

Yeah. What PWC1 said. Downgrade the CSP to a Freedom Flex, wait a week, then apply for the CSR

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OP, when did you originally get the bonus on the CSP?

Downgrade CSP to one of the freedoms (avoids credit ding). Then you can apply for the CSR. Better though would be to apply again for the CSP (after downgrading) to get the better welcome bonus (80k vs CSR 60k). After a year, you can upgrade to the CSR if desired (I will be doing the same except downgraded from CSR to freedom).

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