How long does it take for approval and how long does it take to receive the card when to use the account

Chase Ultimate Rewards is good for frequent travelers. Ultimate Rewards points can be redeemed for cash back, statement credits, Amazon.com purchases, travel, or you can transfer your points to a participating loyalty program. Ultimate Rewards credit cards allow to earn only 1 point per dollar spend on non-travel and dining purchases. If you are not going to spend a lot in these categories, you may choose other travel credit cards.

You are right in your doubts. According to the conditions of bonus offer, you can't qualify for the bonus offer if you already have any Sapphire credit card, and you won't get the bonus offer if you had any Sapphire credit card and received the bonus within the last 24 months. Thus, since you canceled your card a year ago, you won't qualify for the bonus offer. As an alternative you can apply for another credit card with good rewards bonus. If you need credit card for travel, take a look at travel rewards credit card. If you need card to earn maximum rewards on everyday purchases, then look...

If you want to redeem for travel, you must use Chase Ultimate Rewards portal or transfer points to one of the program's travel partner. Be aware there are only 13 airline and hotel partners and if you are not a member of any of them, you won't be able to transfer. In this case, if you are redeeming for travel, your only option is to use Ultimate Rewards portal.