Chase Sapphire Reserve & Ink Business Preferred

ridgebackpilot · ‎08-15-2017

Friends: Today my Chase private banker invited me in to the branch to apply for the Chase Sapphire Reserve and the Chase Ink Business Preferred cards.

I warned her that I'm way over 5/24. But I'd also heard that applying in a branch and my status as a Chase Private Client might obviate the 5/24 rule. Turns out I was wrong!

First we applied online for the Sapphire Reserve card. My income is high and I travel a lot on business, so UR cards are a priority for me. The banker input all my data and the application went pending. She immediately called an internal Chase number and spoke with an analyst. I was rather surprised to receive a flat denial due to the 5/24 rule. The analyst said there are "no exceptions", not even for Chase Private Clients.

I asked whether I could get around the rule by closing my Chase Sapphire Preferred card and moving that credit line over to the Sapphire Reserve. She said that would make no difference and she saw no way to violate the 5/24 rule. Apparently that rule has become ironclad; no more exceptions even for CPC or applications in a branch...!

Since I've recently opened an active consulting business, my banker encouraged me to apply for the Chase Ink Business Preferred card. While the advertised bonus is 80,000 UR points, she said her colleague on Chase's business affairs team could get me 100,000 point bonus. I went ahead and filled out the paperwork; unlike the personal cards, this application apparently can't be done online.

Apparently Chase business cards aren't subject to the 5/24 rule (?) I'll find out within two weeks whether my application for the Chase Ink card is accepted. Fingers crossed!

Anonymous · ‎08-15-2017

There are hundreds of recent data points online that show people getting approved for CSR if they have an in-branch preapproval offer on the banker's screen. In fact, I was with a buddy at Chase just a month ago and he is WAY over 5/24 (probably close to 12/24, haha) and he asked the banker if there were any preapprovals and the banker said yes. Click, click, click, approved.

I'm at 4/24 but already used an online preapproval on my account so I won't see any more for 6 months total. But it doesn't hurt to ask.

ridgebackpilot · ‎08-15-2017

ABCD2199 wrote:

There are hundreds of recent data points online that show people getting approved for CSR if they have an in-branch preapproval offer on the banker's screen.

My experience today did not involve a preapproval...

Anonymous · ‎08-15-2017

Make it a habit to ask your banker once a month if there are any preapprovals showing!

Also note that calling your banker and asking may not show you any preapprovals since the banker screen asks them if you're there in person or not. You have to be there in person to get any preapproval offers.

I've also heard that preapprovals disappear for 6 months after accepting one (my preapprovals disappeared after accepting my Freedom Unlimited card).

ridgebackpilot · ‎08-15-2017

@Anonymous wrote:
Make it a habit to ask your banker once a month if there are any preapprovals showing!

Also note that calling your banker and asking may not show you any preapprovals since the banker screen asks them if you're there in person or not. You have to be there in person to get any preapproval offers.

I've also heard that preapprovals disappear for 6 months after accepting one (my preapprovals disappeared after accepting my Freedom Unlimited card).

Thanks! Do you think my banker would have access to preapprovals that don't show up on my online account pages or on the Chase prequalification site?

I'm not even sure my CPC banker knows to check for preapprovals. She's never mentioned it to me!

Anonymous · ‎08-15-2017

I think they're all different. The preapprovals (green checkmark) on the website don't always correlate to the in-branch ones. I know my friend who got his preapproval in-branch did NOT have any on his Chase login (he told me this and showed me as well before asking in branch when we were there).

DeeBee78 · ‎08-15-2017

@ridgebackpilot wrote:
Friends: Today my Chase private banker invited me in to the branch to apply for the Chase Sapphire Reserve and the Chase Ink Business Preferred cards.

I warned her that I'm way over 5/24. But I'd also heard that applying in a branch and my status as a Chase Private Client might obviate the 5/24 rule. Turns out I was wrong!

First we applied online for the Sapphire Reserve card. My income is high and I travel a lot on business, so UR cards are a priority for me. The banker input all my data and the application went pending. She immediately called an internal Chase number and spoke with an analyst. I was rather surprised to receive a flat denial due to the 5/24 rule. The analyst said there are "no exceptions", not even for Chase Private Clients.

I asked whether I could get around the rule by closing my Chase Sapphire Preferred card and moving that credit line over to the Sapphire Reserve. She said that would make no difference and she saw no way to violate the 5/24 rule. Apparently that rule has become ironclad; no more exceptions even for CPC or applications in a branch...!

Since I've recently opened an active consulting business, my banker encouraged me to apply for the Chase Ink Business Preferred card. While the advertised bonus is 80,000 UR points, she said her colleague on Chase's business affairs team could get me 100,000 point bonus. I went ahead and filled out the paperwork; unlike the personal cards, this application apparently can't be done online.

Apparently Chase business cards aren't subject to the 5/24 rule (?) I'll find out within two weeks whether my application for the Chase Ink card is accepted. Fingers crossed!

One thing I see missing from your post is whether you had an actual preapproval, or just a private banker trying to make a credit card signup quota? The way your post is written makes it seem like there wasn't an actual preapproval for the cards.

Anonymous · ‎08-15-2017

I am surprised. As a former PB of two major banks but not Chase I got by with murder on deposits and loans both. After I sold the cash burning business many moons ago DW and I become just retail clients. I like where we bank now (for the past 10 years) because it has real US based people from 7AM to 7 PM onthe telephone and on line chat.

Anonymous · ‎08-16-2017

Just a note. Chase business cards, other than the Marriott business card, are subject to 5/24 just like personal cards.