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Should I apply for Chase Sapphire Preferred?

Established Member

Re: Should I apply for Chase Sapphire Preferred?

Any suggestions on what I can do to boost my chances? I was looking at applying in January-February. Should I consider another card and go to 4/24, or should I try to increase limit on my own capital one?
Message 11 of 26
Super Contributor

Re: Should I apply for Chase Sapphire Preferred?

If you are not a member of a CU, I would consider joining one and building credit that way.   Time and payments are the best way to build credit.

01/13/2018: FICO 829 EQ 823 TU 831 EX
Message 12 of 26
Valued Contributor

Re: Should I apply for Chase Sapphire Preferred?

Message 13 of 26
Established Member

Re: Should I apply for Chase Sapphire Preferred?

I get some extra rewards, because I’m CPC for points. And because I go overseas and chase has been helpful with my banking overseas so far.
Message 14 of 26
Established Contributor

Re: Should I apply for Chase Sapphire Preferred?

I would get a Freedom or Freedom Unlimited to start with.  Then I'm sure a CSP will be available reasonably shortly,  I don't have anwhere near your assets and got a CSP 15 months after starting my credit card relationship with Chase.  My bigger question is: Can you justify the AF after the first year?  I don't think I can.

EX610 TU 602 EQ 592d thanks to a BS collection
Cap1 QS-$4,500 Chase Freedom Visa- $800 Chase Freedom Unlimited- $500 Victoria's Secret- $1150 Citi DC- $800 Amazon Store Card- $3,500 AMEX Hilton Honors-$1,000 Discover It-$1,000 Wal-Mart MC $1020 Chase Sapphire Preferred-$5,000
Auto Loan Opened 2-5-16 $1786/$5500
Message 15 of 26
Established Member

Re: Should I apply for Chase Sapphire Preferred?

Bit of an Update,

 

I held off applying, and recently logged in and saw this:

 

Screen Shot 2017-12-30 at 2.09.52 AM.png

 

Now, I wanted to know what "exclusive offer" meant, and if it the same as pre-approved for Chase Sapphire Preferred. What's really strange is when I go through the normal pre-qualified Chase site, it says I have no offers. (I suspect since I'm under 21). And, what do you think are my odds since I have a lower income (college student)? Should I wait a bit more or go for it?

Message 16 of 26
Established Member

Re: Should I apply for Chase Sapphire Preferred?

Green checkmark offers from Chase are typically very strong and you're getting 10k extra UR points with this offer, so I would say go for it.  And if it doesn't work out, definitely try calling the reconsideration line.

Message 17 of 26
Regular Contributor

Re: Should I apply for Chase Sapphire Preferred?

I agree with Satisfiedllama.  You have the green checkmark, which is usually a solid approval.  I would go for it.

Message 18 of 26
Contributor

Re: Should I apply for Chase Sapphire Preferred?

"Execlusive offer" is just that you are getting a personalized offer than the public cannot get.

Probably because of your CPC Status.

60,000 UR points is pretty good.

 

This card and others in the same tier really like to see some time on your credit report. So you very well may be eligible if you have had your capital one account for over 6 months with healthy activity. Unfortunately, it is up to the bank if they want to consider AU accounts and I do not believe Chase will use that history to deem your creditworthiness. You should only rely on your one account.

 

I would say with that offer being in your grasp there is a very good chance you will be approved. I would totally pull the trigger. If you dont get it, youre not out very much any way.

 

Little side note, I find that this card is not really that rich past the sign up bonus. It only offers 2x points on dining and travel. Where the Citi DC card gives you 2% on every purchase without the annual fee. If you really want it, you should go for it and then before the annual fee hits switch to the chase freedom or freedom unlimited. I find that the fee is not worth the metal.

 

Keep us posted!!

FICO 8 as of 01/11/2018; EQ: 726 TU: 729 EX: 737
Inquires: EQ: 4 TU: 3 EX: 5| AAoA: 1y 4m
Amex PR Gold & Green: NPSL
Amex BCP: $6000| BofA Cash Rewards VS: $17200| DIscover It: $4800| Citi DC WE: $3000| BJ's Perks Elite (Comenity): $7400| Chase Freedom: $2000| Samsung Financing (TD Bank): $7500| USAA Rate Advantage: $6000| Macy's Store Card: $7500| Kay (Comenity): $1800| Capital One QSO: $500.

Banks that will not have any more of my business: Synchrony and Capital One
Message 19 of 26
Established Member

Re: Should I apply for Chase Sapphire Preferred?

Hey 

 

 

 

 

Message 20 of 26