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Will I be approved for Chase Sapphire Preferred?

New Member

Will I be approved for Chase Sapphire Preferred?

Hey guys, first post here!

I am 21 and have a 3 year credit history from a Discover it card. My credit score is 768, income is around 64k, and have never missed a payment. I only have one credit card, the discover, and am ready to graduate from that.

If I were to apply, would I get approved? If yes, what do y'all think my credit limit be? I want a sufficient limit to be able to reach the 50k points bonus

Thanks
16 REPLIES
Community Leader
Valued Contributor

Re: Will I be approved for Chase Sapphire Preferred?

Welcome! Your file's thin but sounds like there shouldn't be a problem. What is the credit line on the Discover and what percent of it is reporting on your most recent statement?

$500k+ club. | FICO 08 [Nov 2017]: EQ 743 EX 741 TU 743 | World's worst gardener.
Message 2 of 17
New Member

Re: Will I be approved for Chase Sapphire Preferred?

Thanks for the reply. Credit limit is 1k, most recent statement was 26%.

I also read that people can call a reconsideration line if they get the "pending" screen after applying. Does this generally work?
Message 3 of 17
New Member

Re: Will I be approved for Chase Sapphire Preferred?

Just want to clarify, my FICO is 768. Don't know the full score
Message 4 of 17
Established Member

Re: Will I be approved for Chase Sapphire Preferred?

I think you will be fine. You should easily be approved for the card for at least 7-10k. I have been approved for the CSP and CSR within a two month span with a 690CS.
Message 5 of 17
Senior Contributor

Re: Will I be approved for Chase Sapphire Preferred?


TST12 wrote:
Hey guys, first post here!

I am 21 and have a 3 year credit history from a Discover it card. My credit score is 768, income is around 64k, and have never missed a payment. I only have one credit card, the discover, and am ready to graduate from that.

If I were to apply, would I get approved? If yes, what do y'all think my credit limit be? I want a sufficient limit to be able to reach the 50k points bonus

Thanks

Have you checked the pre-approvals on the Chase Web site? See what comes up for you.

NFCU Platinum $7300- AMEX BCP $9000- PenFed Power $11000- Chase FU $11700- DCU Platinum $15000- Care Credit $15000- AMEX EDP $15000- NFCU CLOC $15000- Chase CSP $18900- Discover IT Miles $20000- Penfed Promise $25000- NFCU Go Rewards $27100- Venture $28750 **As of 12/9/17** EX- 756(16) TU- 775(15) EQ- 742(15) UTI 8%- Clean Files
Message 6 of 17
Valued Contributor

Re: Will I be approved for Chase Sapphire Preferred?

What website did you use to see your credit score?
FICO8FICO8Visit my posts:
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550EX
570TU
559EQ
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701TU
734EQ
FICO alert: why did my credit score drop???
Message 7 of 17
Senior Contributor

Re: Will I be approved for Chase Sapphire Preferred?


ABCD2199 wrote:
What website did you use to see your credit score?

I'm thinking that 768 is probably his TU FICO 08 off of his Discover account.

Message 8 of 17
Community Leader
Valued Contributor

Re: Will I be approved for Chase Sapphire Preferred?

OP, thanks for providing more info.  Your score is fine and well above the requirements for a CSP or CSR, my concern would be that Chase doesn't usually like to be the first lender to give you a really large credit line and the CSP has a minimum $5,000 credit line ($10k for CSR).  Two things... Certainly check the Chase preapproval page - if it gives you a single APR percentage they are very likely to approve you.  Finally, have you asked Discover for a credit line increase?  3 years seems to be a long time to be at $1,000.  It is a soft pull and they can be quite generous.  I would try that first, and if they give you a big increase, I would wait until that is reporting to the 3 CBs with the new limit (within a few days after your next statement closes), which should improve your chances of a healthier starting line.  Myself and a few others at the same time at the beginning of the year all got $12k SLs on the CSP.


$500k+ club. | FICO 08 [Nov 2017]: EQ 743 EX 741 TU 743 | World's worst gardener.
Message 9 of 17
New Member

Re: Will I be approved for Chase Sapphire Preferred?

Yes, I have checked the pre approvals page, it said no offers available. I will apply sometime soon. Thanks to all who helped!

Message 10 of 17