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Member
Posts: 19
Registered: ‎05-24-2012
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Chase Credit Card Approval Process

[ Edited ]

Hi all,

 

I had a quick question about Chase credit card approvals.  I applied for the Chase Sapphire Preferred card and its pending approval.  My reason for doing so is that I'd like to be able to transfer UR from my Chase Freedom card to FF programs along with the 2x multiplier for restaurants and hotels.

 

I have CPC checking, a brokerage account with ~$100K, and a Chase Freedom card ($1500 CL).  The Chase Freedom card is old and they refused to increase my credit limit last year two months after I started my new gig.  I've always PIF for the last three years and for a while it was multiple times per month before I opened other credit accounts.  I was in school for the previous two years so income was slim to none.  Income is now in the ~$400-$500K range.  I've moved a lot of my spend to my AMEX Green Card ($10-$15K/mo) and would like to find a way to make better use of Chase.  Credit scores are anywhere from 670 to 690.

 

The reason I tell you all of this is I wanted to know if Chase will take into consideration other factors besides my credit score when reviewing whether or not to approve me for the Chase Sapphire Preferred card.  Does anybody have a similar experience to me?  Would love to know your thoughts ..

 

Established Contributor
Posts: 797
Registered: ‎05-01-2012
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Re: Chase Credit Card Approval Process

You should call to recon. I was just approved yesterday. it wasn't immediate but I called to have my app reviewed and tom provide any additional information that they might need.

Starting Score: EX: 575 (PSECU 5/2/12) TU: 582 (3/6/12) EQ: 664 (4/27/12)
Current Score: EX: 699 (PSECU 06/04/14) 702 (my FICO 08/05/14) TU: 699 (08/01/14) EQ: 675 (07/08/14)
Goal Score: 720
20K PSECU 7/12 | 12K USAA 9/12 | 11K BOA 1-2-3 9/12 | 9K Citi HHonors 9/12 | 8.5K Citi AAdvantage 5/08 | 5K Chase Sapphire Pref. 9/12 | 3.8K Barclays USAir 7/12 | 6K Walmart Dis. 11/12 | 1K Amex SPG 11/12 | 2K Amex BCP 1/13
Member
Posts: 19
Registered: ‎05-24-2012
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Re: Chase Credit Card Approval Process

I didn't get denied yet, as far as I know.  Application was submitted Friday evening.  Don't you have to wait until you are denied to recon?  I've never done it before.

Established Contributor
Posts: 797
Registered: ‎05-01-2012
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Re: Chase Credit Card Approval Process

No you don't have to wait. I t get denied either it just said that the application was under review. Call this number 1-888-270-2127.

Starting Score: EX: 575 (PSECU 5/2/12) TU: 582 (3/6/12) EQ: 664 (4/27/12)
Current Score: EX: 699 (PSECU 06/04/14) 702 (my FICO 08/05/14) TU: 699 (08/01/14) EQ: 675 (07/08/14)
Goal Score: 720
20K PSECU 7/12 | 12K USAA 9/12 | 11K BOA 1-2-3 9/12 | 9K Citi HHonors 9/12 | 8.5K Citi AAdvantage 5/08 | 5K Chase Sapphire Pref. 9/12 | 3.8K Barclays USAir 7/12 | 6K Walmart Dis. 11/12 | 1K Amex SPG 11/12 | 2K Amex BCP 1/13
Established Contributor
Posts: 797
Registered: ‎05-01-2012
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Re: Chase Credit Card Approval Process

Remember that the CSP requires a $5,000 minimum limit. They"ll want you to have experience at that level. Ask them to match or beat your highest limit.

Starting Score: EX: 575 (PSECU 5/2/12) TU: 582 (3/6/12) EQ: 664 (4/27/12)
Current Score: EX: 699 (PSECU 06/04/14) 702 (my FICO 08/05/14) TU: 699 (08/01/14) EQ: 675 (07/08/14)
Goal Score: 720
20K PSECU 7/12 | 12K USAA 9/12 | 11K BOA 1-2-3 9/12 | 9K Citi HHonors 9/12 | 8.5K Citi AAdvantage 5/08 | 5K Chase Sapphire Pref. 9/12 | 3.8K Barclays USAir 7/12 | 6K Walmart Dis. 11/12 | 1K Amex SPG 11/12 | 2K Amex BCP 1/13
Member
Posts: 19
Registered: ‎05-24-2012
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Re: Chase Credit Card Approval Process

[ Edited ]

Thanks for your help rtw.  I called and the lady on the line told me it will take two weeks to review my application.  I asked if they had all of the information they need by pulling up my Chase account information and she said yes.  Perhaps I didn't ask the right questions?

 

I'm an AU on a second Chase Freedom Visa Signature card that my father opened (as a joint account) to help with business expenses last year after my CLI from Chase got denied.  I was later approved for AMEX Green and moved 75%+ of my spend to this card.  It is my understanding though that this reports a NPSL card so wouldn't show a limit to Chase.  My spending ability is far higher than $5K on AMEX.  I was unaware of the CSP minimum limit so I imagine this will not help my case.  We'll see!

Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
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Re: Chase Credit Card Approval Process

If chase doesn't get with the program just move on and apply for an amex revolver. No point in trying to milk a bull Smiley Happy

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
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Regular Contributor
Posts: 198
Registered: ‎05-31-2011
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Re: Chase Credit Card Approval Process

Did you apply through your private client banker or by yourself? If you applied through your banker there's a separate CPC version of the Sapphire Preferred with a minimum CL of $15,000 with expanded credit guidelines.
My Cards
American Express Blue | American Express Premier Rewards Gold | Chase Amazon | Chase Freedom | Chase Sapphire Preferred | Chase United Explorer | Chase United MileagePlus Club | JPMorgan Palladium

Member
Posts: 19
Registered: ‎05-24-2012
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Re: Chase Credit Card Approval Process

TM82 - I applied online.  Should I have applied through my banker?  It was my understanding that bankers can't do much when it comes to credit card applications.

Valued Contributor
Posts: 2,300
Registered: ‎01-22-2012
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Re: Chase Credit Card Approval Process


neilyoung wrote:

TM82 - I applied online.  Should I have applied through my banker?  It was my understanding that bankers can't do much when it comes to credit card applications.


Call your CPC private banker. He/she will have options for you that normal customers won't have access to. As a CPC client, you're guaranteed access to any card Chase/JPM offers (including the Palladium card). Your CL can be issued as a percentage of your invested portfolio with them.

 

Just out of curiosity, how much did they have you deposit to open your CPC account? I've been hearing varying numbers tossed around lately.

 

FICOs: EX: 826, EQ: 817, TU: 810
Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL
Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank American Airlines Executive World Elite MasterCard - $22,500 CL
J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
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† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

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