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BradyD
Posts: 4
Registered: ‎03-20-2013
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Chase Sapphire: Good or bad idea to apply?

[ Edited ]

Hi all:  

 

I'm in need of some opinions.  I'm 25 years old with a salary of about $70,000.  My first card was a crappy Capital One Platium that I opened in August of 2011 with a $500 limit (now $750!).  I got a Discover It card in January and they gave me a $6,000 start limit.  

 

Now, I'm wanting to get a "big name" visa/MC to compliment the Discover and keep them as my main two cards.  The Chase Sapphire looks very appealing (not sure if I want preferred yet).  However, I'm nervous about applying having just opened my discover 3 months ago.  My EQ and TU FICOs are 728 and 745, respectively.  I'm also nervous about them pulling my EQ report because it has 6 inquiries on it (one from the Cap One Platinum, 1 from apartment applications [approved], 2 from car loan shopping, one from Discover, and one from Chase last year when I applied for the Freedom and was denied (I wouldn't have applied had I known what I know now abotu how credit works).

 

I have no collections or negatives on any of my reports.  

 

Could you guys weigh in on whether to apply or not?

 

Thank you!

Valued Contributor
jamesdwi
Posts: 1,970
Registered: ‎09-16-2011
0

Re: Chase Sapphire: Good or bad idea to apply?

If no baddies and UTL is low like less than 20% (10% would be better) and no cards are more than 80% UTL


Cards: Chase Southwest 20k & CSP 10k & Freedom 6.6k & Amtrak 4.6k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Sally Mae5k Sams Club MC 10k, Paypal Extras MC 6k, CapOne QS 2.5k, QS 750, Amazon 3.9k, Walmart 4.5k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 6.5k and a nice stack of store cards.
Last APP 12/15/2014
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09Lexie
Posts: 26,593
Registered: ‎09-13-2012
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Re: Chase Sapphire: Good or bad idea to apply?

Welcome to the Forum!

Congratulations on your credit profile thus far. Having the Discover with the $5k+ limit is a bonus. I just don't know if its been long enough - since your only other card is at $750. Chase can be quirky but their recons are really good. You might be approved but I think your chances at the Freedom are even better.
Chase and that internal scoring really gets under my skin.

AFAIK, they pull EX
Valued Contributor
ryanbush
Posts: 1,292
Registered: ‎08-19-2012
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Re: Chase Sapphire: Good or bad idea to apply?

I think you would be fine for CSP, let us know your limit once approved.

Chase Sapphire Perferred | Chase Freedom | AMEX Platinum | AMEX Delta Platinum | AMEX SPG | Capital One Venture | Capital One Quicksliver | Discover IT | ABFCU Visa | Citi AA WEMC
Senior Contributor
youngandcreditwrthy
Posts: 6,242
Registered: ‎08-16-2012
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Re: Chase Sapphire: Good or bad idea to apply?

I think you would be approved!!
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Regular Contributor
honky
Posts: 160
Registered: ‎01-28-2012
0

Re: Chase Sapphire: Good or bad idea to apply?

[ Edited ]

I was approved with slightly higher income, but lower scores than you.  I also have 1 baddie on there from 6 years ago.  I believe I had 7 inquiries at the time and util on my Freedom was at 80% at time of my app(overall util only about 20% and I am set up to auto PIF)....  I doubt you would have any trouble being approved if you keep your util below 10% when applying.

 

Go for the CSP.  Why wouldnt you go with that sign up bonus? 

Starting Score: 580 2/03/12
Current Score: 810 EQ // 829 TU(Walmart)
Goal Score: Achieved!

Wallet: Citi Forward(13.5k), Ink plus(18k), CSP(13.5k), Freedom(6k), BoA123(13k), Alliant CU(5k), Walmart(2k), Kohls(1.4k), QuickSIlver(7.5k) Amex Simplycash Business(46.5k)
Regular Contributor
mirachi
Posts: 146
Registered: ‎01-05-2013
0

Re: Chase Sapphire: Good or bad idea to apply?

I would apply - I was approved for the no AF CS card with 35K annual income (no idea what exactly my EX score was but somewhere between 714 - 776; probably about 740-750s since I had other inquiries on my EX report). 3 INQ on report at the time.


Last app 5/7/2014

No apps until 3/31/2016!
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myjourney
Posts: 26,659
Registered: ‎02-07-2013
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Re: Chase Sapphire: Good or bad idea to apply?

Welcome to the forum I think you have a high chance of success. Good luck!

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/13


Frequent Contributor
sarkell
Posts: 345
Registered: ‎02-27-2013
0

Re: Chase Sapphire: Good or bad idea to apply?

I'd apply if my utility was below 15%. If you get denied see if they'll recon you for a freedom.
Cards: CSP $5k, Capital One Cash Rewards VS $3100, Discover it $3k Capital One MasterCard $600, Orchard Bank $3k, Barclays Rewards MC $1250 Gapcard $900, BR $300, Neiman Marcus $1k, Macys $1200 Walmart $500
In the garden until I can get a BCP

Starting Score: 534
Current Score: 682 EQ SW 660 TU 636 EX 3/26/13
Goal Score: 720


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Senior Contributor
youngandcreditwrthy
Posts: 6,242
Registered: ‎08-16-2012
0

Re: Chase Sapphire: Good or bad idea to apply?

@honky. Did you have to recon?
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k

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