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Chase Sapphire Preferred...Finger on The Trigger

Mega Contributor

Re: Chase Sapphire Preferred...Finger on The Trigger


amercnchopz34 wrote:

LS2982 wrote:
What are your current credit lines?

LS ...looks like they are in siggy


Was posting from mobile phone could not see them Smiley Tongue

 




EQ FICO 548 3/3/16
Message 11 of 19
Mega Contributor

Re: Chase Sapphire Preferred...Finger on The Trigger

I would say until you establish a 5K line for at least 6 months to a year I would leave the CSP alone.




EQ FICO 548 3/3/16
Message 12 of 19
Established Contributor

Re: Chase Sapphire Preferred...Finger on The Trigger

Its hard to say. Scorewise youre probably good , the low limits could hurt you though. I myself apped with my 2 highest cards at 3k and 2k and was approved with a 695 eq-I was double pulled on ex too (fewer inqs than my eq). I was also approved for a freedom I apped on the same day. I had to call for verification but no recon questions asked. Total history of 1 yr, average 7.5 mos

EQ-736(08/14) TU-752(09/14)
Newest to Oldest
Barc Sallie Mae 6K | Citi TY Pref 4.5K | US Bank Cash+ 10K | Chase Freedom 11.7K | Disc It 10.5K | Amazon Store 2.5K | BOA Cash Rewards 10.5K |

Closed Cards: 4 Oldest: 3yrs AAOA: 2yrs
Message 13 of 19
Mega Contributor

Re: Chase Sapphire Preferred...Finger on The Trigger


YahComb wrote:
Its hard to say. Scorewise youre probably good , the low limits could hurt you though. I myself apped with my 2 highest cards at 3k and 2k and was approved with a 695 eq-I was double pulled on ex too (fewer inqs than my eq). I was also approved for a freedom I apped on the same day. I had to call for verification but no recon questions asked. Total history of 1 yr, average 7.5 mos


Thats interesting, I have the 5K lines (2) and scores will be back up to 700 range I hope in 6 months. Myabe I can get it then, probably would be better to wait a full year.

 




EQ FICO 548 3/3/16
Message 14 of 19
Established Contributor

Re: Chase Sapphire Preferred...Finger on The Trigger


YahComb wrote:
Its hard to say. Scorewise youre probably good , the low limits could hurt you though. I myself apped with my 2 highest cards at 3k and 2k and was approved with a 695 eq-I was double pulled on ex too (fewer inqs than my eq). I was also approved for a freedom I apped on the same day. I had to call for verification but no recon questions asked. Total history of 1 yr, average 7.5 mos


I think sometimes people take the previous $5K line thing a little too strictly.  This is certainly not a firm requirement, as you have demonstrated.  Just because someone was told that the primary reason they weren't approved was no previous high limits doesn't make that a strict requirement for everyone, just something that helps with approval.  The 1 year of history is interesting and so is the 695 FICO.  But that just goes to show that this card isn't as hard to get as some believe it to be.  I mean, Chase has been advertising it alot lately and they offer an incredible general signup bonus, they are looking for more cardmembers.

FICOs (2/24/12): EX 752, EQ 740
Chase Sapphire Preferred, Freedom; American Express PR Gold, Blue Cash Everyday
Message 15 of 19
Valued Contributor

Re: Chase Sapphire Preferred...Finger on The Trigger

I got an instant approval last year. My EQ was ~800, no baddies ever, AAoA = 10 years, highest CL was 18.2k through BofA, personal income (not household) was 115k at the time. I think with your scores your odds aren't good, especially with a 70k income and no current CLs above 5k. If you work at it for a year, get your scores decently above 700 and get a higher CL on another card you'll likely be ok.
EX 798, EQ 789, TU 784
American Express Platinum (NPSL) || Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Barclays American Airlines Aviator Red World Elite Mastercard - $20,000 CL || Chase IHG Rewards World Mastercard - $25,000 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL || Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank Hilton Reserve Visa Signature - $20,000 CL || J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Message 16 of 19
Valued Contributor

Re: Chase Sapphire Preferred...Finger on The Trigger


Koop10010 wrote:

YahComb wrote:
Its hard to say. Scorewise youre probably good , the low limits could hurt you though. I myself apped with my 2 highest cards at 3k and 2k and was approved with a 695 eq-I was double pulled on ex too (fewer inqs than my eq). I was also approved for a freedom I apped on the same day. I had to call for verification but no recon questions asked. Total history of 1 yr, average 7.5 mos


I think sometimes people take the previous $5K line thing a little too strictly.  This is certainly not a firm requirement, as you have demonstrated.  Just because someone was told that the primary reason they weren't approved was no previous high limits doesn't make that a strict requirement for everyone, just something that helps with approval.  The 1 year of history is interesting and so is the 695 FICO.  But that just goes to show that this card isn't as hard to get as some believe it to be.  I mean, Chase has been advertising it alot lately and they offer an incredible general signup bonus, they are looking for more cardmembers.


+1. YMMV as always but like Amex, Chase seems to give some leeway if you have a high income (6 figures or more). The higher your income the lower a few other things can be, up to a certain point. I do think the CSP is too easy to get though. They've been lowering the standards to cash in on the interest. You can't blame them perse, but I would like to see the requirements moved to 740+. I doubt that will happen though.
EX 798, EQ 789, TU 784
American Express Platinum (NPSL) || Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Barclays American Airlines Aviator Red World Elite Mastercard - $20,000 CL || Chase IHG Rewards World Mastercard - $25,000 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL || Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank Hilton Reserve Visa Signature - $20,000 CL || J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Message 17 of 19
Established Contributor

Re: Chase Sapphire Preferred...Finger on The Trigger

I was just approved on 9/1. TU at the time was 679 and I had 4% overall uti. My oldest account was 13 yrs. and my AAoA was 6. One paid collection at 6 months, 1 30-day late from 3 years ago, and 1 60-day late from 2 years ago. I just recently opened (Barclays, Amex Gold, Amex, and PSECU) inJuly and all were reporting. My PSECU is 15K limit and my Citibank AAdvantage from 2008 has a 8.5K limit. It was just bumped from 5K to 8.5K(HP). I did not get an instant approval for the CSP but when I called in they only asked for app information and what limit I wanted. I asked them to match my Citibank but they still gave me 5K. I tried for the Freedom that day but was declined on recon. I do have a Chase CO from 2002. It was not mentioned when I called in about the CSP but was mentioned when I called on 2nd recon attempt for Freedom. Hope that helps!


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
Message 18 of 19
Highlighted
Established Contributor

Re: Chase Sapphire Preferred...Finger on The Trigger


rtw wrote:

I was just approved on 9/1. TU at the time was 679 and I had 4% overall uti. My oldest account was 13 yrs. and my AAoA was 6. One paid collection at 6 months, 1 30-day late from 3 years ago, and 1 60-day late from 2 years ago. I just recently opened (Barclays, Amex Gold, Amex, and PSECU) inJuly and all were reporting. My PSECU is 15K limit and my Citibank AAdvantage from 2008 has a 8.5K limit. It was just bumped from 5K to 8.5K(HP). I did not get an instant approval for the CSP but when I called in they only asked for app information and what limit I wanted. I asked them to match my Citibank but they still gave me 5K. I tried for the Freedom that day but was declined on recon. I do have a Chase CO from 2002. It was not mentioned when I called in about the CSP but was mentioned when I called on 2nd recon attempt for Freedom. Hope that helps!


This raises my hopes that I'll be approved in February.

Message 19 of 19