Chase Sapphire Preferred Odds

[Anonymous]

Hello!  Looking to possibly apply for the Chase Sapphire.  

I already have a relationship with Chase with the Freedom (1500 limit) and the Southwest Card (4500 limit).  

Utilization is about 13%.

3 cards opened in past 2 years, so I would pass 5/24

Was just approved for a Citi AAdvantage Card at $7,000 (not yet on credit report)

2 limits above 5k ($5780 and $5900)

Score is around 680.  Chase pulls TU in my state.  Have a couple 30 day lates from about 2 yrs ago, but never with Chase.  

Approx. 14 inquiries in last 2 years (mostly mortgage related)

In addition, we recently closed on a house, and our mortgage is not yet on our credit report.  

I'm wondering if the relationship with Chase and the recent approval is a good indication?

Thank you!

[Anonymous]

Im sorry to say that they dont like that many inquiries. I don't know if they will approve you or not, but Chase is very picky with the CSP if you have a lot of inquires or open accounts. I wish you luck if you decide to apply. 

[RonM21]

I also think your score "may" be kind of borderline. If it were me, I'd try to get it into the 700's just to be safe.

[Anonymous]

I was approved with a 690 EQ, a couple of 30 day latest from 15 months when I applied. I did have a previous relationship too, the Freedom and a paid of car loan. Approved for 8k, I moved some limit to the Freedom Unlimited.

[Anonymous]

I personally won't ever apply for a card that I'm not 90% sure I'll be approved for and I sort of recommend that to others as well. 

I would estimate your shot at approval is maybe 50/50 or a 40% yes 60% no to be honest.  For me, that's a gamble I wouldn't take but the decision of course is yours.  You've also got to figure that if you're applying for a card that you're borderline (50/50) on getting, even if you DO get it chances are it won't be with the limit/terms that you really want.  For me it always makes more sense to wait a few more months (or however long) to get your profile into a position that will almost definitely yield an approval with respectable terms.

[Anonymous]

Have you tried the prequal site? Does the CSP show up for you? I hear Chase's prequal is pretty solid.

[Anonymous]

The prequal site doesn't list anything, but it didn't when I got approved for the Freedom, either.  

I'm fine waiting a few months if need be, and appreciate all of the honest advice.  I am flying to London in January and was wanting to combine some Chase points with the AA points from the Citi card I was just approved for.  I also was concerned my new mortgage when it posts to my credit would take a hit on my score.  

[Anonymous]

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@Anonymous wrote:

The prequal site doesn't list anything, but it didn't when I got approved for the Freedom, either.  

I'm fine waiting a few months if need be, and appreciate all of the honest advice.  I am flying to London in January and was wanting to combine some Chase points with the AA points from the Citi card I was just approved for.  I also was concerned my new mortgage when it posts to my credit would take a hit on my score.  

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How long have you had the two existing Chase cards?  I think your chances for the CSP approval might be better than so far indicated if you gave had those 2 cards for while.  I am confused though about your plan to combine Chase points with your AA miles.  How so as Chase UR points don't transfer to American Airlines.

[Anonymous]

I would agree that even if I was approved, it may be a higher interest rate and a lower limit.  I know Chase doesn't often give auto CLI's so it may be even another reason to wait a few months.  

Thanks for the tips!

[takeshi74]

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@Anonymous wrote:

I'm wondering if the relationship with Chase and the recent approval is a good indication? 

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Relationship doesn't mean anyting with any creditor.  It's all about whether or not your credit profile qualifies at time of consideration.  Previous approvals do not guarantee future approvals.

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@Anonymous wrote:

I know Chase doesn't often give auto CLI's

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Again, depends on what your credit profile qualifies for.  I've never received one.  My wife has received a number of them.  Given what you've described I would guess them to be unlikely for you.