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Chase Sapphire Preferred and American Express Platinum Information Needed PLEASE!!!

New Visitor

Chase Sapphire Preferred and American Express Platinum Information Needed PLEASE!!!

Hello All,

 

I have two questions in one.

 

Could some one please give a guess at my chances about getting approved for either a Chase Sapphire Preferred CC or a Platinum American Express Charge Card?  Currently my credit score is 760, I currently have a Best Buy In-Store Credit Card ($1600 limit), and two Capital One Credit Cards ($1500 limit and $5000 limit)  If you currently look at my credit card balance I have $300 on the one and that is all, I typically pay my balance off every month.  I also have had a student loan of $15,000 which I have paid off in full.  I have had one credit check in the past two years and I have had a credit card since 2010.  This is all that is on my credit report.  I don't know if they look at my income but I currently make about 40,000 a year, this might hold me back possibly if they take that into consideration.

 

Also, could someone please give me any suggestions on which one to get?  I understand one is a Credit Card and one is a Charge Card.  I know they are both good for traveling and I understand that the AMEX has a HUGE $450 yearly fee and the Chase has a $95 yearly fee but waived for the first year.  I personally can easily justify either of the fees considering the travel I do.  I am leaning towards the Chase because of the 1:1 points transfer because I have memberships with Priority Club, Delta and Hilton.

 

Thank you so much!

Jessica

Message 1 of 22
21 REPLIES
Established Contributor

Re: Chase Sapphire Preferred and American Express Platinum Information Needed PLEASE!!!

Well...First of all, I PERSONALLY think that you have a pretty good chacne at getting approved for the CSP. For the platinum, i'm not sure since I don't really see a whole lot of people with the Platinum.

Chase Sapphire Reserve-10k
Chase Freedom-4k
1st Financial Bank USA-11.4k
USAA Amex-7.5k
USAA Visa Sig-7k
Citi Thank you Preferred-4.8k
Citi Diamond-2k
Amex Gold-NPSL

FICO8-11/2017
EX: 737
EQ: 722
TU: 735
Message 2 of 22
New Visitor

Re: Chase Sapphire Preferred and American Express Platinum Information Needed PLEASE!!!

Thanks for you input!

Message 3 of 22
Super Contributor

Re: Chase Sapphire Preferred and American Express Platinum Information Needed PLEASE!!!

i think you are definitely will get approved for the CSP. Even if you don't get an instant approval, you definitely will get approved later on.

Chase usually likes to match limits however, so chances are they will give you a CL around 5000. You can always call recon and ask for more and see how it goes.

 

Best of luck! 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Message 4 of 22
Moderator Emerita

Re: Chase Sapphire Preferred and American Express Platinum Information Needed PLEASE!!!

Message 5 of 22
New Visitor

Re: Chase Sapphire Preferred and American Express Platinum Information Needed PLEASE!!!


enharu wrote:

i think you are definitely will get approved for the CSP. Even if you don't get an instant approval, you definitely will get approved later on.

Chase usually likes to match limits however, so chances are they will give you a CL around 5000. You can always call recon and ask for more and see how it goes.

 

Best of luck! 


Thank you for your input!

Message 6 of 22
New Visitor

Re: Chase Sapphire Preferred and American Express Platinum Information Needed PLEASE!!!


09Lexie wrote:
I concur

Thank you!

Message 7 of 22
Valued Contributor

Re: Chase Sapphire Preferred and American Express Platinum Information Needed PLEASE!!!


MuzickLover13 wrote:

Hello All,

 

I have two questions in one.

 

Could some one please give a guess at my chances about getting approved for either a Chase Sapphire Preferred CC or a Platinum American Express Charge Card?  Currently my credit score is 760, I currently have a Best Buy In-Store Credit Card ($1600 limit), and two Capital One Credit Cards ($1500 limit and $5000 limit)  If you currently look at my credit card balance I have $300 on the one and that is all, I typically pay my balance off every month.  I also have had a student loan of $15,000 which I have paid off in full.  I have had one credit check in the past two years and I have had a credit card since 2010.  This is all that is on my credit report.  I don't know if they look at my income but I currently make about 40,000 a year, this might hold me back possibly if they take that into consideration.

 

Also, could someone please give me any suggestions on which one to get?  I understand one is a Credit Card and one is a Charge Card.  I know they are both good for traveling and I understand that the AMEX has a HUGE $450 yearly fee and the Chase has a $95 yearly fee but waived for the first year.  I personally can easily justify either of the fees considering the travel I do.  I am leaning towards the Chase because of the 1:1 points transfer because I have memberships with Priority Club, Delta and Hilton.

 

Thank you so much!

Jessica



Based on your information, I think you'd likely qualify for either one.  IIRC, the underwriting for the AMEX Platinum is consistent across all the charge cards, as long as you can justify that hefty AF, I think you might be approved for it.  But given the choice between the two, I think that the CSP is a better all around card, giving you a lot more flexibility.  CSP is a flexible spending card, the Platinum is NPSL card to be paid in full when the bill arrives.  That too should perhaps tip the scale in CSP's favour, in case there are times you might need to carry a balance for a month or two. 

EX = 849 EQ = 850 TU = 850 as of 07/2017
Retired and Retiring Cards!
Message 8 of 22
Valued Member

Re: Chase Sapphire Preferred and American Express Platinum Information Needed PLEASE!!!

if that score is EX FICO you are golden (platinum? ) for both. I got the AmEX platinum with 686 EX FICO.

EQ 772
TU 764
Message 9 of 22
Established Contributor

Re: Chase Sapphire Preferred and American Express Platinum Information Needed PLEASE!!!

These are two very different cards that serve very different purposes.

The platinum isn't a great card for actual travel expenses. You only get 1 mr point/dollar spent. The real benefit for this card is the perks: lounge access, Starwood gold, global entry, etc. if you like mr points and are hoping to earn lots of them for your business travel (I assume mostly business, given your income), the premier rewards gold is better for earning points.

The csp doesn't come with a lot of perks. The concierge service is great, but there is no lounge access, no hotel elite status, etc. however, the csp earns 2 ultimate rewards points for all travel expenses, including parking, train tickets, tolls, etc. keep in mind, though, that ultimate rewards points dont transfer to either delta or hilton. Only priority club (of the ones you listed) which is often the worst valued redemption (unless using for point breaks).

So if perks are more important, go platinum. If points are more important, go csp. If points that convert to delta or hilton are important, consider pr gold instead. And if you stay at hilton a lot, get the citi hilton reserve or Amex surpass as well. You will earn 10 or 12 pts/dollar instead of two.
In wallet: Ink Plus 10k, AMEX TE 25k. In bag: CSP 16k, USAA WMC 15k, Hyatt 13k, United MPE 12k, AMEX HHonors 3k. In SD: Cap 1 QS 5k, Discover IT 7k. FICO 08 says my EQ is now 844, was 510 in 2010.
Message 10 of 22