11-17-2012 08:57 PM
So two days ago (when I thought I would be going on vacation in the near future) I applied for the Chase Sapphire card for the 10,000 sign-up bonus. Though I know the Chase Sapphire Preferred is the better deal, I really can't forsee me spending $3000 in the first 3 months, or willing myself to spend it on gift cards i'll "eventually" use. Plus I don't want to go through the whole rigamoro of downgrading/cancelling the card to avoid the annual fee. I already have a Chase Freedom with some UR points so that's the reason why I decided to go for the Sapphire. I've been wanting a real travel card anyways! Even if I get declined, I've secretly been wanting the Capital One VentureOne, so it's not the biggest deal in the world!
After applying, I received the "your application must be further reviewed..." and calling so far to check the automated status gives me the same thing, you're being reviewed, you'll get a response in approximately 2 weeks.
Anyone have any advice/input on whether or not I'll be approved? My signature has my cards so far. Here's also some additional info:
AAoA 1 year 7 months
Oldest Account 2 years 5 months
Likely pulled Experian, 4 credit inquiries, 2 recently from August
100% Payment History, no baddies
Also have a Student loan at about $14,500, deferred
Annual Income $116,400
11-17-2012 09:01 PM
I reckon you will get it since your file and income are decent. Having a card with them for a year will also help you in getting the approval. In my experience, whenver the status line gives the "in two weeks" line, it means you will be approved. You could try ringing them to have the application processed in real time, but you should have nothing be concerned about.
11-17-2012 09:05 PM
I've been reading the forums and seen this concensus, but still wasn't sure since a lot of the approvals were usually from people with much longer credit histories, though varying "baddies" (e.g. too many cards from Chase, previous late payments, large number of credit inquiries). Also have seen the few and far between with people with 800's getting denied, but I'm sure if they recon'd could've got it. So thanks!
11-17-2012 09:38 PM
Sounds like you'll be approved. If you don't hear anything in another two days or so, try one more call. I got a 7 to 10 day message, called after 3 or 4 days, and while the initial rep I spoke to didn't have an answer, she transferred me to a very nice guy who asked a few questions, then put me on hold, then said I was approved. Best of luck.
11-17-2012 10:38 PM - edited 11-17-2012 10:40 PM
You might have already maxed out Chase's internal limit. Chase considers the total amount of credit you have with them, not per account basis. You already have $7,000 Chase Freedom in your hand. It is possible that Chase does not feel comfortable extending any more credit to you.
Call the backdoor number. If needed offer to transfer a portion of CL from Freedom to Sapphire.
Saphhire is not a travel card (3% FTF and no bonus spending on travel). BofA Travel Rewards will be better than VentureOne, since former has EMV and better reward payout (3X if buying tickets through BofA, 1.5X otherwise).
11-18-2012 05:09 AM
11-18-2012 06:13 AM
Adding on to the discussion, I just applied for the preferred and also got the two weeks message
AAoA: 8 mo
Oldest Account: 1 Yr 8 Mo
Paying Car loan since May 12
100% on time
5 inq, recent card on 10/1
Here's to both of us making it in!
11-18-2012 09:03 AM
11-18-2012 09:11 AM - edited 11-18-2012 09:11 AM
Best of luck, toful! Just called the auto app line again, still same message then again it is a Sunday!
Call the backdoor number. There is no point to call the status line. Chase usually denies people if you don't talk to its credit analyst.
11-18-2012 09:24 AM
I was going to, but since I'm not going on vacation in the near future I don't mind one way or another if it gets approved or declined whilst in purgatory, especially since I wanted the Capital One VentureOne instead for no annual fee travel. Was just wondering what the chances were! I actually planned on gardening for a while until a majority of my inquiries drop off! Thank you though!
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO