Chase sapphire preferred- Should I apply

[Revelate]

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@YahComb wrote:

Well...I can't tell the Others what to do, but i got a freedom and sapphire approved monday.

I got pulled on EX and EQ, ill have to wait for a letter to see which one the approval was based off of, they may have pulled  only 1 report for each card. my EQ was at 695 before apping, 7 inqs this year (all from february-april), EX 3 inqs from this year (all march-april). all other inqs(3 for both) on both reports are from August 2011 or older.

I have a 12-month credit history, and had an average of 1700 credit line across 5 cards(with the BOA 3000 being my highest, 2000 paypal second highest). I did not have to go through recon or do any convincing or haggling to get either card (did have some verification questions for the EQ fraud alert). Also have an income in the 30K's like OP.

So while we know the Freedom's standards have been loosened and lowered (i was denied for it in March), I'm not so sure that the same isn't true for the Sapphire cards now either, if theyre handing em out to people with a Short History, no lines near 5K, pretty average FICO,  inquiry ridden report, and income on the lower side. Perhaps underwriting may be slightly different for the preferred and no-fee version, though all i've seen suggests they have the same requirements.

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Wow, congrats bud.  Thanks for posting this regarding the CSP too: I would've probably said you weren't really a good candidate based on your credit score and other factors, but Chase recently has been making a big push towards customer acquisition, and it looks like Chase and BOFA are heading towards a grudge match for each others customers.  If nothing else you should've seen the bank dude's smile when I pulled out a BOFA check to put the deposit down for my Chase account.

Edit: also in a complete WTH? moment: said Chase bank dude called me about a week later to inquire as to how everything was going?  I know I went into there dressed well compared to the locals, but seriously, a personal touch for me and my history from a bank?  That's never happened anywhere else I've ever done business with financially.

Your credit enhanced score might've been better, and I suspect Chase is now FICO '08 too.  On the assumption you get your scores, would you mind letting us know what the scores were?

[JAREZZ]

I have become a firm believer of (YMMV). Just about a couple of hours ago after reading what YahComb wrote, I got up the nerve and pulled the trigger on CSP app. With in seconds I was approved. What a relief I don't believe it, I was for sure that I was going to have to recon.

After reading post after post and everyone advising that I needed a CC with a limit of 5k to show how I could handle a limit of that kind. My highest CC limit is 2k which I sparingly use but when I do I pay it in full.

I must say today is a great day my first prime card. This forum is great and thanks for all the info that everybody post from their personal experience.

[YahComb]

Grats jarezz. Feels nice, even if we Possibly only got in due to lowered standards!

[YahComb]

Wow, congrats bud.  Thanks for posting this regarding the CSP too: I would've probably said you weren't really a good candidate based on your credit score and other factors, but Chase recently has been making a big push towards customer acquisition, and it looks like Chase and BOFA are heading towards a grudge match for each others customers.  If nothing else you should've seen the bank dude's smile when I pulled out a BOFA check to put the deposit down for my Chase account.

Edit: also in a complete WTH? moment: said Chase bank dude called me about a week later to inquire as to how everything was going?  I know I went into there dressed well compared to the locals, but seriously, a personal touch for me and my history from a bank?  That's never happened anywhere else I've ever done business with financially.

Your credit enhanced score might've been better, and I suspect Chase is now FICO '08 too.  On the assumption you get your scores, would you mind letting us know what the scores were?

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Well, I had my cards expedited so i got them both today. Didn't get an explanation of my report for the Sapphire (because it only has one APR, so they don't have to tell you why you didn't get the best terms), so for all i know they could have pulled EXP for the Sapphire and EQ for the Freedom.

The Freedom said i had an EQ score of 741 on their 100-990 system. Doesn't mention FICO so i don't think it's a card enhanced EQ. Don't think its vantagescore either since those start in the 500s. They cited number of inquiries and not having any 2-year old accounts as reasons for not getting a better APR(got the 22% on this). But i did get the 15 billing cycles at 0 APR so im ok for now.