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Is my history good enough for Chase Sapphire Perferred ???

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uroosa1
Established Member

Is my history good enough for Chase Sapphire Perferred ???

So here is my background:

 

AOA- 2yr 6mo oldest accnt- 7yr2mo AU

 

INQ- TU-4 EQ-6 EX- 9   only 2 inq in last 6 months on all

 

no negatives at all on any report.

 

TU- 708  EQ- 692  EX-682    utilz- 42%

 

Revolving
10mo     Discover More-   3700/4500cl

10mo     Chase Freedm-        4/3000 cl

10mo     Barclays Rwrds       0/ 750 cl

1yr10mo Wells Fargo Secrd  0/  300 cl

6yr8mo  Macys Store AU-  18/  100 cl

7yr2mo  Kohls Charge AU  50/ 1500cl

Loans

4mo    Auto Loan  -    6500/ 8800

2yr2mo SalliMae  -     3500bal

2yr2mo SalliMae  -     1500bal

1yr6mo SalliMae  -     3500bal

1yr6mo SalliMae  -     1500bal

 


Can I get approved for Chase SP at 5k with my biggest limit 4.5k

also will thet give me the regular chase Sappire with a lower limit if not approved for SP?

 

Also I wanna apply for Amex Delta,Banana Republic Visa,Travelcity Amex, BOA Rewards, Citi AT&t Universal ?

Can I apply for another discover if its only been 10months since first one.?

 

What are my odds for approval here or am i just waisting my time,
I waited atleast over 6-9 months after getting my prime cards

to apply for more. will i get higher limits then before or about the same.

 

And please dont say pay down card and then apply or wait 2 months.

I have to apply now to save crazy intrest paid now.

Message 1 of 25
24 REPLIES 24
09Lexie
Moderator Emerita

Re: Is my history good enough for Chase Sapphire Perferred ???

How does applying for a CSP or most of the cards on your list, help save you interest?
Message 2 of 25
uroosa1
Established Member

Re: Is my history good enough for Chase Sapphire Perferred ???

My auto loan and discover balance are

at a high intrest rate.

 

So i want some 0%apr promo cards


that way i can pay them down faster

while saving intrest

 

but i want to get enought credit that it doesnt hurt my utilz alot.

 


But the question is can i get approved for a 5kcl cards like CSP with my history and high utilz rate.

Message 3 of 25
azguy13
Senior Contributor

Re: Is my history good enough for Chase Sapphire Perferred ???


@uroosa1 wrote:

So here is my background:

 

AOA- 2yr 6mo oldest accnt- 7yr2mo AU

 

INQ- TU-4 EQ-6 EX- 9   only 2 inq in last 6 months on all

 

no negatives at all on any report.

 

TU- 708  EQ- 692  EX-682    utilz- 42%

 

Revolving
10mo     Discover More-   3700/4500cl

10mo     Chase Freedm-        4/3000 cl

10mo     Barclays Rwrds       0/ 750 cl

1yr10mo Wells Fargo Secrd  0/  300 cl

6yr8mo  Macys Store AU-  18/  100 cl

7yr2mo  Kohls Charge AU  50/ 1500cl

Loans

4mo    Auto Loan  -    6500/ 8800

2yr2mo SalliMae  -     3500bal

2yr2mo SalliMae  -     1500bal

1yr6mo SalliMae  -     3500bal

1yr6mo SalliMae  -     1500bal

 


Can I get approved for Chase SP at 5k with my biggest limit 4.5k

also will thet give me the regular chase Sappire with a lower limit if not approved for SP?

 

Also I wanna apply for Amex Delta,Banana Republic Visa,Travelcity Amex, BOA Rewards, Citi AT&t Universal ?

Can I apply for another discover if its only been 10months since first one.?

 

What are my odds for approval here or am i just waisting my time,
I waited atleast over 6-9 months after getting my prime cards

to apply for more. will i get higher limits then before or about the same.

 

And please dont say pay down card and then apply or wait 2 months.

I have to apply now to save crazy intrest paid now.


This is what 95% of the members on this forum are going to tell you because that is what you need to do. Also, your revolving credit has very little history as it is still pretty new. 

 

The CSP is not 0% intro rate. If you need to BT then I would suggest the Slate

Message 4 of 25
MaltIR
New Member

Re: Is my history good enough for Chase Sapphire Perferred ???

You might not want to hear it, but if you want a CSP that is exactly what you need to do. I'd say your odds of getting approved are close to nil with your low AAoA and having a card maxed out. Like the poster above said, if you are looking for a 0% BT card then the slate is what you should be looking at. Even then, you probably are not going to get a high limit card with a util % sitting above 30%

 

Have you considered calling Discover and asking them to lower your intrest rate? Lots of people have had success with calling them and getting them to lower it a few percentage points every few months until its sitting at the lowest it can go!

Message 5 of 25
azguy13
Senior Contributor

Re: Is my history good enough for Chase Sapphire Perferred ???

OP, isnt your Freedom still in the 15 month 0% promo? I am betting the 3% fee will be less than you will pay in interest on the maxed out card. 

Message 6 of 25
uroosa1
Established Member

Re: Is my history good enough for Chase Sapphire Perferred ???

Would it be better to apply for like a chase southwest?

 

also since i have the discover more for like 10 months now

can i apply for the discover it too?

 

I dont know, i think i can get approved for quite a few cards

even with my utilz. around low 40's

 

I'm thinking i might just apply for 5-6 prime cards and

prove i can get approved for like 4.

 

My goal is to get 15k or more in new credit. doable?

 

 

If my one account reports the $0 balance today(which it should - (chase and 2nd day after statement cut already!!!)

i will go ahead and do a app spree and test out for others to compare too.

Message 7 of 25
navigatethis12
Valued Contributor

Re: Is my history good enough for Chase Sapphire Perferred ???

The only problem I see is the high utilisation, although people have been getting approved with theirs somewhat high too. I was approved with more inquiries and a lot less shorter average age of accounts, although I dont think that matters as much as people think it does. You don't need a limit of 5,000 before they will approve you. If you've been using and paying the Freedom off nicely then that will really help you. The regular Sapphire still needs a 5,000 limit and they have the same requirments.

 

People have reported trouble when trying to obtain more than one personal Discover card, but you can try. You would not be able to transfer the Discover More balance to the Discover IT card, if that was why you wanted it.

 

Even if you did get approved for these cards, the limits would be lower since the reports do not look as good as they could. Although, it's only 3700 in debt, so even though you're almost at 50%, it's a miniscule amount. If your income is high enough that 3700 isn't a problem you may not have a problem with these cards. Citi and American Express do not let you talk to credit analysts though, so if a computer decisions it then that's that. Neither seem to be good with reconsiderations either.

 

 

Message 8 of 25
azguy13
Senior Contributor

Re: Is my history good enough for Chase Sapphire Perferred ???


@uroosa1 wrote:

Would it be better to apply for like a chase southwest?

 

also since i have the discover more for like 10 months now

can i apply for the discover it too?

 

I dont know, i think i can get approved for quite a few cards

even with my utilz. around low 40's

 

I'm thinking i might just apply for 5-6 prime cards and

prove i can get approved for like 4.

 

My goal is to get 15k or more in new credit. doable?

 

 

If my one account reports the $0 balance today(which it should - (chase and 2nd day after statement cut already!!!)

i will go ahead and do a app spree and test out for others to compare too.


I would caution you against applying for 5-6 prime cards at one time. I say this for a couple different reasons.

 

1.) You most likely will not be able to run enough money through each card to get the bonuses 

2.) By applying for that many prime cards your INQ's will go up and it is a big red flag to current lenders and you risk AA. This has personally happened to me. 

3.) If approved, you will most likely get low initial CLs due to your current lower limits and a maxed out card. 

4.) Credit is a marathon, not a sprint. 

5.) You should never app for new cards simply to "prove" anything to anyone, including yourself. Focus on growing your current CLs instead of hammering your AAoA.

 

Now, this is all advice. You obviously do not have to listen to anyone on this forum but remember that most of us have been where you are at. If you truly only need a 0% BT card, just get one. There is no need to app for cards like the Chase Southwest if you do not fly Southwest often.

Message 9 of 25
youngandcreditwrthy
Senior Contributor

Re: Is my history good enough for Chase Sapphire Perferred ???

Idk.. Banks don't like to see your "highest limit" near its limit...
I'd say 50/50
But there are a plethora of CSP approvals lately...
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 10 of 25
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