Question regarding Chase Sapphire preferred

[Feather_Hat]

hi guys, i have quick questions regarding Chase Sapphire Preferred (CSP) card..

I was wondering how hard would it be to get CSP..

I was just approved for Chase Sapphire (NOT preferred) with $5000 CL but found out that SCP offers far more benefits ! ($95 fee seems to be neglectable with all those benefits !)

I know i should've done some research so shame is on me =(

but since i have short credit history (longest is 8 month) and low credit score (FICO 682), i figured that applying for CSP would be stupid idea...(my util is currently on 4%)

can anyone share their application experience with CSP so that i can figure out how long i should wait until before applying for CSP?

Thanks in advance !

[Feather_Hat]

!! oh my i also just found out that CSP is METAL CARD !! omg lol

[hacsx2]

I think you can call them back and ask for a product change.

I made the same mistake as you.  It was later that I realized that CSP was better and I just called in and asked to change the card.

I am not sure about if you can do it when you just got the card.

[hacsx2]

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@Feather_Hat wrote:

!! oh my i also just found out that CSP is METAL CARD !! omg lol

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Yes and it is my best looking card.

[Commandolam]

I wouldn't call a score of 682 "low", lol.  But it shouldn't matter. I heard the underwriting standard for the CS and the CSP are about the same so I'd give them a call and see if they can get you a CSP instead.  Worst case scenario, they say no and you get a pretty solid card with no annual fee.

[Stralem]

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@Feather_Hat wrote:

hi guys, i have quick questions regarding Chase Sapphire Preferred (CSP) card..

I was wondering how hard would it be to get CSP..

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I spoke with a Chase credit analyst just this morning about what I'd need to do to qualify for the Sapphire line of cards. I'm planning to go overseas in a little over a year, and I'm trying to decided on whether to take a Sapphire or an Amex with me.

Anyway, she told me the underwriting is the same for both versions of the card. It just comes down to whether or not you're willing to pay an annual fee in exchange for better perks.

[Transmogrifying_Bee]

As mentioned above, the Sapphire card can be PC'd to the Sapphire Preferred version with little difficulty. 

As to the original question, is it more difficult to get approved for the CSP version (vs the CS), my understanding is that BOTH Chase cards have about the same criteria for acceptance.  Credit Karma statistics indicate, per their sampling, that 86% of the CSP cardholders have credit scores above 700 (55% above 750).  For CS cardholders, 85% are above 700 (56% above 750).  Virtually the same . . . !

[hacsx2]

Chase was very nice to me.  They gave me $5k limit with my score of 660 when i apped 2 years ago with only 2 credit card on files with limit of $3000 secure card and $500 on the other.

[monkeywre]

I would suggest not converting. If you do a product change you will not get the 50k bonus offered by the CSP. Since the regular sapphire has no annual fee why not wait 6 months then apply for the CSP and get both sign-up bonuses. You can always call Chase re-consideration and offer to close your CS to get the CSP when you put that app in down the road.

[longtimelurker]

+1.  The outsize bonus and the waived 1st year AF is what makes the CSP risk-free to try.  Unless you really need it now, not worth giving up the 50,000 points.