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Established Member
Butter41
Posts: 14
Registered: ‎12-26-2012
0

Really want a chase sapphire preferred

I believe that I have a negative history with Chase. I had a checking account with them, that was converted from WAMU. I had it until about 2010, for about 6 years consecutive. I was laid off many times during that period and used overdraft about 30 times probably. The overdrafts were always paid because there was always money going in every 2 weeks or so.

Next, I became an AU on a Chase freedom with 2.5k limit. My ex hasn't been late on that account for about 4 years, but it was closed because of credit rehab by chase (that was one of their conditions). It was just PIF this week.

So, what are my chances of getting approved for a CSP? My current income is 25K and I have a 660 TU on myfico.com.

 

Further, my highest credit limit ever is 750 on cap1 rewards. I've had much higher limits on store cards, but they are closed. I never had a need for credit card, I felt, but got the Cap1 about 1 1/2 years ago.

 

Now, I' m trying to build credit and continue being fiscally responsible

Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
0

Re: Really want a chase sapphire preferred


Butter41 wrote:

I believe that I have a negative history with Chase. I had a checking account with them, that was converted from WAMU. I had it until about 2010, for about 6 years consecutive. I was laid off many times during that period and used overdraft about 30 times probably. The overdrafts were always paid because there was always money going in every 2 weeks or so.

Next, I became an AU on a Chase freedom with 2.5k limit. My ex hasn't been late on that account for about 4 years, but it was closed because of credit rehab by chase (that was one of their conditions). It was just PIF this week.

So, what are my chances of getting approved for a CSP? My current income is 25K and I have a 660 TU on myfico.com.

 

Further, my highest credit limit ever is 750 on cap1 rewards. I've had much higher limits on store cards, but they are closed. I never had a need for credit card, I felt, but got the Cap1 about 1 1/2 years ago.

 

Now, I' m trying to build credit and continue being fiscally responsible


Slim to none. Chase likes to see a CC 5k+ with a year of good history to get in on the CSP. That is YMMV but your file is too thin for it.

 

I would suggest trying for the Freedom or Discover IT.




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Moderator
09Lexie
Posts: 25,031
Registered: ‎09-13-2012
0

Re: Really want a chase sapphire preferred


Butter41 wrote:

I believe that I have a negative history with Chase. I had a checking account with them, that was converted from WAMU. I had it until about 2010, for about 6 years consecutive. I was laid off many times during that period and used overdraft about 30 times probably. The overdrafts were always paid because there was always money going in every 2 weeks or so.

Next, I became an AU on a Chase freedom with 2.5k limit. My ex hasn't been late on that account for about 4 years, but it was closed because of credit rehab by chase (that was one of their conditions). It was just PIF this week.

So, what are my chances of getting approved for a CSP? My current income is 25K and I have a 660 TU on myfico.com.

 

Further, my highest credit limit ever is 750 on cap1 rewards. I've had much higher limits on store cards, but they are closed. I never had a need for credit card, I felt, but got the Cap1 about 1 1/2 years ago.

 

Now, I' m trying to build credit and continue being fiscally responsible


I don't think you will have negative history because you were just an AU but the issue of an approval for a CSP seems iffy. Your current CL and score sounds like your chances for approval would be with the Freedom Visa. 

 

IMO

Valued Contributor
ryanbush
Posts: 1,295
Registered: ‎08-19-2012
0

Re: Really want a chase sapphire preferred

You most likely need to wait until you're score is 700+ or you have a couple cards with a 5k+ limit with history before you apply...  

Chase Sapphire Perferred | Chase Freedom | AMEX Platinum | AMEX Delta Platinum | AMEX SPG | Capital One Venture | Capital One Quicksliver | Discover IT | ABFCU Visa | Citi AA WEMC
Established Contributor
ObeyJohnny12
Posts: 591
Registered: ‎05-05-2012
0

Re: Really want a chase sapphire preferred

Agree with everyone. You current credit lines are too low for the CSP. I suggest applying for your own Freedom and giving a few months to build history with Chase.
Gardening Since: March 4, 2013.
In My Wallet: Chase: Freedom Visa Signature | Sapphire Preferred World Mastercard. |
Established Member
Butter41
Posts: 14
Registered: ‎12-26-2012
0

Re: Really want a chase sapphire preferred

How would I go about getting a card with a 5k limit? I called Cap1 for a CLI and was denied. I'm also living off of a severance right now, not currently employed. Does that matter?

 

I have a 8 year positive history with AMEX charge cards. Would I have a chance with a revolver with them, considering I am not working? My severance is about 20k a year.

Regular Contributor
omskillet
Posts: 118
Registered: ‎01-04-2012
0

Re: Really want a chase sapphire preferred


Butter41 wrote:

How would I go about getting a card with a 5k limit? I called Cap1 for a CLI and was denied. I'm also living off of a severance right now, not currently employed. Does that matter?

 

I have a 8 year positive history with AMEX charge cards. Would I have a chance with a revolver with them, considering I am not working? My severance is about 20k a year.


The only thing you can really do is wait. Its painful I know. Sapphire is going to be there waiting for you when you're further along on your credit journey. Its not going anywhere. 

New Contributor
gpfirestone
Posts: 93
Registered: ‎02-20-2013
0

Re: Really want a chase sapphire preferred

Honestly if you're only making $25k a year you have 0 chance of getting a CSP.  The minimum starting credit for that card is $5,000.  At that income level you maybe have $3,000 of disposable income a year assuming you're single and have no debt.  Just get the most basic rewards card out there and build your credit until your income is higher.  Credit card reward skills are really only needed for serious spenders.  Get some basic, possibly a low intro APR card.  For you I would personally recommend getting a Discover IT card.  Another one you may want to consider is the Chase Amazon Visa since it is easy to get and you can build a reputation with Chase in order to apply for the CSP down the road.

:Capital One Spark Business $45k:::Chase Sapphire Preferred $18k:::Chase Amazon Visa $3k:::American Express BC $6k:::Chase Ink Plus $15k:::American Express Business Plum:::American Express Business Platinum::Citi Diamond Preferred $14k:::REI Visa $6k::Capital One Quicksilver $15k:

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Established Contributor
toppers555
Posts: 550
Registered: ‎09-28-2012
0

Re: Really want a chase sapphire preferred

[ Edited ]

gpfirestone wrote:

Honestly if you're only making $25k a year you have 0 chance of getting a CSP.  The minimum starting credit for that card is $5,000.  At that income level you maybe have $3,000 of disposable income a year assuming you're single and have no debt.  Just get the most basic rewards card out there and build your credit until your income is higher.  Credit card reward skills are really only needed for serious spenders.  Get some basic, possibly a low intro APR card.  For you I would personally recommend getting a Discover IT card.  Another one you may want to consider is the Chase Amazon Visa since it is easy to get and you can build a reputation with Chase in order to apply for the CSP down the road.


I wouldn't go as far as to say that  but yes OP needs to focus on other cards untill your income increases. 



TU 715 No apps to 05/13 cash+ 5/13!!! 738 TU CSP April 13!!!CSP approved May 13!!!


New Contributor
gpfirestone
Posts: 93
Registered: ‎02-20-2013
0

Re: Really want a chase sapphire preferred

Just to put it into context for what I'm saying...you would likely get about $50 in rewards back in a year with your spending on it and you would be paying $95...why do it?

:Capital One Spark Business $45k:::Chase Sapphire Preferred $18k:::Chase Amazon Visa $3k:::American Express BC $6k:::Chase Ink Plus $15k:::American Express Business Plum:::American Express Business Platinum::Citi Diamond Preferred $14k:::REI Visa $6k::Capital One Quicksilver $15k:

FIA/BOA is the plague. AVOID THEM!

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