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Valued Member
Yankeefan
Posts: 42
Registered: ‎09-09-2012

Re: Will I get approved? Chase Sapphire Preferred

In November of this year I had a CapOne card with a 1k limit and a HSBC card with a 750 limit. I decided I wanted the Chase trifecta and applied for the Freedom card, assuming after 6-12 months of usage I could confidently apply for a CSP. Out of the gate Chase gives me a 6k limit. Now I understand Freedoms underwriting is different than CSP, but Chase still gave me my first >5k limit when my other lines were not close in terms of CL. If its what you want app, Chase seems to have a reasonable recon policy to help out if your denied .

Valued Contributor
chnceit
Posts: 1,524
Registered: ‎08-17-2008

Re: Will I get approved? Chase Sapphire Preferred

I believe in your case you had a bank account with Chase which helped you. Most members who have relationships with their banks have an easier chance to get a CC product.

OP, IMHO your limits are low, try to obtain CLI with your current CCC or try for the Chase Freedom

$100K in Credit
Last Credit Card App: 11/16/13
Member
Razb0yn1k23
Posts: 16
Registered: ‎12-30-2012

Re: Will I get approved? Chase Sapphire Preferred

My business account has been with chase for 5 years now.
Valued Member
Yankeefan
Posts: 42
Registered: ‎09-09-2012

Re: Will I get approved? Chase Sapphire Preferred

I actually applied for the Freedom first. I wasn't going through process of moving my bank accounts only to be denied a cc.

Valued Contributor
chnceit
Posts: 1,524
Registered: ‎08-17-2008

Re: Will I get approved? Chase Sapphire Preferred

Thanks for making that clear Yankeefan, then you are darn gosh lucky! Congrats!

OP, applying for any CC is a risk. The norm for this particular a CL of $5K is a must and history with a $5 account.

Good Luck & Chnceit!

$100K in Credit
Last Credit Card App: 11/16/13
Senior Contributor
bichonmom
Posts: 3,318
Registered: ‎05-05-2011

Re: Will I get approved? Chase Sapphire Preferred


Yankeefan wrote:

In November of this year I had a CapOne card with a 1k limit and a HSBC card with a 750 limit. I decided I wanted the Chase trifecta and applied for the Freedom card, assuming after 6-12 months of usage I could confidently apply for a CSP. Out of the gate Chase gives me a 6k limit. Now I understand Freedoms underwriting is different than CSP, but Chase still gave me my first >5k limit when my other lines were not close in terms of CL. If its what you want app, Chase seems to have a reasonable recon policy to help out if your denied .


The criteria for freedom and csp are different. While you were approved for Freedom at $6k, you may (likely, IMO) not have been approved for CSP. Also, while it is highly unusual for a cc (other than maybe NFCU or usaa) to give such a high limit with other low CLs reporting, there have been posts here from people who were denied csp only to be approved for freedom or slate. It's always a YMMV situation.

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Senior Contributor
bichonmom
Posts: 3,318
Registered: ‎05-05-2011

Re: Will I get approved? Chase Sapphire Preferred


Razb0yn1k23 wrote:
Thanks for the info. I guess i will apply for an AMEX revolver and build up from there. Maybe the blue cash preferred. What you think? Easy approval?

BCE isn't easy, but I think you have a very good chance. Even if they start with a lower CL, you can get a CLI in a couple of months. 

 

Good luck! :smileyhappy:

 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Valued Contributor
Rhaeny
Posts: 1,507
Registered: ‎07-24-2011

Re: Will I get approved? Chase Sapphire Preferred


Razb0yn1k23 wrote:
Thanks for the info. I guess i will apply for an AMEX revolver and build up from there. Maybe the blue cash preferred. What you think? Easy approval?

Just the opposite of what you said....apply for the charge card first becasue it is the easier one to get, then go for the revolver.  If you go for the revolver first and get denied then you have to wait awhile before applying again.  


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
Established Contributor
Cadillac-XTS
Posts: 1,837
Registered: ‎08-20-2012

Re: Will I get approved? Chase Sapphire Preferred

+1

Valued Contributor
kevinjjc
Posts: 1,301
Registered: ‎01-14-2009

Re: Will I get approved? Chase Sapphire Preferred

How about a PenFed (Pentagon Federal Credit Union) credit card for the OP? They are known to give high limits if you have excellent credit. I think the OP will get approved with his good scores and no/low utilization.

 

PenFed Platinum Rewards Visa Card: https://www.penfed.org/Platinum-Rewards

 

  • 5 points on gas purchases
  • 3 points on supermarket purchases
  • 1 point on all other purchases
  • No foreign transaction fee
  • No annual fee
  • 9.99% APR (variable)

 



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