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Frequent Contributor
Posts: 340
Registered: ‎07-27-2011
0

Re: Will I get approved? Chase Sapphire Preferred

Based on your info, score, and somewhat history, I think you have about a 90% chance of getting approved for the CSP.......  I'd say go for it.


Starting Score: 521 TU, 597 EQ, 574 EX on 6/20/2011
Current Score: 753 TU, 764 EQ, 766 EX on 02/17/2014
Goal Score: 720-740 Across the board


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Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
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Re: Will I get approved? Chase Sapphire Preferred

I have $3100 in avail credit (about the same as you) and was double denied for the Chase Sapphire. But my scores are 702/703 fico. They told me no because I don't have a $5000 credit line. Please let us know how it turns out for you with higher scores. Curious how Chase works.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Regular Contributor
Posts: 220
Registered: ‎08-10-2012
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Re: Will I get approved? Chase Sapphire Preferred

Decline. You need to have cards that have limits of $5,000 or more which is the minimum of CSP

Citi Thank You Premier Visa Signature-$9K, Citi Thank You Preferred Vis Signature-$8.3K, Citi AA Signature- 8.5K, Citi Simplicity 9.2K, Citi Diamond-6.1K, Lowes-$10K, Chase Sapphire Preferred- $ 5K, AMEX BCE $14.5K, AMEX Starwood Preferred $15K, ,AMEX Everyday-$5K, Fidelity Amex-$10K, US Bank 123 rewards Kroger-$17K, Penfed Platinum Rewards Visa Signature-$30K, Amex Delta-$10K, Barclay Arrival Plus- $10K, Penfed Travel Rewards Amex-$10K, Bank of America Cash Rewards- $14K
Established Contributor
Posts: 554
Registered: ‎09-28-2012
0

Re: Will I get approved? Chase Sapphire Preferred

I would say decline. Low limits



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


Established Contributor
Posts: 599
Registered: ‎03-10-2012
0

Re: Will I get approved? Chase Sapphire Preferred

hmmm im 50/50 on if you should apply or not. You definitely have the income, scores, and history to get approved under normal circumstances. What is abnormal is the credit lines...While i personally think you'd have a pretty good shot on recon of getting it...I can see how they might still deny you with a total of 3K across 4 cards.

 

Regardless of what many are saying on this thread, it is definitely not a requirement to have experience with a 5K or higher line to get the CSP. It may cause them to look twice if your history is very short or you don't have a 700+ score or you have very low income. Quite a few people around here get approved for it and post here that they're shocked because "i didn't have a single 5K line omg!"

 

That said, the fact that your lines are SO low at the moment could work against you. I think if you had just a couple lines at even 2.5K you could maybe even get instant approved considering the rest of your qualifications. Might be time for you to ask the capital one executive office for a CLI.

EQ-736(08/14) TU-752(09/14)
Newest to Oldest
Barc Sallie Mae 6K | Citi TY Pref 4.5K | US Bank Cash+ 10K | Chase Freedom 11.7K | Disc It 10.5K | Amazon Store 2.5K | BOA Cash Rewards 10.5K |

Closed Cards: 4 Oldest: 3yrs AAOA: 2yrs
Established Contributor
Posts: 869
Registered: ‎07-04-2012
0

Re: Will I get approved? Chase Sapphire Preferred

I find it very hard to get approved with limits of -1K you present. I would say the best option is for you to take the same path I took.

 

Either go amex charge + bcp if approved, get a GE card that can grow very quickly or call CapOne Executive Office.

 

In 2-4 months, depending on the way you choose to improve the situation, you will have a CL of 3-6K that can look better in their eyes.

 

Fico Scores: . Walmart TU 748 . Garden 8/19 2014 .

Cap One Journey 500 | Discover IT 500 | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCE 6k | Citi Forward 4.2k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 8.5k | Discover Walmart 7.5k | Barclays Apple 2.5k | BoA CR 2.7k | CSP 7.2k | Platinum Prestige 5k | IT Chrome 4k | Slate 2.3k |
Community Leader
Valued Contributor
Posts: 1,408
Registered: ‎07-12-2011
0

Re: Will I get approved? Chase Sapphire Preferred


YahComb wrote:

hmmm im 50/50 on if you should apply or not. You definitely have the income, scores, and history to get approved under normal circumstances. What is abnormal is the credit lines...While i personally think you'd have a pretty good shot on recon of getting it...I can see how they might still deny you with a total of 3K across 4 cards.

 

Regardless of what many are saying on this thread, it is definitely not a requirement to have experience with a 5K or higher line to get the CSP. It may cause them to look twice if your history is very short or you don't have a 700+ score or you have very low income. Quite a few people around here get approved for it and post here that they're shocked because "i didn't have a single 5K line omg!"

 

That said, the fact that your lines are SO low at the moment could work against you. I think if you had just a couple lines at even 2.5K you could maybe even get instant approved considering the rest of your qualifications. Might be time for you to ask the capital one executive office for a CLI.


+1

i think that if you had total credit lines of at least 5K across all cards you would probably be approved because of you scores- AAoA and income.  it is not unheard of to be approved for this card without 5K experience but your over-all credit profile with revolvers is weak.  I'm leaning more toward declined right now.  You have a great shot at a high limit Freedom and I suggest the Amex PRG for a travel card right now.  Your profile could use a few more CCs with decent limits.  My recommendation:  app Freedom- Amex PRG and Amex BCE/BCP.  I think you are a good candidate for approval for all if the information you provided is accurate. JMO. Smiley Happy


Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSP 20.5K, TotalRewards 20.5K, QuickSilver 20K

Valued Contributor
Posts: 1,419
Registered: ‎01-14-2009
0

Re: Will I get approved? Chase Sapphire Preferred


kevinjjc wrote:

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)

 



I strongly urge OP to consider PenFed. His scores and utilization are good, and he doesn't have a lot of credit cards right now, so they won't deny him for "Pyramiding Debt".

Valued Contributor
Posts: 1,419
Registered: ‎01-14-2009
0

Re: Will I get approved? Chase Sapphire Preferred

Just as a data point, I have 2 PenFed credit cards with credit limits totaling 50,000.

Member
Posts: 19
Registered: ‎12-30-2012
0

Re: Will I get approved? Chase Sapphire Preferred

[ Edited ]

Just an update.. I just applied for AMEX  Blue Cash Preferred and got his message.

 

"Your application will be processed as soon as possible, and we will notify you of the decision by mail within 14 days"

 

 

Did I get declined?

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