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Established Contributor
ezdoesit
Posts: 706
Registered: ‎03-16-2013

Re: Will I get approved for Chase Sapphire Preferred?

I wonder why everyone likes the freedom and csp combo the best.  Why not the freedom and Marriot rewards premier combo.  You get 70k points after only 1k spend in 3 months compared to 3k in 3 months or 2k in 3months if you apply at a branch.  Which right there gives you like 30k spend advantage.  Also since its a travel card 5x points at any marriot and 2x for travel just like csp.  AF is $85 second year.  Also the card is metal if that is what your looking for.  

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

Re: Will I get approved for Chase Sapphire Preferred?

[ Edited ]

ezdoesit wrote:

I wonder why everyone likes the freedom and csp combo the best.  Why not the freedom and Marriot rewards premier combo.  You get 70k points after only 1k spend in 3 months compared to 3k in 3 months or 2k in 3months if you apply at a branch.  Which right there gives you like 30k spend advantage.  Also since its a travel card 5x points at any marriot and 2x for travel just like csp.  AF is $85 second year.  Also the card is metal if that is what your looking for.  


1:1 POINT TRANSFER WITH NO TRANSFER FEES

To participating frequent travel programs
Transfer points to participating frequent travel programs with no transfer fees and at a full 1:1 value - that means 1,000 Ultimate Rewards points equal 1,000 partner miles/points. Travel programs include British Airways Executive Club, Korean Air SKYPASS, Southwest Airlines Rapid Rewards®, United MileagePlus®, Virgin Atlantic Flying Club, Amtrak Guest Rewards®, Hyatt Gold Passport®, Marriott Rewards®, IHG® Rewards Club and The Ritz-CarltonRewards®.
Established Contributor
Luscher
Posts: 755
Registered: ‎03-24-2013

Re: Will I get approved for Chase Sapphire Preferred?

I look to this card as a future card along with many other cards I see that will fit my needs "in the future". I just wanted to know if you all liked the card, pros and cons, and if i would be approved right now. I have gotten the freedom card and look to make a positive impression to Chase. I am not thinking about applying for this card or any other card for at least 1-2 years. please keep the advice coming. It really is helping. thanks again
Valued Member
mmoon24
Posts: 29
Registered: ‎06-30-2013

Re: Will I get approved for Chase Sapphire Preferred?


Luscher wrote:
I look to this card as a future card along with many other cards I see that will fit my needs "in the future". I just wanted to know if you all liked the card, pros and cons, and if i would be approved right now. I have gotten the freedom card and look to make a positive impression to Chase. I am not thinking about applying for this card or any other card for at least 1-2 years. please keep the advice coming. It really is helping. thanks again

I think there are plenty of cards you can use to combo with CSP. For example, AMEX Blue Sky Preferred is a 75 dollar AF, but gives you a 100 dollar travel credit every year to apply towards things like car rental, seat upgrades, baggage fees, etc. So if you travel once a year, that's a 25 dollar credit you can use if you don't use the card at all.

 

A Marriott or Hyatt card I believe grants you one free night per year. That in itself is once again a 100 dollar value. If you're travelling once a year, this works as well.


With that being said, the CSP is a card you can accumulate points over time, or spend once a year. As long as you're doing better than the 95 AF, and beating the money you'd get back from other travel cards, you should be good.

Current Cards:
AMEX Blue Cash Preferred (5/2013): CL - $9,900
Chase Sapphire Preferred (7/2013): CL - $8,700
Chase Freedom (8/2012): CL - $4,000
Chase Freedom (7/2007): CL - $1,300
Established Member
tk_0014
Posts: 67
Registered: ‎04-19-2013

Re: Will I get approved for Chase Sapphire Preferred?

My highest card when I apped for CSP last month was $3000, and it was only at 3000 for 2 months. (up from 1500 via HP)

 

However, I did have a Freedom since around 2006, with a 1500 CL

 

I apped for Discover IT, and got approved for 5500, which got me thinking that chase would have to approve 5k if stingy Discover did, so ten minutes later, BAM insta-approved for CSP.

 

So the 5k thing is YMMV, You should be more than ok in a year or two with your current cards taken care of. If you are putting everything through your card, making more than minimum payments, multiple payments per statement, never late and good UTL you will be pretty sure to get some nice Auto CLI from both chase and Discover over the next couple years,,

 

Dont discount the members talking about AAOA. Every card you get now, will make your future score much stronger and your file thicker. You will be MUCH better off getting car or real estate loans if you have plenty of history. I would say get an AMEX as soon as possible, because of the backdating. You see, any future cards you get with amex will be automatically dated back to your original card date. This will really insulate your score from hits in 5 to 10 years. You might not really have much use for a wallet full of cards now, but in the future, you just might.

MyFICO (4/13) EQ score 733 CK TU score 6/13 754 FCR EX 4/13 736

CU overdraft protection CL $0/$500 Freedom $0/$1500 CSP $0/5000 BofA 123Cash Reward $700/$3000 C1 plat $0/1250 PP BML $400/$950 Amex BCE $0/$3000 DISC IT: $231/5500
Established Contributor
Luscher
Posts: 755
Registered: ‎03-24-2013

Re: Will I get approved for Chase Sapphire Preferred?

Do you think I would be approved for the AMEX BCE?

Senior Contributor
Irisa
Posts: 4,086
Registered: ‎07-26-2008

Re: Will I get approved for Chase Sapphire Preferred?

Thought I'd share my brother's experience. He is 24 and has the same score as you, all 3 around 740. His income at the moment is only about $23,000. He's had a Freedom for a couple of years and was just denied for CSP. The only reason Chase gave him is "Not enough gross income to qualify for the card." 

 

He was however approved for an Amex BCE with a $2000 CL.

 

Hope that helps.



Current Cards: CSP, Freedom, Amex BCP, Discover It, Citi TYP, Cap One QS, Cap One QS1, BoA Cash Rewards
New Contributor
rustystick
Posts: 55
Registered: ‎02-27-2013

Re: Will I get approved for Chase Sapphire Preferred?

[ Edited ]

OP,

 

many of our points of you getting few more cards is to buffer your AOAA, once you have 4 cards at your current age, getting a new card in 2 years would not shortten your average age as much compared to if you only have 2 cards now. Use it every once a while to keep account open, and it'll help your credit greatly. And plan ahead,  jsut like how you wanted the CSP, there are other no AF cards that you may want. For example, BOA 123 is a great gas card when it's not in a 5% catagory, and BofA deals (sometimes 10%~20% on starbux) are pretty awesome.

 

point is, although apping and getting new cards does damage your credit in a short term, you don't need the flawless 800 score right now, you need it when you want a house, build your buffer early and enjoy later

 

Yes, apply for BCE to get your foot in AMEX, especially before your freedom report, so you won't be rejected for having a new account.

CSP 10k 0 Discover It 7.8k AmazonVisa 3k Freedom 1500 US Bank Cash Rewards 1500 BofA123 3300 SallieMae 3800
Established Contributor
Luscher
Posts: 755
Registered: ‎03-24-2013

Re: Will I get approved for Chase Sapphire Preferred?

[ Edited ]

Im not sure if I want to apply right now for it. Need advice. My car lease is up in April 2014 but I am going to keep the car most likely. I am not sure if they are going to run my credit again so If i have 3 inquiries (discover CLI, freedom app and and amex app if i did it) and a drop in probably 100 points i will get a bad rate.

Established Contributor
scenery_guy
Posts: 951
Registered: ‎07-24-2012

Re: Will I get approved for Chase Sapphire Preferred?


Luscher wrote:

Im not sure if I want to apply right now for it. Need advice. My car lease is up in April 2014 but I am going to keep the car most likely. I am not sure if they are going to run my credit again so If i have 3 inquiries (discover CLI, freedom app and and amex app if i did it) and a drop in probably 100 points i will get a bad rate.


The last time I got worried about having 3 inquiries was  - - - - - - never. Are you kidding me? Three inquiries is great. Don't apply for anything until you have settled on what you are doing with the auto situation. Nothing. No AmEx. No CSP. NOTHING. It can all wait until after you deal with the car. Or you can jump on the crazy train with the rest of us and come off the tracks apping for new cards and points. But that's a huge mistake for you in your current situation. Again use your Discover and Freedom, pay in full, ask for CLI at 6 months. RInse and repeat. 

 

Your score won't drop 100 points for 3 inquiries. 4 or 5 points each for the INQ then a little bit more because of the lower AAoA. 


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