Will I qualify for Chase Sapphire Preferred?

[revvystoke]

---

@espnjunkie wrote:

I would be careful about including "scholarship" money as income. Unless you are free to spend it and it is liquid enough for you to pay you cc bills with then you shouldn't consider that as income in my opinion. Rule of thumb is that it is best to be honest with yourself and the lender about your ability to repay debts. This is for both your own protection and theirs. This is by no means an inditement of the OP, but far more disasters have happen because of getting too much credit and not being able to support it than responsible use of credit. 

---

Not necessarily, scholarships that are paid out to the student are considered taxable income.

Normally College student and credit card don't go together in the same sentence well, but from the initial posts, OP seems to know the ins and outs of the card, its completely up to them, so go for it and let us know how it turns out. Just remember, if that card doesn't suit you well 11 months from now, the regular sapphire card is just as good.

[longtime_lurker]

---

@revvystoke wrote:

---

@espnjunkie wrote:

I would be careful about including "scholarship" money as income. Unless you are free to spend it and it is liquid enough for you to pay you cc bills with then you shouldn't consider that as income in my opinion. Rule of thumb is that it is best to be honest with yourself and the lender about your ability to repay debts. This is for both your own protection and theirs. This is by no means an inditement of the OP, but far more disasters have happen because of getting too much credit and not being able to support it than responsible use of credit. 

---

Not necessarily, scholarships that are paid out to the student are considered taxable income.

Normally College student and credit card don't go together in the same sentence well, but from the initial posts, OP seems to know the ins and outs of the card, its completely up to them, so go for it and let us know how it turns out. Just remember, if that card doesn't suit you well 11 months from now, the regular sapphire card is just as good.

---

+1

[sdmelzer]

**Update**

Thanks for the help guys. FYI I was instantly approved for $6,000 CL. 

[FocusedAndDetermined]

---

@sdmelzer wrote:

**Update**

Thanks for the help guys. FYI I was instantly approved for $6,000 CL. 

---

Congrats!!

[Networth]

Congrats but I think you should do some quick math to see if it really makes sense to pay that AF till your out of school: it won't be waived after the first year.

Edit: cleaned it up a little, --CareBear

[indiolatino61]

---

@sdmelzer wrote:

Hello all, just a quick question about my qualifications.

I am currently a grad student in a program that does not allow work (part or full time) during the first year. Thus, I have no work income. I do have good credit history though. I currently hold 4 Visa credit cards, always paid off, no balances, with credit lines of approximately 2k each. 

I do also have a history with Chase, and have been a Freedom cardholder for about 2 years. It is my primary card, and it has a limit of 4k. What are the chances of Chase approving me for a Sapphire Preferred given that my income is mainly a mix of scholarship and government loan money until summer internships kick in?

---

Welcome to myFICO and the best of luck to you.