topic Chase Sapphire Preferred Approval in Credit Card Approvals

Chase Sapphire Preferred Approval

Sneakytiki — Thu, 12 Apr 2018 14:31:49 GMT

Since data points are limited at my scores I figured I would post. Applied when I shouldn't have but my wife was having great luck, I only had 4 INQ and figured it was worth a shot.

This was a cold app.

Data Points:

15/16 months since late.

1 Charge Off, Paid, This will be getting removed soon it looks like

90 Day late from 2013/14 (Military Star)

3 30 Day Lates and 2 60 Day Lates from 2016. Synchrony is removing, fingers crossed on the others (BoA, Citi, Cap1, Barclays).

0 Balance on all cards except Military Star which was at 29% and Barclays @ 10%

Revolving UTIL 3%

4 Inquiries

They Pulled Experian Only @ 686 FICO 08

6 New Accounts (Only 4 are Credit)

AAoA Just over 5 Years

Some Accounts 1 Month Old

Oldest Account Just over 14 Years

Income 85K

1 Mortgage, Never Late, 1 transferred mortgage never late

2 Auto Leases, Never Late, 2 Paid Auto Loans, never late

4 Student Loans, Never Late, 115%-120% Balance, these are in "In School Deferment"

Credit Accounts Below are Active, Most at 0 balance. NFCU has not reported yet, AMEX just starting to report. Hopefully they don't spook Chase.

Total Debt @ 250K

Instant Approval $8,000 SL @ 24.49% APR.

I do not think I am out of the woods yet and I will update as this process continues and I pump money through the card. We already got our promo offers on our other cards so it should be easier to do now. I did set up autopay from a checking account and set up their fraud/account protection features.

I do not know how often they will soft pull, spending limits etc. but we do plan on paying off the balances before statement and starting slow with a few direct purchases before pumping bills and online purchases through them. I have even seen recommendations on weekly payments. We pumped a ton through our AMEX the first month and got the credit within a few weeks of getting the card and we paid off the card every week.

We'll see what happens. I wanted a 5% utility card but we will be gardening until student loans can be consolidated and refinanced. Auto lease due for renewal in 18-24 months depending on when they start calling and a home refi or new house search may be on the horizon in a couple years.

Re: Chase Sapphire Preferred Approval

Anonymous — Thu, 12 Apr 2018 14:23:19 GMT

Nice job! That card is on my radar. Since I’m over 5/24 I’ll have to walk into a branch and apply or just wait 18 months or so.

Re: Chase Sapphire Preferred Approval

Anonymous — Thu, 12 Apr 2018 14:44:32 GMT

Congrats

I'm surprised with your late payments and charge off that you were able to get approved

Re: Chase Sapphire Preferred Approval

simplynoir — Thu, 12 Apr 2018 14:46:28 GMT

Congrats on your approval!

Re: Chase Sapphire Preferred Approval

Sneakytiki — Thu, 12 Apr 2018 14:47:00 GMT

So was I, was going to app late summer for a trip around the holidays but we could really use the benefits for a trip this summer and thought I would try.

Re: Chase Sapphire Preferred Approval

Anonymous — Thu, 12 Apr 2018 16:05:41 GMT

Great data points! I love my CSP, it's by far my favorite card. And the customer service has been great too.

Re: Chase Sapphire Preferred Approval

BronzeTrader — Thu, 12 Apr 2018 16:08:03 GMT

Congrats.

Re: Chase Sapphire Preferred Approval

Anonymous — Thu, 12 Apr 2018 16:32:09 GMT

Congrats on your approval!!

Re: Chase Sapphire Preferred Approval

Anonymous — Mon, 16 Apr 2018 14:25:41 GMT

Wow, congrats this is my white elephant card right now. Will need a year or two for rest of my baddies to fall off before I risk it thought.

Re: Chase Sapphire Preferred Approval

Anonymous — Fri, 13 Apr 2018 14:03:53 GMT

Congrats! I really like my CSP and Freedom. I’ll be looking to get the FU in about 20 months when I’m back under 5/24. Enjoy your new card and credit, spend wisely and continue to make your credit work for you rather than working for your credit!

Re: Chase Sapphire Preferred Approval

Sneakytiki — Mon, 16 Apr 2018 20:07:07 GMT

Got the card today! It took them 6 days to send the card.

Chase Card Acquisition Risk Score V2 - 677

EXPERIAN FICO 08 at the time was - 686

Re: Chase Sapphire Preferred Approval

Anonymous — Tue, 17 Apr 2018 02:16:34 GMT

Love the detailed data points. Congrats!!