topic Re: Chase sapphire preffered? in Credit Card Applications

Chase sapphire preffered?

Anonymous — Fri, 26 Feb 2016 17:07:32 GMT

Credit Karma tells me "very good" approval odds but shows "fair" for the freedom card? I'm a little skeptical that this is some type of marketing gimmick and I'm almost sure I won't bet approved for the sapphire preffered. Any suggestions?

CCT Scores FICO 8:

Experian - 663 w/ 10 Inq's (only 4 are CC's)

TransUnion - 622 w/ 3 Inq's (only 1 is CC)

Equifax - 657 w/ 5 Inq's (only 1 is CC)

Current credit cards:

CapOne Platinum just recently upgrade to QS. One year old - no missed payments $4k limit.

Discover It - $750 limit - 3 years old no missed payments.

What are some other good options for me if the Chase card isn't a good app? I feel like I should have another one or two.

Thanks

Re: Chase sapphire preffered?

Anonymous — Fri, 26 Feb 2016 17:36:14 GMT

From looking at other people who were approved for CSP, I think your scores need to get a little closer to 700ish (Chase seems to usually pull Experian), and they might need to see you with another card with a 5k limit before they will issue CSP because it has a minimum 5k limit.

Re: Chase sapphire preffered?

Anonymous — Fri, 26 Feb 2016 17:48:16 GMT

Any other cards I should try for? Amex? I was preapproved for the green charge card but I'm not interested in that.

Also Discover simply won't give me a CLI, even after 3 years of perfect payment history. It's BS.

Re: Chase sapphire preffered?

Anonymous — Fri, 26 Feb 2016 18:43:53 GMT

Sure - suggestions would be based on what kind of cards you are after though. CSP is a great travel card, so maybe a different travel card? I know people really love the Barclay's Arrival+, CapitalOne Venture, and BofA travel rewards cards.

Re: Chase sapphire preffered?

Anonymous — Fri, 26 Feb 2016 20:26:58 GMT

my only worry is most of those travel cards will likely want higher scores. barclay is a TU puller and 622 isn't going to get an arrival

Re: Chase sapphire preffered?

Anonymous — Fri, 26 Feb 2016 21:34:38 GMT

When I called Cap1 yesterday to upgrade my Platinum to the QS, they also told me I was eligible for the Venture as well. Should I get that as a second Cap1 card? I don't really need a "travel" card. Just looking for another credit card with decent cash back / rewards that will thicken my profile. Ultimately it would be nice to establish a relationship with the lender and upgrade to a better card down the line. Maybe the Freedom card? Or one of the Amex every days?

Re: Chase sapphire preffered?

Anonymous — Fri, 26 Feb 2016 21:36:16 GMT

you probably aren't ready for an amex ED. and you need to determine what you want in a card specifically before you start applying.

Re: Chase sapphire preffered?

Anonymous — Fri, 26 Feb 2016 23:50:08 GMT

Credit Karma also shows me very good approval odds for the CSP. I can absolutely guarantee that I would get denied if I apped.

Re: Chase sapphire preffered?

Anonymous — Sat, 27 Feb 2016 01:26:46 GMT

I could be wrong, but I am pretty sure the cards that show up more often/at the top of every list are the ones that are being paid to be there.

Pretty sure I even remember reading some small print on their website stating so.

I would imagine if this is the case then they could easily raise your chances from a 'most likely a denial' to a 'good' chance if they are going to get more $$$ out of it.

After all, if they state in the fineprint that even a 'great chance' could result in a denial, they have themselves covered.

Back to the original question, as others have already stated, I would wait until your scores are hovering around the 700 mark before applying.

Chase also likes to see that you have a card with at least a $5k limit and also decent income as this card is intended for people who travel and spend a fair amount yearly.

As for other products, it depends on your spend, if you travel; and who you would travel with.

Without knowing too much about your spending habits I would recommend the Citi DC or the Venture card as these cards both offer good rewards for general spending.

If you update us with your spending habits we might be able to give you better suited recommendations.

Re: Chase sapphire preffered?

Anonymous — Sat, 27 Feb 2016 03:25:31 GMT

I just got approved today, also freedom was approved at same time. 1 year credit history. Ex 699 TU 692. I only have 2 CC , discover student,1300CL and credit one, 600CL.

Re: Chase sapphire preffered?

Anonymous — Sat, 27 Feb 2016 13:44:50 GMT

@ OP

Did Discover state a reason of not increasing your credit line?

Re: Chase sapphire preffered?

lg8302ch — Sat, 27 Feb 2016 14:09:58 GMT

@Anonymous wrote:
Credit Karma tells me "very good" approval odds but shows "fair" for the freedom card? I'm a little skeptical that this is some type of marketing gimmick and I'm almost sure I won't bet approved for the sapphire preffered. Any suggestions?

CCT Scores FICO 8:

Experian - 663 w/ 10 Inq's (only 4 are CC's)
TransUnion - 622 w/ 3 Inq's (only 1 is CC)
Equifax - 657 w/ 5 Inq's (only 1 is CC)

Current credit cards:

CapOne Platinum just recently upgrade to QS. One year old - no missed payments $4k limit.

Discover It - $750 limit - 3 years old no missed payments.

What are some other good options for me if the Chase card isn't a good app? I feel like I should have another one or two.

Thanks

I hate to say but CreditKarma is paid advertising and if you would apply for CSP I would expect a denial ..sorry.

Have you tried the Chase pre-approvals? If Freedom comes up as pre-approved then go ahead with Freedom but if not then I would wait with Chase until you get your scores a bit higher (closer to 700) If you do not travel and would like to use cash back then CSP would be a complete waste and not worth to pay the AF. In the meantime try to work on SP CLIs with Cap1 and Discover to work towards 5K limit and getting your scores up. You may consider Citi Double cash or Fidelity Rewards Visa later on for general 2% cash back.

Re: Chase sapphire preffered?

Anonymous — Sun, 28 Feb 2016 05:15:35 GMT

Just as a data point, you don't need another card with a 5k + limit for the CSP. I apped for mine with a score in the mid-high sixes - only cards reporting at that time were a 2500 CapOne and a 2k Amex. I pulled my Venture and Discover maybe a week before my CSP, but they weren't reporting yet.

Re: Chase sapphire preffered?

Anonymous — Sun, 28 Feb 2016 05:16:28 GMT

Although to note - the CSP was showing for me on the Chase prequalifier.

Re: Chase sapphire preffered?

myjourney — Sun, 28 Feb 2016 05:42:10 GMT

Attached to every recommendation by CK in the top right corner you'll find this

† We look at how your credit profile compares to other Credit Karma members who were approved for this product. Of course, there’s no such thing as a sure thing, but knowing whether your Approval Odds are Very Good, Good, Fair or Poor may help you narrow down your choices.

‡ Average score refers to the arithmetic mean, typical low score to the 5th percentile and typical high score to the 95th percentile of, in each case, available VantageScore 3.0 credit scores provided by TransUnion of Credit Karma members who were approved for this product from August 2015 through January 2016. Average and typical approved scores are provided as guidelines only and approval is not guaranteed. You can learn more about credit card approval through our in-depth article.

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