topic Re: Chase sapphire preferred approval odds in Credit Card Applications

Chase sapphire preferred approval odds

Anonymous — Thu, 19 Sep 2019 00:16:45 GMT

I'd love to get the CSP but not sure if I'll get approved. Here are some DPs:

AoOA 13 years
AAoA 6.5 years
AoYA 5 months
EQ fico 8 711 EX 708 TU 731
BC enhanced EQ 730 EX 733 TU 739

I have a CO card account that is paid and 6.5 years old and a CO unsecured loan from NF 6.5 years old that is paid. I did a pay for delete on the CC but it hasnt came off my reports yet. I have old CC that are reporting 100% pay history 7-10 years ago. Then the charged off account then nothing until 7 months ago for CCs. Currently sitting at AZEO with 2% util. Have 3 cards. 1 7 months old and 2 5 months old. I have a 7 month old auto loan a 0% interest for 1 year that is at $600 left of 3800 and a 2 year old loan that is at 24% left (furniture loan I got just to start my credit rebuild).

I know chase pulls EX and TU. I know my scores are in range but I'm afraid the old CO and the length of recent credit might scare em off. However I've read that chase likes thin files and maybe mine might fit their liking. What yall think?

Re: Chase sapphire preferred approval odds

Anonymous — Thu, 19 Sep 2019 00:24:40 GMT

I should also mention I have a 6 figure income and travel quite a lot for work. Which is why I really want it. Plus I'm about to go to florida for a couple months next month. So it would be nice to get those travel points.

Re: Chase sapphire preferred approval odds

Anonymous — Thu, 19 Sep 2019 01:10:01 GMT

Good evening @LDennis,

I wish I could give you a definite answer but I cannot. There are many experts here who will guide you but IMO, you probably won't know until you apply.

What I can tell you is I just got back in with Chase CC's in the early summer and a little over two weeks ago was also approved for the CSP. I kept checking for prequals and in branch approvals at Chase for the CSP but to no avail. I ended up pulling the trigger online and was eventually approved.

Now with that being said, I did already have a Chase auto loan, but I knew my Chase internal score from my CFU card I received in June. My recommendation would be to sign up for Chase Credit Journey and see if you have any offers.

Thats all I have for you but you are in the right place as the experts who guided me and helped me will surely chime in.

Best of luck in your pursuit of CSP!!

Re: Chase sapphire preferred approval odds

Anonymous — Thu, 19 Sep 2019 01:17:56 GMT

Wow, I see they gave you a nice SL as well. Congrats! I do have a 4 month old checking and savings account there and have checked prequals with nothing showing. I only have my VA benefits deposited there and my income deposited at my old bank. I just opened the account to hopefully build a relationship with them if that helps at all. Doubtful knowing chase.

Re: Chase sapphire preferred approval odds

Anonymous — Thu, 19 Sep 2019 01:30:03 GMT

OP, what are the limits of your current (3) cards?

I believe the CSP minimum approval SL is $5000, so where your current limits stand could play a role in approval.

Re: Chase sapphire preferred approval odds

Anonymous — Thu, 19 Sep 2019 01:32:17 GMT

Not the greatest. $1200, $500, and $300. I am an AU on a $2500 citi card, but for whatever reason it only shows on Equifax.

Re: Chase sapphire preferred approval odds

Anonymous — Thu, 19 Sep 2019 01:35:11 GMT

I'd be a bit cautious about apping personally, as the CSP would have to yield a SL of at least 2X what you've currently got. They could take a chance with you, but could just as easily pass.

In terms of odds, I'd say 50/50.

Re: Chase sapphire preferred approval odds

SEAlifer — Thu, 19 Sep 2019 02:17:46 GMT

@Anonymous wrote:
I'd be a bit cautious about apping personally, as the CSP would have to yield a SL of at least 2X what you've currently got. They could take a chance with you, but could just as easily pass.

In terms of odds, I'd say 50/50.

+1 - Your scores aren't bad but you have taken out recent credit. The perfect profile is like $10K total credit under your belt with no new credit for a year for that or the CSR, I believe. But CSP supposedly has slightly lower standards than the CSR so you might get it? Def not a sure thing, though.

Re: Chase sapphire preferred approval odds

Anonymous — Thu, 19 Sep 2019 02:22:52 GMT

Does it help at all that I had credit cards in the past over 10k limit? They were paid and closed by me. Or would they only look at what is currently active?

Re: Chase sapphire preferred approval odds

addicted_to_credit — Thu, 19 Sep 2019 02:28:04 GMT

I had lower scores and 2 collections a 30 day late a couple of negative remarks on accounts all 6-6.5 years old and was approved, personally I think you have a shot I just don’t know how good of one you may have.

Is there any harm in waiting another 6 months so more baddies can age off? That would definitely improve your chances I would think....

Re: Chase sapphire preferred approval odds

Anonymous — Thu, 19 Sep 2019 02:33:06 GMT

No real harm except I am going on this trip and will easily get the $4000 spend for the rewards. I'd probably get it anyway, but this just makes it more simple.

Re: Chase sapphire preferred approval odds

Anonymous — Thu, 19 Sep 2019 02:42:49 GMT

Also I'd like to get the discover and possibly penfed card in the next few months. That would leave me a year and a half before I could even consider the CSP. And I'd rather not wait the year and a half.

Re: Chase sapphire preferred approval odds

AllZero — Thu, 19 Sep 2019 02:57:09 GMT

Have you attempted in branch? Speak with a banker to see if you have any pre-approvals that doesn't show on your online portal.

Re: Chase sapphire preferred approval odds

Anonymous — Thu, 19 Sep 2019 02:59:52 GMT

I did not know that was an option. I will definitely do that. Thank you!

Re: Chase sapphire preferred approval odds

AllZero — Thu, 19 Sep 2019 03:10:16 GMT

If no prequals, I would not recommend applying. Best to age your current open CC accounts.

Re: Chase sapphire preferred approval odds

Anonymous — Thu, 19 Sep 2019 03:27:30 GMT

@Anonymous wrote:
Does it help at all that I had credit cards in the past over 10k limit? They were paid and closed by me. Or would they only look at what is currently active?

Old closed accounts may be considered, but no way of knowing for sure. What you have open currently definitely carries the most weight, though.

Re: Chase sapphire preferred approval odds

Anonymous — Thu, 19 Sep 2019 03:28:29 GMT

@addicted_to_credit wrote:
I had lower scores and 2 collections a 30 day late a couple of negative remarks on accounts all 6-6.5 years old and was approved, personally I think you have a shot I just don’t know how good of one you may have.

But were all of your current CLs at the time in the $300-$2500 range when you applied?

Re: Chase sapphire preferred approval odds

addicted_to_credit — Thu, 19 Sep 2019 06:57:11 GMT

@brutalbodyshots 12.5k was my highest (AU) I also ran 18-19k through another chase card that I’m an AU in a very short amount of time with a 5.4k limit. I have seen mixed reviews on weather or not chase considers AU accounts so that may or may not have played into my approval and CL. Either way I feel like chase jumped out there for me with the 18.7k SL, I don’t see myself getting a CLI anytime soon either, I try to keep it @ 10% or less of the limit.

Re: Chase sapphire preferred approval odds

Anonymous — Thu, 03 Oct 2019 04:21:26 GMT

Ok, here is a little update as I get anxious to take the plunge. I had a paid collection that had yet to fall off when I had my last scores. So now I'm currently at EX BC enhanced at 745 and TU at 771. The charged off bank card has still yet to come off, but I was told it should be any day now. I'm assuming my TU will end up over 800 (it will be completely blemish free) and EX will still have the paid NFCU CO that is 6.5 years old.

I guess at this point I'm wondering if they look more at the score or will they weigh that paid CO heavily against me. I'm certain off of scores and age of history alone would qualify me. But again, how heavily will they weigh the paid CO?

This forum has literally helped me get my scores from mid 500s to where it is today. I cant thank y'all enough!

Re: Chase sapphire preferred approval odds

addicted_to_credit — Thu, 03 Oct 2019 04:51:57 GMT

It’s hard to say which CB they’ll pull and for me it was a double pull for the CSP (EQ & EX) and when I went for the CFU it was TU & EQ. Either way my scores were a bit lower I believe and I had an unpaid 6 year old collection and was still approved for 18.7k as I’ve mentioned up thread. If you can wait till the CB’s update I’d do that, if nothing but for better approval odds and/or better SL/interest rate potentially even though I think you’ll be fine. I hope to see you got approved, the CSP is a fantastic card IMHO.