topic Chase Sapphire Preferred/Freedom Approval chances in Credit Card Applications

Chase Sapphire Preferred/Freedom Approval chances

Anonymous — Mon, 11 May 2020 19:17:19 GMT

Hey guys,

I walked into Chase to meet with my private client advisor today. At the end of the meeting she told me I was prequalified for a special signup bonus of 80,000 points for the Sapphire Preferred Card, and the Chase Freedom Unlimited ($300 cash back I think). I told her I would think about it. I'm hestitating doing an in-branch application because I'm only a junior in college and don't have the best credit profile. A few CO's that have been paid in full (I was dumb) really tanked my scores. Now I'm an authorized user on my parents' Amex Centurion and Platinum cards. I have a $4900 BOA secured card as well - the only one where I'm the primary user. Also my FICO score for TU is 640 - not sure about the others. Do you think it'd be worth applying given my circumstances? I'd hate to waste a HP just to get an automatic decline.

Re: Chase Sapphire Preferred/Freedom Approval

Anonymous — Mon, 11 May 2020 19:33:56 GMT

@Anonymous wrote:
... she told me I was prequalified for a special signup bonus of 80,000 points for the Sapphire Preferred Card, and the Chase Freedom Unlimited ...

It's been my experience that in-branch preapproval typically results in approval. Many others have written that this was also their experience. YMMV, of course. Good luck!

Re: Chase Sapphire Preferred/Freedom Approval

Remedios — Mon, 11 May 2020 19:19:27 GMT

@Anonymous hi and welcome to the forums

I've slightly edited title of your thread so it doesnt cause a confusion, as you havent been approved yet.

Re: Chase Sapphire Preferred/Freedom Approval chances

Anonymous — Mon, 11 May 2020 19:29:43 GMT

I think you should definitely apply.

Re: Chase Sapphire Preferred/Freedom Approval chances

coldfusion — Mon, 11 May 2020 20:08:40 GMT

In-branch prequalifications aren't a 100% guarantee but they're as solid as they come with Chase. If there hasn't been a significant change in your profile over the last couple of months, you seriously want one of these cards, and if you're in a position to collect the related SUB IMO you should consider going back and applying in-branch.

There are a lot worse things in life than to burn a single HP. Your Private Client status won't hurt either.

Re: Chase Sapphire Preferred/Freedom Approval chances

Anonymous — Mon, 11 May 2020 20:26:32 GMT

Which one would you go for in my position? Is the CSP harder to acquire?

Re: Chase Sapphire Preferred/Freedom Approval chances

coldfusion — Mon, 11 May 2020 21:02:46 GMT

@Anonymous wrote:
Which one would you go for in my position? Is the CSP harder to acquire?

The CSP has a mininum $5K SL so is inherently harder to acquire.

What value would you get from the CSP beyond that from a Freedom? You mentioned you're already a AU on your father's Centurion.
How much would you be able to take advantage of the Freedom 5% quarterly bonus?

Can you meet the spend threshold organically (i.e. just by your everyday spend) to collect the CSP's SUB?

If I were you I would go for the Freedom and work to establish a stronger profile before going for a CSP, but that's me.

Re: Chase Sapphire Preferred/Freedom Approval chances

TSlop — Wed, 13 May 2020 15:35:41 GMT

Nice increased SUBs on these.... I hope I get targeted someday for a $300 CFU! Personally, if I had the in-branch approval, I'd go back and try it out.

Re: Chase Sapphire Preferred/Freedom Approval chances

Remedios — Wed, 13 May 2020 16:51:29 GMT

@Anonymous wrote:
Which one would you go for in my position? Is the CSP harder to acquire?

How hard is it to get a card is irrelevant.

Apply for the one you have use for.

Re: Chase Sapphire Preferred/Freedom Approval

CYBERSAM — Wed, 13 May 2020 17:02:49 GMT

I would go for Sapphire Preferred Card and if they say no, then you can try Chase Freedom Unlimited. They not going to pull 2 HPs

Good luck.

Re: Chase Sapphire Preferred/Freedom Approval chances

M_Smart007 — Sat, 16 May 2020 00:19:57 GMT

@Anonymous wrote:
Hey guys,

I walked into Chase to meet with my private client advisor today. At the end of the meeting she told me I was prequalified for a special signup bonus of 80,000 points for the Sapphire Preferred Card, and the Chase Freedom Unlimited ($300 cash back I think). I told her I would think about it. I'm hestitating doing an in-branch application because I'm only a junior in college and don't have the best credit profile. A few CO's that have been paid in full (I was dumb) really tanked my scores. Now I'm an authorized user on my parents' Amex Centurion and Platinum cards. I have a $4900 BOA secured card as well - the only one where I'm the primary user. Also my FICO score for TU is 640 - not sure about the others. Do you think it'd be worth applying given my circumstances? I'd hate to waste a HP just to get an automatic decline.

Congrats on both your Chase approvals

Re: Chase Sapphire Preferred/Freedom Approval chances

AllZero — Sat, 16 May 2020 00:21:12 GMT

Congratulations on your approvals!

IBTL

Re: Chase Sapphire Preferred/Freedom Approval chances

gdale6 — Sat, 16 May 2020 02:17:58 GMT

As OP has created an approval thread this one is now closed to further comment.

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Chase-Sapphire-Preferred-Chase-Freedom-Unlimited-Approval/m-p/6022007