topic Re: Chase sapphire in Credit Cards

Chase sapphire

Anonymous — Sat, 04 Jul 2015 22:53:04 GMT

What was your credit score when you were approved ? What are some reasons why you would be rejected ?

Re: Chase sapphire

CreditCuriosity — Sat, 04 Jul 2015 23:00:05 GMT

Scores 680-700 should do it for you... You WILL get rejected if you have gotten over 5 cards in the past 2 years. Fairly new policy for Chase w/regards to the Freedom/CSP/slate. Doesn't apply for co-branded cards.

Re: Chase sapphire

joedtx — Sat, 04 Jul 2015 23:21:36 GMT

@CreditCuriousity wrote:
Scores 680-700 should do it for you... You WILL get rejected if you have gotten over 5 cards in the past 2 years. Fairly new policy for Chase w/regards to the Freedom/CSP/slate. Doesn't apply for co-branded cards.

@+1 @ CC

Re: Chase sapphire

Anonymous — Sat, 04 Jul 2015 23:39:52 GMT

I've seen threads where people have said they were rejected due to low income.

Re: Chase sapphire

CreditCuriosity — Sat, 04 Jul 2015 23:42:06 GMT

Yes income can be a factor... DTI and all those things could be a factor.. Guessing 30k would probably be the minimum income requirement? Not so sure about that, others can ring in on that one.. Yes people are denied to income due to CSP has a min CL of 5k.

Re: Chase sapphire

Anonymous — Sat, 04 Jul 2015 23:44:32 GMT

I guess I won't be applying for that one with my 12.5k income

Re: Chase sapphire

CreditCuriosity — Sun, 05 Jul 2015 00:15:50 GMT

@Anonymous wrote:
I guess I won't be applying for that one with my 12.5k income

Ya that would be a decline.. Sorry to be the bearer of bad news.

Re: Chase sapphire

Anonymous — Sun, 05 Jul 2015 00:17:49 GMT

@CreditCuriousity wrote:
@Anonymous wrote:
I guess I won't be applying for that one with my 12.5k income
Ya that would be a decline.. Sorry to be the bearer of bad news.

LOL. No worries. I have enough credit cards for now. Discover IT, Chase Freedom, and AMEX BCP.

Re: Chase sapphire

Anonymous — Sun, 05 Jul 2015 03:07:04 GMT

Hello all, long time lurker first time poster. I did get approved for a 5K CL CSP with a 24k income so sub 30K approvals are within the realm of possibility =). I had 734EX, 726EQ, 719TU at the time.

Re: Chase sapphire

Anonymous — Sun, 05 Jul 2015 03:25:38 GMT

@Anonymous wrote:
Hello all, long time lurker first time poster. I did get approved for a 5K CL CSP with a 24k income so sub 30K approvals are within the realm of possibility =). I had 734EX, 726EQ, 719TU at the time.

Congrats! How long ago was this? And was it the Sapphire or Sapphire Preferred? OP would have to go for the Preferred since the original is no longer available.

Re: Chase sapphire

Anonymous — Sun, 05 Jul 2015 04:01:44 GMT

Thanks =), I was approved March 1st for the Sapphire Preferred. They gave me an auto CLI a week ago to $6500 =). If you use it well Chase rewards your use. Not as much of a CLI as other lenders but I'll take it!

Re: Chase sapphire

Anonymous — Sun, 05 Jul 2015 04:04:39 GMT

a CLI is a CLI, lol

Re: Chase sapphire

CreditCuriosity — Sun, 05 Jul 2015 04:09:01 GMT

Just know someone around 15k give or take income got denied recently due to income and trying to save OP a HP or two for a lost cause. Most likely OP due to income (no offense) wouldn't be able to use the benefits of the card with said income even if approved. Better off with a card like a QS or Citi DC or what not.

Nice knowing a person that makes 24k can get approved as it is another data point and useful info!

Re: Chase sapphire

Anonymous — Sun, 05 Jul 2015 13:38:08 GMT

My score was roughly 720 I believe on the reports they pulled at the time.

But I would strongly advise not to apply if you're making under $25k annually.

Income does seem to be a major reason why some are getting denied, which makes sense to be honest.

A student making $12k is obviously going to charge less to the card than someone making $50k. And Chase wants to make sure you're utilizing it in the long term and not just going to use it for the bonus 40,000 points and then dump it. Thats why it's almost not worth a lot of the time if you're not making at least $25k+, or at least travelling a lot! Because your monthly travel/general spending needs to be pretty high to justify the AF and to still be getting reward points. You don't want the AF to dilute the rewards too much otherwise you may as well just get a card like the Amex EDC.

Other reasons for denials I have seen on here include not having at least $5k in CL's across cards, low scores, baddies on reports (obviously), over 5 accounts opened in 24 months which is an auto denial.

Re: Chase sapphire

vanillabean — Sun, 05 Jul 2015 13:45:41 GMT

@Anonymous wrote:
My score was roughly 720 I believe on the reports they pulled at the time.
But I would strongly advise not to apply if you're making under $25k annually.
Income does seem to be a major reason why some are getting denied, which makes sense to be honest.
A student making $12k is obviously going to charge less to the card than someone making $50k. And Chase wants to make sure you're utilizing it in the long term and not just going to use it for the bonus 40,000 points and then dump it. Thats why it's almost not worth a lot of the time if you're not making at least $25k+, or at least travelling a lot! Because your monthly travel/general spending needs to be pretty high to justify the AF and to still be getting reward points. You don't want the AF to dilute the rewards too much otherwise you may as well just get a card like the Amex EDC.
Other reasons for denials I have seen on here include not having at least $5k in CL's across cards, low scores, baddies on reports (obviously), over 5 accounts opened in 24 months which is an auto denial.

Very true, not to forget the utilization on other cards.

Re: Chase sapphire

Creditworthiness — Thu, 20 Aug 2015 05:35:11 GMT

I think I have the score for this card but am concerned about the 5 cards in 24 months thing. This would be the fifth. Do only credit cards count? Because I also have a year old mortgage . . .

Re: Chase sapphire

takeshi74 — Thu, 20 Aug 2015 12:35:21 GMT

@Anonymous wrote:
What was your credit score when you were approved ? What are some reasons why you would be rejected ?

Keep in mind that it is never just about score. There are many potential reasons -- just as there are with any card.

Re: Chase sapphire

Anonymous — Thu, 20 Aug 2015 13:01:19 GMT

@Anonymous wrote:
My score was roughly 720 I believe on the reports they pulled at the time.
But I would strongly advise not to apply if you're making under $25k annually.
Income does seem to be a major reason why some are getting denied, which makes sense to be honest.
A student making $12k is obviously going to charge less to the card than someone making $50k. And Chase wants to make sure you're utilizing it in the long term and not just going to use it for the bonus 40,000 points and then dump it. Thats why it's almost not worth a lot of the time if you're not making at least $25k+, or at least travelling a lot! Because your monthly travel/general spending needs to be pretty high to justify the AF and to still be getting reward points. You don't want the AF to dilute the rewards too much otherwise you may as well just get a card like the Amex EDC.
Other reasons for denials I have seen on here include not having at least $5k in CL's across cards, low scores, baddies on reports (obviously), over 5 accounts opened in 24 months which is an auto denial.

While for some of us getting it for the bonus and then dumping is legitimate, the other problem with incomes under $25K (and quite a bit higher IMO) is that it might be difficult to meet the $4K spend in three months, at least without financial strain. Then you are left with no bonus and a card that isn't useful because you can't spend enough to get reasonable travel rewards.

Re: Chase sapphire

Anonymous — Wed, 18 Nov 2015 06:02:02 GMT

Hello! Mine was 714 and I was approved for $30,000

Re: Chase sapphire

Anonymous — Wed, 18 Nov 2015 06:03:16 GMT

This was not the case for me, I started builiding my credit in 2015 (immigrant from Denmark) and I had 6 cards when I applied yesterday and was approved for $30,000 could be becouse they looked at income, not sure.