topic Re: Chase Sapphire Reserve in Credit Cards

Chase Sapphire Reserve

shirleyland — Sat, 04 Feb 2017 07:45:08 GMT

So I go into a local Chase branch on yesterday and apply. I get the dreaded 7-10 message. My only concern was the 5/24 rule, my scores are Excellent. (800+)
This evening, I decided to call to F/U on the status. First Rep states " still pending" but transferred to the lending dept because of a address change question. Once transfer to lending dept, the lending specialist states, my application was denied because of the 5/24 policy that Chase has in place. She stated she couldn't overturn the decision despite excellent credit history. Ok, I get it! But she goes on to say, I could get the card by doing a " Product changes and allocating funds from my other cards. Why would I want to do this? I would not get the bonus points ( 100,000)
Has anyone gotten pass this other than getting pre qualified at the bank? I was told by the Chase banker that they are not pre qualifying at the branches anymore.

Should I call back and speak to someone else in the recon dept?

Re: Chase Sapphire Reserve

Anonymous — Sat, 04 Feb 2017 09:06:42 GMT

I don't believe they will budge but sorry to hear and good luck with this. I am looking forward to one day being in the 800 club...

Re: Chase Sapphire Reserve

Anonymous — Sat, 04 Feb 2017 09:30:56 GMT

Being in the 800 club is great. I know I can pretty much get anything I want credit wise

Other than CPC or in branch pre qual, you're not going to get past the 5/24 rule.

Re: Chase Sapphire Reserve

Anonymous — Sat, 04 Feb 2017 12:52:06 GMT

@shirleyland wrote:
So I go into a local Chase branch on yesterday and apply. I get the dreaded 7-10 message. My only concern was the 5/24 rule, my scores are Excellent. (800+)
This evening, I decided to call to F/U on the status. First Rep states " still pending" but transferred to the lending dept because of a address change question. Once transfer to lending dept, the lending specialist states, my application was denied because of the 5/24 policy that Chase has in place. She stated she couldn't overturn the decision despite excellent credit history. Ok, I get it! But she goes on to say, I could get the card by doing a " Product changes and allocating funds from my other cards. Why would I want to do this? I would not get the bonus points ( 100,000)
Has anyone gotten pass this other than getting pre qualified at the bank? I was told by the Chase banker that they are not pre qualifying at the branches anymore.

Should I call back and speak to someone else in the recon dept?

I'm guessing you tried the Chase pre-qual site before you went to the branch it was a no-go?

Re: Chase Sapphire Reserve

newhis — Sat, 04 Feb 2017 12:59:16 GMT

Sorry to hear. They put the 5/24, there were ways to get approved but now they closed those options. You will not get the card and the bonus, the only way is to PC a card to it or wait for 4/24 and apply again.

Re: Chase Sapphire Reserve

Anonymous — Sat, 04 Feb 2017 14:07:27 GMT

@Anonymous wrote:
@shirleyland wrote:
So I go into a local Chase branch on yesterday and apply. I get the dreaded 7-10 message. My only concern was the 5/24 rule, my scores are Excellent. (800+)
This evening, I decided to call to F/U on the status. First Rep states " still pending" but transferred to the lending dept because of a address change question. Once transfer to lending dept, the lending specialist states, my application was denied because of the 5/24 policy that Chase has in place. She stated she couldn't overturn the decision despite excellent credit history. Ok, I get it! But she goes on to say, I could get the card by doing a " Product changes and allocating funds from my other cards. Why would I want to do this? I would not get the bonus points ( 100,000)
Has anyone gotten pass this other than getting pre qualified at the bank? I was told by the Chase banker that they are not pre qualifying at the branches anymore.

Should I call back and speak to someone else in the recon dept?
I'm guessing you tried the Chase pre-qual site before you went to the branch it was a no-go?

The Chase preapproval site does not show the CSR at all. Only the CSP, Freedom, Freedom Unlimited and Slate

Re: Chase Sapphire Reserve

Anonymous — Sat, 04 Feb 2017 15:57:20 GMT

@shirleyland wrote:
Ok, I get it! But she goes on to say, I could get the card by doing a " Product changes and allocating funds from my other cards. Why would I want to do this? I would not get the bonus points ( 100,000)

Several people here have gone the PC route, when they were over 5/24. This is because, for some people, the card is valuable in its own right, without the bonus: additional URs on travel/dining, lounge access is worth the effective $150 AF. And the belief is that once under 5/24, you can downgrade the card and then apply for the CSR and get the bonus (Chase has a once per 24 month rule). As we saw, the bonus is likely to be 50K but for those with no way of getting the 100K, this is the way to get a useful card now, and some bonus later on.

Re: Chase Sapphire Reserve

shirleyland — Sat, 04 Feb 2017 16:02:01 GMT

There isn't a pre qualify site for the chase sapphire reserve. There was once a time you could go into the branch and pre qualify but no longer are they doing it at the bank. I think that's where people were able to get pass the 5/24 rule.

Re: Chase Sapphire Reserve

red259 — Sat, 04 Feb 2017 16:24:47 GMT

@shirleyland wrote:
So I go into a local Chase branch on yesterday and apply. I get the dreaded 7-10 message. My only concern was the 5/24 rule, my scores are Excellent. (800+)
This evening, I decided to call to F/U on the status. First Rep states " still pending" but transferred to the lending dept because of a address change question. Once transfer to lending dept, the lending specialist states, my application was denied because of the 5/24 policy that Chase has in place. She stated she couldn't overturn the decision despite excellent credit history. Ok, I get it! But she goes on to say, I could get the card by doing a " Product changes and allocating funds from my other cards. Why would I want to do this? I would not get the bonus points ( 100,000)
Has anyone gotten pass this other than getting pre qualified at the bank? I was told by the Chase banker that they are not pre qualifying at the branches anymore.

Should I call back and speak to someone else in the recon dept?

You are pretty much dead in the water if you are declined due to 5/24. I just got the CSR a few days ago and I thought I might be 5/24 due to my chase business card but that apparently did not count so I was only 4/24. They do not do preapprovals for the CSR anymore. My app was in branch and took about 24 hours before it was approved. If I didn't get the CSR this time I was going to say screw chase and just app for whatever cards I wanted, since the signup offer was going away and I was not going to forgo a bunch of apps for a 50k signup.

Re: Chase Sapphire Reserve

jawbrkr — Sat, 04 Feb 2017 19:47:06 GMT

@Anonymous wrote:
@shirleyland wrote:
Ok, I get it! But she goes on to say, I could get the card by doing a " Product changes and allocating funds from my other cards. Why would I want to do this? I would not get the bonus points ( 100,000)

Several people here have gone the PC route, when they were over 5/24. This is because, for some people, the card is valuable in its own right, without the bonus: additional URs on travel/dining, lounge access is worth the effective $150 AF. And the belief is that once under 5/24, you can downgrade the card and then apply for the CSR and get the bonus (Chase has a once per 24 month rule). As we saw, the bonus is likely to be 50K but for those with no way of getting the 100K, this is the way to get a useful card now, and some bonus later on.

Yep! I went that route.

Re: Chase Sapphire Reserve

Anonymous — Sat, 04 Feb 2017 20:00:00 GMT

@jawbrkr wrote:
@Anonymous wrote:
@shirleyland wrote:
Ok, I get it! But she goes on to say, I could get the card by doing a " Product changes and allocating funds from my other cards. Why would I want to do this? I would not get the bonus points ( 100,000)

Several people here have gone the PC route, when they were over 5/24. This is because, for some people, the card is valuable in its own right, without the bonus: additional URs on travel/dining, lounge access is worth the effective $150 AF. And the belief is that once under 5/24, you can downgrade the card and then apply for the CSR and get the bonus (Chase has a once per 24 month rule). As we saw, the bonus is likely to be 50K but for those with no way of getting the 100K, this is the way to get a useful card now, and some bonus later on.
Yep! I went that route.

I did as well and it has worked out great so far. Sure I wish I could have applied for the 100K offer but I was nowhere near 5/24 or going to be anytime soon. The cards that I have added have given me valuefar exceeding the 100K UR points so it is not something that I regret.

Re: Chase Sapphire Reserve

jawbrkr — Sun, 05 Feb 2017 04:24:16 GMT

@Anonymous wrote:
@jawbrkr wrote:
@Anonymous wrote:
@shirleyland wrote:
Ok, I get it! But she goes on to say, I could get the card by doing a " Product changes and allocating funds from my other cards. Why would I want to do this? I would not get the bonus points ( 100,000)

Several people here have gone the PC route, when they were over 5/24. This is because, for some people, the card is valuable in its own right, without the bonus: additional URs on travel/dining, lounge access is worth the effective $150 AF. And the belief is that once under 5/24, you can downgrade the card and then apply for the CSR and get the bonus (Chase has a once per 24 month rule). As we saw, the bonus is likely to be 50K but for those with no way of getting the 100K, this is the way to get a useful card now, and some bonus later on.
Yep! I went that route.
I did as well and it has worked out great so far. Sure I wish I could have applied for the 100K offer but I was nowhere near 5/24 or going to be anytime soon. The cards that I have added have given me valuefar exceeding the 100K UR points so it is not something that I regret.

I would have applied outright as well but I knew I was not going to meet that kind of spend over the coming three months. After that, certainly. Also, I didnt want to add another new account. I am trying to garden for a bit. I actually had to get a CLI to bring me over the minimum 10K required. I took one INQ on EX which didnt affect my score so that was all good by me.

Re: Chase Sapphire Reserve

ChicAndFabulous — Sun, 05 Feb 2017 00:05:28 GMT

I actually went into a branch today and asked the banker to check any preapprovals before I applied for the Chase Sapphire Reserve. I had checked online to see if I would prequalify for any cards, and I was, for Slate and Chase Sapphire Preferred. She checked my preapprovals in the system, and I showed NONE! I was shocked. I also don't bank at Chase, but was confused why I showed I was preapproved online for CSP and Slate, but not in the branch. I told her to go ahead and apply for it. I waited an hour in the branch to see a banker, so I figured what the hey! I got instantly approved for $16,000. She said to me, "You must have ridiculously good credit because you're honestly the very first person that's gotten instantly approved for the Reserve because it's our elite card." I laughed and said, "I used to have really horrible credit several years ago and just now getting it in the 700s." She said she always has to call in and speak to underwriter because they have to either verify income or they're trying to get recon, and I'm the first they instantly approved. She said she's even had several private clients that have gotten flat out denied or requiring 30-day review before a decision is made. Ha! I am BEYOND happy!!!! I got the 100k point bonus if i spend $4,000 in first 3 months and should get the card in 5 business days. I was approved for $16,000 right away but she did say a lot of people have gotten higher limits by the time they got the card. $16,000 is plenty for me, so can't complain!

Here's background on me:
Income: $202,000
Mortgage for almost 3 years
My scores below are all FICO 8 from here
EQ: 686
TU: 711
EX: 722
I was a little worried about the 5/24 because I have opened a lot of store cards in the past 24 months (Ann Taylor, CareCredit, Nordstrom, AA card - not Citi) and opened Amex Premier Rewards Gold and Amex Blue Cash in 2015. But I read that the store cards don't count towards the 5/24, but you never know. So happy!! Finally, Chase has welcomed me into their family!!!!!!

Re: Chase Sapphire Reserve

Anonymous — Sun, 05 Feb 2017 01:02:38 GMT

FYI, the sign up bonus is no longer 100k. It went down to 50k on Jan 13, 2017.

Additionally you should PC if the benefits suit you. $300 travel credit brings the AF to only $150. For me 3% on travel and dining pays for itself.

Re: Chase Sapphire Reserve

Anonymous — Sun, 05 Feb 2017 01:09:38 GMT

@Anonymous wrote:
FYI, the sign up bonus is no longer 100k. It went down to 50k on Jan 13, 2017.

Additionally you should PC if the benefits suit you. $300 travel credit brings the AF to only $150. For me 3% on travel and dining pays for itself.

Chase extended the 100K for in branch applications until March 12th

Re: Chase Sapphire Reserve

Anonymous — Sun, 05 Feb 2017 01:09:36 GMT

@Anonymous wrote:
FYI, the sign up bonus is no longer 100k. It went down to 50k on Jan 13, 2017.

Additionally you should PC if the benefits suit you. $300 travel credit brings the AF to only $150. For me 3% on travel and dining pays for itself.

Online is 50K, in branch is still 100K until sometime in March

Re: Chase Sapphire Reserve

shirleyland — Tue, 07 Feb 2017 05:27:05 GMT

You got lucky because my banker said they were not doing the prequalify at the branch.

Re: Chase Sapphire Reserve

shirleyland — Tue, 07 Feb 2017 05:31:52 GMT

Thats not true. You have until March 12, 2017 to go into your Chase branch for the 100,000 bonus . You're right about online though.

Re: Chase Sapphire Reserve

shirleyland — Tue, 07 Feb 2017 05:45:05 GMT

Re: Chase Sapphire Reserve

‎02-04-2017 04:05 PM

Congrats!