topic Re: Achieving Chase Sapphire Reserve in Credit Cards

Achieving Chase Sapphire Reserve

Work — Fri, 10 Feb 2017 02:26:53 GMT

Hey Guys,

First post and shooting for the stars!!

I am seeking any info or guidance or advises to achieve this card.

Currently FICO of EQ- 678 Trans -690 Experian- 672. Utilization at 28%, last opened account December 2016. Eq inquiries are at 6, Trans at 11, Experian 10. Average account age currently stands at 3 years.

For bank relation, I have Chase Freedom@ $4500 and Chase Auto Loan that I was on as a cosigner that went into bankruptcy which i became sole responsible party, currently.

Any suggestions!?

Thank you

Re: Achieving Chase Sapphire Reserve

AverageJoesCredit — Fri, 10 Feb 2017 02:45:13 GMT

Welcome! That car in bankruptcy seems it could be a problem with Chase but i maybe wrong. Perhaps you can explain that a bit more and im sure the Chase experts can chime in on your odds or what you may need to do to accomplish your goals. Again welcome and thanks for posting

Re: Achieving Chase Sapphire Reserve

Work — Fri, 10 Feb 2017 03:06:50 GMT

The auto loan through Chase was done by my business partner where I was a cosigner to.

2015 he filed for bankruptcy due to personal reasons where I became sole responsible party for the payments of the auto loan as the co signer. For apparent reason which it disappeared from my credit report after the his bankruptcy???

Re: Achieving Chase Sapphire Reserve

Work — Fri, 10 Feb 2017 16:38:07 GMT

Bump

Re: Achieving Chase Sapphire Reserve

Anonymous — Fri, 10 Feb 2017 17:01:11 GMT

My suggestion is go into a branch and see if you are preapproved for the CSP and if so, take a shot.

Re: Achieving Chase Sapphire Reserve

dragontears — Fri, 10 Feb 2017 19:17:48 GMT

With all those inquiries where are you in terms of 5/24?

Re: Achieving Chase Sapphire Reserve

Work — Sat, 11 Feb 2017 02:45:58 GMT

I think I'm limit over 5/24 but again,

I'm not applying now but TRYINg to achieve this card in the future,

Just need few tips I.e. Fico score, inquiries and idea utilization that chase might be looking forㅋ

Re: Achieving Chase Sapphire Reserve

Anonymous — Sat, 11 Feb 2017 17:42:18 GMT

@Work wrote:
I think I'm limit over 5/24 but again,

I'm not applying now but TRYINg to achieve this card in the future,

Just need few tips I.e. Fico score, inquiries and idea utilization that chase might be looking forㅋ

There isn't really a secret formula for this card, compared to anything else.

Excellent credit is the same across the board... don't have negative items, keep your cards paid off, allow only 1 card to report a small balance each month and the rest to report zero.

Patience

Re: Achieving Chase Sapphire Reserve

Anonymous — Tue, 14 Mar 2017 06:20:23 GMT

@Anonymous wrote:
@Work wrote:
I think I'm limit over 5/24 but again,

I'm not applying now but TRYINg to achieve this card in the future,

Just need few tips I.e. Fico score, inquiries and idea utilization that chase might be looking forㅋ
There isn't really a secret formula for this card, compared to anything else.

Excellent credit is the same across the board... don't have negative items, keep your cards paid off, allow only 1 card to report a small balance each month and the rest to report zero.

Patience

Not at all what the OP was asking or a constructive/realistic comment...I am pretty new to this, but have still learned thus far that there is more to the equation than "Excellent credit is the same across the board... don't have negative items, keep your cards paid off, allow only 1 card to report a small balance each month and the rest to report zero." - Especially when dealing with this level of a card.

I am setting myself up to be able to be a Candidate for the Chase Sapphire Reserve, as well as other "high end" cards (and/or banks) - and have seen many data points that seem to "qualify" you for a "Chance" at this type of card...the statement of "There isn't really a secret formula for this card, compared to anything else." isn't true at all!

There is definitely a "secret formula for this card", as it is not approved solely on score alone...

Excellent Credit is a matter of perspective (and it's the lender's that counts) - having a good score does not equal having a good credit (or a good credit "profile")

For Example:

- If your highest CL is $2900 on any of your cards with a 800 score, you probably won't get the $10K Starting Limit required to be approved for the card

- If your income is $20K with a 800 score, you probably won't get this card

- If you just did a bunch of apps with a 800 score...you probably won't get this card

- if you only have store cards with a 800 score, you probably won't get this card

- if your AAoA is 6 months, you probably won't get this card (and your score is 740+, as I think it's hard to get 800 with an AAoA of 6 months...)

I have seen many Data Points that show that having a relationship and history with Chase via Checking Accounts or CC's helps a lot in stacking the odds in your favor (although not guaranteed)...

I am no expert here, and I hope that some of the other gracious and experienced members here will provide more direction on what to try and do to "Plan" for qualifying a card at this level...most of the members on here, were or are currently looking for direction (myself included), and I think the OP really made an effort to state that what what he was attempting...

Keep asking questions, researching here and other sites and I am confident you will find many data points and responses to help lay out a plan to get you ready for the higher end cards...I wish I could contribute more to your question, but will defer to others that are more experienced and willing to provide better responses than the one above...as I know it will benefit many of us that are searching for answers and direction in an area that we want to learn about...whether immediate or in the future.

I am still early enough (really just the beginning) in my quest to know how overwhelming the amount of information out there and learning it can be.

Good Luck in your quest!

Re: Achieving Chase Sapphire Reserve

red259 — Tue, 14 Mar 2017 06:29:00 GMT

Now that the 100k signup offer is gone for the CSR maybe people should reconsider if this is a card they really need. A lot of the hype was about the large signup, but I'm not so sure that its a card worth chasing at the moment unless you can leverage it to offset the AF.

Re: Achieving Chase Sapphire Reserve

Anonymous — Tue, 14 Mar 2017 12:37:56 GMT

I'll likely be downsizing towards The CSR as i want to focus on UR and MR in the future. Might end up keeping Amex Platinum but with its Upcoming Af hike The CSR seems like a better premium travel card for most people.

Re: Achieving Chase Sapphire Reserve

sjt — Tue, 14 Mar 2017 18:43:10 GMT

@Work wrote:
Hey Guys,

First post and shooting for the stars!!

I am seeking any info or guidance or advises to achieve this card.

Currently FICO of EQ- 678 Trans -690 Experian- 672. Utilization at 28%, last opened account December 2016. Eq inquiries are at 6, Trans at 11, Experian 10. Average account age currently stands at 3 years.

For bank relation, I have Chase Freedom@ $4500 and Chase Auto Loan that I was on as a cosigner that went into bankruptcy which i became sole responsible party, currently.

Any suggestions!?

Thank you

I think if you bring down your utilization to 10% you should be good. Also, you should look into refinancing the car loan.