topic Re: Apply for Chase Sapphire Preferred. Need HELP. in Credit Cards

Apply for Chase Sapphire Preferred. Need HELP.

Anonymous — Tue, 20 Aug 2013 01:06:59 GMT

Hi guys.

Two days ago, I have submitted the application for CSP. My credit score was 690 (Experian) and had a credit history of only 8 months. My application was rejected but the client manager has submitted the special consideration form for me. (I had about 20K with Chase)

Today, I checked my credit score. It has increased to 732 (Experian). Should I tell the bank the increase of my score? Any advice? Do I have chances to get the CSP? Thanksssssss!

Re: Apply for Chase Sapphire Preferred. Need HELP.

Luscher — Tue, 20 Aug 2013 01:09:46 GMT

maybe call in and recon. have them pull that new report

Re: Apply for Chase Sapphire Preferred. Need HELP.

myjourney — Tue, 20 Aug 2013 01:10:50 GMT

@Anonymous wrote:
Hi guys.

Two days ago, I have submitted the application for CSP. My credit score was 690 (Experian) and had a credit history of only 8 months. My application was rejected but the client manager has submitted the special consideration form for me. (I had about 20K with Chase)

Today, I checked my credit score. It has increased to 732 (Experian). Should I tell the bank the increase of my score? Any advice? Do I have chances to get the CSP? Thanksssssss!

Welcome to the forum

At this point you can tell the manager about it which will mean another HP if you can handle that but why was it denied in the first place?

Re: Apply for Chase Sapphire Preferred. Need HELP.

Anonymous — Tue, 20 Aug 2013 01:11:34 GMT

Will that be another hard pull? I am a bit concerned about the hard pull. Had 3 already.....T_T

Re: Apply for Chase Sapphire Preferred. Need HELP.

Anonymous — Tue, 20 Aug 2013 01:14:02 GMT

Thanks! I didn't expect such a quick reply! =D

The manager said it was denied for two reasons;

1. Credit score was too low (690 when I applied)

2. Length of credit history is less one year ( I had only 8 months)

But he also mentioned since I had 20K deposits with them. He will be able to submit a special consideration form.

Re: Apply for Chase Sapphire Preferred. Need HELP.

myjourney — Tue, 20 Aug 2013 01:14:11 GMT

@Anonymous wrote:
Will that be another hard pull? I am a bit concerned about the hard pull. Had 3 already.....T_T

If you tell the manager yes it will be another HP but it all depends on why you were denied? Why?

Re: Apply for Chase Sapphire Preferred. Need HELP.

Luscher — Tue, 20 Aug 2013 01:15:27 GMT

they might want to see 12 months off cc activity first

Re: Apply for Chase Sapphire Preferred. Need HELP.

myjourney — Tue, 20 Aug 2013 01:16:00 GMT

@Anonymous wrote:
Thanks! I didn't expect such a quick reply! =D

The manager said it was denied for two reasons;

1. Credit score was too low (690 when I applied)
2. Length of credit history is less one year ( I had only 8 months)

But he also mentioned since I had 20K deposits with them. He will be able to submit a special consideration form.

In this case I would just let the banker handle it ...Chase likes to see 1 year of CC history at limits at least 5K

You deposits with Chase may sway....

Re: Apply for Chase Sapphire Preferred. Need HELP.

Anonymous — Tue, 20 Aug 2013 01:18:11 GMT

I see. I really wanna get CSP because I travelled a lot.

I am now having a credit card with CIBC (in canada). The annual fee is 120 dollars per year. CSP offers more benifits and the annual fee is LOWER.

Re: Apply for Chase Sapphire Preferred. Need HELP.

Anonymous — Tue, 20 Aug 2013 01:21:50 GMT

I see. Thanks for the advice. The banker seems to be very proactive. He spent 20 mins to convince me to become their private client.

Not sure where he got the impression that I had 1 million dollars to deposit into their bank......>_<

Re: Apply for Chase Sapphire Preferred. Need HELP.

myjourney — Tue, 20 Aug 2013 01:23:02 GMT

@Anonymous wrote:
I see. Thanks for the advice. The banker seems to be very proactive. He spent 20 mins to convince me to become their private client.

Not sure where he got the impression that I had 1 million dollars to deposit into their bank......>_<

Good luck and update us with the results

Re: Apply for Chase Sapphire Preferred. Need HELP.

Anonymous — Tue, 20 Aug 2013 01:25:32 GMT

Thanks!

The banker will give me a call tmr. I will keep you posted!

Re: Apply for Chase Sapphire Preferred. Need HELP.

Anonymous — Tue, 20 Aug 2013 01:49:36 GMT

I have high hopes for you. Chase always seems exceedingly nice to those that bank with them and remain loyal to them as a customer.

I don't see why you shouldn't get it and if anything, always be honest when you're talking to the banker tomorrow. State, "I really want this card for traveling, even if I have to take the minimum credit line of $5k it would be worth it." They like to make you happy!

I say this with never having a problem with Chase, but I think it is fair to say that Chase has become a lot more user-friendly and customer service savvy in the past five years. After all, the CSP is one of the best cards on the market right now in regards to UR points and variability.

Re: Apply for Chase Sapphire Preferred. Need HELP.

Anonymous — Tue, 20 Aug 2013 01:58:11 GMT

Thanks for the encouragement, Jenn_bar.

I would be really happy if I can get CSP. I currently have a Citi Forward card. It is a bit inconvinient because the credit line is only 1.5K...If I am traveling a bit far, say Europe, that credit line may not allow me to buy a return ticket.

Re: Apply for Chase Sapphire Preferred. Need HELP.

Anonymous — Tue, 20 Aug 2013 02:02:02 GMT

@Anonymous wrote:
Thanks for the encouragement, Jenn_bar.

I would be really happy if I can get CSP. I currently have a Citi Forward card. It is a bit inconvinient because the credit line is only 1.5K...If I am traveling a bit far, say Europe, that credit line may not allow me to buy a return ticket.

Do not use that card if you were to go overseas... It has a 3% foreign transaction fee (FTF), which will cost you much more. Especially when you are so close to getting a card without FTF. This could be another point you make to the banker with Chase.

Re: Apply for Chase Sapphire Preferred. Need HELP.

Anonymous — Tue, 20 Aug 2013 02:09:33 GMT

Yeahhh, it's so expensive to use overseas. I will def let my banker know that! =D

Re: Apply for Chase Sapphire Preferred. Need HELP.

djc1puno — Tue, 20 Aug 2013 02:54:44 GMT

Gl! I think they will give it to you...keep us posted

Re: Apply for Chase Sapphire Preferred. Need HELP.

Anonymous — Tue, 20 Aug 2013 04:52:10 GMT

@Anonymous wrote:
@Anonymous wrote:
Thanks for the encouragement, Jenn_bar.

I would be really happy if I can get CSP. I currently have a Citi Forward card. It is a bit inconvinient because the credit line is only 1.5K...If I am traveling a bit far, say Europe, that credit line may not allow me to buy a return ticket.
Do not use that card if you were to go overseas... It has a 3% foreign transaction fee (FTF), which will cost you much more. Especially when you are so close to getting a card without FTF. This could be another point you make to the banker with Chase.

Right. But also, the CSP still doesn't have an EMV chip, so you might want to take one that does as backup. (Is your Canadian chip&pin, if so, use that!) The Forward has a Chip&Signature option, but only use it abroad if you really have to.

Re: Apply for Chase Sapphire Preferred. Need HELP.

DaveSignal — Tue, 20 Aug 2013 11:21:19 GMT

longtimelurker wrote:
@Anonymous wrote:
CharlesSu wrote:
Thanks for the encouragement, Jenn_bar.

I would be really happy if I can get CSP. I currently have a Citi Forward card. It is a bit inconvinient because the credit line is only 1.5K...If I am traveling a bit far, say Europe, that credit line may not allow me to buy a return ticket.
Do not use that card if you were to go overseas... It has a 3% foreign transaction fee (FTF), which will cost you much more. Especially when you are so close to getting a card without FTF. This could be another point you make to the banker with Chase.
Right. But also, the CSP still doesn't have an EMV chip, so you might want to take one that does as backup. (Is your Canadian chip&pin, if so, use that!) The Forward has a Chip&Signature option, but only use it abroad if you really have to.

+1. The CSP would be great if you can get it, but you might also run into a few places where you can't use it because there is no EMV. I would consider applying for a chipped card as well.

Re: Apply for Chase Sapphire Preferred. Need HELP.

Anonymous — Thu, 22 Aug 2013 20:20:12 GMT

Thanks a lot for the advice, longtimelurker and dave. =D

I just called my banker today and he said my credit card application was declined due to limited credit history. Do you think I should give the backdoor number a call for reconsideration? I think the back office has my old credit score when they made their decisions. My new credit score is 42 points higher....... >_<