topic Is my history good enough for Chase Sapphire Perferred ??? in Credit Cards

Is my history good enough for Chase Sapphire Perferred ???

Anonymous — Mon, 30 Sep 2013 07:54:24 GMT

So here is my background:

AOA- 2yr 6mo oldest accnt- 7yr2mo AU

INQ- TU-4 EQ-6 EX- 9 only 2 inq in last 6 months on all

no negatives at all on any report.

TU- 708 EQ- 692 EX-682 utilz- 42%

Revolving
10mo Discover More- 3700/4500cl

10mo Chase Freedm- 4/3000 cl

10mo Barclays Rwrds 0/ 750 cl

1yr10mo Wells Fargo Secrd 0/ 300 cl

6yr8mo Macys Store AU- 18/ 100 cl

7yr2mo Kohls Charge AU 50/ 1500cl

Loans

4mo Auto Loan - 6500/ 8800

2yr2mo SalliMae - 3500bal

2yr2mo SalliMae - 1500bal

1yr6mo SalliMae - 3500bal

1yr6mo SalliMae - 1500bal

Can I get approved for Chase SP at 5k with my biggest limit 4.5k

also will thet give me the regular chase Sappire with a lower limit if not approved for SP?

Also I wanna apply for Amex Delta,Banana Republic Visa,Travelcity Amex, BOA Rewards, Citi AT&t Universal ?

Can I apply for another discover if its only been 10months since first one.?

What are my odds for approval here or am i just waisting my time,
I waited atleast over 6-9 months after getting my prime cards

to apply for more. will i get higher limits then before or about the same.

And please dont say pay down card and then apply or wait 2 months.

I have to apply now to save crazy intrest paid now.

Re: Is my history good enough for Chase Sapphire Perferred ???

09Lexie — Mon, 30 Sep 2013 08:01:29 GMT

How does applying for a CSP or most of the cards on your list, help save you interest?

Re: Is my history good enough for Chase Sapphire Perferred ???

Anonymous — Mon, 30 Sep 2013 09:05:47 GMT

My auto loan and discover balance are

at a high intrest rate.

So i want some 0%apr promo cards

that way i can pay them down faster

while saving intrest

but i want to get enought credit that it doesnt hurt my utilz alot.

But the question is can i get approved for a 5kcl cards like CSP with my history and high utilz rate.

Re: Is my history good enough for Chase Sapphire Perferred ???

azguy13 — Mon, 30 Sep 2013 09:21:01 GMT

@Anonymous wrote:
So here is my background:

AOA- 2yr 6mo oldest accnt- 7yr2mo AU

INQ- TU-4 EQ-6 EX- 9   only 2 inq in last 6 months on all

no negatives at all on any report.

TU- 708 EQ- 692 EX-682    utilz- 42%

Revolving
10mo Discover More-   3700/4500cl
10mo Chase Freedm-       4/3000 cl
10mo Barclays Rwrds   0/ 750 cl
1yr10mo Wells Fargo Secrd 0/ 300 cl
6yr8mo Macys Store AU- 18/ 100 cl
7yr2mo Kohls Charge AU 50/ 1500cl
Loans
4mo    Auto Loan -    6500/ 8800
2yr2mo SalliMae -     3500bal
2yr2mo SalliMae -     1500bal
1yr6mo SalliMae -     3500bal
1yr6mo SalliMae -     1500bal

Can I get approved for Chase SP at 5k with my biggest limit 4.5k
also will thet give me the regular chase Sappire with a lower limit if not approved for SP?

Also I wanna apply for Amex Delta,Banana Republic Visa,Travelcity Amex, BOA Rewards, Citi AT&t Universal ?
Can I apply for another discover if its only been 10months since first one.?

What are my odds for approval here or am i just waisting my time,
I waited atleast over 6-9 months after getting my prime cards
to apply for more. will i get higher limits then before or about the same.

And please dont say pay down card and then apply or wait 2 months.
I have to apply now to save crazy intrest paid now.

This is what 95% of the members on this forum are going to tell you because that is what you need to do. Also, your revolving credit has very little history as it is still pretty new.

The CSP is not 0% intro rate. If you need to BT then I would suggest the Slate

Re: Is my history good enough for Chase Sapphire Perferred ???

MaltIR — Mon, 30 Sep 2013 10:22:05 GMT

You might not want to hear it, but if you want a CSP that is exactly what you need to do. I'd say your odds of getting approved are close to nil with your low AAoA and having a card maxed out. Like the poster above said, if you are looking for a 0% BT card then the slate is what you should be looking at. Even then, you probably are not going to get a high limit card with a util % sitting above 30%

Have you considered calling Discover and asking them to lower your intrest rate? Lots of people have had success with calling them and getting them to lower it a few percentage points every few months until its sitting at the lowest it can go!

Re: Is my history good enough for Chase Sapphire Perferred ???

azguy13 — Mon, 30 Sep 2013 10:27:48 GMT

OP, isnt your Freedom still in the 15 month 0% promo? I am betting the 3% fee will be less than you will pay in interest on the maxed out card.

Re: Is my history good enough for Chase Sapphire Perferred ???

Anonymous — Mon, 30 Sep 2013 12:11:37 GMT

Would it be better to apply for like a chase southwest?

also since i have the discover more for like 10 months now

can i apply for the discover it too?

I dont know, i think i can get approved for quite a few cards

even with my utilz. around low 40's

I'm thinking i might just apply for 5-6 prime cards and

prove i can get approved for like 4.

My goal is to get 15k or more in new credit. doable?

If my one account reports the $0 balance today(which it should - (chase and 2nd day after statement cut already!!!)

i will go ahead and do a app spree and test out for others to compare too.

Re: Is my history good enough for Chase Sapphire Perferred ???

navigatethis12 — Mon, 30 Sep 2013 12:29:24 GMT

The only problem I see is the high utilisation, although people have been getting approved with theirs somewhat high too. I was approved with more inquiries and a lot less shorter average age of accounts, although I dont think that matters as much as people think it does. You don't need a limit of 5,000 before they will approve you. If you've been using and paying the Freedom off nicely then that will really help you. The regular Sapphire still needs a 5,000 limit and they have the same requirments.

People have reported trouble when trying to obtain more than one personal Discover card, but you can try. You would not be able to transfer the Discover More balance to the Discover IT card, if that was why you wanted it.

Even if you did get approved for these cards, the limits would be lower since the reports do not look as good as they could. Although, it's only 3700 in debt, so even though you're almost at 50%, it's a miniscule amount. If your income is high enough that 3700 isn't a problem you may not have a problem with these cards. Citi and American Express do not let you talk to credit analysts though, so if a computer decisions it then that's that. Neither seem to be good with reconsiderations either.

Re: Is my history good enough for Chase Sapphire Perferred ???

azguy13 — Mon, 30 Sep 2013 12:35:46 GMT

@Anonymous wrote:
Would it be better to apply for like a chase southwest?

also since i have the discover more for like 10 months now
can i apply for the discover it too?

I dont know, i think i can get approved for quite a few cards
even with my utilz. around low 40's

I'm thinking i might just apply for 5-6 prime cards and
prove i can get approved for like 4.

My goal is to get 15k or more in new credit. doable?

If my one account reports the $0 balance today(which it should - (chase and 2nd day after statement cut already!!!)
i will go ahead and do a app spree and test out for others to compare too.

I would caution you against applying for 5-6 prime cards at one time. I say this for a couple different reasons.

1.) You most likely will not be able to run enough money through each card to get the bonuses

2.) By applying for that many prime cards your INQ's will go up and it is a big red flag to current lenders and you risk AA. This has personally happened to me.

3.) If approved, you will most likely get low initial CLs due to your current lower limits and a maxed out card.

4.) Credit is a marathon, not a sprint.

5.) You should never app for new cards simply to "prove" anything to anyone, including yourself. Focus on growing your current CLs instead of hammering your AAoA.

Now, this is all advice. You obviously do not have to listen to anyone on this forum but remember that most of us have been where you are at. If you truly only need a 0% BT card, just get one. There is no need to app for cards like the Chase Southwest if you do not fly Southwest often.

Re: Is my history good enough for Chase Sapphire Perferred ???

youngandcreditwrthy — Mon, 30 Sep 2013 12:36:22 GMT

Idk.. Banks don't like to see your "highest limit" near its limit...
I'd say 50/50
But there are a plethora of CSP approvals lately...

Re: Is my history good enough for Chase Sapphire Perferred ???

takeshi74 — Mon, 30 Sep 2013 14:23:25 GMT

@Anonymous wrote:

And please dont say pay down card and then apply or wait 2 months.
I have to apply now to save crazy intrest paid now.

With 42% utlization I'd strongly recommend dropping it before applying for anything. 30% is the generally recommended max though you'll get better results with even lower utilization. Aim for 10%.

@Anonymous wrote:

I have to apply now to save crazy intrest paid now.

Several cards in your list don't have 0% BT offers. The Sapphires definitely do not. You need to spend more time doing your due diligence and focusing your goal.

@Anonymous wrote:

but i want to get enought credit that it doesnt hurt my utilz alot.

Additional credit limits don't hurt your utilization. Balances and lowering credit limits do.

@Anonymous wrote:

I dont know, i think i can get approved for quite a few cards
even with my utilz. around low 40's

It's not just a matter of whether you can get an approval or not but the rates and limits that you'll qualify for. Granted, my utlization was much higher but Chase would only approve me for a $2K Slate (at the highest APR in the range) with high utilization. A few months later with <10% I got a $25K UMPE and $25K CSP within a day of each other. Not saying that your credit supports this. Just illustrating how limiting utilization can be. Again, you don't seem to want to hear this but you need to get your utilization down as much as possible.

If you want 0% BT offers now to help with this then focus on those and worry about everything else later when you get your utilization significantly lowered.

@Anonymous wrote:
Would it be better to apply for like a chase southwest?

Is there a 0% BT offfer on it?

Re: Is my history good enough for Chase Sapphire Perferred ???

FinStar — Mon, 30 Sep 2013 14:54:44 GMT

@azguy13 wrote:
@Anonymous wrote:
So here is my background:

AOA- 2yr 6mo oldest accnt- 7yr2mo AU

INQ- TU-4 EQ-6 EX- 9   only 2 inq in last 6 months on all

no negatives at all on any report.

TU- 708 EQ- 692 EX-682    utilz- 42%

Revolving
10mo Discover More-   3700/4500cl
10mo Chase Freedm-       4/3000 cl
10mo Barclays Rwrds   0/ 750 cl
1yr10mo Wells Fargo Secrd 0/ 300 cl
6yr8mo Macys Store AU- 18/ 100 cl
7yr2mo Kohls Charge AU 50/ 1500cl
Loans
4mo    Auto Loan -    6500/ 8800
2yr2mo SalliMae -     3500bal
2yr2mo SalliMae -     1500bal
1yr6mo SalliMae -     3500bal
1yr6mo SalliMae -     1500bal

Can I get approved for Chase SP at 5k with my biggest limit 4.5k
also will thet give me the regular chase Sappire with a lower limit if not approved for SP?

Also I wanna apply for Amex Delta,Banana Republic Visa,Travelcity Amex, BOA Rewards, Citi AT&t Universal ?
Can I apply for another discover if its only been 10months since first one.?

What are my odds for approval here or am i just waisting my time,
I waited atleast over 6-9 months after getting my prime cards
to apply for more. will i get higher limits then before or about the same.

And please dont say pay down card and then apply or wait 2 months.
I have to apply now to save crazy intrest paid now.
This is what 95% of the members on this forum are going to tell you because that is what you need to do. Also, your revolving credit has very little history as it is still pretty new.

The CSP is not 0% intro rate. If you need to BT then I would suggest the Slate

OP - All others have chimed in with similar outcomes/responses. Honestly, approval chances are sketchy at best, but YEMV.

Re: Is my history good enough for Chase Sapphire Perferred ???

sccredit — Mon, 30 Sep 2013 15:28:12 GMT

CSP is a Signature card with a 15.24% APR. My Southwest card is the same, 15.24% Signature card. Neither one will save you in interest.

Re: Is my history good enough for Chase Sapphire Perferred ???

dddewdrop — Mon, 30 Sep 2013 15:29:07 GMT

You answered your own quesiton here. The thing about credit cards is that when you have a big balance it is hard to get them to transfer it to lower interest and on the other hand when you have no balance you never think to apply for another card ahead of time. I think your chances are 50 50 of getting approved for CSP. I think you should apply and give it a shot. The worst thing that can happen is you are denied and burn an inquiry. The other advice I would give you is the advice you asked us not to give you lol.

Re: Is my history good enough for Chase Sapphire Perferred ???

Anonymous — Mon, 30 Sep 2013 17:16:37 GMT

If on the fence for getting approved for CSP.

Can they take some of my freedom CL

to make sure i meet the 5k min??

Also my Chase statement cut on 9/28

the balance still hasnt been reported to bureuas.

normally its there next day. any idea when it will update?

or is it late at night when they do it

Re: Is my history good enough for Chase Sapphire Perferred ???

parakleet — Mon, 30 Sep 2013 17:25:10 GMT

@Anonymous wrote:
If on the fence for getting approved for CSP.

Can they take some of my freedom CL
to make sure i meet the 5k min?? Provided that you qualify on other criteria. Chase allows you to move CL from other chase CCs.

Also my Chase statement cut on 9/28
the balance still hasnt been reported to bureuas.

normally its there next day. any idea when it will update?
or is it late at night when they do it The 28th was on a weekend, it will probably get updated in the next day

Re: Is my history good enough for Chase Sapphire Perferred ???

knoregs — Mon, 30 Sep 2013 18:25:18 GMT

@FinStar wrote:
@azguy13 wrote:
@Anonymous wrote:
So here is my background:

AOA- 2yr 6mo oldest accnt- 7yr2mo AU

INQ- TU-4 EQ-6 EX- 9   only 2 inq in last 6 months on all

no negatives at all on any report.

TU- 708 EQ- 692 EX-682    utilz- 42%

Revolving
10mo Discover More-   3700/4500cl
10mo Chase Freedm-       4/3000 cl
10mo Barclays Rwrds   0/ 750 cl
1yr10mo Wells Fargo Secrd 0/ 300 cl
6yr8mo Macys Store AU- 18/ 100 cl
7yr2mo Kohls Charge AU 50/ 1500cl
Loans
4mo    Auto Loan -    6500/ 8800
2yr2mo SalliMae -     3500bal
2yr2mo SalliMae -     1500bal
1yr6mo SalliMae -     3500bal
1yr6mo SalliMae -     1500bal

Can I get approved for Chase SP at 5k with my biggest limit 4.5k
also will thet give me the regular chase Sappire with a lower limit if not approved for SP?

Also I wanna apply for Amex Delta,Banana Republic Visa,Travelcity Amex, BOA Rewards, Citi AT&t Universal ?
Can I apply for another discover if its only been 10months since first one.?

What are my odds for approval here or am i just waisting my time,
I waited atleast over 6-9 months after getting my prime cards
to apply for more. will i get higher limits then before or about the same.

And please dont say pay down card and then apply or wait 2 months.
I have to apply now to save crazy intrest paid now.
This is what 95% of the members on this forum are going to tell you because that is what you need to do. Also, your revolving credit has very little history as it is still pretty new.

The CSP is not 0% intro rate. If you need to BT then I would suggest the Slate
+1

OP - All others have chimed in with similar outcomes/responses. Honestly, approval chances are sketchy at best, but YEMV.

++1

~kn

Re: Is my history good enough for Chase Sapphire Perferred ???

MissCredit9 — Mon, 30 Sep 2013 18:34:54 GMT

Apply for the Chase Slate. It has O% interest and free balance transfer i believe. They will likely start u with a decent limit if you let them know that you intend on transfer the entire balance. This will help with your utization overall as well. After that try cutting that balance at least in half before going for the CSP. Your stats are good enough for it but utilization will likely stand in your way.

Re: Is my history good enough for Chase Sapphire Perferred ???

09Lexie — Mon, 30 Sep 2013 18:42:41 GMT

I asked the first question on this thread and sadly the answer has been all about the CSP. It is obvious and apparent that you want to app for the CSP and you are looking for those answers.

It would be against your better interest to do so at this time but it is only a HP. The ultimate goal, as you stated would to be save interest. The CSP and none of the other cc's you listed would help. Paying down your debt would help your util, not moving it around to other cc's.

In the end, applying is your choice- good luck and keep us posted.

Re: Is my history good enough for Chase Sapphire Perferred ???

Anonymous — Mon, 30 Sep 2013 18:46:03 GMT

What you need is a 0% promo BT card, not a rewards card. You should apply for the slate instead, but your approval odds of a decent CL to transfer all that money you owe is still somewhat sketchy.

You don't need a rewards card like the CSP right now. That can wait till you are almost debt free.

Also, just to clear up your misunderstanding: some cards, such as the CSP, have a minimum 5k CL, which seems to be the main reason you are interested in it. However, if the bank doesn't want to approve you for a 5k CL, you will end up with a denial and not even 1 extra cent of credit extended to you.

Other cards, such as freedom, do not have a minimum CL. If chase wants to extend 5k to you, they will approve you for a 5k CL on the freedom. If they don't, you may still be approved for say 1k, which I think is much better than not getting a single cent in return for that same inquiry cost. Makes sense?