topic Re: Chase Sapphire in Credit Cards

Chase Sapphire

Anonymous — Tue, 08 Jul 2014 15:33:47 GMT

Hi, I'm a 20 year old college student and was wondering if you could help me figure out whether I have a possibility of being approved for the Chase Sapphire Preferred. I really want this card because I travel a lot and would love the rewards. Here's my information.

Credit Cards:

Citi Forward: $3000 CL, 1 Year

First National Bank Secured Credit: $4000 CL, 1 Year

Authorized User on American Express Platinum: No Limit, 4 Years

Credit Scores:

TransUnion: 725

Equifax: 714

Experian: 710

Income:

$19,400

Re: Chase Sapphire

JoshNurse — Tue, 08 Jul 2014 15:11:07 GMT

For cards like Amex and the csp I would think they want more years of history. Authorized user cards may not count.

Any other travel card you got your eye on?

Re: Chase Sapphire

JoshNurse — Tue, 08 Jul 2014 15:11:53 GMT

Let's wait for members with more experience to post some info.

Re: Chase Sapphire

longtime_lurker — Tue, 08 Jul 2014 15:34:09 GMT

@JoshNurse wrote:
For cards like Amex and the csp I would think they want more years of history. Authorized user cards may not count.

Any other travel card you got your eye on?

I got my Amex with an AAoA of like 16 months and my CSP with an AAoA of like 13 months (give or take +/- 1 or 2). My income is slightly higher, however (not by that much, though).

Re: Chase Sapphire

robbulous — Tue, 08 Jul 2014 15:57:57 GMT

I'm going to say your chances aren't good at this moment simply because Chase wants to see experience with a $5k or higher CL before approving for the Sapphire cards that have a minimum CL of $5k.

I would recommend going for a Freedom. You'll probably get a 3-4k CL, and then in 6 months you may get a CL on one of your cards to over $5k. At that time you will have history with Chase, and can possibly move some of your Freedom CL to the Sapphire to make being approved for it even easier.

I had my Chase Amazon for 6 months before they approved me for the Sapphire. My Discover and AMEX were at $6k at the time too.

Re: Chase Sapphire

mongstradamus — Tue, 08 Jul 2014 16:01:17 GMT

@robbulous wrote:
I'm going to say your chances aren't good at this moment simply because Chase wants to see experience with a $5k or higher CL before approving for the Sapphire cards that have a minimum CL of $5k.

I would recommend going for a Freedom. You'll probably get a 3-4k CL, and then in 6 months you may get a CL on one of your cards to over $5k. At that time you will have history with Chase, and can possibly move some of your Freedom CL to the Sapphire to make being approved for it even easier.

I had my Chase Amazon for 6 months before they approved me for the Sapphire. My Discover and AMEX were at $6k at the time too.

To piggy back on this comment maybe try and go for an amex revolver probably in Jan would be optimal to maximize your msd, but you can probably try now if you want. Chase freedom is also a good idea so you can combo with CSP down the road .

Re: Chase Sapphire

Anonymous — Tue, 08 Jul 2014 16:08:53 GMT

@mongstradamus wrote:

To piggy back on this comment maybe try and go for an amex revolver probably in Jan would be optimal to maximize your msd

Wouldn't this be the first Amex for the OP? Waiting for Jan would push the MSD to 2015 for this and future cards. For the first card get ASAP to optimize backdating for future cards.

Re: Chase Sapphire

mongstradamus — Tue, 08 Jul 2014 16:12:24 GMT

@Anonymous wrote:
@mongstradamus wrote:
To piggy back on this comment maybe try and go for an amex revolver probably in Jan would be optimal to maximize your msd
Wouldn't this be the first Amex for the OP? Waiting for Jan would push the MSD to 2015 for this and future cards. For the first card get ASAP to optimize backdating for future cards.

I thought he said he had amex platinum for 4 years did I misread

Re: Chase Sapphire

robbulous — Tue, 08 Jul 2014 16:16:29 GMT

He's an AU on a Platinum card. Most lenders can see they're not the main card holder.

Re: Chase Sapphire

mongstradamus — Tue, 08 Jul 2014 16:28:31 GMT

@robbulous wrote:
He's an AU on a Platinum card. Most lenders can see they're not the main card holder.

Oh I guess misunderstood how msd works apparently. My msd started as soon as I graduated high school my dad must have been co signer,thought was just au.

Re: Chase Sapphire

ezdoesit — Tue, 08 Jul 2014 16:32:39 GMT

@Anonymous wrote:
Hi, I'm a 20 year old college student and was wondering if you could help me figure out whether I have a possibility of being approved for the Chase Sapphire Preferred. I really want this card because I travel a lot and would love the rewards. Here's my information.

Credit Cards:
Citi Forward: $3000 CL, 1 Year
First National Bank Secured Credit: $4000 CL, 1 Year
Authorized User on American Express Platinum: No Limit, 4 Years

Credit Scores:
TransUnion: 725
Equifax: 714
Experian: 710

Income:
$19,400

Did you go on the Chase prequal site to check if they hav any offers for you? In my experience they are pretty accurate and if the freedom comes up check the APR that they are offering that will be an indicator of how they feel about your credit report. 13.99-22.99

Re: Chase Sapphire

bigblue7722 — Tue, 08 Jul 2014 18:02:03 GMT

I would personally go for it if thats the card you really want. Your scores are solid but i might say go for the freedom first because of you income. The freedom works really well with the csp so you should get it anyways or else your costing yourself money. Do you pay rent or do you live at home? That could be a big difference with your DTI ratio. Its just a HP you wont lose that much if you get denied. Chase is also good with recons so even if you do get denied you still have a fighting chance, unlike amex or discover.

Re: Chase Sapphire

-Cal- — Tue, 08 Jul 2014 19:58:25 GMT

I think there is a high probability that you would be denied because of your income. I was initially denied because too low income. In reality, I made a typo on my income which indicated $24,000 annual gross. If I were you, I would not apply for this card.

Re: Chase Sapphire

Anonymous — Tue, 08 Jul 2014 20:09:54 GMT

datapoint: i was about 22 and had a 3 year credit history with an AAoA of 1 year (3 years with an Amex Macys store card, 1 year with BofA, no history with Chase). I was also an AU for a Discover card (slightly irrelevant since I dont think Chase factors that heavily) and was only making 40k. Credit score was slightly higher than yours and i got approved without having to recon.

I think if you really want it, you might as well go for it. ive seen people with 700 or even a couple rare instances of folks with as low as 680 or so get approved. so if you really want it, id take a chance. the majority of us here don't really apply for credit cards unless we're fairly certain we can get them, but we're usually more risk averse because we don't really need the card. no one really ever NEEDS a particular card, but in your case it looks like you'll be making it your daily card so the usage is much higher than for a single category or for a signup bonus, so maybe it's worth taking the risk right now. but i think you have a 30-40% of getting approved; if you get rejected it'd definitely be worth reconning.

Re: Chase Sapphire

Closingracer99 — Tue, 08 Jul 2014 20:22:11 GMT

@robbulous wrote:
I'm going to say your chances aren't good at this moment simply because Chase wants to see experience with a $5k or higher CL before approving for the Sapphire cards that have a minimum CL of $5k.

I would recommend going for a Freedom. You'll probably get a 3-4k CL, and then in 6 months you may get a CL on one of your cards to over $5k. At that time you will have history with Chase, and can possibly move some of your Freedom CL to the Sapphire to make being approved for it even easier.

I had my Chase Amazon for 6 months before they approved me for the Sapphire. My Discover and AMEX were at $6k at the time too.

I Got the regular Chase Sapphire card with an AAoA around 8 months with my Discover at 1 Year longest. my Scores were a bit worse then his and my Credit avaliable to me at the time with 4 Credit cards at the time was $3,200. Got approved for the Freedom and Chase Sapphire on the same day. Looking at his scores and everything I think he has a very good chance at being accepted for the CSP.

Re: Chase Sapphire

robbulous — Tue, 08 Jul 2014 22:27:48 GMT

Wow that is surprising. Did you have a Chase checking or savings account at the time with a good amount of money in it? I've heard this can also help you get approved for Chase cards that you wouldn't normally qualify for.

Re: Chase Sapphire

-Cal- — Tue, 08 Jul 2014 22:29:54 GMT

@Closingracer99 wrote:
@robbulous wrote:
I'm going to say your chances aren't good at this moment simply because Chase wants to see experience with a $5k or higher CL before approving for the Sapphire cards that have a minimum CL of $5k.

I would recommend going for a Freedom. You'll probably get a 3-4k CL, and then in 6 months you may get a CL on one of your cards to over $5k. At that time you will have history with Chase, and can possibly move some of your Freedom CL to the Sapphire to make being approved for it even easier.

I had my Chase Amazon for 6 months before they approved me for the Sapphire. My Discover and AMEX were at $6k at the time too.
I Got the regular Chase Sapphire card with an AAoA around 8 months with my Discover at 1 Year longest. my Scores were a bit worse then his and my Credit avaliable to me at the time with 4 Credit cards at the time was $3,200. Got approved for the Freedom and Chase Sapphire on the same day. Looking at his scores and everything I think he has a very good chance at being accepted for the CSP.

What about your annual income? That seems to be a factor with this card from personal experience.

Re: Chase Sapphire

Pat94108 — Wed, 09 Jul 2014 01:34:41 GMT

@Closingracer99 wrote:
@robbulous wrote:
I'm going to say your chances aren't good at this moment simply because Chase wants to see experience with a $5k or higher CL before approving for the Sapphire cards that have a minimum CL of $5k.

I would recommend going for a Freedom. You'll probably get a 3-4k CL, and then in 6 months you may get a CL on one of your cards to over $5k. At that time you will have history with Chase, and can possibly move some of your Freedom CL to the Sapphire to make being approved for it even easier.

I had my Chase Amazon for 6 months before they approved me for the Sapphire. My Discover and AMEX were at $6k at the time too.
I Got the regular Chase Sapphire card with an AAoA around 8 months with my Discover at 1 Year longest. my Scores were a bit worse then his and my Credit avaliable to me at the time with 4 Credit cards at the time was $3,200. Got approved for the Freedom and Chase Sapphire on the same day. Looking at his scores and everything I think he has a very good chance at being accepted for the CSP.

I would think the regular Sapphire is a bit easier to qualify for than the CSP, no? I think he has good chances for the regular Sapphire or Freedom but his income is low for the CSP.

Re: Chase Sapphire

elim — Wed, 09 Jul 2014 01:49:21 GMT

curiouser and curiouser... please keep us posted. thanks and good luck!

Re: Chase Sapphire

Closingracer99 — Wed, 09 Jul 2014 03:30:20 GMT

@Pat94108 wrote:
@Closingracer99 wrote:
@robbulous wrote:
I'm going to say your chances aren't good at this moment simply because Chase wants to see experience with a $5k or higher CL before approving for the Sapphire cards that have a minimum CL of $5k.

I would recommend going for a Freedom. You'll probably get a 3-4k CL, and then in 6 months you may get a CL on one of your cards to over $5k. At that time you will have history with Chase, and can possibly move some of your Freedom CL to the Sapphire to make being approved for it even easier.

I had my Chase Amazon for 6 months before they approved me for the Sapphire. My Discover and AMEX were at $6k at the time too.
I Got the regular Chase Sapphire card with an AAoA around 8 months with my Discover at 1 Year longest. my Scores were a bit worse then his and my Credit avaliable to me at the time with 4 Credit cards at the time was $3,200. Got approved for the Freedom and Chase Sapphire on the same day. Looking at his scores and everything I think he has a very good chance at being accepted for the CSP.
I would think the regular Sapphire is a bit easier to qualify for than the CSP, no? I think he has good chances for the regular Sapphire or Freedom but his income is low for the CSP.

From What I have read CS and CSP would be based off the same approval chances ...