Chase Product Change

[jn1980]

I have a Chase Freedom with a CL of 13,000. Chase said I can product change to the Sapphire, Sapphire Preferred or Sapphire Reserve. I asked them if I did a new application for the bonus points would I definitely be approved. They said they can't know for sure. Anyone have experience with this? My credit score is hovering around 660-690 right now.

[austinguy907]

PC is always easier but, you don't get any bonuses typically.  With AMEX if you're offered an upgrade there's usually a bonus of the difference between a new app on the same product.  For instance BCE is offering $150/$100 spend and the upgrade would be $100/$1000 spend to come out to the new app BCP of $250/$1000.

New apps with Chase will take into account your overall CR profile currently.  There's always that chance you won't get approved but, nothing ventured, nothing gained.

My experience with Chase has been varied over the years to say the least since they picked up my cards from WAMU during the collapse.  They've held me down to $5500 on the account and sub par APR 20%+ that was finally knocked down to 17.x% sometime last year.  Taking into account theories of bucketing and where your account is coded when you open it is where you stay I appe for FU a few weeks ago and got the optimal approval for $25.9K / 15.74% / 0% 15 months.  

So, considering your 660-690 spread right now... I would wait and clean things up if necessary to bring your scores over that 720 threshold to max your bucket chances for further growth as it ages.  It's worth the wait to pick up that extra credit at the begining and not get stuck in the mud for the next 5 years with Chase.

[Anonymous]

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@jn1980 wrote:
I have a Chase Freedom with a CL of 13,000. Chase said I can product change to the Sapphire, Sapphire Preferred or Sapphire Reserve. I asked them if I did a new application for the bonus points would I definitely be approved. They said they can't know for sure. Anyone have experience with this? My credit score is hovering around 660-690 right now.

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No worries And I have done that before , you can call CSR phone number ( back of your card ) and ask to upgrade the card you want, there no hps pulled and they read the Disclosures/Agreements to you on the new cards 2 mins and you're good to go,the card will be mailed 5-7 business days, GL !

[jawbrkr]

Dont PC to the Sapphire. PC to the CSP or CSR. If you are trying to apply from scratch, have you tried the prequal link or the *your offers* page on your account? Keep in mind you wont receive a prequal for the CSR. At least not on the website. Perhaps at the branch.

[Anonymous]

What do you mean product change? I dont understand that. Basically switch from the freedom to the sapphire with no hard pull?

[Anonymous]

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@Anonymous wrote:

What do you mean product change? I dont understand that. Basically switch from the freedom to the sapphire with no hard pull?

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Yes, that's what it means.  Switching from one product to another.  Since it's not "new" credit, no HP is required.

OP, another thing to keep in mind is where you stand with respect to 5/24.  If you are over, a PC may be your only option. 

Have you checked the Chase site for your pre-qualified offers?

[Anonymous]

Does your account have to be open for over 1 year?

[jn1980]

I did check the prequal site and it doesn't have any offers for me. I'm going to move all my credit card debt into a single loan next week and that should give me a 30 point hike and then I'll check the prequal site again next month. If it still doesn't have anything for me I may just go with the product change

[Revelate]

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@jn1980 wrote:
I did check the prequal site and it doesn't have any offers for me. I'm going to move all my credit card debt into a single loan next week and that should give me a 30 point hike and then I'll check the prequal site again next month. If it still doesn't have anything for me I may just go with the product change

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Since inquiries are kinda irrelevant unless you have something big ticket like a mortgage coming up within a year, and 50K UR likely isn't, my own strategy was just apply, and if denied (I was) then do the PC.

If you aren't whacked by 5/24 with a 690+ FICO 8 you have a decent chance anyway, the minimum UW FICO line is below that for both the CSP and CSR so it's worth a shot, just remember more goes into a UW decision than just FICO, or in this case potentially the Chase internal score.

[Anonymous]

I agree that it's worth the HP to grab the card brand new if possible in order to scoop up those 50k bonus points, so long as you're confident in approval.