Chase Sapphire Preferred 30 day response

[Anonymous]

Hello all,
I just applied for a Chase Sapphire Preferred card because it showed up on my chase acct offers. I’ve had a chase checking and savings for a few years now, along with a Chase Freedom Unlimited with a CL of $500 that I’ve had for 4 months. I also have a Capital One Premier with a CL of $1000. Chase also holds my auto loan for $21k. No lates or issues with CCs or auto loan. Score is around 640 and increasing.

The response I recieved, along with an email, said that I would receive a response in 30 days via mail. When I tried calling the app status line, it said I would receive a response in 7-10 days. Did I get denied?

I know this card is a stretch for me but it showed up as this card is a match for me on my chase account and with my goof history with Chase, I was crossing my fingers.

[Anonymous]

I’ve only had Chase (CSP & Freedom) since January, but I did a good bit of research on these boards prior to applying.

Your credit file sounds a little thin and somewhat new with respect to revolving accounts. While I hear on here that your relationship with Chase is helpful, they also are somewhat conservative. The minimum SL for a CSP is $5K, and Chase likes to see other lenders giving a person that much credit or more before they do typically. They also seem to like to see at least 12 months of good, solid history.

As for pre-approvals, you didn’t mention whether or not the offer you received had a “green check” next to it, which seems indicative of a solid (although not definite) approval indicator.

From the data points I’ve seen on here, a 30-day and/or 2-week notice are okay, but the 7-10 day is typically a denial. Nothing is 100%, but statistics seem to bear that out.

Personally, I would call them and speak to a CSR who can confirm one way or another and reconsider if necessary. At this point, not sure what you have to lose and you may get some useful information.

Good luck, and keep us posted with as much detail as you feel comfortable sharing so we can all learn.

[Anonymous]

Hi and thanks for the response.

Regarding the “pre-approval” if that’s what it means, it was under “your offers” and next to the offer, it says selected for you with a green check mark.

I also forgot to mention that I also had, until last month, a Capital One Secured CC with a $500 CL that I had for over a year.

My current cc are all paid off and I make multiple payments a month to keep it that way.

[thummel]

If the automated status line is giving you a 7-10 day notice, it’s most likely a denial unfortunately. If it’s ever a two week message or 30 day message, generally most of the time it’s an approval. Chase likes to see a limit close to 5K on another card as that is the minimum on the sapphire.

[Anonymous]

30 day message followed by two weeks on automated line, chances are good. 7-10 day on automated chances aren't so good.

[Anonymous]

Update: 

So after applying on Sunday, I called today to check status on the application. When calling, it still said that I would be receiving a response via mail in 7-10 days, which obviously doesn't sound good. So I chose to speak with a rep and was told the same thing, that my application was still pending and wasn't denied.

On top of that, I received an e-mail from Chase earlier today with the subject, " Still interested in Chase Sapphire Preferred." The CSP is also still showing under my offers that I have been selected for because of my relationship with Chase. 

At this point, I'm not sure what to thing. I guess I will just continue waiting impatiently. :/

I will update if I get anymore infomation. 

[Anonymous]

How accurate is the "my offers" section on the Chase portal for account holders? It shows that the Chase Sapphire Preferred was "selected for me" based on my relationship with Chase. When I submitted an application for the CSP,  I was told that it would have to be reviewed and I will be notified in 30 days. The pre-approval still shows under "my offers" and I also received an e-mail from Chase yesterday with the subject "Still interested in the Chase Sapphire Preferred," but the application is still pending. 

[Anonymous]

I got a 30 day message for my Amazon Prime CHASE card. I called the backdoor number and verified some info, they said they'd mail me a letter in 1-2 weeks. They called me a week later (I never got a letter) telling me I was approved for around $8,000.

I'm pretty sure the 30 day message is the best "further review" timeframe Chase gives. If its less than that people lean towards saying it will get denied, 30 day leans towards getting approved.

[JuliusC]

I got the 7-10 day message after getting the 30 day message when applying online. They made me wait for the letter. Essentially, the letter came with a number to call for verification. After answering a few questions, I was approved for the CSP. Of course, YMMV, but not all 7-10 are instant denials with Chase. Typically, if you had a green check mark with a fixed APR, those are normally good signs. Of course, if they are making you wait on the letter, the best thing to do is wait. 

[Anonymous]

Thanks for that. Gives me some hope. LOL