Chase Sapphire Preferred Approval Advice

[Anonymous]

Hi everybody, I am in pursuit of the Chase Sapphire Preferred. I am only 19, therefore my credit history is only about a year old. 7 months ago, I received 3 low limit, student credit cards to begin climbing the credit mountain. I finally decided last month that I had prepared enough to take the next stop, and applied/received the Amex BCE ($2000 limit), Chase Freedom ($500), and a Target RedCard ($300). My ultimate goal is to have the Chase Trifecta (CSP, Freedom, Freedom Unlimited) and dominate the UR game. I have been researching these forums for a couple months now and have learned a lot, but I am hoping some of you more experienced credit card users could give me a more personal/specific guide to obtaining the CSP.

I understand that there is a 5/24 rule, so I imagine I'll need to garden for a little over a year. I also read about Chase not typically approving people who don't have other cards with $5000 limits. This is why I applied for the Amex; I'm hoping to get the 3x CLI in 61 days. I wanted to get the Freedom to establish ties witth Chase. I also opened a checking account and deposited $10,000.

Info about me:

       I'm a college student, so my annual income is only $35,000 which I assume is frowned upon by credit lenders.

       I have 5 credit cards and 2 student loans that are deferred until May 2020 when I graduate.

       TransUnion 704              Equifax 706

       Chase seems to draw my TransUnion score which shows 3 inquiries. 

       Utilization is 10%

Thank you in advance!

[Anonymous]

Whre did you pull your credit scores from?

[Anonymous]

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ABCD2199 wrote:

Whre did you pull your credit scores from?

Credit karma

[Anonymous]

Those aren't credit scores used by any creditor, those are fake "educational" scores which may not have any connection to reality.

If you want advice on apping, get your real FICO 08 scores from CCT or MF, or one of the free FICO08 providers.

[Anonymous]

Thank you for the advice. According to FICO, my score is 703.

[Anonymous]

Which FICO?  EX, TU or EQ?  Chase where I live pulls TU mostly but some people get an EX pull instead or in addition to.  They pulled me for both TU and EX last month.

[Anonymous]

TU 685 EX 704 EQ 651

[Anonymous]

Chances are you may see some preapproved in-branch offers for it when your Chase cards are all more than 6 months old.  Once you hit the 6 month mark, start asking your in-branch banker to check your preapproved offers.  It'll get around 5/24.

Chase doesn't like to be your first big credit limit card -- what's your highest limit bank card now?

[Anonymous]

Wow, 6 months would be awesome! I was expecting at least a year of gardening so that's great news.

Currently, it's the Amex with $2000. The only reason I got the Amex was because I read that it's relatively easy to get a 3x CLI after 61 days. I'm hoping to have $6000 on it by August, and then I'm going to ask again in February/March to hopefully get me to $10,000.

[Anonymous]

It could be a year if your file is super thin.  6 months appears to be the absolutely minimum for in-branch preapprovals to appear AFTER getting a new Chase card.  Definitely check once a month after the 6 month mark and see -- that's a stronger prequalifier than anything else.  People with lower real FICOs have gotten Chase premium cards with in-branch preapprovals.

Get that Amex CLI for sure and use it as a prybar for the Chase.  Chase wants to see you have a large card in hand already.