Chase Sapphire Preferred - Approval Odds

[randomguy1]

Based on your score, cards, and SL, your chances seem pretty high.

Any major derogatories or BK on file? When was your CFU approved?

[Anonymous]

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@randomguy1 wrote:

Based on your score, cards, and SL, your chances seem pretty high.

Any major derogatories or BK on file? When was your CFU approved?

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No BK. About 5 years ago I had a student loan I defaulted on but haven't missed a payment since. Was approved for the CFU 2 years ago.

[Anonymous]

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@Anonymous wrote:

Hi,

1 week ago I applied for the CSP. Initially through the application status line I was recieving a message along the lines of my application had not been recieved yet and that I'd be notified in writing within 30 days. Today I called and the message changed to my application was under review and I would be notified within 7-10 days. Now I'm trying to get some feelers on what my approval odds are..

I've been diligently paying down the current cards I have. All of which I recieved during in college and shortly after when my credit knowledge was zilch and I racked up balances on. Now that I've paid them all off I'm excited by the opportunity of the CSP card and getting a 2nd chance to use the card the proper way and reap the benefits of the rewards.

My current scores are..

Experion: 718

TransUnion: 741

Equifax: 740

I have 3 cards

Discover It: $8900 limit

Chase FU: $4000 limit

Capital One Platinum: $1800

I'm wondering if my lack of use on the chase card over the past year or so as I paid it down will be consequental. I also applied through the refer a friend program and not sure if that will have any impact on the decision.

Any insight is appreciated!

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Hey there I got the same exact message when applying for my Freedom card! Same thing, first the 30 day message then the dreaded 7-10 days, which I assumed would be a denial. Luckily it was just to verify some information. I have a Chase checking account so I didn't have to wait for snail mail, instead they sent me a letter through my account and all it said was that they received an app for a Chase Freedom card and they wantd to make sure it was me who applied for it and provided a number for me to call in to verify. I called and after asking me to verify my address and I believe my SSN, they also texted me a code to my phone and I had to provide that code to them. After doing that I was approved, so maybe it will also be some sort of verification they need from you! Good luck! 

[Citylights18]

My guess is it must be that your income is borderline for a CSP because if your scores are high but your CFU is $4000 they might not think you are ready for a big boy card.

I had some pretty crappy scores when I got my CFP (650 EQ) but I was PIF to the tune of $3500 a month on my CFU so more of a big boy profile.

[Anonymous]

Friday of this past week I called into chase after recieving a letter in the mail stating they needed me to verify my address. Since I've recently moved I figured this was the reason. With me knowing my name wasn't on any the utility bills and I hadn't changed my address on my license, I called the number on the letter because I had questions on what sort of documentation I could send. Rep told me I could send my lease agreement. Next I asked if there was a quicker method besides fax or mailing and he offered up the suggestion of docusign. I said great! and proceeded to upload my lease agreement via the docusign link I was sent. They told me this would take a week to two weeks to be reviewed.. I've already been waiting that long so decided to call today and see if they received my verification.. they had but since the lease wasn't filled out electronically it was denied..greattt I thought to myself. Turns out they accept another cc statement for verification so I had the rep send another docusign link and immediately uploaded my statement from my discover card. I waited a few hours after this and called again to make sure it was recieved and that this would suffice for verification. Turns out that it did and the rep over the phone completed the application process on the spot and approved me!

[Anonymous]

Wow such a hassle but glad it ended well! If you haven’t already post on the approval section with your card, limit and data points. Big congratulations to you! 

[FinStar]

Thanks for the update and congrats on the approval @Anonymous.  Glad to hear things worked out 👍

Locking this thread as you have been approved.  Feel free to start a new approval thread in the Approvals forum if you would like to do so.