Chase Sapphire Preferred - Approval Odds

[Anonymous]

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!

[simplynoir]

If the status changed from 30 days to 7-10 days it's looking more like a denial according to the flowchart. I would wait for the denial letter to come in or if you have some free time & prepared to plead your case call the recon line and see what you can do as far as getting the decision overturned. As far as non-use on your other Chase card that should have little impact on your approvals odds with the CSP

[Anonymous]

I recieved a pre-approved offer as recently as January 2nd for a 10k line on the CSP.. wondering if I just missed my opportunity by not applying sooner.

[simplynoir]

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@Anonymous wrote:

I recieved a pre-approved offer as recently as January 2nd for a 10k line on the CSP.. wondering if I just missed my opportunity by not applying sooner.

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Was this offer on your online account with a green checkmark on it? Or did you cold app for it?

[dsotm76]

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@simplynoir wrote:

If the status changed from 30 days to 7-10 days it's looking more like a denial according to the flowchart. I would wait for the denial letter to come in or if you have some free time & prepared to plead your case call the recon line and see what you can do as far as getting the decision overturned. As far as non-use on your other Chase card that should have little impact on your approvals odds with the CSP

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Thank you for the link to the flowchart.  This is valuable information if mine doesn't go well.  :-)

[simplynoir]

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@dsotm76 wrote:

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@simplynoir wrote:

If the status changed from 30 days to 7-10 days it's looking more like a denial according to the flowchart. I would wait for the denial letter to come in or if you have some free time & prepared to plead your case call the recon line and see what you can do as far as getting the decision overturned. As far as non-use on your other Chase card that should have little impact on your approvals odds with the CSP

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Thank you for the link to the flowchart.  This is valuable information if mine doesn't go well.  :-)

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Credit goes to the fellows at r/churning. Glad it'll help you

[Anonymous]

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@simplynoir wrote:

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@Anonymous wrote:

I recieved a pre-approved offer as recently as January 2nd for a 10k line on the CSP.. wondering if I just missed my opportunity by not applying sooner.

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Was this offer on your online account with a green checkmark on it? Or did you cold app for it?

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I remember seeing in my online account but it was no longer there when I applied.

I followed that flow chart you sent and just got off the phone with someone through the reconsideration line. They said that a request for me to confirm my address was mailed out today. Hoping them asking me to confirm my address is a good sign.

[FinStar]

Yes, typically a 7-10 message can go in either direction. If you have a pretty solid profile and given you indicated a previous pre-approved/approved offer online, it's likely just a verification instance.

Just follow the instructions on the letter. You could just take the requested documents to your nearest branch to expedite the process.

[Anonymous]

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@FinStar wrote:
Yes, typically a 7-10 message can go in either direction. If you have a pretty solid profile and given you indicated a previous pre-approved/approved offer online, it's likely just a verification instance.

Just follow the instructions on the letter. You could just take the requested documents to your nearest branch to expedite the process.

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That's what they told me over the phone but of course there are no Chase branches anywhere near me.. 

[FinStar]

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@Anonymous wrote:

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@FinStar wrote:
Yes, typically a 7-10 message can go in either direction. If you have a pretty solid profile and given you indicated a previous pre-approved/approved offer online, it's likely just a verification instance.

Just follow the instructions on the letter. You could just take the requested documents to your nearest branch to expedite the process.

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That's what they told me over the phone but of course there are no Chase branches anywhere near me.. 

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Ah that's a bummer :-/ 

Well, just follow the instructions on the letter which outlines the options to send the required verification documents.