Chase Sapphire Preferred Further Review?

[Beast26]

So I called the rep that did the application for me and she called the backdoor to check on my application.  I was decline 😮‍💨.  How long should I wait before trying to reapply?  I know the bonus may be gone by July.  I'll get the letter in the mail by next week telling me why I was declined.  

[cashorcharge]

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@Beast26 wrote:

So I called the rep that did the application for me and she called the backdoor to check on my application.  I was decline 😮‍💨.  How long should I wait before trying to reapply?  I know the bonus may be gone by July.  I'll get the letter in the mail by next week telling me why I was declined.  

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Sorry to hear that.  There could be a few different answers to this question so we'll need to understand the reason WHY before suggesting when to try again.

[Beast26]

Does Chase reconsideration line not exist anymore?  I never get a rep on the phone it's always the automated message and I've tried different numbers.  

[Beast26]

I finally got through!  My reasons are

* Current chase credit lines is at max that chase will allow

Second reason is similar to the first.

I'm on the line now asking them if I can exchange some of my credit limit from my other cards to get the Sapphire Preferred.  I was told that my freedom unlimited which has $13k cannot be transferred because it has not been opened for a year yet and my freedom flex credit limit is only $4400 which is under the $5k limit for opening the Sapphire.  😮‍💨

[cashorcharge]

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@Beast26 wrote:

I finally got through!  My reasons are

* Current chase credit lines is at max that chase will allow

Second reason is similar to the first.

I'm on the line now asking them if I can exchange some of my credit limit from my other cards to get the Sapphire Preferred.  

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Thanks for the reply....

If we dig into the context, you haven't mentioned your utilization in any post so I'd be curious how those accounts are being managed.  That would lead me to understand their decision "You're getting all you can from us at this time"

Additionally, while getting credit with others will increase your 5/24 numbers, if you did explore other options and show good management with higher TCL or with other FI's that would potentially raise your score over time and help them in making that decision.  

To that point, reapplying anytime soon (12 to 18 months) will likely not warrant a different result.

[Beast26]

Sorry I just edited my previous post with an update on the situation after you replied to add more information on my results.  My first chase card was freedom flex with only a limit of 4400 and I've had it for about 3 years now never asking for an increase due to it being a hard pull.  It's not enough credit line to transfer to the Sapphire card and my freedom unlimited (13000 CL) is not a year old yet so I can't use any credit from that.  BTW I have a 9% credit utilization.

[elboullee]

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@Beast26 wrote:

Sorry I just edited my previous post with an update on the situation after you replied to add more information on my results.  My first chase card was freedom flex with only a limit of 4400 and I've had it for about 3 years now never asking for an increase due to it being a hard pull.  It's not enough credit line to transfer to the Sapphire card and my freedom unlimited (13000 CL) is not a year old yet so I can't use any credit from that.  BTW I have a 9% credit utilization.

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In regards to trying to suss out data points vs. anecdotes for what is commonly represented as Chase policy, if you don't mind my asking - and please tell me to go pound sand if you do - does your current TCL on all of your Chase cards represent roughly 50% of your annual income and/or have you had recent negative information on your credit report?

[Beast26]

My annual income is $85k.  My total chase credit limits combined is $17,400.  I would consider closing my freedom flex to get the Sapphire elevated bonus regardless of the 3 yr history.  But idk how successful it would be to close that card and call recon again.  Literally out of the card because my freedom flex is only $600 short of the $5k limit for the Sapphire sounds crazy.

[Beast26]

It also makes no sense that my freedom unlimited needs to be a year old to move the credit limit.  I didn't ask if I could possibly lower my freedom unlimited credit limit since I won't need anywhere near $13k for the card.  I only asked if I could move some of it to the new card if approved.

[Beast26]

I took out my frustrations by applying for the Wells Fargo Autograph Journey instead and immediately got approved 😄.