Chase Sapphire Preferred / Reserved approval odds?

[Anonymous]

Hi, a newbie here. 

I applied for CSP about twice this year, with almost no knowledge about credit scores and whatnot (lol..), and got declined both times. The most recent decline was about 2 months ago. Then I started researching and taking measures to improve my odds, and my credit score has been going up constantly. And this is where I am right now:

Scores: 715 (Experian FICO 8); 734 (Equifax Vantage 3.0); 747 (TransUnion Vantage 3.0) (Chase pulled from Experian & Equifax when I applied)

Total CL: 6k (BoA cash rewards 1500; BoA travel rewards 4500)

AAoA: 10 months (oldest 12)

Annual Income: 79k

I'm planning to wait until my AAoA becomes 12 months (by which time my scores would be a bit higher), and probably get another CLI for BoA travel rewards if they let me. Also I will be applying at a Chase branch this time.

Getting approved for CSP would be still pretty since I fly every year with a Chase partner airline, but it could be really sweet if I could get CSR..

What do you guys think my odds are for either cards? Any opinion / advice would be greatly appreciated! Thanks.

P.S. One more question - does Chase's 5/24 apply to # of inquiries or # of accounts actually open? I have more than 5+ inquiries on Experian and Equifax since I literally did not know anything about credit inquiries until a couple months ago....

[Anonymous]

Welcome to the Forums!

I would say that you have a better chance for the CSP over the CSR. 

The CSR is a Visa Infinite card, which mean that you will need to be approved for 10K. When I was approved for the CSR, I had several accounts floating just under 10K. 

CSP is Visa Signature, which has a minimum SL of 5K (I'm pretty sure). 

Not sure why they would be declining you. Your scores are well in range for the card. You might want to get some history with Chase with a no annual fee card before applying again. I would hate to see you be declined for a third time. Let's see what others have to say!

[Khalifa_Jayy]

Have you tried the prequalification through Chase's website? They are usually spot on and worked for me yesterday. I was showing the Freedom, Freedom Unlimited, Slate, and CSP as my results (given the message, "Choose from one of these four cards" or something like that) and applied and got both the Freedom and CSP. Best of luck! If nothing comes up on the prequal, I'd say wait it out and thicken your file with a CLI and some AAoA strengthening as you've mentioned.

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AmEx FICO 8: EX [714] | Discover Scorecard FICO: EX [719]

  
CENTURY CLUB MEMBER

[Anonymous]

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@Anonymous wrote:

P.S. One more question - does Chase's 5/24 apply to # of inquiries or # of accounts actually open? I have more than 5+ inquiries on Experian and Equifax since I literally did not know anything about credit inquiries until a couple months ago....

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My understanding is that 5/24 means you can't have 5 or more new open accounts within the past 24 months. Inquiries don't count. Closed accounts that were opened in the past 24 months also count.