Chase Sapphire Preferred - apply now or wait?

[Ragnar375]

Sold a rental property and paid off near $50k in cc debt this past week. 

As of April 3 my Bankcard scores are 708, 692 and 706 and DTI was under 30%. One "oops" of over 30 days from 18 months ago. 

A lot of traveling is in my furure - first up is booking a cruise next week. Intend to apply for CSP card to start playing the points game. 

How long will it take for CC payoffs to hit my reports? Should I apply now or wait (how long)? 

thanks for the input! 

[AverageJoesCredit]

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@Ragnar375 wrote:

Sold a rental property and paid off near $50k in cc debt this past week. 

As of April 3 my Bankcard scores are 708, 692 and 706 and DTI was under 30%. One "oops" of over 30 days from 18 months ago. 

A lot of traveling is in my furure - first up is booking a cruise next week. Intend to apply for CSP card to start playing the points game. 

How long will it take for CC payoffs to hit my reports? Should I apply now or wait (how long)? 

thanks for the input! 

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Don't apply until those cards start getting reported paid off. Make your report look better not give off the debt burden hereby jeeby vibe lol. If it's vital to go for Chase now just be prepared to recon and explain your report and your side in hopes they approve the denial. Good luck and wow great job paying off 50k of debt please adopt me

[MissLiz]

Congratulations on the huge pay off of debt! Like @AverageJoesCredit  suggested, I would wait until your report updates with the new balances. 

[JoeRockhead]

I'd also recommend you don't apply until the pay down of your other accounts reports to at least TU and EX. This will also bump your scores up. Although I've seen some approvals for the CSP with Fico 8 scores under 720, your chances will be better with scores at, or above that mark. If they don't get there, I'd also suggest you consider applying in branch which has yielded some folks better approval odds.

[FlaDude]

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@Ragnar375 wrote:

How long will it take for CC payoffs to hit my reports?

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Shortly after the statement cuts.

[nytimestraveler]

Thanks crazy to think about, my DTI is 0-2% and I have about 4-5k in cc debt 0% APR

[Ragnar375]

I called Amex and Discover and was able to get them to put in for an off-cycle update. 
BOA has one card already updated and showing. About to call and ask for the other cc (large amount) to be done off-cycle. 

another thread I just read said to not even try it with Target TD Bank, so going to wait on that one. 

I did a soft pull through chase website last night to see if they'd give me pre approval for anything. Big fat nodda! 

Also signed up for their credit report tool (Journey). Was surprised to see they show 5 past 30's (using Experian vantagescore) while here I'm showing one with Exp.