Chase Sapphire Reserve Approval Odds/Strategy

[Anonymous]

Hello!

So I've been eyeing the CSR for a while but I waited until I graduated to consider applying.  Unfortunately, I have a bit of a thin credit history so I'm trying to figure out what my best approach is.

Age: 25

FICO (Experian): 748

Transunion/Equifax: 760

Annual income: $190,000

Visa Signature through my local bank: $10,000 CL, open for 1 year 10 months

Utilization: ~8%

No negatives on my report, always pay on time, etc.

I only have the one card (and two credit builder loans from my local credit union, one of which is still active).  What are my odds for the CSR?  Would I be better off waiting until my card hits two years?  Or should I apply for a CSP or freedom first?  Hoping to get some insight from you guys! Thanks!

[kilroy8]

I think go for the Freedom first, and then wait for Chase to offer more. As long as you don't add any other cards, the offer will come.

[coldfusion]

I would go for the Freedom Unlimited with the intent of waiting until Chase gives you a prequalified offer for a CSP; at that time you can choose to apply for the CSP or cold app for the CSR.  Given that you've held your 1 card for more than a year and have a $10K limit on it you have at least a reasonable chance for approval.

Your profile isn't anywhere near being strong enough to be able to pull off a modified double-dip so you would be limited to having only 1 Sapphire card.  If you start off with a CSP you will need to wait at least 12 months (due to Federal law) and be able to have Chase approve you for at least a $10K limit before you could upgrade it to a CSR.

[Anonymous]

Got it, so if I go with the Freedom Unlimited, how long would you estimate it’d take before I got a CSP offer? Do you think my profile is too weak to apply for a CSP outright right now?

[Remedios]

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@Anonymous wrote:
Got it, so if I go with the Freedom Unlimited, how long would you estimate it’d take before I got a CSP offer? Do you think my profile is too weak to apply for a CSP outright right now?

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You never know with Chase. Age wise, I think you're fine, but it's a thin file, so who knows.

Go with one of the Freedoms and after about 6 months, CSR might be an option for you 

Save URs and be patient. I went CSP route first (because I thought I would not qualify for CSR 😐) and I've had plenty of time in the past  to regret that decision. 

[SEAlifer]

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@kilroy8 wrote:

I think go for the Freedom first, and then wait for Chase to offer more. As long as you don't add any other cards, the offer will come.

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I would just add that I applied for the CSR before I knew anything about credit and was hard declined, not a real term but I’m sure their algorithm just kicked me right out due to my lack of CC history and just ok score. I applied for the Chase Freedom a month later and was approved no problem. You’d for sure I think get the Freedom or Unlimited so wouldn’t hurt to app for the CSR first, IMHO YRMV. Welcome to the forum! Post about your apps and approvals. We love those!

[Anonymous]

The option of applying for a Freedom card then waiting for a CSP/CSR offer has been discussd extensively but the other route would be to open a checking account with Chase (they will even pay you at least $200 if you set up direct deposit).  Then after a month or so check with a personal banker to see if you have any in-branch approvals for the CSR.  Depending on how much activity is shown in your checking account you're likely to get in-branch approvals for several Chase cards.

[randomguy1]

If risk adverse and you don’t need the CSR immediately for travel in the next 3-4 months, go for the Freedom as it pairs well with the CSR anyways.

Apply for the freedom, after your third statement, go for the CSR.

If you could use a travel card in the next 3-4 months, go for the CSR, if you don’t have any inquiries on your report, one isn’t a big deal.

Or

Go for the CSP, if you just want to try out the UR system and are not going to spend or travel much in the first year. It has a better bonus by 10,000 points. A year later, upgrade to the CSR.

[Anonymous]

Great, thanks for all the advice.  I went ahead and applied for the Freedom Unlimited and got this message: "We have received your request for a Chase credit card. We'll let you know our decision as soon as possible."  Then I called the status update number and the robolady said I would hear back in writing in 30 days.  I've read that this isn't necessarily bad news.  Thoughts?

[BronzeTrader]

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@Anonymous wrote:

Age: 25

FICO (Experian): 748

Transunion/Equifax: 760

Annual income: $190,000

Visa Signature through my local bank: $10,000 CL, open for 1 year 10 months

Utilization: ~8%

No negatives on my report, always pay on time, etc.

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If you indeed have that kind of income at only 25, then Chase would certainly want to chase you.

The best way is to establish relationship with Chase.  It can be any Chase credit card.  A popular card easy to get approved is the Chase Amazon card.