Chase Sapphire Reserve - My Update

[s_haliz]

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@Anonymous wrote:

My question for you is what did you do to ruin your credit and only have a 849 EX score?  Slacker!

Excellents scores and I agree with CC's assessment of your limit when you're approved.

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I have a similar question. Difference of just "1" less than perfect score? I mean that does not make sense. Not sure if approval of this Chase Sapphire Reserve would probably bump?? LOL Anyway I am OK for now. Hopefully someday before I would be too old to read my score, my EX score would raise to 850. LOL 

Thank you for appreciating my score. 

[Anonymous]

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@s_haliz wrote:

Dear Fellow FICO buddies, 

It has been a while since I posted here. Hope everyone is doing good. 

I haven't applied any credit card in last two and half years. However Chase Sapphire Reserve is very tempting. So I did apply online today and got 7-10 days message. I called them instantly and was told that they are reviewing my application. Called two hours later and was told to call on Monday for Verification.

Here's my details: 

FICO Scores: TU 850 | EQ 850 | EX 849 
Total Credit Limit: ~ $200,000

Income: $300,000 
Chase Freedom: $26,000 
Chase Marriott: $32,000 
Had a mortgage with Chase
Outstanding credit card balance less than 1% 
Credit cards applied in last 24 months: 0

The question is not so much as to whether I would get approved or not, it is what credit line I would be approved for? 

Any guesses? My own guess would be upward of $40,000 to about $50,000. 

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My bet is you got good chances of getting approved in the range of 40k to 50k. The maximum credit exposure one can have with chase is 50% of the income. 

Since you have another 90k+ room to grow with chase, I strongly feel your wish will become true come Monday 😀

[s_haliz]

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@Anonymous wrote:

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@s_haliz wrote:

Dear Fellow FICO buddies, 

It has been a while since I posted here. Hope everyone is doing good. 

I haven't applied any credit card in last two and half years. However Chase Sapphire Reserve is very tempting. So I did apply online today and got 7-10 days message. I called them instantly and was told that they are reviewing my application. Called two hours later and was told to call on Monday for Verification.

Here's my details: 

FICO Scores: TU 850 | EQ 850 | EX 849 
Total Credit Limit: ~ $200,000

Income: $300,000 
Chase Freedom: $26,000 
Chase Marriott: $32,000 
Had a mortgage with Chase
Outstanding credit card balance less than 1% 
Credit cards applied in last 24 months: 0

The question is not so much as to whether I would get approved or not, it is what credit line I would be approved for? 

Any guesses? My own guess would be upward of $40,000 to about $50,000. 

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My bet is you got good chances of getting approved in the range of 40k to 50k. The maximum credit exposure one can have with chase is 50% of the income. 

Since you have another 90k+ room to grow with chase, I strongly feel your wish will become true come Monday 😀

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Thank you so much for your feedback and great wishes. Your total credit line is very impressive. I mean technically you can buy even posh house in some part of the countries by just using your total credit line only! 

[driftless]

If you were a JP Morgan client I would guess 50, if not 35 - 40.

[s_haliz]

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@driftless wrote:
If you were a JP Morgan client I would guess 50, if not 35 - 40.

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Thank you for your feedback. When you refer to as JP Morgan client, would Mortgage with Chase and two other credit cards of Chase would suffice? 

[driftless]

No, I was thinking of relationship banking like CPC and having JP Morgan manage accounts. I am sure that your mortgage and cc's are factored in, it will be interesting to see how Chase weighs them.

[s_haliz]

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@driftless wrote:
No, I was thinking of relationship banking like CPC and having JP Morgan manage accounts. I am sure that your mortgage and cc's are factored in, it will be interesting to see how Chase weighs them.

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Very interesting. 

Curious to see what happens next. I am not totally agreed (although somewhat agreed though) on as to whether having relationship banking and/or manage accounts could boost the credit line. I have seen some cases here here at this Forum where relationship banking was helpful (after talking to Executive Office) to reverse "declined" decisions. 

My own rationale is:

The credit line decision is based on your score, income, % utilization, and perhaps highest credit line limit card(s) you may have (Generally $15K and above). I think they may also see as to how much total exposure one has in terms of total credit line with Chase (including all Chase Cards). 

[driftless]

Perhaps, it will be interesting to see what your SL is. I know that I can borrow x% over Libor at any time because of our JPM accounts. I am under the impression Chase does weigh in deposit accounts in their credit decisions. I will ask our banker if this true the next I am in our branch.

[rlx01]

No, CPC doesn't get you past 35k. That's pretty much the soft limit for CSR approvals.

Just move your credit around if/when approved.

[s_haliz]

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@driftless wrote:
Perhaps, it will be interesting to see what your SL is. I know that I can borrow x% over Libor at any time because of our JPM accounts. I am under the impression Chase does weigh in deposit accounts in their credit decisions. I will ask our banker if this true the next I am in our branch.

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I did browse through some postings. At least couple of postings indicated that they did get consideration. Interesting to see what happens on Monday.