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Chase Sapphire Reserve approval odds

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Super Contributor

Re: Chase Sapphire Reserve advice


@T100D wrote:

Hey all, first time posting here but been a lurker for a few months now absorbing information, being pretty new and ignorant to the world of credit. I want to thank so many members here giving really great advice and encouraging stories, and really appreciate the time all of you have contributed.

So, long story short, I have been eyeing on the chase sapphire reserve and do hope to get it this upcoming June when I'll have big travel plans. I have already attempted once about 4 months (August) ago but was denied with 3 separate attempts to recon. That was before I know anything and that's when I found this forum. At the time of denial, my credit info is listed as follows:

 

Only 2 credit cards [Discover FicoScore 773]

-Bank of America (authorized user): 4 years, $30k limit

-Discover: 6 months, $1500 limit

$50k income, student graduating next year, no loans of any kind, no debt, no derogatories, 100% payment on time for both cards, 1 inquiry from Discover app.

 

The denial letter and post recon denial letter from Chase only stated one reason: Few revolving accounts opened long enough to establish credit history. Only Equifax was pulled and showed me score of 759 on the letter. Additionally, the letter also gave Chase's internal Card Aquisition Risk Score of 862/900, stating that higher is better.

 

I took the advice from the denial letter and proceeded to apply for 2 more credit cards right after. I have also gained a higher limit on my Discover since the last application through several small CLI over time. As of current info:

 

Discover FicoScore 740

Added 2 or 3 inquiries depending on which was pulled due to the recent applications.

-Bank of America (authorized user): 4 years, $30k limit

-Discover: 10 months, $6700 limit

-CapitalOne Quicksilver: 3 months, $10k limit

-Citibank: 3 months, $3500 limit

I have maintained the same status: no loans, no debt, 100% payment on all cards. 

So now the question is, if I wait until this coming May/June and tried to apply again for the Reserve, is there any chance of approval or just give up on the idea? Thanks for all your help!

 

Update edit 1: I do not plan on getting more cards so I can stay below the 5/24 rule. Also I do not have a banking or relationship with chase at the moment. There are no Chase banks close by either.


No reason to guess.

 

1. You could start a checking or savings account with Chase. Once you're a customer they have an "offers" section and you'll be able to find your prequalified card offers.

 

2. You can also just go to Chase's site to check for prequalified credit card offers.

 

 


Total revolving limits 644000 (568000 reporting)
FICO 8's EQ 710 TU 733 EX 717



Message 11 of 18
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Established Member

Re: Chase Sapphire Reserve advice


@SouthJamaica wrote:


@SouthJamaica wrote:

@T100D wrote:

Hey all, first time posting here but been a lurker for a few months now absorbing information, being pretty new and ignorant to the world of credit. I want to thank so many members here giving really great advice and encouraging stories, and really appreciate the time all of you have contributed.

So, long story short, I have been eyeing on the chase sapphire reserve and do hope to get it this upcoming June when I'll have big travel plans. I have already attempted once about 4 months (August) ago but was denied with 3 separate attempts to recon. That was before I know anything and that's when I found this forum. At the time of denial, my credit info is listed as follows:

 

Only 2 credit cards [Discover FicoScore 773]

-Bank of America (authorized user): 4 years, $30k limit

-Discover: 6 months, $1500 limit

$50k income, student graduating next year, no loans of any kind, no debt, no derogatories, 100% payment on time for both cards, 1 inquiry from Discover app.

 

The denial letter and post recon denial letter from Chase only stated one reason: Few revolving accounts opened long enough to establish credit history. Only Equifax was pulled and showed me score of 759 on the letter. Additionally, the letter also gave Chase's internal Card Aquisition Risk Score of 862/900, stating that higher is better.

 

I took the advice from the denial letter and proceeded to apply for 2 more credit cards right after. I have also gained a higher limit on my Discover since the last application through several small CLI over time. As of current info:

 

Discover FicoScore 740

Added 2 or 3 inquiries depending on which was pulled due to the recent applications.

-Bank of America (authorized user): 4 years, $30k limit

-Discover: 10 months, $6700 limit

-CapitalOne Quicksilver: 3 months, $10k limit

-Citibank: 3 months, $3500 limit

I have maintained the same status: no loans, no debt, 100% payment on all cards. 

So now the question is, if I wait until this coming May/June and tried to apply again for the Reserve, is there any chance of approval or just give up on the idea? Thanks for all your help!

 

Update edit 1: I do not plan on getting more cards so I can stay below the 5/24 rule. Also I do not have a banking or relationship with chase at the moment. There are no Chase banks close by either.


No reason to guess.

 

1. You could start a checking or savings account with Chase. Once you're a customer they have an "offers" section and you'll be able to find your prequalified card offers.

 

2. You can also just go to Chase's site to check for prequalified credit card offers.

 

 


 

1. You could start a checking or savings account with Chase. Once you're a customer they have an "offers" section and you'll be able to find your prequalified card offers.

 

2. You can also just go to Chase's site to check for prequalified credit card offers.

 

 


The problem with starting a checking or savings with Chase is that I could not proceed after entering my zip code. Chase services is not offered in my area and the nearest branch is over 2 hours away.

I've tried the prequalify page but nothing shows up.

Message 12 of 18
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Frequent Contributor

Re: Chase Sapphire Reserve advice

I would not rec PC from CSP to CSR, I believe you would have to wait a year from the time you get the CSP to PC to a CSR.   Are you currently at 3/24 or 2/24?  Just trying to make sure yo won't have to PC to stay under 5/24.

 

Credit Journey helps since it can show pre-quals...might you be traveling to an area that has a Chase branch in the next few months.  As I have stated previously I never have any online pre-approvals (Chase site, Credit Journey) but I do get quite a few in-branch.

Message 13 of 18
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Established Member

Re: Chase Sapphire Reserve advice

I'm currently 3/24.

No, I will be traveling out of the country so not likely to have a chase bank. Hence I was hoping to get CSR before I leave.

Message 14 of 18
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Valued Member

Re: Chase Sapphire Reserve advice

What are the terms to going the product change route for CSR? I don't havev any chase credit cards because I'm a college student. I am Chase Private Client but haven't seen any preapprovals through the portal yet. I was thinking about doing the following.

 

-Applying for Chase Freedom when my first card turns 1yo.

-Apply for CSP 9-12 months after I get Chase Freedom.

-Build CLs, and maybe get a FU.

-Evventually combine everything to CSP and PC to CSR.

-Keep my Freedom and PC to CSR.

 

What do you think? Does a relationship/CPC help get a higher limit?

 

CCs- Amex PRG, Cap One QS, Discover Chrome

Message 15 of 18
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Established Member

Re: Chase Sapphire Reserve advice

From what I have read so far, product change from CSP to CSR will take one year of use with the CSP. It seems that Chase likes that 1 year mark. I just tried for the Freedom and was denied for same reason.

As to your other question, perhaps someone with more experience can answer that.

Message 16 of 18
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Contributor

Re: Chase Sapphire Reserve approval odds

Chase looks into multiple random items on your profile but as discussed in this thread, having savings and or checking helps, starting with non-premium card e.g. Chase FU helps as well as income level. Initially got denied for Chase FU, opened checking and savings when visiting friends in a state that had Chase location, reapplied for Chase FU about 6 months later and got it, built it over 2 yrs, and then noticed the CSR pre-approval popup in offers but mistakenly applied for Amex Delta in 5/24 slot so have to wait since CSR disappeared. All the best!

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amexchasechasebbyciticitidsrapplecardpncwellsfargo
Message 17 of 18
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New Member

Re: Chase Sapphire Reserve approval odds

I would not re-apply for the CSR you will get denied again, most likely.

 

Honestly i would not apply for any chase cards for at least 12 months, and when you do, apply for the chase freedom, the CSR and CSP are harder cards to get.

 

Being an authorized user is not looked at the same by the banks.

 

I would apply for another card entirely, which one is up to you.

 

But Discover and/or Amex is probably a good place to start.

Message 18 of 18
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