Chase sapphire preferred, gross income

[Anonymous]

I recently applied for the CSP and just got my rejection letter, the only thing mentioned as to why i was denied was

"Not enough gross annual income to qualify for credit card"

I am about to turn 21, have had a discover it card for about a year now with a credit line of 800, and a fico score that has settled around 722-730 lately. I have always payed my bill in full usaully as soon as i get the statement.

I didnt realize the minimum credit line given for the CSP was 5000, I put 12,000 as my income from my primary job.  I have 2 jobs , it only gave an option to plug in one, so I'd say my income is higher, but my other job is one for my father so i work as much as i need to and my income from that fluctuates. I thought i should low ball it, being generous is better i learned because they cant look up your income.

Is there any way to work with this in the present, maybe by talking to someone at chase to get approved?  would i have to then prove my income?

I assume it would be bad to apply for the freedom now and put in a higher income

I only want the CSP because i have a semester off due to personal matters and want to rack up points for travel and get the great intro points etc...

I also wanted to get the Chase freedom to maximize the points in spending catagories ( I should have probably applied for that first) i hear that they will work with you by moving credit around if you already have a chase card

I know thats alot to read, any advice would be very much appreciated, thank you!

[Anonymous]

@lschultz260,

Your income may be too low for the CSP.  A good fico score ins't enough for it.  How does your credit file look like?  What other cards do you have?  Chase likes to see history.

[Anonymous]

I have a:
discover it, 1 year
That's it for cards, besides a debit card from my bank which doesn't count right?
What do you mean by credit file?
I'm going to be honest and say I'm very uneducated about this, I'm responsible though
My income could easily be bumped up to double what I put in the application though

[Anonymous]

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@Anonymous wrote:
I have a:
discover it, 1 year
That's it for cards, besides a debit card from my bank which doesn't count right?
What do you mean by credit file?
I'm going to be honest and say I'm very uneducated about this, I'm responsible though
My income could easily be bumped up to double what I put in the application though

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By credit file he means everything that is on your credit reports.  Any installments loans? Anything bad? If the Discover card is it, Chase is going to want to see much more before they would approve you for the CSP.  You'd have a better chance down the road for the Freedom which has lower underwriting criteria.

[Anonymous]

No nothing bad at all. Squeaky clean, just a short history.
That's interesting because I've read in forums of people getting it under worse conditions than me. My friend got it with the same exact set up as me, same history lengthy etc... Except a worse credit score and he put his income as 30,000

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:
I have a:
discover it, 1 year
That's it for cards, besides a debit card from my bank which doesn't count right?
What do you mean by credit file?
I'm going to be honest and say I'm very uneducated about this, I'm responsible though
My income could easily be bumped up to double what I put in the application though

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By credit file he means everything that is on your credit reports.  Any installments loans? Anything bad? If the Discover card is it, Chase is going to want to see much more before they would approve you for the CSP.  You'd have a better chance down the road for the Freedom which has lower underwriting criteria.

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Agreed.. An $800 discover card and a year of credit history trully isn't enough to get the CSP.  Check the chase pre-qualify and if there is a freedom card you are pre-qualified for, then take it and use it for a while before applying for the CSP.

[Anonymous]

I might just call and see if I can explain that I mistakenly only put my income from my primary job in, see if I can at least get more info. I mean I assume that wouldn't hurt to call

[Anonymous]

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@Anonymous wrote:
No nothing bad at all. Squeaky clean, just a short history.
That's interesting because I've read in forums of people getting it under worse conditions than me. My friend got it with the same exact set up as me, same history lengthy etc... Except a worse credit score and he put his income as 30,000

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It's not just history length.  Did he have more established credit in terms of accounts?  The scores are important but certainly not the only criteria.  What is your credit limit on your Discover card.  Maybe your friend had some higher limits.  We're not trying to discourage you but want you to know what chase generally looks for in CSP applicants 

[Anonymous]

That sounds very reasonable. Is it ok to change my income to correct it on the application for the freedom though? I just applied a week ago for the CSP

[Anonymous]

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@Anonymous wrote:
I might just call and see if I can explain that I mistakenly only put my income from my primary job in, see if I can at least get more info. I mean I assume that wouldn't hurt to call

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No, it never hurts to call and will give you good experience with recons.  Somewhere down the road, you'll need it again