Re: Sapphire Preferred vs Reserve-Will I get appro... - myFICO® Forums

Anonymous · ‎11-17-2018

Credit scores all between 695-710 for three bureaus. Declined for Preferred about six months ago. Just building my credit then and only had a Quicksilver One with 2000 limit at the time. Now, in addition to the QS1 I have Cap One Venture One with 7000 limit, Amex Gold and Amex BBP with 2000 limit. With that I have hit three cards in past 24 months (BBP doesn’t count against 5/24) and want a CSP or CSR along with an Ink Cash or Ink Preferred before I go for anything else (looking at AMEX SPG cards after Chase). Those two would put me at 5/24 limit.

Really want in on UR ecosystem. Which of CSP or CSR should I apply for? Asking more about approval odds than anything else. Not value prop. Would prefer CSR if I could get it. Thoughts? Advice? Thanks!!

FinStar · ‎11-17-2018

Without having much experience with revolving tradelines in the $10K range, the CSR would likely be out of reach for now.

What were the reasons cited for the CSP denial? How many new accounts have been opened in the past 6-12 months?

Anonymous · ‎11-17-2018

Honestly don’t remember reasons for denial. I currently have four cards. QS1 opened about 15 months ago, Venture One about 4 months ago. Amex Gold 1 month ago and BBP 2 weeks ago.

Anonymous · ‎11-17-2018

CSP should be easier than CPR. As the CSP is a signature card min 5K limit. CSR is an infinite card min 10K min limit. Check chase site and see if you are prequalified or go into a branch and check with a banker and see if any prequalified offers show up.

Anonymous · ‎11-17-2018

Hey,

Go for the CSP first then, after 1 year, product change to the CSR - that's exactly what I am doing (I was approved in August I believe, completed the SUB in September now I am just waiting to upgrade).

The CSP is easier to get approved for so, if you are not too sure that you will get approved for the CSR, go with the CSP. Like it was mentioned before, the CSR requires an initial credit line of 10k (Visa Infinity) and the CSP 5k (Visa Signature) so if you don't have much experience with high credit lines (above 10k) it will be hard for Chase to approve you for the CSR but, of course, not impossible. I would still apply for the CSP then product change.

MrPSS · ‎11-19-2018

@Anonymous wrote:
Hey,

Go for the CSP first then, after 1 year, product change to the CSR - that's exactly what I am doing (I was approved in August I believe, completed the SUB in September now I am just waiting to upgrade).
The CSP is easier to get approved for so, if you are not too sure that you will get approved for the CSR, go with the CSP. Like it was mentioned before, the CSR requires an initial credit line of 10k (Visa Infinity) and the CSP 5k (Visa Signature) so if you don't have much experience with high credit lines (above 10k) it will be hard for Chase to approve you for the CSR but, of course, not impossible. I would still apply for the CSP then product change.

I 2nd that!

Go for the CSP. You get the AF of $95 waived the first year + the sub. Then, PC to CSR in 1yr if you still see it worth the value by then. By doing this, you get a fee free CSP for a year with all of the benefits of UR, including the powerful 1:1 transfer to other travel partners.

Good luck and keep us posted on your decision. You're going to love the CSP!

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