Sapphire reserved with BK

[Anonymous]

Hi all, new here!

filed and discharged BK in mid mid 2011 (burned chase for 4K)

started to rebuild my credit with Cap one and now I have the following CC and limits...

cap 1 Quicksilver 13k 

cap 1 platinum 11k

Cap 1 gold Buisness 23k

diacover 10k

CHASE Freedom unlimited 5k which I got through reconsideration in 2016 (weird I know but I do have multiple personal and Buisness acount with them)

about 2 years ago I refi my house - original loan started in 2015

had few leased cars throughout the year with the current one opened in July 2019

all of my cards were maxed and score was in low/mid 600

last month I paid them all off and my current Fico 8 is 735-745 across the board

i want to get the Sapphire reserved, should I try to upgrade my Freedom card or apply for new Sapphire reserved?

thank you!

[Remedios]

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@Anonymous wrote:

Hi all, new here!

filed and discharged BK in mid mid 2011 (burned chase for 4K)

started to rebuild my credit with Cap one and now I have the following CC and limits...

cap 1 Quicksilver 13k 

cap 1 platinum 11k

Cap 1 gold Buisness 23k

diacover 10k

CHASE Freedom unlimited 5k which I got through reconsideration in 2016 (weird I know but I do have multiple personal and Buisness acount with them)

about 2 years ago I refi my house - original loan started in 2015

had few leased cars throughout the year with the current one opened in July 2019

all of my cards were maxed and score was in low/mid 600

last month I paid them all off and my current Fico 8 is 735-745 across the board

i want to get the Sapphire reserved, should I try to upgrade my Freedom card or apply for new Sapphire reserved?

thank you!

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You cannot upgrade, because CSR requires $10,000.00 as a minimum limit. 

If BK is off your reports, you can try applying. 

If it's still on your reports, Chase has changed their policies and no longer will approve while BK is still present. 

[Anonymous]

So it was changed after 2016? Since I got my FU in 2016

also, if I will be able to raise my limit on the FU to 10k, can I upgrade then?

[Anonymous]

You could check their prequel site to see if anything pops up or try going inside a bank to see if there are in branch offers.   Your relationship worked for you few yrs back and could work for you again but CSR is a long stretch. Possibly a CSP and potential upgrade after a year. 

Just my thoughts. 

[AverageJoesCredit]

With a bk showing, CSR isnt going to happen imo.

[Remedios]

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@Anonymous wrote:

So it was changed after 2016? Since I got my FU in 2016

also, if I will be able to raise my limit on the FU to 10k, can I upgrade then?

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Yes, it changed in 2018.

If you can get increase to $10,000.00, then you could do a product change. 

I wouldn't go that route, because your BK should be gone soon.

Once it's off your reports, if you're approved, you'd be eligible for SUB.

If SUB is not important to you, then upgrade once the limit meets criteria. 

[Anonymous]

Sorry for the ignorance but what is SUB?

[AllZero]

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@Anonymous wrote:

Sorry for the ignorance but what is SUB?

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@Anonymous  Sign Up Bonus.

Common Abbreviations

[Anonymous]

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@Anonymous wrote:

Sorry for the ignorance but what is SUB?

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sign up bonus 🙂

[JR_TX]

I'd stay put if I were you.

You're most likely not gonna get a $5K CLI from them with your BK on file still present  and the current economic climate!

You'll just burn a HP and risk getting an FR or at least unwanted attention for app'ing.
Just tough it out and ride it out for the remainder of your BK sentence and you're most likely to get approved for the CSR with a much better SL and oh with a SUB to go along with it.

Best of Luck!