Thinking about applying for Chase Sapphire Reserve...

Anonymous · ‎02-23-2018

So I'm looking to get my first *real* credit card. I currently have two capital one cards opened in 2014 (one secured with a credit limit of 600 and one regular with a credit limit of 1700) I recently paid down a lot of debt and got my FICO scores which are:

781 - Equifax, 759 - Experian, and 708 - TransUnion (they haven't updated my balance and I still have a high utilization with them)

My annual income is $200k+

Do you guys think I'll get approved for CSR? My income and most of my scores seem ok (minus TU) but as this will be my first high end card I'm not sure.

Thoughts?

simplynoir · ‎02-23-2018

Main concern is the limits you have on your current cards. Since the CSR is going to be at minimum a $10k SL they typically like to see some experience with those types of limits. Have you by any chance checked the Chase prequal to see what popped up?

Anonymous · ‎02-23-2018

I did check the pre-qual for chase and nothing popped, however I also confirmed their prequal checks transunion which is my worst score. But after doing some research it looks like Chase checks Experian in NY (then TU secondary) When I do cardmatch I got matched for CSP.

I'm hoping I can apply for CSR, probably get denied and call the reconsideration line and talk my way in. (Household income with my wife is $300k+) If they still balk I'm hoping they'll offer me CSP (I've never called a reconsideration line so I'm not sure if its possible for them to offer me an alternative product there)

simplynoir · ‎02-23-2018

@Anonymouswrote:
I did check the pre-qual for chase and nothing popped, however I also confirmed their prequal checks transunion which is my worst score. But after doing some research it looks like Chase checks Experian in NY (then TU secondary) When I do cardmatch I got matched for CSP.

I'm hoping I can apply for CSR, probably get denied and call the reconsideration line and talk my way in. (Household income with my wife is $300k+) If they still balk I'm hoping they'll offer me CSP (I've never called a reconsideration line so I'm not sure if its possible for them to offer me an alternative product there)

Was the cardmatch an official prequalification or one of those "we think you'll like this card" kind of deals? Been awhile since I've checked that out. If you call same day you're declined and decide to go with the CSP they'll more than likely use the same HP to process the application but I would double check with the rep if it came down to that unless you're okay with it. And income won't be the issue I assure you. Just the slightly dirty TU score and limit experience.

Anonymous · ‎02-23-2018

There are some "pre-quals" but the Chase didn't say pre-qual but it was at the top of the list for recomended cards.

I sounds like I should just wait for TU to update my balance to the correct amount. When I simulate that in myFico TU shows a score of 800 (but realistically probably more like 780) It just seems like TU is dragging their feet and taking forever.

Side Note: Is the criteria similar for AMEX platinum? That's another one I've been eyeing.

Anonymous · ‎02-23-2018

Whoa! I literally just got a notification that my TU balance updated. I think I'm gonna pull the trigger on the CSR now.

TU: 797

Equifax: 781

Exp: 759

Thoughts?

simplynoir · ‎02-23-2018

Sounds like a plan especially if you're not in any rush at the moment.

AMEX Platinum is normally an EX pull with some odd ball double pulls on occasion. With your EX score and income alone they'll happily give you a Plat card. You should have no worries applying for that card now if you want.

simplynoir · ‎02-23-2018

@Anonymouswrote:
Whoa! I literally just got a notification that my TU balance updated. I think I'm gonna pull the trigger on the CSR now.
TU: 797
Equifax: 781
Exp: 759

Thoughts?

Yeah, go for it and see what Chase says. AMEX Plat too if you're still wanting that card.

Anonymous · ‎02-23-2018

Ok I applied online and got the:

"We need to review your request a little longer. We will let you know of our decision by U.S. mail. This could take up to 30 days."

I called the application status line and the recording said "We're reviewing your application and you'll be notified within 30 days"

My understanding is this is a good sign yes? (7-10 days being a bad sign)

Do I just sit and wait now?

Also if I'm interested in AMEX Platinum as well should I apply for that now? Would that potentially cause my Chase app to be denied if it was on the fence? (I'm nowhere near 5/24 btw)

simplynoir · ‎02-23-2018

@Anonymouswrote:
Ok I applied online and got the:

"We need to review your request a little longer. We will let you know of our decision by U.S. mail. This could take up to 30 days."
I called the application status line and the recording said "We're reviewing your application and you'll be notified within 30 days"
My understanding is this is a good sign yes? (7-10 days being a bad sign)

Do I just sit and wait now?

Also if I'm interested in AMEX Platinum as well should I apply for that now? Would that potentially cause my Chase app to be denied if it was on the fence? (I'm nowhere near 5/24 btw)

Yeah, that's a good sign. Means that haven't processed your application yet; might be idenity verification to simply needing time to look at the app but yes that's good news. Keep calling back til the status message changes and go from there. And as long as no other Chase products interest you at this time I would go ahead and do it if you want. Hit the AMEX prequal to be safe. You see preapprovals you're good.