I currently have solid scores - 732 from Wells Fargo FICO, 743 from TU, 747 from EQ, 720 from EX... but I had four late payments; two in 2018 and two in early 2019. It's been 24 months since the last late, and I have 2% UTL.
I'd like to get the Sapphire Preferred and (the Marriot Bonvoy Boundless) but I'm hesitant to risk the HP, if the lates are going to effect me.
Back in Sept of 2020, I did get a CLI on my Chase FU but only after I called the reconsideration line and they cited the missed payments (on a different bank; I've never been late or missed payment with Chase).
Thoughts on this? Do let the lates age more? Or is 24 months effectively sufficient?
Starting Score: 447 - 5/2019, FICO 9 by Wells Fargo
@Roy-Batty-6 wrote:I currently have solid scores - 732 from Wells Fargo FICO, 743 from TU, 747 from EQ, 720 from EX... but I had four late payments; two in 2018 and two in early 2019. It's been 24 months since the last late, and I have 2% UTL.
I'd like to get the Sapphire Preferred and (the Marriot Bonvoy Boundless) but I'm hesitant to risk the HP, if the lates are going to effect me.
Back in Sept of 2020, I did get a CLI on my Chase FU but only after I called the reconsideration line and they cited the missed payments (on a different bank; I've never been late or missed payment with Chase).
Thoughts on this? Do let the lates age more? Or is 24 months effectively sufficient?
Are you able to stop into a branch? A personal banker can run you for pre-approval. Their in branch pre-approval decisions are generally a pretty solid indicator of if it's worth it to pull the trigger. If you're under your 5/24 mark I think you'd be ok as long as it's just the lates on your report and nothing else, but honestly it's really hard to say. Good luck with whatever you decide to do and let us know how it turns out!
+1 on going to a branch if you can.
And while I didn't have lates, I did have defaulted student loans when I applied for a CSP (with lower scores than you) and got a really good approval. Granted, it was before this recession/depression/COVIDfinancial landscape, but still, I would think defaults are worse than lates 
Yes, I'm near a branch. I'm planning on opening a business account at Chase next week, so I can do the pre-approval check with a banker then, and see what they say. Was also considering getting a Chase Ink CC for my business provided I can get approved for the CSP.
There's no other derogs on my credit files; just the missed payments for when I was unexpectedly out of work and fell behind. I do have a personal loan that I was only able to make the minimum payments on (always on time) the last 18 months, but recently I've been doing 3X payments (courtesy of a new job with 3X income).
I'll let you know what happens.
Is going to the branch for a pre approval the same as going to the www.chase.com/prequalified site? I never get any prequals from them and I think I have a decent profile with no derogs. Anyway, was jw if there's a better shot when going to the branch.
Good luck OP! Let us know how it goes.
I went to a branch last week to open my business account, asked if Chase would run a pre-qual, and was told Chase doesn't do that. In fact, he'd have to do a hard pull for the CSP as well as Chase Ink Business (as one can avoid the monthly fee if you spend over $2000/month on the Ink card); so TWO HARD PULLS. I declined because I know in a few days my scores will update to over 750 on all three bureaus (so "excellent" credit). I still want to see if I can breach 760, before going for the CSP so the hit doesn't drop me below 750.
