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Chase Sapphire Preferred - Approval Stories

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Chase Sapphire Preferred - Approval Stories

Hello MyFico Friends,

 

I've been working on cleaning my credit files and boosting my credit scores for a few months now. About a year ago I went through a difficult time and ended up damaging almost all of my credit lines. As of today I managed to pay off some old charged off accounts and brought all open accounts back to a good standing. A goal of mine has been to get approved the the glorified Chase Sapphire Preferred card, before I decide to apply for the card in a few months i'd like to hear your stories. How was the application process for you? did you get approved on the spot and what were your scores like?

 

Thanks in advance!

 

My current Fico 8 scores are Equifax: 603 | Experian: 609 | Transunion: 611

Starting Score-(03/2017): FICO ||EX:473--EQ:445--TU:484||
Current Score--(06/2018): FICO ||EX:622--EQ:626--TU:608||
6 REPLIES 6
Frequent Contributor

Re: Chase Sapphire Preferred - Approval Stories


I got approved for CSP with a sizable SL on Friday (that's right, two days ago). I'll get back to you with a detailed description of what I did. But, off the top of my head, I'm certain your FICO scores are too low to app. I suggest some preparations to get your scores up, all of them relatively easy to do and just requiring patience.

Hasta luego.
Message 2 of 7
Valued Member

Re: Chase Sapphire Preferred - Approval Stories

I think I was pretty lucky that I recieved a CSP, combination of just dumb luck and newbie ignorance.

 

Had no credit with 2 derogs in 1/2017 with low-mid 500 scores, recieved 1st CC (Kohls) then Cap1 Plat in 3/2017 and started to learn. I just put small balances on both each month and PIF. Scores shot up to low 600's and keep rising to mid 650 and on a whim through Nerdwallet I app'd for Chase FU in 7/2017 and was approved. Scores keep rising and good use, UTL, and PIF on the Chase FU and after 90 days got prequalified for CSP and Slate (took it - same HP - FICO around 665-675 at the time). I didn't realize that I got lucky with it at the time. Chase has been great to me, I have AMEX, PENFED, and Disco products also but Chase FU and CSP are my favorites for most spends depending on reward catagories.



1/17 Fico 8 - low 500's
Message 3 of 7
Frequent Contributor

Re: Chase Sapphire Preferred - Approval Stories

Okay, I said I'd get back to you with my story and here I am. CSP was my 5th card and it was the one I wanted most. Several months ago, I opened a checking account at Chase and applied for a FU at the same time. I got the 7-10 day notice, which meant I'd been denied. At the time, I had only two cards - CO Platinum secured and another CO Platinum unsecured - which has since been PCed to QS. The unsecured one had been raised to a CL of 1,750 last November. I had been tending my two cards carefully, making sure I kept the Util very low, made sure one card was at zero every month and, when my FICO scores got up into the mid to high 600s, I went to my CU to get an auto loan (May, 17). I have a sizable tax lien that was removed from EX and EQ, but still shows up on TU. I'm in the process of having that removed. Other than that, all baddies have dropped off.

Back to my FU, which I knew had been denied: The next day, I called Chase recon and was informed that my app had indeed been denied. I sweet-talked the CSR the best I could - pointing out that I'd never missed a payment on anything, that my FICO scores were steadily rising, that I've been gainfully employed at ever increasing income at the same place for 19 years and, finally, that I would be willing to settle for an entry-level SL. That got me my FU with an SL of 1K.

And now, for my astonishing stroke of good luck: When I woke the next morning and checked my FICOs on my phone, I saw that my EX score had shot up by 74 points. Chase uses EX in California. That same day, I called a Chase CSR and requested a CLI on my day-old FU. I got my CL raised to 6K.

This February, on a whim, I called Discover to apply for a Discover IT. It was granted immediately with an SL of 6K (it was an SP, by the way). Then, I set my sights on CSP. I made many posts here asking advice and clarifying points I'd read about the card.

With my FICO scores as high as they'd ever been, last Friday I walked into my Chase branch and had the manager app for CSP. I was approved with an SL of 16.7K. I almost stained myself. Then, I walked next door to my office and apped for AMEX BCP. Got it, with an SL of 2K. I decided to app for my full trifecta and went after the Citi DC. Denied. After I get the letter, I'll probably attempt a recon, but I'm not all that interested in the card. Now, my AAoA is shot, so I'm going into the garden for up to two years. I've got the cards I wanted. I upped my total CL by 130% and, with careful gardening, I can probably double my current CL in the two years.

There it is, the "War and Peace" of apping. Good luck!
Message 4 of 7
Frequent Contributor

Re: Chase Sapphire Preferred - Approval Stories

I got approved yesterday for $8,000 SL Instant Approval @ their max APR with intro offer. Barely made it looks like. 

 

Data Points: 

15/16 months since late. 

1 Charge Off, Paid

90 Day late from 2013/14

3 30 Day Lates and 2 60 Day Lates from 2016. 

0 Balance on all cards except Military Star which was at 29% and Barclays @ 10%

4 Inquiries

They Pulled Experian Only @ 686 FICO 08

6 New Accounts (Only 4 are Credit)

AAoA Just over 5 Years

Some Accounts 1 Month Old

Income 85K 

1 Mortgage, Never Late

2 Auto Leases, Never Late, 2 Paid Auto Loans

4 Student Loans, Never Late, 115% Balance

Credit Accounts Below are Active, Most at 0 balance. 

Total Debt @ 250K

 

You'll get there, now I have to pump enough through this card without angering the Chase gods. I already set up fraud protection and autopay on the account. Hopefully it does not get pulled for financial review. 

 

 


Starting Score-(01/2017): FICO ||EX:575--EQ:549--TU:588||
Current Score--(04/2018): FICO ||EX:686--EQ:697--TU:715||




Message 5 of 7

Re: Chase Sapphire Preferred - Approval Stories

@kshurika Congrats!! let me know how the card comes packaged after recieving it.

Starting Score-(03/2017): FICO ||EX:473--EQ:445--TU:484||
Current Score--(06/2018): FICO ||EX:622--EQ:626--TU:608||
Message 6 of 7
New Member

Re: Chase Sapphire Preferred - Approval Stories


@Jesseacastillo wrote:

Hello MyFico Friends,

 

I've been working on cleaning my credit files and boosting my credit scores for a few months now. About a year ago I went through a difficult time and ended up damaging almost all of my credit lines. As of today I managed to pay off some old charged off accounts and brought all open accounts back to a good standing. A goal of mine has been to get approved the the glorified Chase Sapphire Preferred card, before I decide to apply for the card in a few months i'd like to hear your stories. How was the application process for you? did you get approved on the spot and what were your scores like?

 

Thanks in advance!

 

My current Fico 8 scores are Equifax: 603 | Experian: 609 | Transunion: 611


Hello Jesse, kind of a late reply but hopefully someone will find this helpful. 

 

I was lucky enough to get the green checkmarked offer "pre-approved" for a Sapphire Preferred after opening an investment account with them, the funny thing is, i have a 657 credit score with Equifax and 659 with Transunion and am using about 51% of my credit with my other cards, which barely total $13,000 between all of them. On top of that, I hadn't funded the investment account, I simply opened it. I have an empty chase checking account that I never use and a $500 CL Chase Freedom that I also don't use. 

So i saw the "pre-approval" and I thought "yeah right, too good to be true" but when I inspected further, sure enough it had a solid APR and a CL of $12,000. I thought there was no way I'd get approved, how odd. So I came on these forums and everyone was discussing the "green checkmark" offers from Chase, and it seems their approval is practically guaranteed for most people. Anyway, I took a chance, applied and got approved - card is on it's way and that is my story. 

Chase if you're reading this - I wasn't a good client before but now this is definitely going to bring us closer together. Goodbye Bank of America! 

Starting Score: 600
Current Score: 657
Goal Score: 720


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Message 7 of 7
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