I recently applied for the Delta Amex and Chase Sapphire Reserve and was approved for both (approvals were 1 week apart). My CL for the AMEX is $1000 and I was approved for $10k on the Chase card. Why such a huge difference??? I was under the impression (from reading several articles) that the Chase card was hard to get approved for.
The Chase card is considered a top of the line card, and the Delta Amex is considered the easiest of Amex's cards for which to qualify.
So it's illogical, except that (a) Delta Amex frequently has a low SL, and (b) Chase Sapphire Reserve never has a SL lower than 5k.
I read it was $5k from someone else who was approved- interesting.
Really? as far as I know the CSP is $5k minimum and CSR is $10k. Are you sure that person has the CSR?
I have 2 Capital One secured cards- these cards also account for the longest length of credit history. Would you suggest closing them now that I have the CSR and Delta Amex? I also have a Discover unsecured and a BOA secured.
Have you tried converting those Cap One cards to a different product? Maybe a QS or Savor? I'd try that first before closing them. Same for any other secured card you have at the moment.
The Chase Sapphire Preferred is a Visa Signature card while the Chase Sapphire Reserve is branded as a Visa Infinite card. They have different starting thresholds; the CSP is a minimum $5,000 credit limit while the CSR is a minimum $10,000 limit. So I'd agree with the previous commenter who said if your CSR approval was for $10K then you were barely approved.
So if I am successful at converting the secured cards to a different product the length of credit history stays the same? Also, should I follow any waiting period guidelines before doing this or just go for it?
Typically, when you do a product change, your history remains. I *think* the same applies when you go from secured to unsecured, but I could be wrong. I'm not familiar with that because I've never had to do it. I have done a bunch of PCs with Cap One, though.
I'm not sure what you mean by the second question. What would you need to wait on? When you said they're your oldest accounts, I figured you had them a very long time? But, if you don't qualify to unsecure them, they have very low limits and you don't need them anymore, I'd just close them. The history of those accounts will remain on your reports for 10 years even after you close them, so don't worry about losing that history at all.