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Hi all,
I had a quick question about Chase credit card approvals. I applied for the Chase Sapphire Preferred card and its pending approval. My reason for doing so is that I'd like to be able to transfer UR from my Chase Freedom card to FF programs along with the 2x multiplier for restaurants and hotels.
I have CPC checking, a brokerage account with ~$100K, and a Chase Freedom card ($1500 CL). The Chase Freedom card is old and they refused to increase my credit limit last year two months after I started my new gig. I've always PIF for the last three years and for a while it was multiple times per month before I opened other credit accounts. I was in school for the previous two years so income was slim to none. Income is now in the ~$400-$500K range. I've moved a lot of my spend to my AMEX Green Card ($10-$15K/mo) and would like to find a way to make better use of Chase. Credit scores are anywhere from 670 to 690.
The reason I tell you all of this is I wanted to know if Chase will take into consideration other factors besides my credit score when reviewing whether or not to approve me for the Chase Sapphire Preferred card. Does anybody have a similar experience to me? Would love to know your thoughts ..
I didn't get denied yet, as far as I know. Application was submitted Friday evening. Don't you have to wait until you are denied to recon? I've never done it before.
Thanks for your help rtw. I called and the lady on the line told me it will take two weeks to review my application. I asked if they had all of the information they need by pulling up my Chase account information and she said yes. Perhaps I didn't ask the right questions?
I'm an AU on a second Chase Freedom Visa Signature card that my father opened (as a joint account) to help with business expenses last year after my CLI from Chase got denied. I was later approved for AMEX Green and moved 75%+ of my spend to this card. It is my understanding though that this reports a NPSL card so wouldn't show a limit to Chase. My spending ability is far higher than $5K on AMEX. I was unaware of the CSP minimum limit so I imagine this will not help my case. We'll see!
TM82 - I applied online. Should I have applied through my banker? It was my understanding that bankers can't do much when it comes to credit card applications.
@Anonymous wrote:TM82 - I applied online. Should I have applied through my banker? It was my understanding that bankers can't do much when it comes to credit card applications.
Call your CPC private banker. He/she will have options for you that normal customers won't have access to. As a CPC client, you're guaranteed access to any card Chase/JPM offers (including the Palladium card). Your CL can be issued as a percentage of your invested portfolio with them.
Just out of curiosity, how much did they have you deposit to open your CPC account? I've been hearing varying numbers tossed around lately.