Chase Sapphire Cards

[Anonymous]

Good Morning all!

So one of the next cards I would like to get is a Chase Sapphire Card. I have been on a rebuild journey and am currently hitting the 700 mark with my scores, will let this sit until September when everything should be at 700, or worst case high 600's (680+).

I have been a Chase customer for over 7 years, never had problems with my bank accounts, and always have over a thousand in savings as well.

Does bank history factor in at all? What scores are needed for these travel cards? 

I will most likely still have a couple 60 day lates from over a year and a half ago sitting on my report as goodwills have had no luck so far, but everything else is in order. What would be the odds by that point?

Thanks!

[Anonymous]

Odds are always a gamble.  Your best bet is go to a branch and ask them what you're pre-approved for.  If things are on the fence the banker can call on your behalf to get an approval.

[Anonymous]

Thanks, ya that is what I am reading as I dig around here.

Does anyone know if the requirements are much different between the Preferred and Reserve card?

[Anonymous]

Preferred is a min $2K limit

Reserve is a min $10K limit

Chase will look at your total profile and usually they like to see at least a year at the min limit being managed before giving you a card in the sapphire series.  Though there have been people w/ 0 CC's and only an AU account approved for $15K+ on the CSR.  It really depends on the mood the computer is in when you hit submit.

[Remedios]

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@Anonymous wrote:

Preferred is a min $2K limit

Reserve is a min $10K limit

Chase will look at your total profile and usually they like to see at least a year at the min limit being managed before giving you a card in the sapphire series.  Though there have been people w/ 0 CC's and only an AU account approved for $15K+ on the CSR.  It really depends on the mood the computer is in when you hit submit.

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CSP is $5000.00 min, not $2000.00. 

[Anonymous]

My bad.... I'm not sure what card I was thinking about that starts at $2000.  Chalking that up to a glitch.

[Anonymous]

The Sapphire Preferred is a Visa Signature credit card that has a minimum starting limit of $5,000.  The Sapphire Reserve is a Visa Infinite card with a minimum starting limit of $10,000.  Considering you were declined for NFCU's Flagship card which also has a $5,000 minimum - and Navy is in many instances a much more lenient and forgiving lender than Chase - it would appear at first glance that the odds of getting one of the Sapphire cards are not in your favor.

The Chase Sapphire cards are the flagship cards of the Chase consumer credit lineup and consequently have tougher underwriting standards than the Freedom cards, for example. The Sapphire Reserve in particular is marketed as a fairly exclusive card although in reality its not really that exclusive - $450 annual fee not withstanding.

[Anonymous]

Ya I figured there was some exclusiveness to them.

I am sitting on it for 3-6 months and then I will probably do the in-bank chat to see if I can get a pre-approval for either of these.

[Remedios]

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@Anonymous wrote:

Ya I figured there was some exclusiveness to them.

I am sitting on it for 3-6 months and then I will probably do the in-bank chat to see if I can get a pre-approval for either of these.

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It's not that they are exclusive, it's just that you have a few things going on...recent inq/accounts, recent derogs and your current cards are a bit on the low(ish) end at this time. 

You're an existing Chase customer, sit tight for a while, try to raise limit  on at least one card (does not have to be $5k), and check for in branch preapprovals in about 6 months. 

I'd wait til those lates are two years old.

[Anonymous]

I'm not past begging...so hit up some family that had existing chase accounts and got myself added as an AU on an existing Chase card.

Now I will let that simmer for a few months and see if some offers come in

Taking the fishing approach to this and baiting that rod a bit.