Chase Sapphire Preferred Approval Chances

[Invictus2905]

I am finally under the 5/24 and with my credit file being significantly better than it has been, other than one last CO dropping off EQ, I would like to move on to more premium cards. I would like to see what everyone thinks my approval chances are in getting the Chase Sapphire Preferred. I am in FL if that matters from what CB they pull. I also have checking with Chase. 

No derogs on EX and TU. 1 CO expected to drop from EQ in July. I am terrified to call them and ask for an EE. 

AAoA: 4 years 2 months 

Current DP's 

Fico 8

EX: 744

EQ: 627

TU: 740

All Accounts (installment, student loans, auto loans, CC): 

EX: 0/3, 2/6, 4/24

EQ: 1/3, 2/6, 6/12, 9/24

TU: 0/3, 2/6, 5/12, 9/24

CC accounts are all 4/24 

Inquiries (did some car loan shopping and refinancing in the last 24 months): 

EX: 0/3, 3/6 (all three are for car refinance within same day), 5/12, 10/24 

EQ: 0/3, 1/6, 3/12, 10/24

TU: 0/3, 2/6, 4/12, 8/24 

Current CC's: 

Apple: $5,250

QS: $700

Spark: $700

Merrick: $2,000

Avant: $500

Kohls: $1,000

Utilization: 2%

If I left anything pertinent out I am happy to add it. 

[MrDisco99]

Chase pulls EQ and EX whenever I apply with them.  I would wait for that derog to fall off your EQ before applying.

[Invictus2905]

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@MrDisco99 wrote:

Chase pulls EQ and EX whenever I apply with them.  I would wait for that derog to fall off your EQ before applying.

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Good to know! I'll definitely do that. 

Other than that do you think my file would lean towards an approval? 

[EAJuggalo]

No, I don't think you're there yet.  How old is your Apple Card?  That is the only card you have with a 5k limit that is the minimum for a CSP.  High inquiries, limited profile and not much experience with larger credit lines would make me think no.  You would probably get approved for a Freedom Flex or a Freedom Unlimited as soon as that CO is gone.  My recommendation would be to get one of those and then get an offer for the CSP after 6 months.

[bigseegar]

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@EAJuggalo wrote:

No, I don't think you're there yet.  How old is your Apple Card?  That is the only card you have with a 5k limit that is the minimum for a CSP.  High inquiries, limited profile and not much experience with larger credit lines would make me think no.  You would probably get approved for a Freedom Flex or a Freedom Unlimited as soon as that CO is gone.  My recommendation would be to get one of those and then get an offer for the CSP after 6 months.

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Agreed. I don't think your current DP's lend toward an approval for this somewhat Premium card. You only have one prime card with a decent CL. The rest are Subprime or starter cards with starter CL's. Like stated above after the CO drops maybe a lesser Chase card but not the Sapphire.

[coldfusion]

1) Call Equifax and request EE on that derog.

2) Your only existing card that has a CL anywhere near the $5K mininum SL for the CSP is the Apple Card you were approved for a few months ago and just got the CLI earlier this week to get it over $5K.   Your odds of approval would be much better if you waited at least another several months before applying.

3) Work toward the card you want.  Don't apply for a Freedom-class card just because you can or you think having one will make it easier for you later to get approved for a CSP, apply for it because you can actually use it.

[Invictus2905]

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@coldfusion wrote:

1) Call Equifax and request EE on that derog.

2) Your only existing card that has a CL anywhere near the $5K mininum SL for the CSP is the Apple Card you were approved for a few months ago and just got the CLI earlier this week to get it over $5K.   Your odds of approval would be much better if you waited at least another several months before applying.

3) Work toward the card you want.  Don't apply for a Freedom-class card just because you can or you think having one will make it easier for you later to get approved for a CSP, apply for it because you can actually use it.

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Thanks! I like this advice! I agree with needing to establish more history with a higher limit. That makes sense. I don't want to waste getting a new account on something I don't really want and have already established an relationship with chase through checking and savings so hopefully that will swing in my favor from that standpoint. 

[Remedios]

Once that derog is gone from EQ, you have a decent chance of getting approved.

There are a lot of myths that perpetuate themselves, so nothing I can do about that, but Chase will approve CSP even if you don't have a card with $5000.00 limit, which you do. 

Also, you don't have too many accounts, so that "tells" them their card will be used. They can be somewhat sensitive to length of credit history ( revolving accounts), if your oldest card is past it's first birthday, you have no more derogs, just give it a try.

Also, a good choice to not saddle yourself with "lemme get freedom to get my foot in the door" if you have no use for them, they just take up valuable 5th card spot.

Without derog on EQ, you have a decent shot at CSP, Chase isn't boogeywoman. 

[SouthJamaica]

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@Invictus2905 wrote:

I am finally under the 5/24 and with my credit file being significantly better than it has been, other than one last CO dropping off EQ, I would like to move on to more premium cards. I would like to see what everyone thinks my approval chances are in getting the Chase Sapphire Preferred. I am in FL if that matters from what CB they pull. I also have checking with Chase. 

No derogs on EX and TU. 1 CO expected to drop from EQ in July. I am terrified to call them and ask for an EE. 

AAoA: 4 years 2 months 

Current DP's 

Fico 8

EX: 744

EQ: 627

TU: 740

All Accounts (installment, student loans, auto loans, CC): 

EX: 0/3, 2/6, 4/24

EQ: 1/3, 2/6, 6/12, 9/24

TU: 0/3, 2/6, 5/12, 9/24

CC accounts are all 4/24 

Inquiries (did some car loan shopping and refinancing in the last 24 months): 

EX: 0/3, 3/6 (all three are for car refinance within same day), 5/12, 10/24 

EQ: 0/3, 1/6, 3/12, 10/24

TU: 0/3, 2/6, 4/12, 8/24 

Current CC's: 

Apple: $5,250

QS: $700

Spark: $700

Merrick: $2,000

Avant: $500

Kohls: $1,000

Utilization: 2%

If I left anything pertinent out I am happy to add it. 

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I would wait until your EQ score catches up with the others.

[Trini88]

My husband got approved for the CSP last month.

His DPs: They pulled EX 676 in NV, 3 derogs, his cards showing on file was his two $600 Cap One cards at the time, 1 $2000 Apple card, 2 AU cards: my FNBO ($4400) and Lowes ($2037). He was approved a few weeks before the CSP for a $6000 Discover and $5000 Amex (both wasn't on his report at the time).

He applied for the CSP and got approved for $5300 and I only think it was possible because he was preapproved for the CSP, CFU and CFF in the Chase app.