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Chase Sapphire Preferred prospects

Regular Contributor

Chase Sapphire Preferred prospects

Hi everyone! So this is sort of hypothetical, but on 7/23/14 I am planning to apply for the Chase Sapphire Preferred card and would like to know what you guys think my chances are. Here is my (suppositional) credit profile less than 1 year from now, if all goes according to plan:

 

Scores: 700-ish

AAOA: 3yrs 8months

Income: $36,100

Inquiries: 0 for the following 12 months on all 3 bureaus, and from the year before: EQ>7 TU>4 EX>7

Installment Loans (student loans): $29,xxx

Auto Loan: $7,xxx

All revolving accounts over 1 year old

Amex BCE: $6000 (5/13)

Discover It: $1500 (5/13)

BofA Cash Rewards: $1000 (6/13)

Barclays: $2000 (1/13)

Firestone: $900 (2/13)

1 medical collection from 2009: $77, paid (attempted GW deletion, won't budge)

 

100% on-time payments, and will report 1-9% utilization for score purposes.

 

What are my chances guys? Any more info necessary? Thank you in advance for your input! Smiley Happy

 

Chase Sapphire: $10,000 | Amex BCE: $10,000 | BofA Cash Rewards WMC: $10,000 | Discover IT: $10,000

FICO: TU-767 (Discover), EX-768 (Amex pull), EQ-759
Message 1 of 17
16 REPLIES
Valued Contributor

Re: Chase Sapphire Preferred prospects

Youd probably want your scores in mid 700s... Looking at you scenario all else would be good to go...Imho Smiley Wink


GARDEN GOAL: MARCH 2014
LAST APP: 08/20/2013
---=[NORTHBOUND]=---
Message 2 of 17
Super Contributor

Re: Chase Sapphire Preferred prospects


acb5456 wrote:

Hi everyone! So this is sort of hypothetical, but on 7/23/14 I am planning to apply for the Chase Sapphire Preferred card and would like to know what you guys think my chances are. Here is my (suppositional) credit profile less than 1 year from now, if all goes according to plan:

 

Scores: 700-ish

AAOA: 3yrs 8months

Income: $36,100

Inquiries: 0 for the following 12 months on all 3 bureaus, and from the year before: EQ>7 TU>4 EX>7

Installment Loans (student loans): $29,xxx

Auto Loan: $7,xxx

All revolving accounts over 1 year old

Amex BCE: $6000 (5/13)

Discover It: $1500 (5/13)

BofA Cash Rewards: $1000 (6/13)

Barclays: $2000 (1/13)

Firestone: $900 (2/13)

1 medical collection from 2009: $77, paid (attempted GW deletion, won't budge)

 

100% on-time payments, and will report 1-9% utilization for score purposes.

 

What are my chances guys? Any more info necessary? Thank you in advance for your input! Smiley Happy

 


IMHO 

You need a little more payment history with the BCE (3 more months)

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 3 of 17
Regular Contributor

Re: Chase Sapphire Preferred prospects

Thanks for the responses! @myjourney: so i should have more than 15 months of BCE history? Because when i apply for the CSP in July '14, i will have 15 months on the BCE. Thanks again!

Chase Sapphire: $10,000 | Amex BCE: $10,000 | BofA Cash Rewards WMC: $10,000 | Discover IT: $10,000

FICO: TU-767 (Discover), EX-768 (Amex pull), EQ-759
Message 4 of 17
Super Contributor

Re: Chase Sapphire Preferred prospects


acb5456 wrote:

Thanks for the responses! @myjourney: so i should have more than 15 months of BCE history? Because when i apply for the CSP in July '14, i will have 15 months on the BCE. Thanks again!


Your sig say you got the BCE 5/13 is that wrong? You should have at least 6 months history with a TL over 5K

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 5 of 17
Moderator Emerita

Re: Chase Sapphire Preferred prospects

Idk if you'll need 15 mos of history. It's really hard to speculate since we are talking about a year from now. However, based on your information if your util and inq's are low and no baddies- you should be fine.
Message 6 of 17
Regular Contributor

Re: Chase Sapphire Preferred prospects


myjourney wrote:

acb5456 wrote:

Thanks for the responses! @myjourney: so i should have more than 15 months of BCE history? Because when i apply for the CSP in July '14, i will have 15 months on the BCE. Thanks again!


Your sig say you got the BCE 5/13 is that wrong? You should have at least 6 months history with a TL over 5K


You're right! But i'm planning on applying in July of 2014, so my credit profile above is hypothetical to what it will hopefully look like in July of 2014. So by that point, it will have 14-15 months of history by that point. Thanks!

Chase Sapphire: $10,000 | Amex BCE: $10,000 | BofA Cash Rewards WMC: $10,000 | Discover IT: $10,000

FICO: TU-767 (Discover), EX-768 (Amex pull), EQ-759
Message 7 of 17
Super Contributor

Re: Chase Sapphire Preferred prospects


acb5456 wrote:

myjourney wrote:

acb5456 wrote:

Thanks for the responses! @myjourney: so i should have more than 15 months of BCE history? Because when i apply for the CSP in July '14, i will have 15 months on the BCE. Thanks again!


Your sig say you got the BCE 5/13 is that wrong? You should have at least 6 months history with a TL over 5K


You're right! But i'm planning on applying in July of 2014, so my credit profile above is hypothetical to what it will hopefully look like in July of 2014. So by that point, it will have 14-15 months of history by that point. Thanks!


In that time you can get a lot of cards LOL

But 6 months of payment history will do Smiley LOL

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 8 of 17
Community Leader
Senior Contributor

Re: Chase Sapphire Preferred prospects


09Lexie wrote:
Idk if you'll need 15 mos of history. It's really hard to speculate since we are talking about a year from now. However, based on your information if your util and inq's are low and no baddies- you should be fine.

+1

 

Anything can change within that timeframe and if you play your cards right (no pun intended), then it's fair to say the goal is achievable.  Theoretically, if everything was a constant and not much changed other than history/scores in a positive direction (assuming no utilization spikes, AAoA hits, no derogs/late payments, etc.); and as Lexie mentioned - it's likely feasible.

Message 9 of 17
Regular Contributor

Re: Chase Sapphire Preferred prospects

Smiley Happy So would it be possible to apply by January '14 when all my accounts are over 6 months? Also, my BCE will likely only be at the $3,000 limit so that might be a hindrance correct?

 

Chase Sapphire: $10,000 | Amex BCE: $10,000 | BofA Cash Rewards WMC: $10,000 | Discover IT: $10,000

FICO: TU-767 (Discover), EX-768 (Amex pull), EQ-759
Message 10 of 17