Chase Sapphire Reserve APR Question

SecretAzure · ‎10-07-2022

Hi, I am thinking of taking the plunge and applying for CSR. I see a "Just for You" offer on my account but it's offering me an APR of 21.99%. My scores are 810+ and have been for a long time so it surprised me to see that my offer was not for the lowest APR available.

Do the Myfico denizens know if I apply outside of my personal Chase account will I:
Still get the pretty much guaranteed approval?
Have a chance at an even lower APR?

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FinStar · ‎10-07-2022

@SecretAzure wrote:
Hi, I am thinking of taking the plunge and applying for CSR. I see a "Just for You" offer on my account but it's offering me an APR of 21.99%. My scores are 810+ and have been for a long time so it surprised me to see that my offer was not for the lowest APR available.

Do the Myfico denizens know if I apply outside of my personal Chase account will I:
Still get the pretty much guaranteed approval? More than likely.
Have a chance at an even lower APR? No.

See above responses.

If you PIF, regardless of high scores, then the APR should be a non-event. The pricing is determined by risk. We're obviously not privy to what Chase sees to determine why you don't qualifying for a lower APR. I would assume you're not intending on carrying a balance even if it were lower by 3-5 bps.

I would personally apply when logged in via the Chase pre-approved offer for best results. Or, you can hold off for a while and keep checking periodically to determine whether any future offers carry a lower APR. No guarantees, though.

C6 · ‎10-07-2022

Most Chase cards feature subprime rates with 19.99% being the lowest for this card. I don't think they will budge on the rate even with an 800 FICO. If you're looking for a low rate I'd go with a credit union card. If you plan to always pay in full and can make use of the benefits / rewards then accept the offer.

SDMarik · ‎10-07-2022

@SecretAzure wrote:
Hi, I am thinking of taking the plunge and applying for CSR. I see a "Just for You" offer on my account but it's offering me an APR of 21.99%. My scores are 810+ and have been for a long time so it surprised me to see that my offer was not for the lowest APR available.

Do the Myfico denizens know if I apply outside of my personal Chase account will I:
Still get the pretty much guaranteed approval?
Have a chance at an even lower APR?

Right now it's not uncommon, I don't think its an issue with you or your profile. Most issuers are upping rates right now with everything going on in the economy and the uncertainty out there, especially with cards that are very rewards heavy.

The Chase green and black check mark pre-approvals are known to be pretty solid. As long as you don't have anything on your file that would preclude you from a Chase card (like being over 5/24) you should be fine. Even being over 5/24 with a pre-approved offer from Chase, there are plenty of data points of people getting approval.