Seeking insight on Chase Sapphire requirements

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5 posts
MikeMag52
 
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Joined: Mon Mar 21, 2011 12:55 pm
Location: Syracuse

Seeking insight on Chase Sapphire requirements

Postby MikeMag52 » Mon Mar 21, 2011 1:17 pm

Hi all,

New to this forum. I am seeking a rewards type credit card with a quality company. Being able to get a "real person" that speaks "English" is a priority. The reviews on the "Best" credit cards have pointed me towards the Chase Sapphire Card (with no annual fee). I have been trying to obtain some guidelines on their approval criteria. Specifically acceptable income requirements. I DO NOT want to apply only to be declined because of insufficient gross household income. If anyone has any experience in applying for this card, I would appreciate some real world feedback on what gross household income this card requires. PS - I have been a commercial lender 35 years. I know the bank cannot disclose their approval parameters.

Thanks


c0Ld
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Location: Illinois

Postby c0Ld » Mon Mar 21, 2011 4:23 pm

While I'm not sure on their income and score requirements, I can chime in that Chase tends to be very, very picky with inquiries. I know someone that got declined for having too many inquires with only 3 on their report, and they'd been banking (checking/savings) with Chase for years.

Personally, I avoid Chase like the plague. Being in a town with a local Chase branch, I've heard horror stores of their hidden fees and backhanded customer service that just simply stops helping when you're down. I'm sure there are just as many people that are happy as can be with them, though, so it's your choice of course. But I'd personally stick to Amex or Discover if you're looking for a rewards card.

jeffysdad
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Postby jeffysdad » Mon Mar 21, 2011 7:20 pm

My experience with Chase overall has been good with a few issues here and there; all of them resolved. While Sapphire offers enhanced customer service over their other cards, Sapphire rewards are not as generous as Chase Freedom. Sapphire pays 1% on everything; that's it. Freedom offers the opportunity to earn 5% on certain purchases in rotating categories subject to caps. Customer service with Freedom is not as good but is acceptable, imo.

Discover is known to be very good with customer service, using U.S. call centers, like Chase Sapphire. I've also had very good experiences with FIA card services (Fidelity Amex); whenever I've called during business hours I've gotten a U.S. call center.

American Express is another option, such as one of their Blue cards, but imo their customer service, while generally very good, is overrated.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

MikeMag52
 
Posts: 2
Joined: Mon Mar 21, 2011 12:55 pm
Location: Syracuse

Postby MikeMag52 » Tue Mar 22, 2011 8:31 am

Thanks for the reply guys! I had read somewhere that the higher end cards required certain income levels. That was the reason for my post. Like you said, Banks are becoming more "picky" on number of inquiries. I did get an "instant approval" on the app. when I applied.

Thanks again !

Keysmasher
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Location: Texas

Postby Keysmasher » Tue Mar 22, 2011 5:41 pm

From my experience (I applied for the Sapphire before and was denied), you need a good credit score (710-720+ FICO) with no lates, a decent AAoA (at the very least be greater than 1.5 years), and of course have no recent credit opened up in the last 12 months.

I don't believe there are any real "Income requirements" for this card, but it would probably serve in your best interests to write out a truthful figure in that field. Besides, if my memory serves me correctly, the Sapphire is a "Visa Signature" card and has the famous "No-Preset limit" notation. In such, each purchase made on the card is individually assessed by a computer and each balance is paid in full every month.

Although I always hear conflicting information on "Visa Signature" products as I hear they will sometimes place an artificial limit of $5000 on the card but report the limit to the bureaus as either blank or a dash.



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