Plan on applying for the Chase Sapphire Preferred

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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Gb24
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Plan on applying for the Chase Sapphire Preferred

Postby Gb24 » Tue Sep 02, 2014 1:09 pm

I have a score of 649, due to some pass due bills a few years ago, all of which have sense been paid off.
Im 24, in school and graduate next may.
I already have a full time offer.

I currently make around 40k a year at a part time job.
I have other cards, my credit utilization is around 9%

I plan on applying for the Chase Sapphire Preferred at the end of the year.

Any thoughts?


popamode72
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Postby popamode72 » Tue Sep 02, 2014 2:02 pm

I think if you keep working on getting your score up if that's a FICO then you may have a shot at it. There's always recon just in case you dont get approved.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

marlonbishop
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Postby marlonbishop » Tue Sep 02, 2014 6:51 pm

Gb24 wrote:I have a score of 649, due to some pass due bills a few years ago, all of which have sense been paid off.
Im 24, in school and graduate next may.
I already have a full time offer.

I currently make around 40k a year at a part time job.
I have other cards, my credit utilization is around 9%

I plan on applying for the Chase Sapphire Preferred at the end of the year.

Any thoughts?


pull the trigger you should be ok with that approval!
BoA Cash Rewards $4000
Macy's $1000
Discover it $5000
Chase Sapphire Preferred $5000
Chase Freedom $2000
Amex Green NPSL
Amex Gold Premier Rewards NPSL

Find me on MyFico: Sapingo (if you see me say hello)!

Gb24
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Postby Gb24 » Tue Sep 02, 2014 9:15 pm

Should I wait til the end of the year though?

CC Deville
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Postby CC Deville » Tue Sep 02, 2014 10:05 pm

Gb24 wrote:Should I wait til the end of the year though?


What will waiting 3 more months do? What other cards do you have? Any with a limit of $5,000 or more?

A FICO (Experian) of less than 650 isn't really prime territory. I would make sure that you have at least one credit card (that you are primary on and not an auth user) that has at least a $5,000 limit (Sapphire Preferred is a Visa Signature and as such, requires a $5K limit-Chase does not like to be your first $5K+ issuer) and I would wait until you are at an Experian FICO of 670 or higher before applying.

Also, use their pre-approval tool on the website first before you do anything to give you an idea about what you may be approved for. With a 649 I have to figure if they approved you for anything it would be a Slate, Freedom, Disney or Amazon with a $500-$1,000 limit.

Why not wait until next June? You will be a year wiser, employed full time and hopefully with a higher FICO score. That is just my two cents. Let us know what you decide and the outcome.

marlonbishop
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Postby marlonbishop » Tue Sep 02, 2014 11:35 pm

Gb24 wrote:Should I wait til the end of the year though?


i would not wait
BoA Cash Rewards $4000

Macy's $1000

Discover it $5000

Chase Sapphire Preferred $5000

Chase Freedom $2000

Amex Green NPSL

Amex Gold Premier Rewards NPSL



Find me on MyFico: Sapingo (if you see me say hello)!

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nismoZtuner
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Postby nismoZtuner » Wed Sep 03, 2014 4:04 pm

CC Deville wrote:A FICO (Experian) of less than 650 isn't really prime territory. I would make sure that you have at least one credit card (that you are primary on and not an auth user) that has at least a $5,000 limit (Sapphire Preferred is a Visa Signature and as such, requires a $5K limit-Chase does not like to be your first $5K+ issuer) and I would wait until you are at an Experian FICO of 670 or higher before applying.


I respectfully disagree, Back when I applied for my Marriott Rewards Premier Card which is a Visa signature I did not have any of my current cards with a limit higher than $2,500-3K besides my PRG which does not have a preset limit. When I applied for my MRP my FICO Score was a 732-40 (cant remember exactly) my reported income was $30k. I was instantly approved with a CL of $5K. 5-6 months later I decided to apply for the CSP and was instantly approved inside a chase bank- I was approved with a limit of $5,800 - 4 months later (last month) I received an auto limit increase to $7,300.. but yeah I guess its just myth.. or depends by them..
TU 752 (+4) - [5/9/2014] CK 726 - [11/24/14] EX 725 - [11/20/14] EQ 710
BankofAmerica Cash Rewards [2k] I American Express Blue Cash Everyday [3K] l Discover IT[2.5]
American Express Premier Rewards Gold [NPSL] I Marriott Rewards Premier [5k]
Chase Sapphire Preferred[7.3]
Inquires: TU(?) EX(?) EQ(?)
TCL-$19,800
Age-22

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sicasun
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Postby sicasun » Wed Sep 03, 2014 4:54 pm

I think you have a pretty good chance at CSP.

I haven't applied for one myself yet, but from what I've read of other people's experience, you seem to be within the range of approval. I personally think it helps if you are already a Chase customer (not sure what your other cards are).

Chase Sapphire Preferred | 09/2014 | $10,300
Chase Sapphire | 05/2010 | $5,000
Chase Freedom | 01/2013 | $5,500
CapitalOne Quicksilver | 01/2013 | $2,500
American Express TrueEarnings | 08/2014 | $5,500
Victoria's Secret Angel Card | 04/2011 | $600

FICO | 09/2014 | Experian 738 | Equifax 706 | TransUnion 701

Gb24
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Postby Gb24 » Wed Sep 03, 2014 5:24 pm

CC Deville wrote:What will waiting 3 more months do? What other cards do you have? Any with a limit of $5,000 or more?

A FICO (Experian) of less than 650 isn't really prime territory. I would make sure that you have at least one credit card (that you are primary on and not an auth user) that has at least a $5,000 limit (Sapphire Preferred is a Visa Signature and as such, requires a $5K limit-Chase does not like to be your first $5K+ issuer) and I would wait until you are at an Experian FICO of 670 or higher before applying.

Also, use their pre-approval tool on the website first before you do anything to give you an idea about what you may be approved for. With a 649 I have to figure if they approved you for anything it would be a Slate, Freedom, Disney or Amazon with a $500-$1,000 limit.

Why not wait until next June? You will be a year wiser, employed full time and hopefully with a higher FICO score. That is just my two cents. Let us know what you decide and the outcome.


I do not have any cards with a 5k limit

popamode72
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Postby popamode72 » Wed Sep 03, 2014 7:10 pm

Gb24 wrote:I do not have any cards with a 5k limit


I didn't have any 5k limit cards when getting my Visa Signature card with Chase. Highest credit limit that was on my EX report was about 2k, though that was my old starting limit for my Amex Delta card and I was pretty shocked when I found out.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)



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