Building A Relations With Chase to Get Chase Sapphire Preferred

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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adelphi_sky
 
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Building A Relations With Chase to Get Chase Sapphire Preferred

Postby adelphi_sky » Fri Feb 27, 2015 11:40 am

I had applied for a Chase Sapphire Preferred Card a few years back and got denied. my credit score was in the low 700s. I would like to try again in the future. But right now, I have a Chase Marriott Rewards Premier card and just got approved for a Chase IGH Select card (my wife loves Holiday Inn Express). I have various other cards including an AMEX Platinum card.

My question is, do banks favorably look on applicants that have one of their other products? I do know that I got approved for AMEX Platinum after having AMEX Gold. If I apply for a Chase Sapphire Preferred card after paying off the other two Chase cards, would my application then have a higher chance of being approved? All other variables being equal such as a mid-700 credit score and no late payments or judgement on my credit report.

Or does being a current customer not matter at all?


yfan
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Postby yfan » Fri Feb 27, 2015 4:35 pm

Banks have been known to have an "internal score". So yes, that may be important.

But the real question is though, what exactly can you get with the CSP that you can't get with your current card combo? In other words, why do you even want the CSP?

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nismoZtuner
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Postby nismoZtuner » Fri Feb 27, 2015 7:21 pm

Not sure.. I applied for the CSP last year (4/2014)

On August 2013 I applied for the Marriott rewards Premier for the fun of it and was approved that was my first Visa Signature card- I was 21 at the time with a score between 700-720 and only 2 years of credit history. Later on February 2014 i went to chase and opened a savings account (theyre interest is bad!!!)I kept thinking about applying for the CSP from days before so when the guy asked me if he can help me with anything else i just said f**ck it.. I was approved for $5,730
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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lobbythis
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Postby lobbythis » Fri Feb 27, 2015 8:10 pm

Yes, Chase has an internal score. So it's helping that you have those other cards as long as they are in good standing of course.

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CarefulBuilder14
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Postby CarefulBuilder14 » Fri Feb 27, 2015 9:10 pm

Chase approved me for a Freedom as my first credit of any kind. That might not have happened if I didn't have a checking account with them.

When it comes to credit limits, though, they seem to care more about seeing similar limits from other lenders than your loyalty as a customer. At least initially...giving them steady business over several years should help.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

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lobbythis
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Postby lobbythis » Fri Feb 27, 2015 11:07 pm

CarefulBuilder14 wrote:When it comes to credit limits, though, they seem to care more about seeing similar limits from other lenders than your loyalty as a customer. At least initially...giving them steady business over several years should help.


Totally agree. I helped a friend get a CSP and we tried to recon because all they gave him was the $5K base and the first thing the credit analyst said was that no other card he has is higher than $5K and that they felt that was plenty.

The analyst was kind of dick about it too.

whit
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Postby whit » Sat Feb 28, 2015 12:39 am

^if only there was a way to give direct feedback but companies probably will have too much to field..

popamode72
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Postby popamode72 » Sat Feb 28, 2015 1:23 pm

adelphi_sky wrote:I had applied for a Chase Sapphire Preferred Card a few years back and got denied. my credit score was in the low 700s. I would like to try again in the future. But right now, I have a Chase Marriott Rewards Premier card and just got approved for a Chase IGH Select card (my wife loves Holiday Inn Express). I have various other cards including an AMEX Platinum card.

My question is, do banks favorably look on applicants that have one of their other products? I do know that I got approved for AMEX Platinum after having AMEX Gold. If I apply for a Chase Sapphire Preferred card after paying off the other two Chase cards, would my application then have a higher chance of being approved? All other variables being equal such as a mid-700 credit score and no late payments or judgement on my credit report.

Or does being a current customer not matter at all?


I've been with Chase since August of last year and started out with their southwest card. Worked with it for a few months and went for AARP in October and ritz Carlton in December. Both approved after verification. Went for Amazon a month later after ritz approval after many times in the past of getting denied for it and finally getting it and earlier this month went for CSP and got the message saying id need to call them to verify things and this was on a Friday night when lending department closed. Few hours later the card showed up on my chase page with a 5k limit.

Hope that helps you. I'm taking a break from chase until the freedom 200 bonus comes out and possibly moving some limits around and even downsizing my chase line up if need be. Relationship and history with other chase products does help for CSP and I had also closed my SW card in December or January.
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)

takeshi
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Postby takeshi » Mon Mar 02, 2015 9:03 am

adelphi_sky wrote:My question is, do banks favorably look on applicants that have one of their other products?

First off, banks vary. They are not all identical. Second, while relationship may help it will not make or break an approval. It's your credit that really matters.

adelphi_sky wrote:Or does being a current customer not matter at all?

Anecdotal but my first 2 Chase cards were auto-approved within a day of each other. I was not an existing Chase customer at the time. I have not been an existing customer with most of the creditors that I hold cards with.

adelphi_sky wrote:I do know that I got approved for AMEX Platinum after having AMEX Gold.

IIRC underwriting criteria for all AmEx charge cards is the same except for the Centurion.

adelphi_sky wrote:If I apply for a Chase Sapphire Preferred card after paying off the other two Chase cards, would my application then have a higher chance of being approved?

Lower utilization is generally better with all creditors.

popamode72
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Postby popamode72 » Mon Mar 02, 2015 9:12 am

In context, I had a checking account with Chase but I really don't think that it made too much of a difference except when reconning for my closed Southwest card which was in verification and I had stressed the fact that I wanted to build a relationship with them. I don't even have it open now.
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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