Help! Chase Sapphire Preferred Approval Odds?

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zz91
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Help! Chase Sapphire Preferred Approval Odds?

Postby zz91 » Fri Jul 10, 2015 5:25 pm

My Transunion Credit Score/Equifax are both 721.

Hi Guys! I am hoping you can help me out. I applied for the Chase Sapphire Rewards Credit Card online, but after I did that they told me my application was pending and I needed to call them. After I called them, I verified my identify, and then before they could even say anything told them to change my SSN number on the application because I realized I had a typo in entering it. After this, they came back and told me they would review my application and let me know within 14 days, and that I had to fax them in a copy of my government issued ID. Right after I got off the phone with them, I faxed them my driver's license and SS Card.

My CK is 721 currently, I have a car loan that's been outstanding since May 2013, I have a Best Buy Credit Card with a $2,000 limit that I have $700 that has been outstanding since March 2015 (I bought a laptop on it), and I have a Barclays Apple Rewards Card with a $4,000 limit I also got in March 2015 but have never used once (I thought I was going to buy a Mac, but changed my mind, would use this card but don't want the rewards they offer--just apple gift cards). ALL my payments have been made on time in each month and I have never defaulted once.

My question then is, what are my chances of getting approved? Or will I be denied? And if I am denied, will this hurt my credit score or will it go on it?

Also, if you don't think I will be approved, I have been prequalified for the Capital One Venture Credit Card. Should I apply for this one right now or wait?
I'm new to all of this. Thanks!

Thanks so much again!


whit
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Re: Help! Chase Sapphire Preferred Approval Odds?

Postby whit » Fri Jul 10, 2015 10:08 pm

If anything it's probably the typo in your social that's giving cause to why it's taking so long. It may be a simple error on your part but it's not something Chase takes lightly. Even entered correctly if they can't easily verify the info they will give you the 7-10 days while research is done (a little I'm assuming) and than they would reach out to you to get documents supporting info you gave

All about knowing their customers to make sure they're not haboring any fugitives and of course still making sure they're being responsible in lending and extending credit.

You only have a car auto loan, the best buy and the Apple Barclay card open on your credit file?

There may be a good chance you get approved, maybe not, hard to say/ no one wants to or at least I sure as heck don't want to, give you any impression otherwise of whether you will be approved or decline

I think its best to take it one at a time unless u want both cards. Just to wait and see what chase says and if not, then apply for the capital one

Keeping in mind, folks who have been prapproved as been declined before

Whatamuji
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Re: Help! Chase Sapphire Preferred Approval Odds?

Postby Whatamuji » Fri Jul 10, 2015 11:57 pm

From what others have said on this forum concerning the CSP you might not get it if you don't have a card with a $5000 CL at the moment. Not sure how strict they are with that rule of thumb so you might get by with that 4k CL on your one card. Also from what I've read about the Venture card it is inferior to the CSP and I would personally not get a Venture card if I could get a different card for travel.
Kohls: $300, Discover IT: $1.8k, Capital One Quicksilver: $2k, Amazon Store Card: $2.2k, BoA Cash Rewards: 1k, Chase Freedom: 3.2k, AMEX HHonors 3k

zz91
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Re: Help! Chase Sapphire Preferred Approval Odds?

Postby zz91 » Sat Jul 11, 2015 2:10 pm

Thank you so much!

This helps a lot. I faxed them my IDs, now am just waiting on a reply from them. It's scary because you never know if they got the fax either haha!

I hope I get approved, because I am very responsible with my credit and have never over utilized or over extended. I just like the rewards I could get with CSP better.

It's just the awful waiting game now!

ingramjuan
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Re: Help! Chase Sapphire Preferred Approval Odds?

Postby ingramjuan » Sat Jul 11, 2015 3:42 pm

I wouldn't apply for the capital one card until you know if you are going to get the Chase card.
CARDS:
Capital One Platinum (2001) |Capital One QuickSilver World (2002) | Amex Gold Delta (2013) | Best Buy Visa (2013) |Discover It (2015) | Amex Platinum (2015)

Gardening Since: June, 2015

Next Cards:
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Business: Amex Plum
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zz91
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Re: Help! Chase Sapphire Preferred Approval Odds?

Postby zz91 » Tue Jul 14, 2015 4:13 am

So I faxed last week my photo ID to them, and I know I am supposed to wait to hear back in writing my approval. Do you think they got my fax with my documentation, or would you suggest calling them and asking if they got it? It said the fax was successfully delivered, but I guess once again just hate the waiting game and unknown.

Thanks so much!

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kcm7
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Re: Help! Chase Sapphire Preferred Approval Odds?

Postby kcm7 » Tue Jul 14, 2015 8:48 am

zz91 wrote:So I faxed last week my photo ID to them, and I know I am supposed to wait to hear back in writing my approval. Do you think they got my fax with my documentation, or would you suggest calling them and asking if they got it? It said the fax was successfully delivered, but I guess once again just hate the waiting game and unknown.


How many total days have you been waiting? My sister was in a similar situation recently and after 10+ days with no word, she called the issuer (Cap One) and, nope, they hadn't gotten her fax, somehow (even though she knows it sent successfully).
Cards:

-Capital One Quicksilver
-Barclaycard Arrival (no AF)
- US Bank (no rewards)
-IHG

Vermonster
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Re: Help! Chase Sapphire Preferred Approval Odds?

Postby Vermonster » Tue Jul 14, 2015 11:28 am

The confirmation you received was only a computer saying it received the message. Most incoming faxes either get printed and put in a basket, or held in a queue until someone sees it. It is always best to call and tell someone you just faxed it over so they can physically direct it to the right person/department. Make them put you on hold and wait while they do it.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

zz91
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Re: Help! Chase Sapphire Preferred Approval Odds?

Postby zz91 » Tue Jul 14, 2015 12:40 pm

I faxed it to them last Thursday, do you think I should wait a little long or call right now? I'm just afraid it would come off as desperate haha, which isn't the case I've read many similar stories about faxes not going through.

Thanks again guys!

zz91
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Re: Help! Chase Sapphire Preferred Approval Odds?

Postby zz91 » Tue Jul 14, 2015 2:22 pm

GREAT news! Wow Chase is awesome when it comes to customer service!

I called their regular application line, told them I faxed in my ID and hadn't heard anything, so they transferred me to their versification department, who only asked me two questions and I was instantly approved for 5K with my credit card coming in the mail within 7-10 Days.

I'm so excited! Thank you guys again for all your help! Glad there is a happy ending :)



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