Chase Sapphire Requirements

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
57 posts
whit
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Postby whit » Fri Sep 13, 2013 11:19 pm

I would go into the bank and ask why

I think having applied with a banker in branch is better then on your own because you want someone held accountable for it--bankers, smart ones anyways would work hard to get it approved

Even if its only a cc

You should call in and ask what exactly does that mean, they would not mind telling you--depending on the analyst you get, I would escalate if you feel they aren't giving adequate answer or if they seem to just pitter patter

Did you apply for the sapphire or sapphire preferred? Sapphire preferred is harder to get and I can't remember if both starts at 5k credit line but sapphire preferred definitely does--which means if you can't get a cc with a CL of 5k or more you will get denied.

They look at a lot of different factors as said[sapphirepreferred].[/sapphirepreferred]

For the person who is CPC/chase private client, those in that program gets a special look at the application (proving thus again it's not always about credit score solely or utilization) it's about assets as well

If you're not CPC since that only applies to a certain percentage (250k or more in deposits AND investments)

You can still try for special consideration if you hold 10k or more in deposits with Chase


flan
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Postby flan » Sat Sep 14, 2013 3:21 pm

whit wrote:Did you apply for the sapphire or sapphire preferred? Sapphire preferred is harder to get and I can't remember if both starts at 5k credit line but sapphire preferred definitely does--which means if you can't get a cc with a CL of 5k or more you will get denied.


That's not what my banker told me. He claims they both have the same underwriting criteria. So if you can get one, you can get the other, assuming you can the required minimum credit limit.

whit
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Postby whit » Sat Sep 14, 2013 4:36 pm

That's funny, maybe it is true

I just know that a CPC banker told me he was going to upgrade to the preferred after awhile..when his credit was slightly better

That's what made me think that preferred was a bit harder to get

I imagine now that he has gotten promoted to CPC financial advisor that he would, since he tends to take trips in Europe yearly

Malt
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Postby Malt » Sun Sep 15, 2013 4:36 pm

I can tell you that you definitely don't need an income of $120,000 to get this card as mine is less than half that and I just got approved last week. 5 Inquiries on EX and 8 on EQ, they pulled both EX and EQ. EX FICO of 728 and an EQ FICO of 761. I was approved for the Sapphire Preferred instantly with a limit of $5000.

It might of helped that I got a Freedom card in January and I've run over $10,000 through it, always paying in full. I'm they think they can make even more money off me from swipe fees ;)

takeshi
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Postby takeshi » Mon Sep 16, 2013 1:03 pm

Keysmasher wrote:ugh, got a letter from Chase a few days ago and I was denied. The reason for denying my application was as stated:

Which doesn't make sense because the only account that I have under MY name (not as an authorized user) is a Student credit card with a $300 limit.

So call the recon line.

Keysmasher wrote:The Household Income that I stated on the application was well over 120k

From what I can tell, the CSP app asks for gross income, not household income. That might have been an issue as well.

Keysmasher wrote:I don't know about the "No preset spending limit" being a market gimmick. I have the Amex which has no preset spending limit and when I put 25k as a test charge, it was accepted.

Apples and oranges. AmEx is charge card.

DoingHomework wrote:2 credit pulls in a year or so is enough to get you denied.

All depends on one's credit. I was approved for the CSP and I had at least 2 pulls.

whit
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Postby whit » Mon Sep 16, 2013 4:27 pm

No one says you need an income of 120k :rolleyes:

There are folks with 30k that got approved -since 5k is the minimum limit it makes sense

They were just real life examples, which also includes letting you know there are different factors that are looked at when you apply as well as there is other ways if you don't get approved at first--special consideration for those who bank with chase with 10k or more in deposits

If they have second look for folks that are CPC because they (CPC) can (potentially) get denied the first time around for CSP then yeah, obviously income isn't the only factor being that you need asset combined of 250k or more to be cpc

Read

Malt
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Postby Malt » Tue Sep 17, 2013 12:55 pm

jeffysdad wrote: I've read that the Sapphire card is targeted at individuals with incomes of $120k and above.


whit wrote:No one says you need an income of 120k :rolleyes:

There are folks with 30k that got approved -since 5k is the minimum limit it makes sense

...

Read


Here we go again...
Someone did in fact say just that. I can read just fine thank you very much. So now why is it that you continue to call me out and attack me? Do you have an issue or something? Go troll somewhere else.

whit
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Postby whit » Tue Sep 17, 2013 6:04 pm

I'm not a troll but thanks, I've been around Internet forums for more then a decade and you're the first to accuse me of so

Targeted ≠ need (I'm too lazy to quote you above but need was your exact word versus target which was what that poster you quoted wrote..diff meanings btw)

You read something and interpret it another way, that is how you process/read it but just because its targeted does not mean its NEED or REQUIRED

So it makes sense that someone with 30k can get approved

5k is the minimum needed in CL to open it, so if you see someone with less then 5k as starting credit limit it is questionable

Saying that its targeted does not, again, repeat, mean that those who don't have at least 120k in gross annual income, will not or cannot get approved

And yeah most likely sapphire is targeted to those who have six figure income, given what they start their CL at.

LtCheese
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Postby LtCheese » Sat Sep 21, 2013 7:59 pm

Does anyone think I have a shot at a CSP?

I'm working part time during the school year so my income is a shade over 30k.

Macy's Store Card: 1.5k
Citi DP: 1k
Freedom: 1.2k

720 EQ at last check

RewardHop
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Postby RewardHop » Sat Sep 21, 2013 8:12 pm

LtCheese wrote:Does anyone think I have a shot at a CSP?

I'm working part time during the school year so my income is a shade over 30k.

Macy's Store Card: 1.5k
Citi DP: 1k
Freedom: 1.2k

720 EQ at last check


Don't take this the wrong way, but if you are a student, do you really need a CSP? Do you get greater benefits from it than the annual fee or another card without an annual fee might provide?[sapphirepreferred].[/sapphirepreferred]
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Chase Freedom Visa Signature: 5% rotating
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