Will a prior relationship with Chase help you get approved?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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Varsity130
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Will a prior relationship with Chase help you get approved?

Postby Varsity130 » Thu Jun 07, 2012 10:56 am

I have a little bit of debt to pay off before I apply for a Sapphire Preferred, but I want to get a Freedom as well. The plan is to apply for the Freedom now, and apply for a Sapphire Preferred when I am out of credit card debt (about 6 months). The strategy being a previous relationship with Chase would help me get the Preferred.

The Freedom would be my first new credit card in about 5 years; I have 4 that are between 5 and 6 years old.

Is this a good idea or would a six month old credit card hurt my chances? How much would having a lesser card with them help me (if at all)? Thanks for the help!

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Utilization 15%


CC Deville
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Postby CC Deville » Thu Jun 07, 2012 4:53 pm

Are you saying that you had a prior relationship with Chase or are you considering the 6 month Freedom as your prior relationship?

If you had a card in the past in good standing that wouldn't hurt. But based on your score and utilization you should have no trouble being approved for both, probably even at the same time if you wanted as long as you have a decent income.

Varsity130
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Postby Varsity130 » Thu Jun 07, 2012 11:04 pm

Thanks for the response. I don't have any history with Chase. But in this scenario I would have 6-8 months of PIF use on the Freedom before applying for the Sapphire.

Spending on the Freedom would be mainly bonus categories while I put regular spend on a couple cards I'm trying to reach point thresholds with.

I know having a recent inquiry hurts and having a new credit card hurts, but will already having a card with Chase help me more than having that inquiry and lowered credit age hurt?

CC Deville
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Postby CC Deville » Fri Jun 08, 2012 9:13 pm

Honestly from what I know of your credit situation you should have no trouble at all. I would actually apply for the Freedom and Sapphire around the same time.

Now, if you have a ton of inquiries on your Experian that could be bad, but the inquiry and new account from Chase Freedom should not hurt you in 6 months for Chase Sapphire. I would say at this point take a gamble and apply for both now as long as your credit is clear and your income is good and verifiable.

Varsity130
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Postby Varsity130 » Sat Jun 09, 2012 8:16 am

Cool, thanks for the advice. I'm definitely applying for the Freedom in pretty short order. I'll hold off on the Sapphire because while I'm trying to pay down my debts I won't have enough disposable income to meet the minimum spend on both right now. But it's good to know that it won't hurt my credit to do so.



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