Pathway to Sapphire Preferred

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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simplee
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Pathway to Sapphire Preferred

Postby simplee » Sun Jan 06, 2013 3:14 am

I'm currently a college student, meaning that I have an income of about $10,000. I don't really know how to account for this since my parents (income > $350,000) pay for my rent and tuition and such. I work to cover personal expenses.

I currently have a Citi Forward (2 years, CL $1600) and use it well and pay off balances every month. I'd like to expand my portfolio and eventually work up to a Sapphire Preferred or something of that caliber.

I'm thinking of applying for a Chase Southwest Airlines Rapid Rewards Premier card or a Chase Freedom. Any thoughts?

My CK score is about 750 and interest rates don't matter for me since I don't carry a balance.


Robrus1
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Postby Robrus1 » Tue Jan 08, 2013 8:21 am

CK score isn't always an accurate representation of your real scores, just FYI. 2 years of on time payment history with that Citi card helps, assuming you haven't had any late payments. On paper, your income is what's going to hurt. Your parents' income is irrelevant. You could apply for one of the cards you mentioned, just pick the one that you think is right for you. Minimum credit limit on a Sapphire Preferred is 5K, and since your income is 10K, I don't see that happening just yet, but you should try to get your foot in the door with Chase. That's where I'd start. You may even look at their student cards if they have any.
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K

kcarter609
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Postby kcarter609 » Tue Jan 08, 2013 8:51 am

Go for the Freedom over the Southwest.

Active Cards:
Chase Freedom 10+10 Visa Signature ($9k Limit - 8/2012)
Chase Sapphire Preferred ($10k Limit - 2/2013)
Chase Ink Plus ($7k Limit - 2/2013)
Discover IT ($9.5k Limit - 10/2012)
AMEX Zync (No Pre-set Limit - 1/2010)
AMEX Blue Cash Everyday ($20k Limit - 1/2013 - Backdate to 1/2010)

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Snowman
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Postby Snowman » Tue Jan 08, 2013 10:24 am

Like I posted in your other thread, I think that you have a better chance of being approved for the Freedom rather then the Southwest Card or CSP. The southwest card is a visa signature in which the starting CL is 5k, and your income is 10k, so they would definitely deny you on the basis of income even if everything else is okay on your reports. I have heard of people getting approved for the Freedom, with CL's as low as 500. Most of their cards are visa signature, so I truly think it'll be hard for you to get approved for much from Chase. Robrus, I have looked around Chase's website, and they do not offer student cards.
Bank Of America: BankAmeriCard Cash Rewards-4.2k
Citi: Forward-4.5k American Airlines Advantage Platinum Select World Elite MasterCard 9/6/15-4K
Discover: More-7k
Amex BCE.2k- Amex SPG-5k
Chase: Freedom-5kSouthwest Rapid Rewards Plus- 3.6k
Capital one: Venture one-10,000, Visa Signature.

Money card
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Postby Money card » Sat Jan 12, 2013 8:54 pm

My thoughts on this is your a student not the vice president of Buffalo wild wings, Nordstroms or the gap not even the vice president of Ibm.
I would use your citibank forward card enjoy the card pay your bills in full. after you graduate from college and make more money then you can think about whatever card you want.
when I was about 21 or so all I had was a grey First Fidelity visa card. you have a nice card.

for people who are interested in knowing what I think. for people who travel on business the southwest is a much better card.
you get better checked luggage benefits, insurance, not sure about the lounges you also get concierge service.

for people who like to eat out or shop at department stores, go to the movies then I would say the Freedom is better than the southwest.

amexguy321
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Postby amexguy321 » Tue Jan 15, 2013 10:11 pm

i just got approved for a chase freedom this past summer with cl of 1800, with a rough income of 10k per year (in the same boat as you are, ie age). i also carry some amex cards as well. many of my fellow college students have been approved for a chase freedom, but they all have been carrying other cards prior.

my short term goal is to be approved for the chase hyatt card. the benefits are really great and certainly offset the anual fee of $79

thoughts?

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Calipso
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Postby Calipso » Wed Jan 16, 2013 6:26 pm

Money card wrote:My thoughts on this is your a student not the vice president of Buffalo wild wings, Nordstroms or the gap not even the vice president of Ibm.
I would use your citibank forward card enjoy the card pay your bills in full. after you graduate from college and make more money then you can think about whatever card you want.
when I was about 21 or so all I had was a grey First Fidelity visa card. you have a nice card.

for people who are interested in knowing what I think. for people who travel on business the southwest is a much better card.
you get better checked luggage benefits, insurance, not sure about the lounges you also get concierge service.

for people who like to eat out or shop at department stores, go to the movies then I would say the Freedom is better than the southwest.


You try to lecture this guy about being a student. Yet, you don't know the difference between your and you're (you are). You also don't use proper grammar or begin sentences with capitalization.

Recommendation: Try to be less snarky and more helpful.
My Limits:
NFCU NavCheck: $15,000/NFCU Platinum: $11,500/NFCU nRewards: $8,000
Chase Freedom: $6,500/Chase Slate: $6,000/CSP: $5,000/Marriott Rewards Primier: $5,000/United MileagePlus Explorer: $5,000/Southwest Primier: $3,000
Citi Hilton HHonors: $9,700/Citi Simplicity: $8,200/Citi Forward: $5,500
AMEX Blue Cash Everyday: $8,000/SPG AMEX: $5,000/AMEX Everyday: $5,000/AMEX Delta Skymiles Platinum: $3,400
Discover IT: $7,700
Barclay's NFL Extra Points (Carolina Panthers): $5,000
DCU Platinum: $3,000
RTN FCU CC: $2,000
CCCU Platinum Rewards Visa: $2,000

Current total limit: $129,500

Rory
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Postby Rory » Wed Jan 16, 2013 11:50 pm

Calipso wrote:You try to lecture this guy about being a student. Yet, you don't know the difference between your and you're (you are). You also don't use proper grammar or begin sentences with capitalization.

Recommendation: Try to be less snarky and more helpful.


lets keep our comments constructive eh? wheres Srt8 when you need him to STR8en us all out???

I would suggest OP just try and get his foot in the door with Chase by applying for a Freedom card. Nothing fancy but building a relationship with Chase is just as important towards moving to more preferable cards as it is with Amex in my opinion. Good luck and congrats on being born into the 1%, lucky devil you.
Amex Zync - NPSL (Cleared up to 25k)
Amex BCE - 12000 limit
Amex BCP - 4200 limit
FIA Rewards Amex- 3500 limit
Chase Freedom - 2000 limit
Chase Slate - 2000 Limit
BoA Cash Rewards Privileges- 3000 limit
Barclaycard Rewards MC - 3000 limit
Discover IT- 3500 limit
Marriott PR- 5000 limit
21 years old with alot of life to spend ;)
Its not about the ending, its about the journey,
just as long as the ending is just as good :cool:

Robrus1
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Postby Robrus1 » Thu Jan 17, 2013 12:49 pm

I agree with the Freedom Card. You don't need to be the VP of a large company to get a CSP. The Freedom is a start and a good path toward a CSP and a good relationship with Chase will help. Also, those two cards work well together.
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K



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