Chase Sapphire Pref- I'd read it, if I were you. :)

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
21 posts
youngandbold
Green Member
Green Member
 
Posts: 6
Joined: Tue Feb 18, 2014 3:51 pm
Location: Easy Coast

Chase Sapphire Pref- I'd read it, if I were you. :)

Postby youngandbold » Tue Feb 18, 2014 4:07 pm

Just an update after months of lurking the forums here.

I applied for the Chase Sapphire Preferred and was approved for 5K limit.

What makes my case special is I dont have stellar credit history I actually had some baddies in the past.

Pre-application I was at 660 in CK and 646 at MYFICO- I think this made my case special. Employed full time- 35K/Year. 23 Y/O.

Only Credit history i have after my troubles is me being an authorized user on my sisters account BOA 321- 2K 9 Months of history, IT- 1.5K 2 Years of history and 300$ limit 6 months of history on a secured card.

So I think the argument that you have to at least have a 5K limit card open is invalid and having baddies will not let you get into Chase or any other Bank and almost all the theories out here in this forum or any other forum for and against applying are invalid. I think its always YMMW.

So there you go. I think this will be the only post I will start until I get the Centurion card-which I think is overrated- since I believe the 5K Preferred limit is more than enough to keep me occupied.

Thank you again!


MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Sun Feb 23, 2014 12:01 pm

You do know the Centurion is by invitation only right, and that they expect you to put at LEAST 250k a year on that alone, and that the yearly fee is many thousands of dollars right? In other words, you need to be loaded to get one.


That 5k thing people talk about is a preference not something chiseled in stone, as you saw, and you are right. It's an easier card to get than most people realize.


It seems most creditors have relaxed standards a bit recently, among them Chase. People always ask on here "What are the odds I will be approved for XYZ if I apply" and I'm thinking who do I look like Nostradamus? How the hell would I know? If you want it, apply for it, that's the ONLY way you will find out if you will be approved for it. I've stopped answering those questions because I just find them a waste of time. But clearly as you mentioned standards have been loosened.


Good luck in your quest for a Centurion.

rockyrock
Centurion Member
Centurion Member
 
Posts: 803
Joined: Thu Mar 21, 2013 6:06 am
Location: Ventura, CA

Postby rockyrock » Sun Feb 23, 2014 12:39 pm

Come on Member, you remember being 23 and new to this game :-) Life was so simple back then...
American Express (2005): Premier Rewards Gold & Blue Cash Preferred
Chase: Freedom & UA Club USAA: Signature Visa & American Express
Discover it Bank of Hawaii Hawaiian Airlines WEMC Synchrony Sam's MC
Navy FCU Platinum Visa Citi Double Cash & AT&T Access MC

thom02099
Centurion Member
Centurion Member
 
Posts: 467
Joined: Sat Apr 13, 2013 7:49 pm
Location: Colorado, USA

Postby thom02099 » Sun Feb 23, 2014 7:02 pm

MemberSince99 wrote:You do know the Centurion is by invitation only right, and that they expect you to put at LEAST 250k a year on that alone, and that the yearly fee is many thousands of dollars right? In other words, you need to be loaded to get one.


That 5k thing people talk about is a preference not something chiseled in stone, as you saw, and you are right. It's an easier card to get than most people realize.


It seems most creditors have relaxed standards a bit recently, among them Chase. People always ask on here "What are the odds I will be approved for XYZ if I apply" and I'm thinking[color="red"] who do I look like Nostradamus? How the hell would I know? If you want it, apply for it, that's the ONLY way you will find out if you will be approved for it. [/color]I've stopped answering those questions because I just find them a waste of time. But clearly as you mentioned standards have been loosened.


Good luck in your quest for a Centurion.


Member, you crack me up! Too bad you're banned at MyFICO, that's the perfect retort to post there!
Retired, and in the process of retiring cards!
EQ = 846 EX=828 TU = 836 as of 02/2016

thom02099
Centurion Member
Centurion Member
 
Posts: 467
Joined: Sat Apr 13, 2013 7:49 pm
Location: Colorado, USA

Postby thom02099 » Sun Feb 23, 2014 7:04 pm

youngandbold wrote:Just an update after months of lurking the forums here.

I applied for the Chase Sapphire Preferred and was approved for 5K limit.

What makes my case special is I dont have stellar credit history I actually had some baddies in the past.

Pre-application I was at 660 in CK and 646 at MYFICO- I think this made my case special. Employed full time- 35K/Year. 23 Y/O.

Only Credit history i have after my troubles is me being an authorized user on my sisters account BOA 321- 2K 9 Months of history, IT- 1.5K 2 Years of history and 300$ limit 6 months of history on a secured card.

[color="red"]So I think the argument that you have to at least have a 5K limit card open is invalid and having baddies will not let you get into Chase or any other Bank and almost all the theories out here in this forum or any other forum for and against applying are invalid. I think its always YMMW.
[/color]
So there you go. I think this will be the only post I will start until I get the Centurion card-which I think is overrated- since I believe the 5K Preferred limit is more than enough to keep me occupied.

Thank you again!


It doesn't make the argument invalid. LOTS of folks on a variety of forums have reported that they were denied specifically for a lack of a comparable, $5K limit card. What it DOES do is makes the YMMV valid.
Retired, and in the process of retiring cards!
EQ = 846 EX=828 TU = 836 as of 02/2016

PallasAthena
Gold Member
Gold Member
 
Posts: 43
Joined: Sun Oct 14, 2012 6:58 pm
Location: USA

Postby PallasAthena » Sun Feb 23, 2014 7:10 pm

Congrats! I am jealous. My fico score is 680 (used to be 700 but I took a hit when I closed 2 capital one cards) and I have no baddies... just a BK dated 8 years ago in 2006... and because of that I got denied by Chase, Citi, etc...
Oct '16
TU: 783, Equifax: 772
Ch 7 BK in '06, finally dropped off in '16
2 mortgages
paid off car
0 CC debt (Disc, Citi, and WF Amex)
furniture debt: $1800
Closed unused CCs, was dinged a few pts, but recovered
I filed for BK in '06 and was in debt over $500K. Never again! You can do it too! :lift:

youngandbold
Green Member
Green Member
 
Posts: 6
Joined: Tue Feb 18, 2014 3:51 pm
Location: Easy Coast

Postby youngandbold » Sun Feb 23, 2014 8:35 pm

Yes, I am well aware of the requirements for the AMEX Centurion. I only used acquiring the Centurion as a comparison, not really interested in getting one.

Thank you!

youngandbold
Green Member
Green Member
 
Posts: 6
Joined: Tue Feb 18, 2014 3:51 pm
Location: Easy Coast

Postby youngandbold » Sun Feb 23, 2014 8:37 pm

Yes, my situation does not invalidate all that's been said about getting approved for Credit cards but rather enhances the fact that things do get better, same with life, everything is YMMV.

Thank you!

youngandbold
Green Member
Green Member
 
Posts: 6
Joined: Tue Feb 18, 2014 3:51 pm
Location: Easy Coast

Postby youngandbold » Sun Feb 23, 2014 8:39 pm

What other cards would compliment with the Chase Sapphire Preferred?

Gas, Travel & Groceries would be the main categories i'll be spending on.

Thank you!

MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Sun Feb 23, 2014 9:04 pm

PallasAthena wrote:Congrats! I am jealous. My fico score is 680 (used to be 700 but I took a hit when I closed 2 capital one cards) and I have no baddies... just a BK dated 8 years ago in 2006... and because of that I got denied by Chase, Citi, etc...




If it gives you any comfort, I burned Chase and Amex, and I have cards with both of them now as you can see from my signature. It's always YMMV but there is hope.


But you still have to pay the price that's just how it works. You shouldn't expect a free ticket to burn the creditors and still get the red carpet rolled out while that BK is reporting. But you do have a shot to get back in and hopefully be wiser or luckier next time around. I mean think about it - if you loaned someone money and they stiffed you, and then they come back to you soon afterwards asking for more, would you give it to them?


So just hang in there fella.



Return to “Visa & MasterCard”

Who is online

Users browsing this forum: No registered users and 2 guests