CS Odds with lower income

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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Laxsnor
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CS Odds with lower income

Postby Laxsnor » Sat Apr 12, 2014 1:33 am

I know this question is asked a lot, but I have a pretty unique case. I want the Chase Sapphire card primarily for the UR points and the travel delay insurance (the only card I've seen that offers travel delay insurance). I have a thin, but good credit history. I've had a US Bank Cash Rewards card (that I plan on PCing to a Cash+ in a month) for two years now with a CL of $12,000 (I have a co-signer, I'm not just an AU). The utilization has always been below 10% when the statement posts and I have never had a past due account. However, my income is only about $22,000 as I am currently a student. I know it's not going to be the worst thing to apply, but not sure if I should even bother.
USBank Cash+ $12,000
Delta Amex $4,000
Sallie Mae $1,000


MemberSince99
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Postby MemberSince99 » Sat Apr 12, 2014 4:47 pm

I have zero - absolutely no - idea of what your "odds" are. If I was that psychic, I'd hit the lottery and escape from the corporate hell I slave in.


Anyway, I know there is an income requirement for this card. I had heard 35k but then I read about people with a 28k income getting one. So maybe they give some leeway on that based on history.


22k seems low to me, but the ONLY way you are going to ever know is to apply. If they reject you, then target a different card for what you want. Also if you are rejected, they are as easy to recon with as any lender out there. You might be able to talk the analyst into approving you. A lot of us here have had success with that.

takeshi
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Postby takeshi » Mon Apr 14, 2014 8:43 am

Laxsnor wrote:I know this question is asked a lot, but I have a pretty unique case.

Everyone thinks that their case is unique. Unfortunately, aside from extreme cases it's difficult to tell anyone's odds. If you want to find out then applying is the way to do so.

linuxmachine
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Postby linuxmachine » Mon Apr 14, 2014 12:04 pm

I don't know your chances, but if I'll pretend to be the bank and say I rather not have you as a customer. 22k income is low, and your credit account is backed by a co-signer, and that's probably why the limit on that card is so high. You will be the sole account holder, and your income doesn't help your cause. Do you have another card with us? Perhaps a fee free card? Let's build a relationship first, then we can talk about our premium products.

Does this help? Probably not... and I'm sure if you decide to apply and get the card, you will stick it to me. So don't mind me and just app for it, because it seems a majority of people can't help themselves :P

randeman
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Postby randeman » Sat Apr 19, 2014 12:00 pm

If you do decide to apply and are denied, call credit services and ask for specifics. They may even surprise you and approve it then and there. If not, Chase is really good about giving you information regarding your denial.
Cards and Credit lines Acquired:

Escape by Discover (7.75K), Barclay Holland America Visa (7K), Macy's store card (7K), Bloomingdale's store card (2.6K), Citi Custom Credit Line (3.5K), PayPal Smart Connect credit line (2.7K), Chase Freedom Visa (5K), Chase United MileagePlus Visa (5K), Chase Sapphire Preferred Visa (6K), Amazon store card (2.2K), Lord & Taylor store card (550), Nordstrom store card (1500), Gold Delta SkyMiles from American Express (3K), Discover It (6.5K), PayPal Credit Line (1K).

Laxsnor
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Postby Laxsnor » Tue May 27, 2014 8:35 pm

FWIW, I decided against applying for CS. I instead applied for and was approved for the Sallie Mae Barclaycard ($2000) and the Delta Gold Amex ($4500). FICO was around 785 for both TU and EX. Thanks everyone.
USBank Cash+ $12,000

Delta Amex $4,000

Sallie Mae $1,000



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