When it comes to applying for a premium credit card, many factors come into play in which determine whether you will be approved. This week, I was reminded of the importance of credit history. But in terms of Chase Sapphire Preferred, even a limited credit card history can potentially be overcome.
If you are considering signing up for a new credit card please click here and help support LiveAndLetsFly.com. Your support is greatly appreciated.
Denied Then Approved: Chase Sapphire Preferred Credit History Issue
Chase is running a valuable promotion right now concerning its Chase Sapphire Preferred credit card, which I’ve written about here. Currently, you can earn 80,000 bonus points after spending $4,000 within three months of account opening.
Consequently, I’ve encouraged many to apply for what was already one of the best all-around credit cards and a card that I have had in my wallet for five years…I do find this an extremely compelling deal.
One family member has a solid credit score (742 with TransUnion and Equifax and 740 with Experian) but a limited credit history…eight months to be exact. She has a Chase Freedom card, but no other credit cards.
After reading the data points on View from the Wing on Sunday (“typically cardmembers with a score of 646 report approval”), I encouraged her to apply for the card. We knew the credit history might be an issue, but Chase is not exactly transparent about what its minimum requirements are, so she applied.
Within seconds of submitting her application, she was denied:
Calling The Chase Reconsideration Line
I had her call the re-consideration line at 1-800-945-2006 and explain the situation. I wasn’t present for the call, but she told me the agent was very clear:
“You’re score is fine, you have a perfect credit history, but it just isn’t long enough. We automatically deny any applicant that does not have at least one year of credit history.”
However, she nicely asked if the agent could reconsider, perhaps pulling credit from her Freedom card. After placing her on hold, the agent returned and informed her she had been approved. No credit was pulled from her existing card. In fact, her overall credit line with Chase quadrupled.
Success!
CONCLUSION
So to summarize, here’s my Chase Sapphire Preferred data point:
- 742 credit score
- 8 months of credit history
- Initial denial
- Success after calling reconsideration line
Hopefully this will help some of you in your credit journey. If you have similar or different data points, please share them in the comments below.
If you are considering signing up for a new credit card please click here and help support LiveAndLetsFly.com. Your support is greatly appreciated.
I was denied sapphire preferred just few days ago. I applied IHG premier and got approved for $17k and few minutes later applied for preferred and got denied. I called the reconsideration number twice, both agents told me chase denied because I applied for two cards in one day. However they mentioned if I’d like them to pull my credit manually then I might get approved. I didn’t want to risk a second hard pull and refused to apply for card
I was recently denied because my last two credit card approvals were too close together, which were 11 months apart. Those were also the only credit cards I have. Credit scores were 750 to 768.
Have a 16 yr credit history and recently checked my score (815,transunion).. I should be good but got denied. I should also mention that Im black (dont know if that makes a difference). Anyway, Im going to definitely call the line now, after reading this
Good luck, Moe. Please let me know how it goes.
Credit score is important but income and the bank relationships are very important too. I have about 100K in YouInvest account along with a Sapphire checking with Chase. Chase approved 4 personal and 3 business cards in 10 months. I am an Asian.
Moe, what does that matter? I have long credit history, scores in the 800’s consistently for the last 4 years, no credit pulls in over 2 years, only 3 credit cards all prime deck with high limits, 1% utilization, have been a Chase Bank member for 8 years, earned over 120k and can’t get ANYTHING Chase. And I am white. Color means nothing. They all have funny algorithms they run by and no one knows what, how or why. Chase hates me (aka my credit profile) for some reason. American Express and Citi love me. What you look like doesn’t matter one bit to a computer.
Kind of like the “algorithm” that the Apple card had which assigned lower credit limits to women?
Moe’s data point shouldn’t be relevant, but unfortunately it is.
Thank you, Jerry.
Yeah, I had 75% of my chase cards get denied at first glance. Every time I called I got approved. I doubt that unless you applied in person that you being black was even on their radar. So now I always call on a denial.. Like within minutes lol.
Please don’t believe everything you hear on the main stream media. Your color have absolutely nothing to do with you being approved for a credit card. By law, they can’t even ask you your race when you apply, so how would they know what color you are?
Don’t understand why this has to be mysterious – both Discover and Capital One have a website that you can use to get prequalified and yet even if you are that doesn’t guarantee that you’ll be granted the card… why? Is it so burdensome to do a hard credit pull you can’t know without getting a hit on your score if denied?
Matthew, after reading about this promotion on your blog, I too applied and was asked to call Chase for reconsideration (it was not an immediate decline, but stated further reconsideration was necessary). A phone call the next day and 25 minutes later, they conditionally approved my application only after I agreed to reduce my credit line on my other Chase card by $25,000 in order to get the same amount of credit on the new card. In addition, they wanted me to fax them proof of residency (who has a fax these days). For a preferred card, it was quite a hassle. I hope the promotion is worth it.
Davi, thanks for the valuable data point.
ALL ARE SCAMMERS UR CREDIT SCORES HAS TO BE 700 HUNDRED OR OVER I HAVE CAPITOL ONE 6 YEARS ON TIME PAYMENTS TO BUILDING MY CREDIT SCORES NO INCREASES AT ALL THESE ARE
I too was automatically denied. I have a 760 to 769 score. I have a chapter 13 bankruptcy that will be 7 years old in January of 2021. What should I do. I currently have a chase car loan in good standing. Got loan in 10 of 2019. I am also a authorized user on a Chase freedom visa.
Did you default on any Chase cards when you filed for bankruptcy?
Take your business elsewhere, Chase sucks, a bank manager begged me to get a Sapphire card and it had a $500 limit on it. I laughed when it came in the mail and promptly shredded it. Most cards I have have a 25k or more limit.
I opened a account back in March, I deposited a two party check that was my niece she didn’t have a id, they took the check no problem. Then 3 days later closed my account , it been 8 mo. and Chase 29 hundred dollars that they will not give me. I was a chase customer yrs. Ago paid off a house and a car with chase. I will never be a customer of chases again.
If anyone knows how I can get my money please let me know!