Your Chase Sapphire Preferred approval odds are best if you have a credit score of at least 700. That means you’ll need at least good credit to be approved. Having a steady income is also preferable. In addition, you need to be at least 18 years old and have either a Social Security Number (SSN) or an Individual tax ID Number (ITIN).
Here’s how you can gauge and improve your Chase Sapphire Preferred approval odds:
You must be at least 18 years old and have either an SSN or an ITIN.
Have a credit score of at least 700. That means you’ll require at least good credit for approval.
Having a steady income and minimizing your debts relative to your income is preferable.
To get a better understanding of where you stand in terms of your chances of approval for the Chase Sapphire Preferred and other credit cards, you can check your credit score for free, right here on WalletHub.
Yes, a Chase credit limit increase will use a soft pull, but only if Chase offers it, not if you request it. If you ask for a higher spending limit, Chase will do a hard inquiry into your credit history, which will cause a temporary dip in your credit score. Chase basically needs to confirm that someone who asks for more spending power can handle it. But if Chase decides to increase your credit limit automatically, a hard pull won’t be necessary because cardholders must prove themselves by paying their bills on time for several months.… read full answer
That said, you only need to worry about a hard inquiry if you’re planning to apply for a mortgage, auto loan or new credit card account in the next six months or so. And a higher spending limit can help you make important purchases or reduce your credit utilization and ultimately improve your credit score.
Here’s how to get Chase credit limit increase with a soft pull:
Chase will only do a soft pull if they offer you a credit limit increase. If you request one, they’ll do a hard pull.
Issuers tend to increase credit limits no more than once every six months. You can apply as often as you want, but you’re unlikely to be approved more frequently than that. And keep in mind that each request may cause a temporary dip in your credit score.
You’ll have the best chance of getting an increase if you use your credit card regularly and consistently pay your bills on time and preferably, in full.
Updating your income information on the Chase website will increase the odds of Chase offering you a higher limit with a soft pull.
Even though a Chase credit card limit increase requires a hard pull if you request it, it still could be worth it. If you’re a strong candidate for an increase, the opportunity to lower your credit utilization could be worth the temporary credit score damage.
Chase Sapphire Reserve approval generally takes 7-10 business days, if you’re not approved (or denied) instantly. Instant approval is never guaranteed, but it’s possible with all Chase credit cards, including Chase Sapphire Reserve. You just need to apply online to have a chance. If Chase needs to review or collect additional information, receiving a decision letter may take up to a total of 30 days. After you’re approved, your new Chase Sapphire Reserve card is typically sent by regular mail within 3-5 business days. But you can get 72-hour expedited shipping for free by calling Chase customer service at … read full answer(800) 945-2000. Once you receive your card, you can activate it and start using it right away.
You can check the status of your application at any time by calling Chase at (888) 609-7805. Just press “1” for credit applications and enter your Social Security Number.
The process is pretty straightforward. But the various timeframes can get confusing. So for your convenience, we’ll recap the most important details below.
Here’s the Chase Sapphire Reserve approval timetable:
7-10 Business Days. Typically, you can expect a decision letter within 7-10 business days. However, if Chase needs to collect additional information, you’ll be notified of their decision within 30 days, at the longest.
Instant Decision Possible. When you apply for Chase Sapphire Reserve online, you could find out whether you’re approved or denied by the time the page refreshes.
72-Hour Shipping Available. After approval, the Chase Sapphire Reserve will be sent out to you by mail within 3-5 business days. But you can request free expedited shipping and get it in 72 hours. Just call Chase customer service at (800) 945-2000.
Chase Sapphire Reserve approval is based on a detailed review of your credit history, income, housing status, debts and recently opened credit card accounts. If your qualifications far exceed what Chase is looking for, you could be approved instantly. If not, you may have to wait up to 30 days for a decision.
You need a 700+ credit score for Chase Sapphire Preferred approval. That means applicants generally need at least a “good” credit score to qualify for the Chase Sapphire Preferred® Card, though it’s possible to get approved with a lower score and a higher score may increase the odds.
It’s important to note that while your credit score is an important factor in determining whether or not you will be approved for Chase Sapphire Preferred, there are plenty of other things that will impact the decision, too. Some other important criteria include your income, existing debt load, number of open accounts, recent credit inquiries, employment status, housing status and more. … read full answer
If you don’t think you have what it takes to meet the Chase Sapphire Preferred credit score requirement, the good news is there are plenty of great rewards credit cards for people with good, fair, limited and even bad credit. You can check out WalletHub’s review of 2021’s best rewards cards for each credit level to learn more.
But if you’re confident that your approval odds are high, you can go ahead and get started on your Chase Sapphire Preferred application.
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