You were probably denied for Chase Sapphire Reserve due to having a less-than-excellent credit (a credit score below 750) and not earning enough income to keep up with monthly payments.
According to previous applicants, Chase may also deny a Chase Sapphire Reserve application due to bankruptcy and not having established a long enough credit history with similar credit cards.
What you should do if your Chase Sapphire Reserve application was denied:
Find out the reason for the application denial. Chase usually sends a letter citing the specific reason(s) for a denial within 7-10 business days of rejecting a credit card application. In most cases, your application could be denied due to having a lower credit score or not having enough income.
Call the Chase reconsideration line. If you think the stated reasons are inaccurate, you can call the Chase reconsideration line at (888) 609-7805. This option may be worth a try if you’ve recently resolved any issues that may have led to the denial, such as an error on your credit report. Reconsideration is also a good idea if there’s been a significant positive change in your finances since you applied.
Improve your credit. After being denied for Chase Sapphire Reserve, you should look into ways to improve your credit, too. One option is signing on to another cardholder’s account as an authorized user. You could also apply for a credit card that’s easier to get than Chase Sapphire Reserve. You can use WalltHub’s Card Advisor tool to find the most suitable options for you.
Ultimately, improving your credit score will increase your odds of approval if you decide to re-apply for the Chase Sapphire Reserve card in the future.
Your Chase Sapphire Reserve approval odds are decent if you have a credit score of 750 or higher, which is considered excellent credit. Chase doesn’t publicly disclose their exact approval criteria. But they will definitely look at income level and current debt load as well as credit history.
Chase Sapphire Reserve requires excellent credit for a strong chance of approval, which means a score over 750. Many people consider a score of 720 or above to be excellent, but WalletHub has found that 750 is really where the odds begin to tip in your favor.
The average person’s Chase Sapphire Reserve approval odds aren’t so hot. The average credit score is just 695, according to the latest WalletHub data.
Chase considers monthly housing payments, home ownership status, annual income and the source of that income, in addition to pulling credit reports.
The odds of approval will be slim for people who have opened several new credit card accounts in a short timeframe. It’s better to allow at least six months between applications.
Just bear in mind that you’ll need more than a high credit score to get approved for Chase Sapphire Reserve. Let’s take a look at some of the other essential requirements.… read full answer
Here are Chase Sapphire Reserve’s credit score & other approval requirements:
Excellent credit score. You might find yourself getting approved with a lower score or denied with a higher one. But a credit score of 750 or higher definitely helps to maximize your chances.
Eligibility. You must be over 18 years old with a U.S. mailing address and a Social Security number.
Income. You don’t absolutely need a job, but you must have some kind of income and/or assets to prove to Chase that you have the means to pay for the charges you make.
As little debt as possible. Chase will weigh your income against your debts to determine how much you can afford to borrow.
No bankruptcy. You probably won’t be in this situation if you have an excellent credit score. But you won’t get approved while in active bankruptcy and will have a tough time as long as any record of bankruptcy is on your credit report.
So, as you can see, a lot more than just your score goes into approval. But having an excellent credit score is still a very important requirement. If you’re not sure where you stand right now, you can check your latest credit score for free on WalletHub, the only site with free daily updates to your scores and reports.
Ultimately, if you find out that your credit isn't quite up to par, working to improve it can drastically increase your approval chances. For advice on what to do, check out your custom credit analysis.
It generally takes 7-10 business days to get approved for the Chase Sapphire Reserve credit card. Some Chase Sapphire Reserve applicants may get approved instantly after applying online, if they are a clear match for the card’s approval requirements. In some cases, however, it can take Chase up to 30 days to make a ruling.… read full answer
Here’s the Chase Sapphire Reserve approval timetable:
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.
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.
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.
After applying, you can check your status online or by contacting customer service at (888) 338-2586. If you don’t have an account yet, just click the “Sign up now” button below the login area. You’ll be able to make an account by entering your application number and Social Security Number.
In case your application has been denied, you can ask Chase to reconsider your application by calling (888) 270-2127.
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