Yes, the Chase Sapphire Preferred® Card is hard to get because it requires at least good credit for approval. Unless your credit score is 700 or higher and you have a lot of income, it will be difficult for you to get approved for the Chase Sapphire Preferred.
In order to get the Chase Sapphire Preferred, you will have to meet the credit score requirement, have a steady income and be at least 18 years old. You’ll also need to have an SSN or ITIN.
Keep in mind that even if you meet all of the requirements for the Chase Sapphire Preferred, you’re never guaranteed to be approved.
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 2022’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.
The Chase Sapphire Preferred credit limit is $5,000 minimum. Limits can be higher, depending on creditworthiness, though. Plenty of Chase Sapphire Preferred cardholders report limits of at least $10,000, and some say they have a limit of $20,000 or more. There’s no publicly disclosed Chase Sapphire Preferred maximum credit limit.
The credit limit you get on your Chase Sapphire Preferred will depend mainly on your credit score, income and other existing debts along with your credit utilization. The closer to perfect your credit is and the more money you make relative to what you owe, the higher credit limit you can expect. You can also ask for a Chase Sapphire Preferred credit limit increase by calling the number on the back of your card. There is no guarantee you’ll be approved though and credit limit increase requests will trigger hard pulls which can temporarily hurt your credit score. To increase your chances of approval, it’s best to make sure you’ve paid the bill on time for at least six straight months.
Not many cards have minimum credit limits higher than Chase Sapphire Preferred’s, but its sibling, Chase Sapphire Reserve®, is one of them. Chase Sapphire Reserve’s limit is $10,000 or more.
The Chase Sapphire Preferred income limit is at least $30,000, based on user reports. Chase doesn't publicly disclose the Sapphire Preferred Card’s income requirements, but you'll need at least enough money to cover the $95 annual fee and minimum monthly payments on your assigned credit line.
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