Yes, Chase Sapphire Reserve is hard to get because it requires excellent credit for approval. Unless your credit score is 750 or higher and you have a lot of income, it will be difficult for you to get approved for the Chase Sapphire Reserve card.
What You Need to Get Chase Sapphire Reserve
Excellent credit score of 750+
Low debt relative to income
Low housing costs relative to income
As with any other credit card for excellent credit, these requirements are not set in stone. It’s possible to get approved with a slightly lower credit score, for example, as long as other factors in your application make up for it. But meeting or surpassing each of these requirements will certainly make the Chase Sapphire Reserve card easier to get.
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.
The easiest Chase credit card to get is the Chase Freedom® Student credit card, but it’s only available to students. Applicants can get approved for this card with limited credit. This means the odds of approval are good even for people who are new to credit, making the Chase Freedom® Student credit card much easier to get than other Chase credit cards.… read full answer
All other Chase credit cards require at least good credit for approval, and some require excellent credit. But while Chase cards aren’t that easy to obtain, there are several other credit cards that are easy to get.
Having one of these credit cards may increase your chances of landing a Chase credit card in the future, if you use it responsibly. That means paying your bill on time every month and keeping your credit utilization below 30% of your credit limit.
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