The Chase Sapphire Reserve income requirements aren’t publicly available, but you’ll need at least enough money to cover the $450 annual fee and minimum monthly payments on a $10,000 credit line. While it would certainly be easier if Chase just gave out a magic number, the truth is that income is only one factor in the application. And since Chase Sapphire Reserve is one of the top luxury cards on the market, all kinds of consumers want it, from millionaires to Average Joes.
Here’s what we know about the Chase Sapphire Reserve income requirement:
- Chase doesn’t disclose any particular number. You might get approved with a lower income but near perfect credit. Or you might get approved with credit toward the lower end of the excellent range but a very high income. The situation is different for each person.
- To get this card, you must be able to afford at least the $450 annual fee and minimum monthly payment. The smallest credit line you can get is $10,000. And if you used all of that, your minimum payment would be $100, plus interest.
- Debts are important too. If every dollar you earn already goes to repaying other balances, your income alone doesn’t really reflect your ability to pay. That’s why Chase considers your debt-to-income ratio.
Working to increase your income before you apply for Chase Sapphire Reserve could be helpful. Of course, that’s not always doable. But if you’re able to get a raise or do some extra work, it could increase your approval odds.
You should also be sure to include every piece of income you can in the figure you report on your application. It’s not just your job that counts. Gifts, scholarships, grants, trust funds, Social Security income and retirement income do, too.
Finally, it’s important to remember that income isn’t everything. You’ll also need an excellent credit score (750+). Plus, Chase will look at your housing status and number of recently-opened accounts.