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Question By
SamGavinSun

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13 People Helped
1yr1m credit history for chase sapphire? TU 741 equifax 737 fico 732
21 year old college student. First one in family in the US. Credit scores in the title. All income (funds available to me) combined including fellowship and transfers from parents and work salary at 82K a year. Trying my very best to build a credit history here.

Recently the sapphire reserve is the big deal-- but I'm thinking about the preferred since everyone is going for the reserve. Also heard a rumor(verify for me plz) that if you apply two chase cards at the same day chase would only do one hard pull.... I'm thinking about starting my financial needs with Chase, so I'm planning on applying for both the freedom and sapphire at the same time.

Credit Cards:
Discover it: 2500. 1y1m
Citi Thank you preferred: 1700. 1yr
Pay to zero each month. Below 5 percent credit utilization consistently.

Should I give it a shot? All advice appreciated! Thanks!

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Top Contributor
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Decent chance

Helpful to 4 out of 4 people

Really the only thing working against you is your AAoA.  It seems like 2 years is the magic number in a lot of cases.  You most likely will get approved instantly for the Freedom, but you may have an issue with the Saphire.  The Saphire is a Visa Signature only, so unless you're approved for that higher-tier threshold, there isn't even the option to approve you for a lower-tier Visa in the Saphire.  With the Freedom, you can be approved for either the Signature or the lower-tier level Platinum.  Maybe a safer way of finding out would be to apply over the phone or in a branch?

Reply by
SamGavinSun

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Helpful to 3 out of 4 people

Sounds like a great idea to apply by phone! I would really like this card :) Thanks a lot! Quick follow up question: does getting referred by someone who's already their user helps?

Reply by
SamGavinSun

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13 People Helped
Helpful to 2 out of 2 people

I just applied for the card via phone and got the dreadful 'needs further review'.... I guess two years is the magical number... I wonder what to do now...

Top Contributor
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52 People Helped

Helpful to 3 out of 3 people

As other have said as well, an AAoA of 2+ years also helps.

As well as a pre-approval as I mentioned above.

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It Can't Hurt

Helpful to 2 out of 2 people

I hear ya about wanting the Sapphire, it's a great card and a great sign-up bonus.  As far as being referred by an existing Chase customer, I haven't personally seen any examples where that was taken into consideration in general, but when applying over the phone with a credit analyst it may very well work in your favor.  From the company's perspective, talking with you directly on the phone or in person is less risky for them vs. blindly receiving an online application.  Any time you can take the approval process out of the computer's hands and into a human's hands is typically beneficial to the applicant (assuming they have a strong credit profile, like you).

Reply by
SamGavinSun

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13 People Helped
Helpful to 6 out of 6 people

Thank you so much for your help! I'm trying my very best to build my credit history so it pay off one day when I need it. Even if I do get the new card/s I will still will be very careful with their use. But thanks a lot about these advises. I really appreciate those. :) have a wonderful day!

Reply by
SamGavinSun

4 Contributions
13 People Helped
Helpful to 2 out of 2 people

I just applied for the card via phone and got the dreadful 'needs further review'.... I guess two years is the magical number... I wonder what to do now... I might call back in to check with them?

Top Contributor
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52 People Helped

Helpful to 1 out of 1 people

Going forward, for any credit card you want, check the issuer's pre-approval website first. If you have one then there is a better chance of getting approved.

Specifically to Chase:

Freedom - good chance of getting

Sapphire cards: Chase likes to "match" the other lines you have so if you don't meet their minimum matches then approval chances diminish.

CSP - Visa Signature - minimum $5k

CSR - Visa Infinite - minimum $10k

It would also help if you had an existing banking relationship. 

Top Contributor
12 Contributions
29 People Helped

Chase Sapphire Preferred

I can definitely attest that banking with them helps. I was just instantly approved for this card ($5,000) a couple weeks back and I have a checking account with them. No preapproval.

I have a credit history of 9 months

AAoA of 4 months

9/24 9 new accounts in the last 24 months

8 inquiries when I applied (on all 3 CRA) They pulled EX for me.

My utilization is 9%

FICO Scores are all 710+

No derogs

I did already have a $5k credit line and another $4k one

By all standards, I should have been denied for this card. Especially because of the 5/24 rule, short history, and inquiries in the last 12 months. But I believe I was approved because I have been banking with them for over a year now. That's the only thing I can think of that would have made it possible for me to get approved for this.

1 Contribution
0 People Helped

Two cards for more points.

I have the Chase Sapphire Reserve and Chase Freedom. By having those two as my main credit cards I accumulate the best of both cards. Chase Sapphire Reserved is a great card if you travel a lot ; with $300 of travel credit a year [although please note that you are charged $450 a year for this card]. The points for this cards are 3 points per dollar on travel, restaurant and 1 point for the rest. On the other hand, Chase Freedom provides you 5 points, [FIVE POINTS per dollar guys !] on a specific category that change every quarter [currently Gas]. Since both cards are from Chase you can accumulate points and beneficiate of the "1 points worth 1.5 points if you spend of travel" that the Sapphire Reserve offers. Now concerning the we are talking about your first card. I would recommend you to start with a card charging annual fees. If you cancel this card someday because of the fees, It will greatly impact your credit score negatively because your oldest account is a good one to keep open to keep your average credit history as high as possible. Some lenders use the average of all of your cards ; some others do the average of the oldest and the newest. My final advice would be Freedom first and Sapphire Reserve in 12 to 18 month. 

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